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backoffice, Finance

Loan Document Specialist

New York

Loan Document Specialist

  • Location: Chesterfield., MO , in office 1-2 times a week
  • Contract Duration: 2 months with potential to extend but will be based on work volume
  • Job Types: Full-time, Contract, Temporary
  • Salary: Up to $25.00 per hour
    • Dental insurance
    • Health insurance
    • Vision insurance Benefits:

The Loan Specialist II performs a variety of more complex “back office” functions related to servicing booked and active loans in the Direct Lending and Vendor Finance portfolios primarily dealing with internal departments and customers.

Primary functions include receipts and disbursements processing and audit and review functions.

Key Responsibilities and Accountabilities:

Receipts Team Responsibilities:

  • Prepare/Review loan payoff calculations.
  • Process buy and sell syndication transactions. Provide accurate and timely notifications to syndication partners.
  • Process monthly repricing and notifications on participated loans.
  • Provide support to Customer Support Team and Customer Relationship Team staff inquiries.
  • Cross train and perform secondary/backup duties related to all aspects of the receipts team.
  • Complete daily balancing activities.
  • Complete system enhancement testing.
  • Maintain process and procedures of all areas of responsibility within the receipts team.
  • Calculate amortization schedules.
  • Review daily reports for processing exceptions.

Disbursements Team Responsibilities:

· Process buy and sell syndication transactions. Provide accurate and timely notifications to syndication partners.

· Provide support to Customer Support Team and Customer Relationship Team staff inquiries.

· Cross train and perform secondary/backup duties related to all aspects of the disbursements team.

· Complete system enhancement testing.

· Maintain process and procedures of all areas of responsibility within the disbursements team.

· Review daily reports for processing exceptions.

· Train new associates.

· Calculate and initiate daily ACHs and wires to investors. Book transfers between accounts.

· Collect, retain bank, and update daily reports from US Bank and RNA, prepare journal entries.

· Estimate and request from Treasury, daily cash needs.

· Update Bank Transaction Journal Entries.

Job Skills and Knowledge:

Essential:

  • Ability to read, analyze, and interpret loan documents and loan system data fields and governmental regulations.
  • Ability to write basic business correspondence.
  • Ability to speak effectively with individual customers or employees of the Bank.
  • Ability to calculate figures and amounts such as discounts, interest, and percentages.
  • Ability to solve practical problems and deal with a variety of situations where only limited standards exist.
  • Ability to interpret a variety of instructions furnished in written or oral form.

Qualifications:

Essential:

  • Associate degree in accounting, finance, or business administration with 2-5 years of experience or Bachelor’s Degree with 0-2 years of experience.
  • Working knowledge of Microsoft Office Suite required with special emphasis on Excel spreadsheet skills.
  • Ability to independently create and maintain spreadsheets.

Desirable:

  • At least 1-3 years of work experience preferred, with emphasis in banking, finance, or accounting environment.
  • Familiarity with Continuous Improvement, Six Sigma, Lean or Lean Six Sigma.
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