Loan Processing Specialist

the Client • Chicago, IL

15h • Hybrid

About The Position

The Loan Operations team is responsible for monetary transactions tied to loans, including initial loan funding, subsequent advances and payments, processing outgoing wires, and the investigation and application of incoming wires, as well as issuing cashier checks for applicable funds. The team also works internally with Deposit Operations, wire room staff, account officers, and client specialists. This position will focus specifically on processing subsequent loan advances and payments. There is no direct client contact — requests are received from the front-end lines of business client specialists through a servicing queue (CWT). The role is responsible for posting and processing complex items and investigating requests to resolve processing errors. The role works within defined parameters to prioritize the workload. The role follows defined procedures to post customer loan payments, loan advances, process wires and transfers, and verify documents, providing prompt service to internal and external clients. The role solves basic to moderately complex administrative issues, ensuring productivity standards are achieved and Service Level Agreements are met or exceeded. You will be responsible for the final step in the process of closing a loan and responsible for disbursement of funds and subsequent servicing of the loan. You'll make sure client satisfaction and productivity standards are achieved and Service Level Agreements (SLA) are met or exceeded by following well-defined procedures and guidelines and escalating issues as appropriate.

Requirements

• Detail oriented and organized
• Ability to work in a fast-paced environment
• Ability to balance different needs and requirements under pressure
• Multitasking
• High school diploma or equivalent (required)
• Minimum 2 years of loan servicing experience
• Banking and banking regulations experience

Nice To Haves

• Working knowledge of IBS (Metavante), ACBS loan system, PCFS, or other comparable loan applications
• Experience processing wire transfers

Responsibilities

• Process subsequent loan advances and payments
• Work requests through the servicing queue (CWT)
• Fund advance requests and debit accounts for payments
• Post customer loan payments, loan advances, process wires, and transfers
• Verify documents and provide prompt service to internal and external clients
• Perform system maintenance
• Process payoffs
• Review reports and investigate unapplied/rejected funds
• Prepare cashier's checks for loan advances
• Monitor incoming wire mailboxes
• Investigate and resolve open reconciliation items
• Complete other tasks as required within Loan Services
• Escalate issues as appropriate to ensure SLA compliance

Benefits

• Medical, Vision, and Dental Insurance Plans
• 401k Retirement Fund

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED