JOB SUMMARY

The Loan Operations Specialist will be responsible for performing a variety of duties to support the loan operations function. She/He/They will be responsible for processing all syndicated and

bi-lateral loan transactions to ensure timely disbursement of funds processed through SIRE and the LoanIQ loan management system. The Loan Specialist will perform all operational tasks associated with the loan transaction, including loan account reconciliation and the processing of associated loan fees. The Loan Specialist will respond to inquiries or requests for information from internal and external counterparties and will report pertinent information to the head of department.

SPECIFIC ACCOUNTABILITIES

Processing Loan openings, closings and rollovers in SIRE or LoanIQ
Ensure loan related transactions are properly entered in SIRE or LoanIQ
Processing discounts, acceptances and Trade Bills, including Supply Chain receivables purchased via various trading platforms.
Adherence to/completion of AML/OFAC controls including monitoring for “red flags” and referring to Compliance Department as needed.
Ensure client and participant notices/confirmations (loans, interest and/or fees) are completed and forwarded in a timely manner
Tracking and controlling the receipt and payment of principal and interest.
Tracking and controlling receipt and payment of loan fees, including but not limited to commitment fees, agent fees, facility fees, etc.
Investigating and reporting discrepancies.
Tracking and controlling facilities in which the bank acts as the agent Bank.
Reconciliation of receivable settlements including buffer accounts where appropriate.
Clear open items and daily exceptions
Maintaining operational loan files as well as archiving.
Follow-up late payments, missing interest and/or fees with clients or agent banks, as required.
Enter upfront/amendment fee information in LoanIQ
Enter LIQ Form information in LoanIQ

KNOWLEDGE AND SKILLS

Complete knowledge of loan processing, practices, applications and procedures.
Understanding of loan products including receivables, syndicated facilities and fee structures.
Thorough knowledge of BSA/AML/OFAC rules and regulations, KYC policies and procedures.
Proficient in Microsoft Office suite of products (especially Excel) and the use of SIRE for loan processing and LoanIQ
Detail oriented in order to identify discrepancies in notices and payments. They must be proficient in the reconciliation of “Nostro”, and Sundry accounts.

QUALIFICATIONS AND/OR SPECIAL REQUIREMENTS

Minimum of five years previous experience in the area of loan processing.
Detailed oriented and accurate with a strong work ethic.
Organizational and follow-up skills
Ability to multitask, work independently or as a member of a team in a fast paced environment and meet strict deadlines.

COMMUNICATION

Good verbal skills to communicate effectively with immediate superiors, Loan Officers, Treasury and a wide variety of external organizations including Agent banks concerning the processing of loans and funds transfers.

EDUCATION

Bachelor’s degree in finance, accounting, economics preferred
High School Diploma or equivalent with appropriate industry experience a minimum.

In-Office

Temp

Pay rate: $30 - $45 per hour

MJ Boyd Consulting

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Loan Operations Specialist