Loan Servicing of C&I & CRE Loans
Location - NYC
In general the functions performed by this position are: processing of all payments, establishing loan information on the servicing system (Fiserv), tracking of lines of credit, letters of credit, and processing of loan maintenance items. The position is actively engaged in correspondence with outside agents and services as well as internally with other departments of the Bank
Responsibilities require knowledge and monitoring of industry trends and best practices.
Corresponding with clients in written and verbal forms is required for monitoring of financial and reporting covenants.
Responsibilities also include making general ledger entries and balancing of account.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
" Process loan payments as received from clients and administrative agents
directed to the Bank. Process payments to or from participating Banks and agents.
" Reconciliation of syndication allocations of principal and interest payments
" Processing of Loan Offering Ticket (establishing new loan on the servicing
system), and review of new loan set...up on the servicing system.
" Processing of loan advance offering tickets for drawdowns, rollovers, pay downs,
loan splits, conversions, break funding, rate and spread changes, LC activity, as applicable.
" Verification of Loan Offering Ticket and maintenance items matching the loan
" Review credit agreements to ensure pertinent information is reflected on the
" Review of closing and legal documents at the time of loan establishment on the
" Maintain tracking of collateral documents (UCC filings, mortgages, and other
collateral) in accordance with loan documentation.
" Process loan maintenance changes
" Process loan pay-offs financial transactions
Processing of loan pay-offs - payment, release of collateral, maintenance of loan status.
Process upfront fees or premiums/discounts, commitments, amendment fees, and FASB information.
Conduct necessary balance and rate information investigations and research on participations and syndications including liaise with administrative agent and other participants.
Establish tracking of UCC information on the servicing system.
Perform loan maintenance on the servicing system.
Review and verify accuracy of billing statements for direct and agent loans Participate in testing and the implementation of new technology applications Annual review date tracking Appraisal review ordering Clear Par -Funding of all C& I loans Movement of paid off credit files- electronic - C & I Processing of maintenance changes C & I Loans Property Inspection ordering Property Inspection tracking report Tracking of financial requirements - system data maintenance Ticking Fees - C & I loans
* In conjunction with Credit Administration, establish loan information on the servicing system (Fiserv) and review all closing documents.
* Perform quality control of Loan Offering Tickets and closing documents.
* Verification that loan note and other closing documentation conform to computer system information established. Review, cite and clear exceptions for closing binders, unrecorded documents, expired insurance certificates and additional closing documents
* Review tax reports from tracking agents; correspond with clients and management on any deficiencies.
* Review UCC reports from tracking agents; correspond with clients and management on any deficiencies.
* Review flood-tracking reports from tracking agents; correspond with clients and management on any deficiencies.
* Provide loan servicing account and portfolio monthly activity reports to the Chief Credit Officer, Deputy Chief Credit Officer, and other Senior Management as needed.
Po/icy and Procedures:
* Assemble and maintain information for input and maintenance of the Loan
Servicing Procedure Manual.
* Maintain familiarity with the Bank's credit policies.
* Assist in systems and operations improvements in the furtherance of efficient
control of the loan servicing process
* Maintain current knowledge on regulatory requirements as established in the
credit policies and procedures of the Bank
Maintain familiarity with Local, State, and Federal rules and regulations dealing with OFAC, KYC, BSA, and customer / agent contact.
* Attend training classes as directed by management. Participate in the Banks'
online and in person training classes. When required, gain a passing grade on all in-'house compliance training test administered
* Must have experience in the areas of Fiserv loan servicing system.
* Minimum 3 years' experience in Loan Servicing functions.