Commercial Loan Boarding Specialist

City National Bank; Jacksonville (FL); On-site; USD 34,000 - 51,000; Full time

Benefits offered by this job

Comprehensive healthcare coverage

Generous 401(k) matching

Tuition reimbursement and training

Paid time off

Career development opportunities

Diversity and inclusion programs

Job summary

City National Bank is seeking a Loan Boarding Specialist in Jacksonville, FL to review requests for boarding and funding, ensuring completeness and accuracy. You will board new and renewed loans, process advances, payments, and payoffs, and maintain guarantor records.

Proficiency in GAAP/FASB guidance and accurate pricing and schedules are essential. You will handle OFAC, CIS, and GL entries, and support reporting with attention to detail.

Qualifications

• Bachelor's Degree or equivalent required.
• Minimum 3 years loan processing experience in a financial institution.
• Minimum 2 years basic computer experience with Word, Excel, Outlook.

Responsibilities

• Set up loan accounts, OFAC reporting, and CIS record maintenance.
• Ensure accounting guidance on fees, interest, and amortization are followed.
• Verify pricing, repayment schedules, and generate accurate entries.
• Enter data for reporting and fund loans per disbursement authorization.
• Balance work and prepare GL entries to cost centers as required.

Skills

Communication

Multi-tasking

Detail oriented

Time management

Numerical accuracy

Education

Bachelor's degree or equivalent

Tools

Word

Excel

Outlook

WordPerfect

Job description

LOAN BOARDING SPECIALIST

WHAT IS THE OPPORTUNITY?

Reviews all requests for boarding & funding for approval, completeness & accuracy. Boards new and renewed consumer, commercial and mortgage loans. Processes advances, payments & payoffs on various loan products. Maintains Guarantor records on the loan system. Performs all maintenance, calculate and adjust interest and fee accruals. Determines causes of rejected items and process corrections. Balances work and prepare appropriate GL entries to various cost centers as required.

WHAT WILL YOU DO?

• Loan Account Set Up and OFAC Reporting and Compliance – Set up all entities, including borrowers, co-borrowers, and guarantors. Additionally, for all parties to the credit, ensure CIS records have been established prior to funding the loan. Recognition of the parties to the loan is determined from the CIS Addendum. Obtain waivers from compliance as needed.
• Loan Boarder is responsible to be familiar and understand FASB91 and GAAP accounting guidance related to treatment of fees/costs for new loans. For loans that are renewed, or significantly modified, loan boarder must determine if change is considered significant based upon comparison of cash flows in determining if fees can be taken into income or must be amortized over the life of renewed/modified loan.
• Pricing and Repayment Schedules – Loan Boarder is responsible to ensure for the accuracy of the entered pricing (All-in Rate, Margin, and Index, teaser rates, LIBOR pricing options, as applicable) and repayment schedules (Interest only period, repayment terms (Mortgage style amortization. Straight-line amortization, 12-month average amortization schedule, and SWAP related schedules, all of which may be customized for each particular client.
• Reporting requirements – Loan Boarders are responsible to enter critical information for reporting purposes gleaned and/or translated from the Credit Approval Document, Loan Documentation Checklist, or other documents which supports governmental, regulatory, and General Ledger/Financial and management reporting
• Loan Funding – Fund loan based upon disbursement authorization. Set up future disbursement account in ALDO as applicable. Funding make take the form of an out-going wire, credit to a demand deposit account, issuance of Cashier’s Checks or offset to payoff/pay down an existing loan.

WHAT DO YOU NEED TO SUCCEED?

Required Qualifications*

• Bachelor's Degree or equivalent
• Minimum 3 years of loan processing experience in a financial institution required.
• Minimum 2 years of basic computer experience(e.g. Microsoft Word, Excel, Outlook) required

Additional Qualifications

• Ability to communicate effectively.
• Able to handle a heavy volume of transactions and multiple tasks.
• Detail oriented with strong follow-up skills.
• Able to manually compute accrual adjustments.
• Ability to operate Personal Computers and WordPerfect/Word Programs.
• Able to operate calculators, encoding, fax and copying machines.

WHAT'S IN IT FOR YOU?

Compensation

Starting base salary: $24.46 - $36.69 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

Benefits and Perks

Benefits

At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

Get a more detailed look at our Benefits and Perks.

About Us

Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT

City National Bank foster an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law.

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

• Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.

Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.