Loan Operations Specialist
About The Position
The Loan Operations Specialist is responsible for the final step in closing loans, including disbursement of funds and subsequent loan servicing. The role is part of Loan Services and includes processing payments and advances, maintaining systems, processing payoffs, reviewing reports, investigating unapplied or rejected funds, preparing cashier’s checks for loan advances, monitoring incoming wire mailboxes, and resolving open reconciliation items. The role also supports other tasks as required within Loan Services. The position is based at CIBC’s 70 W Madison St, Floor 9 location in Chicago, Illinois, and is listed as regular employment with 40 weekly hours. The expected salary range is $55,000–$60,000, based on experience, qualifications, and location. The successful candidate may be eligible for the relevant business unit’s incentive compensation plan, which may include a discretionary bonus. Visa sponsorship is not offered. The incumbent is expected to follow CIBC’s policies, frameworks, guidelines, processes, and controls, act in keeping with the bank’s purpose and shared values, complete required training, manage and escalate risks appropriately, and speak up about conduct or outcomes that may be inconsistent with CIBC’s standards. CIBC describes its benefits and rewards as including medical, dental, vision, health savings account, life and disability insurance, other insurance plans, paid time off including sick leave, parental leave and vacation, holidays, 401(k), banking benefits, wellbeing support, and a social recognition program. The company also describes Purpose Day as a paid day off for personal growth and development, subject to plan and program terms and conditions.
Requirements
- At least 1 year of similar loan service experience.
- Detail-oriented and organized.
- Strong computer skills.
- Working knowledge of the IBS (Metavante) and ACBS loan systems, or other comparable loan applications.
- Must be legally eligible to work at the specified location and hold a valid work or study permit where applicable.
Responsibilities
- Complete the final step in the loan-closing process, including disbursing funds and subsequent loan servicing.
- Process payments and advances.
- Perform system maintenance.
- Process loan payoffs.
- Review reports and investigate unapplied or rejected funds.
- Prepare cashier’s checks for loan advances.
- Monitor incoming wire mailboxes.
- Investigate and resolve open reconciliation items.
- Perform other tasks as required within Loan Services.
- Follow applicable CIBC policies, frameworks, guidelines, processes, and controls; complete required training; manage and escalate risks; and speak up about potentially inappropriate conduct or outcomes.
Benefits
- Competitive salary and potential eligibility for incentive compensation, which may include a discretionary bonus.
- Medical, dental, and vision coverage.
- Health Savings Account.
- Life, disability, and other insurance plans.
- Paid time off, including sick leave, parental leave, and vacation.
- Holidays.
- 401(k).
- Banking benefits.
- Wellbeing support.
- MomentMakers social, points-based recognition program.
- Purpose Day, a paid day off dedicated to personal growth and development, subject to plan and program terms and conditions.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
No Education Listed
