Loan Processor I

About the position

The Loan Processor I position at City National Bank is a critical role responsible for the comprehensive review, boarding, and funding of loans and renewals stemming from loan agreements. This position entails a variety of responsibilities that ensure the smooth processing of loans, including the meticulous review of all requests for boarding and funding, processing advances, payments, and payoffs across various loan products. The Loan Processor I will also be tasked with setting up and maintaining Guarantor records within the loan system, as well as calculating and adjusting interest and fee accruals. A key aspect of this role is balancing work and preparing appropriate general ledger entries to various cost centers as required. In this role, the Loan Processor I will board new loans and process renewals from loan agreements, notes, and other loan documents. This includes completing data entry and processing the corresponding general ledger entries with appropriate offsets. The position requires setting up customer accounts, commitment, and note records on the loan system, as well as processing initial funding requests and accounting for the collection of applicable fees and charges, such as unused commitment fees and usage fees. The Loan Processor I will also be responsible for reviewing all legal documentation prior to boarding and funding, processing production loans with interest reserves, and maintaining Guarantor records on the loan system. Daily financial transactions must be balanced online from the system of record, ensuring that entered transactions, including offset entries, align with system-calculated totals. The role requires ensuring receipt and verification of proper approvals before processing waivers and any unusual transactions, as well as maintaining a waiver approval file. Additionally, the Loan Processor I will calculate and process accrual and fee adjustments, along with any other reconcilement work assigned. The position involves reviewing and processing exception reports periodically, identifying and resolving payment processing or reconcilement issues, and determining the causes of rejected items to correct them based on established Bank policies. The role also includes sending outgoing wires using wire/TNET software and maintaining a proactive commitment to established bank programs, such as the Community Reinvestment Act (CRA) and Affirmative Action. Compliance with all Bank Operational and Credit policies and procedures, as well as regulatory requirements, is essential. The Loan Processor I will also complete special projects as requested.

Responsibilities
? Boards new loans and processes renewals from loan agreements, notes, and other loan documents.
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? Completes data entry and processes appropriate general ledger entries with corresponding offsets.
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? Sets up customer account, commitment, and note record on the loan system.
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? Processes initial funding as requested and accounts for collection of fees and charges as applicable, including unused commitment fees and usage fees.
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? Reviews all legal documentation prior to boarding and funding.
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? Processes production loans with interest reserve.
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? Maintains Guarantor records on the loan system and performs all maintenance work relating to loans as required.
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? Balances daily financial transactions online from the system of record.
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? Ensures entered transactions including offset entries are balanced compared to system calculated totals.
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? Ensures receipt and verification of proper approvals prior to processing waivers and any unusual transactions.
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? Maintains waiver approval file.
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? Calculates and processes accrual and fee adjustments and any other reconcilement work that is assigned.
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? Reviews and processes exception reports on a periodic basis.
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? Identifies and resolves any payment processing or reconcilement problems.
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? Determines causes of rejected items, resolves problems, and corrects rejects based on established Bank policies.
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? Sends outgoing wires using wire/TNET software.
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? Maintains a proactive commitment to established bank programs, such as Community Reinvestment Act (CRA) and Affirmative Action.
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? Complies fully with all Bank Operational and Credit policies and procedures as well as all regulatory requirements.
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? Completes all special projects as requested.

Requirements
? H.S. Diploma required.
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? Minimum of 1 year loan processing experience in a financial institution required.
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? Minimum of 2 years of basic computer experience (e.g. Microsoft Word, Excel, Outlook) required.
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? Ability to interact effectively with all levels of Bank personnel.
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? Must be able to multi-task and handle a heavy volume of transactions.
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? Basic computer knowledge and general office equipment knowledge required.

Nice-to-haves
? Knowledge of M&I Loan System and AFS preferred.

Benefits
? Competitive salary based on skills and experience.
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? Eligibility for bonus and/or commissions.
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? Comprehensive benefits package including health insurance, retirement plans, and paid time off.
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? Opportunities for professional development and career growth.

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