Loan Servicing Specialist III

Banterra Bank; Marion (IL); On-site; USD 17,000 - 26,000; Full time

Benefits offered by this job

Health insurance

Retirement plans

Paid time off

401(k) plan

Job summary

Banterra Bank in Marion, IL seeks a Loan Servicing Specialist to handle general loan servicing duties and prepare complex loan documentation for commercial and consumer loans. You will ensure accurate data entry in core systems and maintain complete loan records.

The role requires attention to detail, organizational skills, and ability to handle SBA loans and multifaceted rate structures. Prior banking experience is preferred, with opportunities for professional growth within Loan Operations.

Qualifications

• High School diploma or equivalent.
• Two years’ banking experience and/or two years of training in loan operations.
• Proficiency with Microsoft Office suite and core banking tools.

Responsibilities

• Input data accurately into Bank systems and databases.
• Review loan file adjustments for accuracy and policy compliance.
• Review loan payments for accuracy and correct posting errors.
• Maintain core processing system with correct index values for interest accrual.
• Respond to complex loan inquiries with accurate solutions.
• Analyze escrow accounts and postings; balance and disburse as needed.
• Prepare complex loan documents for commercial and consumer loans with required approvals.
• Onboard SBA lending and complex loan structures with attorney-prepared docs.
• Ensure terms and conditions match loan agreements and policies.
• Maintain complete and up-to-date credit and collateral files.

Skills

Strong organizational skills

Attention to detail

Problem solving

Written communication

Education

High School diploma or equivalent

Tools

Microsoft Office (Word Outlook Teams Excel)

Job description

• Pay or shift range: $17.13 USD to $19.69 USD
  The listed range is the estimated amount for this position. Final offers are based on various factors, including skill set, experience, location, qualifications and other job-related reasons.

Description

Pay Range: $17.13USD to $19.69USD

Summary: Responsible for performing general loan servicing duties. Preparation of complex consumer and commercial loan documentation, adjustments to loan files and related data in core processing system, and maintaining accurate records, all while ensuring accuracy and completeness.

Responsibilities: include but are not limited to the following. Other duties may be assigned.

• Input data accurately and efficiently into the various systems and databases utilized by the Bank.
• Review loan file adjustment requests for accuracy and policy compliance prior to inputting into core processing system.
• Review loan payment transactions for accuracy and identify and correct posting errors.
• Update Bank’s core processing system with index values used for interest accrual calculation.
• Respond to complex loan inquiries from Bank team members and provide accurate responses or viable solutions to problems.
• Escrow account analysis, disbursement, balancing, and posting.
• Complete necessary research and provide professional responses to both internal and external customer inquiries.
• Prepare complex loan documents with complex ownership structures for commercial and consumer loans, ensuring that all necessary documentation has been collected, approvals have been granted, and all standard compliance requirements have been fulfilled.
• Onboard complex loan transactions such as SBA Lending, loans with attorney prepared documents, complex loan participation structures, and loans with multifaceted rate structures and payment streams.
• Verify that the Bank’s core processing system accurately reflects the terms and conditions of all loan agreements while ensuring adherence to Bank policy.
• Complete the loan file review process and identify and track missing documentation.
• Maintain systems and controls that ensure complete and accurate credit and collateral files on an ongoing basis. This includes maintaining collateral insurance coverage, tracking and perfecting collateral documents, maintaining complete and current financial information and other credit documentation.
• Review and understand loan exception reports and complete necessary research to make corrections.
• Create, compile, and interpret detailed reports for Loan Operations.
• Complete various complex general ledger and DDA reconciliation functions, both daily and monthly.
• Create and edit integrated general ledger lines.
• Assist with the purchase and sale of loan pools and associated intricate servicing requirements.
• Act as a resource and assist other Loan Operations team members with various job functions.
• Prepare written procedures and maintain process documentation.
• Participate and identify process improvement discussions to identify efficiencies in workflow and improve quality.

All employees are expected to protect the information and assets of the organization through heightened awareness of information security, cyber security, and risk management best practices, as well as complying with all applicable laws, regulations, and organizational policies.

Qualifications and Skills: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills and abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Education/Experience:

• High School diploma or equivalent.
• Two years’ banking experience and/or two years of training in loan operations.

Knowledge/Skills/Abilities:

• Must successfully meet the requirements of Loan Servicing Specialist I & II positions.
• Strong organizational skills and attention to detail.
• Ability to problem solve, prioritize tasks, and meet required deadlines.
• Ability to respond to common inquiries or complaints from customers, co-workers, or vendors.
• Ability to write routine correspondence and communicate effectively and tactfully, orally and in writing with employees, customers, vendors and management.
• Ability to define problems, collect data, establish facts and draw valid conclusions.
• Must understand and comply with company policies and procedures.
• Ability to maintain a friendly, helpful and courteous attitude when working with customers or co-workers under diverse conditions.
• Ability to accurately and quickly complete standard mathematical and finance related calculations.
• Ability to apply concepts such as fractions, percentages, ratios and proportions to practical situations.
• Ability to use a calculator, computer, and applicable software.
• Ability to use Microsoft Office Programs, specifically Word, Outlook, Teams and Excel.
• Must have the ability to learn and operate various databases and loan origination software systems.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The employee must have the ability to lift and carry 25 pounds for a distance of 50 feet.

NOTE

This job description in no way states or implies that these are the only duties to be performed by the employee(s) incumbent in this position. Employees will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments.

All duties and responsibilities are essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities. To perform this job successfully, the incumbents will possess the skills, aptitudes, and abilities to perform each duty proficiently.

Some requirements may exclude individuals who pose a direct threat or significant risk to the health or safety of themselves or others.

The requirements listed in this document are the minimum levels of knowledge, skills, or abilities. This document does not create an employment contract, implied or otherwise, other than an “at will” relationship.

The company is an Equal Opportunity Employer, drug-free workplace, and complies with ADA regulations and other laws/regulations as applicable.

Benefits: We are dedicated to creating a workplace where all team members feel valued and empowered. Our employee benefits promote well-being and professional growth, including insurance options, retirement plans, and career development opportunities included approved company paid training. Benefits include paid time off, medical, dental, vision and life insurance, 401(k) plan, tuition assistance, and more.

Qualifications

Education

Preferred

High School or better.

Experience

Preferred

Two years’ banking experience and/or two years of training in loan operations.

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.