Loan Servicing Specialist II

Commercial Bank of California•Irvine, CA

13d•$37 - $42•Hybrid

About The Position

Under minimal supervision and direction of the Loan Servicing Team Lead, the Loan Servicing Specialist II performs post-closing loan servicing duties for the Bank’s real estate, construction, commercial, consumer, SBA, letters of credit, and asset-based loans. The role also processes special handling transactions and special assets activity. Duties include loan boarding and funding at closing, payment processing, billings, paydowns, advances, callbacks, payoffs, balancing, shadow accounting, clearing non-posts, distributing system reports, and posting entries.

Requirements

High school diploma or GED.
At least 5 years of experience in loan processing and accounting, or an equivalent combination of education and experience.
Ability to assess situations and bring them to successful resolution.
Good working knowledge of personal computers and software, and supervisory-level knowledge of loan accounting system functions and procedures.
Knowledge of bank marketing, operations, daily banking functions, customer management, and product delivery.
Knowledge of banking laws, policies and procedures, service, and credit products.
Knowledge of report preparation, analysis and statistics, general accounting, and mathematics.
Ability to enter data using a computer, use a calculator, and operate telecommunications and other office equipment.
Ability to use word processing, spreadsheet, graphics, and database applications, as well as specialized financial systems software.
Ability to plan, organize, and prioritize tasks to meet deadlines.
Ability to lead and motivate employees to complete tasks according to established standards.
Ability to analyze and solve work problems and follow oral and written instructions.
Ability to communicate effectively with coworkers, consultants, regulators, and other parties.
Ability to prepare clear and concise reports, documentation, and correspondence.

Nice To Haves

Proficiency in all loan accounting and servicing functions, particularly commercial/business and real estate lending.

Responsibilities

Process closing paperwork for loan fund disbursements and board new and modified loans in the loan accounting system using the terms in executed loan documents and credit approvals.
Process monetary transactions, including loan payments, advances, paydowns, and payoffs.
Perform loan maintenance, including customer address changes, late charge waivers, automatic payment setup and changes, payment adjustments, payment schedule and billing adjustments, interest changes, tickler updates, and other coding changes.
Prepare payoff or paydown demand letters at the request of title or escrow companies and third-party creditors.
Research and respond to branch personnel’s requests for information, including note histories, billing problems, and payment posting; escalate complex issues as needed.
Process incoming and outgoing wires.
Provide loan servicing support to other departments and business units within approved Service Level Agreements.
Review daily computer-generated reports to ensure general ledger information balances with loan system data; clear non-posted transactions and correct out-of-balance conditions.
Prepare reconveyances for loan payoffs or partial reconveyances as requested by title or escrow companies and third-party creditors.
Prepare monthly certifications.
Understand and ensure compliance with applicable state and federal requirements, bank policies, and regulations, including BSA, AML, CRA, OFAC, and Fair Lending requirements.
Attend training and maintain knowledge of procedures and applicable financial institution laws and regulations, with emphasis on BSA/AML/CIP, Consumer Privacy, Regulation CC, Information Security, Bank Protection Act, FACT-Identity Theft, Information Technology, and GLBA.
Perform other departmental duties as assigned.