Loan Processing & Reconciliation Specialist

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

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.