Sr. Commercial Syndication Servicing Specialist

Cathay Bank; Rosemead (CA); On-site; USD 45,000 - 52,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

Life insurance

Long-term disability

FSAs and HSA with company contribution

401(k)

Job summary

Cathay Bank in Rosemead, CA seeks a Senior Commercial Loan Servicing Syndication Specialist to administer syndicated loans, handle advances, payments, rate pricing and maintenance in coordination with lead banks and participants.

Requirements include a bachelor’s degree, 2+ years in commercial loan servicing (FIS preferred), strong analytical and Excel skills, and Mandarin or Cantonese language skills are a plus. This is a full-time position with a comprehensive benefits package.

Qualifications

• Bachelor’s degree or equivalent experience required.
• At least two years of experience in commercial loan servicing, preferably within syndication servicing, and experience in commercial loan boarding.
• Experience using FIS is preferred.
• Knowledge of Syndication industry practice and processes.
• Knowledge of loan documents and outside counsel prepared documents.
• Knowledge of letters of credit, borrowing based lending, multi-phased construction and multiple collateral properties.
• Knowledge of commercial finance, documentation, accounting and data systems.
• Ability to provide excellent client service.
• Ability to multi-task, adapt quickly to changes and work effectively in a fast-paced environment.
• Ability to work effectively with individuals and groups across the company to manage internal and external client relationships.
• Must be a self-starter and possess positive attitude with good organizational skills.
• Well versed in Microsoft applications and Excel with the ability to create moderate to complex Excel files.
• Good written and verbal communication skills.
• Good analytical and problem-solving skills.
• Must be able to work effectively with frequent interruptions and changing priorities.
• Bilingual (Mandarin or Cantonese) is a plus.

Responsibilities

• Receive and review borrower’s request or Lead Bank’s request to advance funds against line of credit ensuring proper availability and process advances on the loan system.
• Receive funds via wire and notices from Lead Banks to post payments on the loans and clear wire suspense timely.
• Receive notices requesting loan advances and verify that all provisions have been met and process the advance on the loan system and disburse the funds to the Lead Bank in accordance with the agreement.
• Calculate the amounts/shares applicable to each participating bank regarding advances and payments.
• Prepare notices requesting advance of funds from participating banks and post accordingly upon receipt of funds.
• Post payments upon receipt from the borrower and or Lead Bank and monitor receipt of wires.
• Prepare notices of receipt of payments to participating banks and wire funds accordingly.
• Monitor interest index, repricing and provide rate change notices to participating banks or process rate changes upon receipt of notice from Lead Bank.
• Prepare wire instructions and submit funds to participating banks or upon request from Lead Bank to disburse funds.
• Prepare fees notices with proper fee computations.
• Process note sales with premium/discount as requested by the lending team in accordance with the accounting department’s note sale accounting entries.
• Review and process new, renewal, and modification loan boardings.
• Monitor delinquencies and work with Lead Banks to settle delinquencies due to syndication administrative issues.
• Reconstruct disputed loan accounting with Lead Bank.
• Reconcile the wire account in suspense for timely posting of funds received.
• Monitor a centralized email box and delegate work.
• Support other projects assigned by the manager or supervisor.

Skills

Syndication knowledge

Client service

Multi-tasking

Microsoft Excel

Communication skills

Problem solving

Organizational skills

Team collaboration

Mandarin/Cantonese

Education

Bachelor’s degree or equivalent experience

Tools

FIS

Job description

People Drive Our Success

Are you enthusiastic, highly motivated, and have a strong work ethic? If yes, come join our team! At Cathay Bank – we strive to provide a caring culture that supports your aspirations and success.

We believe people are our most valuable asset, and we proudly foster growth and development empowering you to achieve your professional goals. We have thrived for 60 years and persevered through many economic cycles due to our team members’ drive and optimism. Together we can make a difference in the financial future of our communities.

What our team members are saying:

• Video Clip 1
• Video Clip 2
• Video Clip 3

Learn more about us at cathaybank.com

GENERAL SUMMARY

The Senior Commercial Loan Servicing Syndication Specialist is responsible for administering and servicing syndicated and participated loan activities, such as handling advances, payments, rate pricing, fee and overall maintenance of the loans where Cathay Bank is the lead/agent or Cathay Bank is a participating bank.

DIRECT REPORTS

None

ESSENTIAL FUNCTIONS

• Receive and review borrower’s request or Lead Bank’s request to advance funds against line of credit ensuring proper availability and process advances on the loan system.
• Receive funds via wire and notices from Lead Banks to post payments on the loans and clear wire suspense timely.
• Receive notices requesting loan advances and verify that all provisions have been met and process the advance on the loan system and disburse the funds to the Lead Bank in accordance with the agreement.
• Calculate the amounts/shares applicable to each participating bank regarding advances and payments.
• Prepare notices requesting advance of funds from participating banks and post accordingly upon receipt of funds.
• Post payments upon receipt from the borrower and or Lead Bank and monitor receipt of wires.
• Prepare notices of receipt of payments to participating banks and wire funds accordingly.
• Monitor interest index, repricing and provide rate change notices to participating banks or process rate changes upon receipt of notice from Lead Bank.
• Prepare wire instructions and submit funds to participating banks or upon request from Lead Bank to disburse funds.
• Prepare fees notices with proper fee computations.
• Process note sales with premium/discount as requested by the lending team in accordance with the accounting department’s note sale accounting entries.
• Review and process new, renewal, and modification loan boardings.
• Monitor delinquencies and work with Lead Banks to settle delinquencies due to syndication administrative issues.
• Reconstruct disputed loan accounting with Lead Bank.
• Reconcile the wire account in suspense for timely posting of funds received.
• Monitor a centralized email box and delegate work.
• Support other projects assigned by the manager or supervisor.

QUALIFICATIONS

Education: Bachelor’s degree or equivalent experience required.

Experience: At least two years of experience in commercial loan servicing, preferably within syndication servicing, and experience in commercial loan boarding. Experience using FIS is preferred.

Skills/Abilities:

• Knowledge of Syndication industry practice and processes.
• Knowledge of loan documents and outside counsel prepared documents.
• Knowledge of letters of credit, borrowing based lending, multi-phased construction and multiple collateral properties.
• Knowledge of commercial finance, documentation, accounting and data systems.
• Ability to provide excellent client service.
• Ability to multi-task, adapt quickly to changes and work effectively in a fast-paced environment.
• Ability to work effectively with individuals and groups across the company to manage internal and external client relationships.
• Must be a self-starter and possess positive attitude with good organizational skills.
• Well versed in Microsoft applications and Excel with the ability to create moderate to complex Excel files.
• Good written and verbal communication skills.
• Good analytical and problem-solving skills.
• Must be able to work effectively with frequent interruptions and changing priorities.
• Bilingual (Mandarin or Cantonese) is a plus.

Pay

Pay Range: $33.00 -$38.00/hour

Pay determined based on job-related knowledge, skills, experience, and location.

This position may be eligible for a discretionary bonus.

Benefits

Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

Privacy Notice

Cathay Bank may collect personal information from potential job candidates and applicants. For more information on how we handle personal information and your applicable rights, please review our California Job Applicant Privacy Policy.

Equal Opportunity Statement

Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision-making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law.

Poster Information

Poster- English

Poster- Spanish

Poster- Chinese Traditional

Poster- Chinese Simplified

Accommodation Contact

Cathay Bank endeavors to make www.CathayBank.com accessible to any and all users. If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact, Mickey Hsu, FVP, Employee Relations Manager, at [phone] or [e-mail]. This contact information is for accommodation requests only and cannot be used to inquire about the status of applications

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.