Loan Servicing Specialist III

East West Bancorp, Inc. El Monte , CA 91731

Posted 3 days ago

Overview

For more than 40 years, East West Bank has served as a pathway to success. With over 130 locations across the U.S. and Greater China, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities. And our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, high-tech and aviation help build sustainable businesses and expand our employees' potential for career advancement.

Headquartered in California, East West Bank (Nasdaq: EWBC) is a top performing commercial bank with an exclusive focus on the U.S. and Greater China markets. With assets of $37.7 billion, we're ranked among the 30 largest banks in the United States and currently top 5 in "America's 100 Best Banks" by Forbes, a list where we've consistently been in the top 15 since 2010. With a strong foundation, an enterprising spirit and a commitment to absolute integrity, East West Bank gives people the confidence to reach further.

The Loan Servicing Specialist III is responsible for a variety of activities to support Loan Servicing with a focus on financial activities. The responsibilities for this role include but are not limited to; Advances on C & I loans ensuring advance requirements have been met, activities on Trade Finance Lines of credit including booking of Letters of Credit within availability of the established commitments, Interest Rate Roll Over, Demand and Payoff statements and payoff processing, reconciliation to General Ledger at end of day balancing. The position may be responsible for performing research on standard loans and portfolio scrub with QC reports and perform Equipment Leasing Servicing.

Responsibilities

  • Process all Commercial Loan Advances on Commercial and Industrial Loans and Specialty Financing ensuring advance requirements have been met, funds are available with proper signing authority by reviewing the Business Loan Agreement.

  • Monitor LIBOR, or other Index, repricing and quote rate and reset the rates on the loan system ensuring proper effective dates based on the Notes and Loan Agreement.

  • Process Commercial Loan Payments and loan recoveries.

  • Process all Trade Finance Activities on the Commercial Loan system including; Advances, Letters of Credit, Trust Receipts, Bankers Acceptances, etc. ensuring proper availability and credit approval.

  • Set up Collateral Record on Cash Secured letters of credit and place hold on Deposit Account

  • Process Interest Reserve payments on Construction Loans

  • Process Commercial Loan Demand Statements ensuring all principal and interest are included and inclusive of all appropriate fees

  • Process Commercial Loan Payoffs and closing of commitments.

  • Prepare Wire Instructions and input into the Wire System and/or Credit Funds to the borrower's deposit account

  • Process miscellaneous maintenance transactions

  • May process Specialty Servicing activities such as; Equipment Leasing, Insurance Premium portfolio

  • Perform End-of-Day balancing ensuring all activities are reconciled with the General Ledger

  • Respond to internal customer inquiries

  • Provide guidance and training to junior Loan Servicing Specialist

  • Work on special projects as assigned by Manager related to the Data Accuracy and accurate compliance requirements.

  • Perform other duties as assigned

Qualifications

  • Bachelor Degree in Finance or Accounting Degree preferred, or equivalent work related experience

  • Minimum 5 years of experience in the Loan Servicing Industry

  • Loan system experience required including document imaging system

  • Thorough understanding of Business Loan Agreement and its covenants and provisions relative to loan advances

  • Knowledge to C&I loan structure and risks, including trade finance loan structures

  • Proficient in Microsoft Office

  • Excellent written and verbal communication skills required

  • Good organizational, analytical and problem solving skills

  • Ability to handle multiple tasks with excellent attention to detail

  • Ability to organize and maintain a high volume work environment

  • Ability to adapt quickly to changes and perform in a fast paced environment

  • Ability to build effective relationships as needed to effectively address issues and obstacles

icon no score

See how you match
to the job

Find your dream job anywhere
with the LiveCareer app.
Mobile App Icon
Download the
LiveCareer app and find
your dream job anywhere
App Store Icon Google Play Icon
lc_ad

Boost your job search productivity with our
free Chrome Extension!

lc_apply_tool GET EXTENSION

Similar Jobs

Want to see jobs matched to your resume? Upload One Now! Remove
Loan Servicing Specialist IV

East West Bancorp, Inc.

Posted 5 days ago

VIEW JOBS 3/19/2019 12:00:00 AM 2019-06-17T00:00 Overview For more than 40 years, East West Bank has served as a pathway to success. With over 130 locations across the U.S. and Greater China, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities. And our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, high-tech and aviation help build sustainable businesses and expand our employees' potential for career advancement. Headquartered in California, East West Bank (Nasdaq: EWBC) is a top performing commercial bank with an exclusive focus on the U.S. and Greater China markets. With assets of $37.7 billion, we're ranked among the 30 largest banks in the United States and currently top 5 in "America's 100 Best Banks" by Forbes, a list where we've consistently been in the top 15 since 2010. With a strong foundation, an enterprising spirit and a commitment to absolute integrity, East West Bank gives people the confidence to reach further. The Loan Servicing Specialist IV is responsible for the more complex activities within Loan Servicing with all related research and compliance with applicable laws and regulations. The position may be responsible for Loan Sales/Purchases and its Investor Reporting. The position may include responsibilities for the troubled debt transaction processing including restructuring, charge-off, non-accrual and shadow accounting. Responsibilities include research and monitoring in any of the activities relating to Loan Servicing such as; Tickler Monitoring, Credit Bureau reporting and disputes, loan restructuring, IRS reporting, etc. Responsibilities * Process all activities related to Loan Sales and Purchases, this includes but is not limited to booking of the transactions, establishing premium or loss, perform on going G/L reconciliation and remittance with all investor reporting. * Process charge-off entries and its related entries to ensure proper shadow accounting in the bank's G/L and loan recoveries. * Monitor on-going Loan ticklers and process necessary transactions and maintenance to ensure data integrity and proper accounting for the loan terms and conditions. * Monitor on going exception reporting related to Fees, Billing, loan structure, Credit Bureau reporting, etc. * Research complex transactions related to activity impacted by highly regulated processes, such as; SBA, Credit Bureau reporting, Accounting principles, etc. . * Respond to all customer inquiries with dispute to Credit Bureau, and other elements related to the loans. * Reconstruct loans with customer and/or relationship manager dispute. * Provide guidance to junior loan servicing specialist to process loan adjustments or may process upon research result. * Provide guidance and training to other Loan Servicing Specialist * Provide guidance to System Administrator to ensure bank control has proper set up for fees, Note Type, Credit Bureau Reporting, etc. for proper reporting and servicing of loans. * Create Management reports as requested * Review existing procedures and enhance/create as necessary to ensure on going compliance * May provide User Acceptance Testing on the loan System based on new products and/or processes * Work on special projects as assigned by Manager related to the Data Accuracy and accurate compliance requirements. * Maintain knowledge for all regulatory requirements applicable to the job, this may include and is not limited to; Bankruptcy, SCRA, FCRA, BSA/BO, etc. and ensure compliance with all applicable procedures, State and Federal laws. * Perform other duties as assigned Qualifications * Bachelor Degree in Finance or Accounting Degree preferred, or equivalent work related experience * Minimum 7 years of experience in the Loan Servicing Industry * Knowledge of BSA/AML/OFAC Laws/Regulations, understand how these obligations relate to his/her role, and comply with these laws and regulations * Knowledge of Credit Bureau Reporting * Loan system experience required * Proficient in Microsoft Office with advanced Excel skills required * Excellent written and verbal communication skills required * Good organizational, analytical and problem solving skills * Ability to handle multiple tasks with excellent attention to detail * Ability to organize and maintain a high volume work environment * Ability to adapt quickly to changes and perform in a fast paced environment * Ability to build effective relationships as needed to effectively address issues and obstacles East West Bancorp, Inc. El Monte CA

Loan Servicing Specialist III

East West Bancorp, Inc.