Loan Boarding Specialist Senior

City National Bank • Los Angeles, CA

2d • Onsite

About The Position

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.

Requirements

• Bachelor's Degree or equivalent
• Minimum 5 years of loan processing experience in a financial institution required.
• Minimum 2 years of basic computer experience(e.g. Microsoft Word, Excel, Outlook) required.
• Comprehend and interpret language within credit agreements –both prepared in-house or by various attorney firms, where terminology and format may differ.
• Communicate directly with various bank groups, such as Business lines, and CLC support teams to resolve questions which may arise from the loan boarding process.

Responsibilities

• Set up all entities, including borrowers, co-borrowers, and guarantors.
• Ensure CIS records have been established prior to funding the loan.
• Be familiar and understand FASB91 and GAAP accounting guidance related to treatment of fees/costs for new loans.
• Determine if a change in renewed or significantly modified loans 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 accuracy of entered pricing (All-in Rate, Margin, and Index, teaser rates, LIBOR pricing options, as applicable) and repayment schedules (Interest only period, repayment terms).
• 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 may 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: Senior