Commercial Loan Servicing Officer

Cathay Bank; Rosemead (CA); On-site; USD 54,000 - 60,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

Life insurance

Long-term disability

401(k) with company contributions

HSA with company contributions

Job summary

Cathay Bank in Rosemead is seeking a Commercial Loan Servicing Officer to handle post-closing duties for the bank's commercial loan portfolio. The role provides support and backup to the Loan Servicing Supervisor and guides less senior specialists.

Responsibilities include complex loan questions, special servicing tasks, GL certifications, and process improvement. The position offers training, steady hours, and a path for growth in a collaborative, client-focused environment.

Qualifications

• Education above; high school diploma or equivalent, some college a plus.
• Minimum 5 years of commercial loan servicing experience.
• Proficiency with MS Office; IBS loan system knowledge a plus; bilingual ability is a plus.

Responsibilities

• Researches and resolve complex internal/external loan questions and discrepancies.
• Take lead in special servicing processes including SBA 1502 reporting and related tasks.
• Prepare GL certifications and support daily balance/reconciliation tasks.
• Review and update procedures to ensure compliance with bank policy and regulations.
• Provide direction and training to staff and assist in projects.
• Review vendor invoices and provide general servicing support, including rate changes and payments.

Skills

PC literate

MS Office

IBS loan system knowledge

Problem solving

Organizational skills

Bilingual English Mandarin Cantonese

Education

High school diploma or equivalent

Some college courses a plus

Tools

IBS loan system

MS Office Suite

Job description

People Drive Our Success

Are you enthusiastic, highly motivated, and have a strong work ethic? If yes, come join our team! At Cathay Bank – we strive to provide a caring culture that supports your aspirations and success. We believe people are our most valuable asset and we proudly foster growth and development empowering you to achieve your professional goals. We have thrived for 60 years and persevered through many economic cycles due to our team members’ drive and optimism. Together we can make a difference in the financial future of our communities.

What our team members are saying:

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GENERAL SUMMARY

Under the supervision of the Loan Servicing Supervisor & Officer within the servicing team and following established policies and procedures, perform all post-closing duties relating to the servicing of the Bank’s commercial loan portfolio according to separation of duties established by the Department Head including but not limited to the following functional duties:

The Commercial Servicing Officer will provide support and direction to less senior Specialists and will step in as back up to the Loan Servicing Supervisor.

DIRECT REPORTS

The incumbent has no direct reports.

ESSENTIAL FUNCTIONS

• Researches and resolve complex internal/external customer questions/discrepancies in loan accounting.
• Play key roles in department projects.

• Monitor the department’s shared email in-boxes and platforms to ensure completion of delegated items.
• Take lead role in special servicing processes that includes:
  • Case Cost Lending
  • SBA 1502 update and reporting
  • SAD processing to include the following:
    • Charge Offs
    • OREO Transfers
    • Accrual Changes
    • Shadow Payment Processing
• Prepare GL Certifications.
• Serve as secondary reviewer and/or back-up of the following:
  • Pay Off Statements
  • FTI Balancing and Releases
  • Daily Index Rate Sheet
  • Established Control Reports
    • Prepayment Penalty Report
    • 85 Day Past Due Report
    • Non-Accrual Exception Report

• Review and update Procedures and Job Aids to Assist management in ensuring loan servicing procedures adhere to bank policy and regulations.
• Responsible for research, review, and resolution of any Loan Servicing issues.
• Assist in short-term and long-term projects.
• Assist the CLS Supervisor in providing direction and guidance to staff in their assigned duties.
• Assist the CLS Supervisor with training and development of the team.
• Assist the CLS Supervisor and the Boarding team with complex research, review, and resolution of any Loan issues.
• Review vendor invoices.
• Provide general support, assistance, and backup for all servicing functions to include the following:

• • Rate Rollovers and Repricing
  • Establish new Rate Contract Sub-Notes
  • Payments
  • Payoffs
  • Loan Advances
  • Pay Off Statement Preparation
  • System maintenance
  • Release of Collateral Review
  • Post Closing/Boarding document and Collateral Review.

QUALIFICATIONS

Education: High school diploma or equivalent; some college courses a plus.

Experience: Minimum of 5 years of commercial loan servicing experience required.

Skills/Ability: PC literate, proficiency with MS Office, knowledge of IBS loan system a plus, ability to work in a fast-paced environment while maintaining a high level of accuracy, strong problem-solving and organizational skills, bilingual (English, Mandarin or Cantonese) is a plus.

Pay Range: $39.42 to $43.27/hour

ON-GOING TRAINING

• Each team member is required to complete all required training including Compliance and Bank Secrecy Act/Anti-Money Laundering training suitable to his or her position within the Bank.

Pay determined based on job-related knowledge, skills, experience, and location. This position may be eligible for a discretionary bonus.

Cathay Bank offers itsfull-timeemployees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

Cathay Bank may collect personal information from potential job candidates and applicants. For more information on how we handle personal information and your applicable rights, please review our California Job Applicant Privacy Policy.

Cathay Bank is an Equal Opportunity and Aff… (the full paragraph should be kept as in the original)

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Cathay Bank endeavors to make www.CathayBank.com accessible to any and all users. If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact, Mickey Hsu, FVP, Employee Relations Manager, at [phone] or [e-mail]. This contact information is for accommodation requests only and cannot be used to inquire about the status of applications.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws.For further information, please review the Know Your Rights notice from the Department of Labor.