Loan Processing Clerk

Amalgamated Bank of Chicago; Chicago (IL); On-site; USD 55,000 - 65,000; Full time

Job summary

Amalgamated Bank of Chicago in Chicago, IL is seeking a Loan Processing Clerk to handle loan transactions and GL reconciliation within Loan Operations. The role emphasizes accuracy and timely processing.

Responsibilities include verifying documents, coordinating with loan officers, ensuring timely fund transfers, communicating with insurance agents, and preparing payoff letters. We value teamwork, compliance, and strong communication.

Qualifications

• High school diploma or equivalent is required.
• Associate's degree in business or accounting preferred.
• Three years banking experience including loan processing and accounting.
• Proficient with Microsoft 365.
• Excellent written and verbal communication skills.

Responsibilities

• Balances and reconcile loan receivables and related GL items.
• Receives loan documentation from loan officers for new notes and renewals, verifying information for accuracy.
• Performs functions for loan participation with other banks and ensures timely fund transfers.
• Sends statements and notices detailing maturing notes and regular payments to loan officers.
• Maintains filing system for notes and documentation and distributes departmental reports.
• Acts as vault custodian and maintains control over negotiable instruments.
• Assists officers with issue investigations and borrower inquiries resolutions.
• Prepares corrected bills on problem accounts and balances note monetary transactions.
• Communicates with insurance agents to obtain evidence of insurance for loan collateral.
• Aids loan officers in researching and clearing exception items.
• Creates spreadsheets to reconcile contracts to the system.
• Prepares loan payoff letters upon request and generates release documents.
• Reviews and distributes statements and year-end notices.

Skills

Banking experience

Loan processing

Communication skills

Microsoft 365

Attention to detail

Education

High school diploma or equivalent

Associate's degree in business or accounting

Tools

Microsoft 365

Job description

• Location 30 N. LaSalle St.,Chicago, IL, 60602,United States
• Base Pay $55,000.00 - $65,000.00 / Year
• Employee Type FT Union Non-Exempt

Description

For over 100 years, ABOC has fostered deep ties with our customers and our community, serving the banking needs of countless businesses, organizations, institutions, and individuals, many for multiple generations. These relationships are based on profound trust, in-depth understanding and highly personal and responsive service provided by our experienced bankers.

We take tremendous pride in being a great place to work! We value the contributions our employees bring to the table every day. We work hard to nurture and maintain a mutually respectful, diverse culture that fosters teamwork and a commitment to exceptional customer service.

ABOC looking for a Loan Processing Clerk.This position is responsible for processing transactions and general ledger (GL) reconciliation related to customer loan accounts within Loan Operations.

RESPONSIBILITIES:

• Balances and reconcile loan receivables (including resolving loan reconciliation items to assigned GL accounts after investigation).
• Receives loan documentation from loan officers for new notes and renewals, verifying information for accuracy and processes.
• Performs various functions for loan participation with other banks and ensures that fund transfer occurs on a timely basis.
• Send statements and notices to customers detailing maturing notes and regular payments and payoff figures to loan officers.
• Maintains filing system for notes and other documentation and separates and distributes departmental reports.
• Acts as vault custodian through maintenance of control over negotiable instruments.
• Assists bank officers with issue investigations and subsequent resolution of borrower inquiries.
• Prepares corrected bills on problem accounts and payments.
• Balances note monetary transactions.
• Communicate with insurance agents to obtain evidence of insurance for Bank's loan collateral within time parameters and aids loan officers in working through and resolving any insurance exceptions.
• Aids loan officers in researching and clearing all exception items.
• Creates and/or utilizes spreadsheets to reconcile contracts to the system.
• Prepares loan payoff letters upon request.
• Generates release documents accurately and timely in accordance with Bank policy and procedures.
• Reviews and distributes statements and year-end notices (including preparation of corrected statements and notices).
• Assists department with issues and projects.
• Performs other related duties as assigned.

REQUIRED EDUCATION, EXPERIENCE AND SKILLS:

• High school diploma or equivalent (required)
• Associate's degree in business or accounting (preferred)
• Three years of banking experience which includes processing using banking software-loan, accounting or transactional (required)
• Microsoft 365 Experience
• Excellent communication skills, both written and verbal.

We are an equal opportunity employer and value diversity, equity, and inclusion at our company. We do not discriminate based on any protected category. We will ensure that individuals with disabilities are provided with reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.