Relationship Administrator II

Bank of America; Chicago (IL); On-site; USD 125,000 - 150,000; Full time

Job summary

A financial institution is seeking a Loan Administrator to support loan servicing and client interactions. The ideal candidate has experience in commercial real estate loan administration, strong organizational skills, and effective communication abilities. This role is based in Chicago and offers a competitive hourly pay range of $26.27 - $39.70 with benefits.

Benefits

Industry-leading benefits

Paid time off

Qualifications

• Two or more years previous commercial real estate loan administration experience.
• Familiarity with commercial credit or commercial loan terminology.
• Experience with reading, interpreting, and analyzing complex legal documentation.

Responsibilities

• Review construction draw packages and resolve loan-related issues.
• Serve as a point of contact for clients on servicing matters.
• Coordinate fundings and ensure timely communication.

Skills

Adaptability

Prioritization

Problem Solving

Recording/Organizing Information

Relationship Building

Data Collection and Entry

Financial Analysis

Oral Communications

Written Communications

Data Management

Legal Structures and Legal Forms

Regulatory Compliance

Result Orientation

Education

High School Diploma / GED / Secondary School or equivalent

Tools

LoanIQ

ACBS

Excel

Word

Outlook

Job description

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Responsibilities

• Reviews construction draw packages, identifies and helps resolve construction and title issues, keeps accurate records of detailed construction loan budgets and all sources of funds, including loan funds and non-loan sources of funds, and ensures loans are in balance all with some supervision
• Serves as a point of contact for assigned clients on all loan related servicing matters for moderately complex to complex deals which may include syndicated loans and delivers a high level of service to lenders, investors, borrowers, vendors, and Lines of Business while ensuring compliance with servicing agreements, government regulations, and the bank's policies with minimal supervision
• Coordinates fundings with Fulfillment and Assignment Desks as needed and ensures communications are timely and accurate
• Performs payoff quotes and related calculations including prepayment calculations
• Assists Loan Administrators with their primary responsibilities and helps managers in directing workflow and performing quality assurance activities

Required Qualifications

• Has two or more years previous commercial real estate loan administration experience
• Familiarity with commercial credit or commercial loan terminology
• Experience with reading, interpreting, and analyzing complex legal documentation such as credit agreements, and amendments
• Highly organized, proactive, and able to plan, prioritize and manage deliverables
• Strong written and verbal communication skills; able to target messaging to different audiences
• Effective problem-solving skills
• Proficient computer skills, including Windows, Excel, Word, and Outlook
• Can work independently while balancing early escalation to ensure seamless closing
• Adapts well to a quickly evolving environment

Desired Qualifications

• Finance, accounting, or mathematical background
• Experience with LoanIQ, ACBS, or similar booking platform
• Funding experience payments/advances to commercial loan clients
• Bachelor's degree or equivalent loan administration experience
• Monitors, research and instructs payment processing for borrower payments, disbursements, and fees and collects appropriate fees due from the lender or servicer
• Maintains past due principal, interest, and fees as well as reconciliation exceptions within acceptable levels

Skills

• Adaptability
• Prioritization
• Problem Solving
• Recording/Organizing Information
• Relationship Building
• Data Collection and Entry Financial Analysis
• Oral Communications
• Written Communications
• Data Management
• Legal Structures and Legal Forms
• Regulatory Compliance Result Orientation

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Shift: 1st shift (United States of America)

Hours Per Week: 40

Pay Transparency details

US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540)

Pay and benefits information

Pay range: $26.27 - $39.70 hourly pay, offers to be determined based on experience, education and skill set.

Predictable pay: This role is compensated with a base salary and is not incentive eligible.

Benefits: This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.