Operations Specialist II

Eastern Bank; Massachusetts; On-site; USD 87,939,000 - 109,917,000; Full time

Benefits offered by this job

Robust benefits

Retirement plan

Job summary

Eastern Bank is seeking a detail-focused Loan Operations Specialist to support the booking, maintenance, and servicing of complex commercial lending relationships. The role handles transactions in the core loan system, books new loans and modifications, and assists with investor reporting and reconciliations.

The successful candidate will leverage strong knowledge of loan accounting, amortization, interest accruals, and payment application while ensuring accuracy in a fast-paced, controlled

Qualifications

• Bachelor’s degree in business, finance, accounting, economics, or related field preferred.
• 5+ years of experience in commercial loan operations, loan servicing, accounting operations, syndicated lending, or a related banking function.
• Experience with core loan systems and general ledger reconciliation processes preferred.
• Strong written and verbal communication skills.
• Ability to work independently while collaborating across multiple business lines.

Responsibilities

• Book and maintain commercial, syndicated, participated, and institutional loans.
• Process loan modifications, renewals, extensions, amendments, rate changes, funding transactions.
• Process loan payments, advances, paydowns, payoffs, fees.
• Review and reconcile loan balances, accruals, and activity.
• Research and resolve general ledger variances and discrepancies.
• Support portfolios and investor reporting.
• Ensure servicing terms match contractual terms in the system.
• Collaborate with banks to ensure accurate servicing and reporting.
• Analyze and resolve loan servicing exceptions.
• Prepare internal audits and regulatory reviews.
• Maintain adherence to established procedures and risk management.

Skills

Attention to detail

Analytical thinking

Communication skills

Independent worker

Education

Bachelor’s degree in business/finance

Tools

Core loan systems

General ledger reconciliation

Job description

Pay Range

Pay Range: $30.69- $38.36

The posted salary range reflects Eastern’s expected hiring range. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply. Eastern offers a robust benefits and retirement package. Please see the description of benefits included with this job posting for additional information.

Job Overview

Eastern Bank is seeking a detail-oriented and highly analytical Loan Operations Specialist to support the booking, maintenance, and servicing of complex commercial lending relationships within our Loan Operations organization. This role is responsible for accurately processing financial transactions in the core loan system, booking new loans and modifications, supporting syndicated and institutional loan portfolios, performing loan accounting and general ledger reconciliations, and ensuring the integrity of loan data throughout the full loan lifecycle.

Key Responsibilities

• Book and maintain commercial, syndicated, participated, and institutional loans within the FIS bank's core loan servicing system.
• Process loan modifications, renewals, extensions, amendments, rate changes, tranche activity, commitments, and new loan funding transactions.
• Accurately process loan payments, advances, paydowns, payoffs, fees, and other monetary transactions.
• Review and reconcile loan balances, accrued interest, and payment activity against supporting documentation and servicing notices.
• Research, resolve, and document general ledger variances and reconciliation differences related to loan activity.
• Support purchased and sold portfolios, including payment processing, rate changes, principal remittances, and investor reporting.
• Review loan documentation to ensure system setup accurately reflects contractual terms, including payment structures, amortization schedules, maturity dates, and interest rate provisions.
• Partner with Commercial Banking, Credit, Treasury, Accounting, Servicing, and external agent banks to ensure accurate servicing and reporting.
• Analyze and resolve loan servicing exceptions, transaction discrepancies, and operational breaks.
• Prepare and support internal audits, regulatory examinations, operational reviews, and control testing activities.
• Maintain adherence to established procedures, internal controls, and operational risk management standards.

Preferred Experience

• Experience supporting commercial, syndicated, participated, institutional, or agent bank loan portfolios, including loan booking, modifications, funding transactions, and servicing activities.
• Strong knowledge of loan accounting, general ledger reconciliations, interest accruals, amortization schedules, and variable-rate lending products, with the ability to research and resolve complex loan and accounting discrepancies.
• Experience working with agent banks and syndicated lending platforms.
• Ability to research and resolve complex loan servicing and accounting discrepancies independently.
• Strong attention to detail and analytical problem-solving skills.

Qualifications

• Bachelor’s degree in business, Finance, Accounting, Economics, or related field preferred.
• 5+ years of experience in commercial loan operations, loan servicing, accounting operations, syndicated lending, or a related banking function.
• Experience with core loan systems and general ledger reconciliation processes preferred.
• Strong written and verbal communication skills.
• Ability to work independently while collaborating effectively across multiple business lines.

What Success Looks Like

The successful candidate will serve as a trusted operational partner responsible for ensuring commercial and syndicated loan transactions are accurately booked, reconciled, serviced, and reported while maintaining strong controls, minimizing operational risk, and supporting a growing and complex commercial lending portfolio.

Benefits

• Robust benefits and retirement package.
• Medical, dental, vision, life and disability insurance, retirement, vacation and tuition reimbursement.
• Total Rewards program includes medical, dental, vision, life and disability insurance, retirement, vacation and tuition reimbursement.

Company Culture & Values

At Eastern Bank, we pride ourselves on supporting our employees by offering tremendous opportunity for individual growth. As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us.

Equal Opportunity/EOD

Eastern Bank is an equal opportunity employer. All job applicants will be considered for employment without regard to race, color, religious creed, national origin, sex, sexual orientation, gender identity, genetic information, military service, age, ancestry, or disability.

Diversity Commitment

At Eastern Bank, we are dedicated to building a diverse, equitable, inclusive and authentic workplace.

Additional Note

Eastern Bank is seeking a detail-oriented and highly analytical Loan Operations Specialist to support the booking, maintenance, and servicing of complex commercial lending relationships within our Loan Operations organization. This role is responsible for accurately processing financial transactions in the core loan system, booking new loans and modifications, supporting syndicated and institutional loan portfolios, performing loan accounting and general ledger reconciliations, and ensuring the integrity of loan data throughout the full loan lifecycle. The ideal candidate brings experience with commercial, syndicated, participated, agented, or institutional loans, possesses a strong understanding of loan accounting, amortization, interest accruals, and payment application, and thrives in a fast-paced, highly controlled operational environment where accuracy and timeliness are critical.