Commercial Loan Boarding Specialist

City National Bank • Jacksonville, AR

2d • Onsite

About The Position

The Commercial Loan Boarding Specialist is responsible for reviewing all requests for boarding and funding for approval, completeness, and accuracy. This role involves boarding new and renewed consumer, commercial, and mortgage loans, processing advances, payments, and payoffs on various loan products, and maintaining Guarantor records on the loan system. The specialist will also perform maintenance, calculate and adjust interest and fee accruals, determine causes of rejected items and process corrections, and balance work while preparing appropriate GL entries to various cost centers as required.

Requirements

• Bachelor's Degree or equivalent
• Minimum 3 years of loan processing experience in a financial institution required.
• Minimum 2 years of basic computer experience(e.g. Microsoft Word, Excel, Outlook) required
• Ability to communicate effectively.
• Able to handle a heavy volume of transactions and multiple tasks.
• Detail oriented with strong follow-up skills.
• Able to manually compute accrual adjustments.
• Ability to operate Personal Computers and WordPerfect/Word Programs.
• Able to operate calculators, encoding, fax and copying machines.

Responsibilities

• Reviews all requests for boarding & funding for approval, completeness & accuracy.
• Boards new and renewed consumer, commercial and mortgage loans.
• Processes advances, payments & payoffs on various loan products.
• Maintains Guarantor records on the loan system.
• Performs all maintenance, calculate and adjust interest and fee accruals.
• Determines causes of rejected items and process corrections.
• Balances work and prepare appropriate GL entries to various cost centers as required.
• Set up all entities, including borrowers, co-borrowers, and guarantors.
• Ensure CIS records have been established prior to funding the loan.
• Obtain waivers from compliance as needed.
• Understand FASB91 and GAAP accounting guidance related to treatment of fees/costs for new loans.
• Determine if change is considered significant based upon comparison of cash flows in determining if fees can be taken into income or must be amortized over the life of renewed/modified loan.
• Ensure for the accuracy of the entered pricing (All-in Rate, Margin, and Index, teaser rates, LIBOR pricing options, as applicable) and repayment schedules.
• Enter critical information for reporting purposes gleaned and/or translated from the Credit Approval Document, Loan Documentation Checklist, or other documents which supports governmental, regulatory, and General Ledger/Financial and management reporting.
• Fund loan based upon disbursement authorization.
• Set up future disbursement account in ALDO as applicable.
• Funding make take the form of an out-going wire, credit to a demand deposit account, issuance of Cashier’s Checks or offset to payoff/pay down an existing loan.

Benefits

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level