Loan Servicing Specialist
Please Enable Cookies to Continue Please enable cookies in your browser to experience all the personalized features of this site, including the ability to apply for a job. Returning Candidate? Loan Servicing Specialist III Location US-CA-El Monte Job ID 2019-7247 Category Other Position Type Full-Time
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 $41 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.
East West Bank is seeking a Loan Servicing Specialist III. The Loan Servicing Specialist III is responsible for a variety of activities to support Loan Servicing with a focus on financial activities for complex lending products. 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 and 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 and other specialty products.
- 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
- 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 with advance Excel skills preferred
- 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
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