Correspondent Loan Specialist

NBT Bank•Oneida, NY

2d•Onsite

About The Position

NBT Correspondent Loan Specialists are responsible for the administration of complex credit facilities, including interest rate swaps, participations, syndications, and letters of credit (domestic and international). They independently perform complex operational tasks within commercial loan operations with advanced knowledge of business processes. This role utilizes technical expertise in the designated area and resolves escalated issues. It applies advanced knowledge of commercial loan documentation and products, commercial setup in the loan accounting system, policy, procedures, regulations, and law to the area of focus, ensuring accurate completion of assigned responsibilities. The specialist analyzes and completes requests for the creation of LC documentation and setup, maintenance, verification, and data collection. They work with correspondent banks in the settlement of payments and draws and letters of credit. This role supports both monetary and non-monetary transactions, which require reconciliation. It provides expertise and guidance to internal customers and more junior staff. The specialist utilizes developed analytical and problem-solving skills and collaborates with peers and managers to resolve issues and achieve goals. They create and update procedures, with supervisor’s approval, while ensuring compliance and following regulations. Activities directly impact customer accounts, bank reporting, and real-time information. The role may conduct research, prepare reports, and furnish information to authorized persons within and external to the bank. It provides technical expertise in support of the interest rate swap system, loan accounting system, and correspondent bank process. The specialist participates in the implementation and testing of commercial and loan origination systems and the loan accounting system.

Requirements

Bachelor’s degree and 3 years’ experience required.
Equivalent combination of education and experience.
Demonstrated analytical and problem-solving skills
Ability to enhance procedures and recommend improvements to process
Advanced organizational skills required
Good communication skills (written and oral) required
Sound knowledge of legal statutes that pertain to commercial lending including contract and UCC law, collections, compliance, etc.
Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or assume sponsorship of an employment Visa at this time.

Nice To Haves

Prior experience in commercial loans or letters of credit preferred
Accounting and computer skills preferred.

Responsibilities

Processing a variety of complex monetary/non-monetary transactions and/or tasks as assigned, which may include but are not limited to: providing guidance to teammates on advanced complex commercial functions, resolving unreconciled interest accrual, interacting with correspondent banks, internal customers and General Counsel.
Completing high-level tasks on the team requiring analysis and independent judgement and decision making.
Providing support to internal and/or external customers as well as department teammates, cross-training on and providing coverage for other team duties as required.
Maintaining proficient knowledge of and demonstrating ongoing compliance with all laws and regulations applicable to this position.
Ensuring ongoing adherence to pertinent policies, procedures, and internal controls.
Ongoing focus on risk and fraud mitigation.
Upholding service level standards under normal conditions.
Developing and updating procedures in conjunction with the supervisor and assisting with employee training and onboarding.
Other duties as assigned.

Benefits

Generous Paid Time Off: At least 22 days annually, prorated in the year of hire.
Parental Leave: Six weeks of paid leave at 100% of your salary.
Comprehensive Medical Coverage: Includes employer contributions to HSA for High Deductible Health Plan participants.
Dental and Vision Coverage: Ensuring your overall health and well-being.
Flexible Spending Accounts: For healthcare and dependent care expenses.
Employer-Paid Disability Coverage: Both short-term and long-term, with an option to purchase additional long-term coverage.
Life Insurance: Employer-paid basic life insurance, with an option to purchase supplemental coverage.
Voluntary Benefits: Including hospital, accident, and critical illness coverage.
Retirement Plans: Benefit from a 401(k) plan with employer matching, an optional Roth 401(k), and a pension plan to help secure your future.
Adoption Assistance: Supporting your growing family.
Tuition Reimbursement: Invest in your education and career growth.
Employee Assistance Program (EAP): Access to support and resources.
Pet Insurance: For all your furry friends.
Financial and Banking Services: Various banking services benefits and financial planning assistance.
Paid Sick and Safe Leave: For your health and safety.