What are the responsibilities and job description for the Loan Operations Specialist II position at City First Bank N.A.?
Description
WHO WE ARE
City First Bank N.A. is a mission-driven Community Development Financial Institution (CDFI) principally focused on a transformative impact in underserved, urban markets with the highest needs to drive equitable economic development. Our credit activities are purely commercial and focused on the following segments: Multifamily Affordable Housing, Not-for-Profit Finance, and Small Business Finance. As a depository and commercial lending provider with over $1.3 billion in bank assets as of December 31, 2024, our unified organization has over 100 employees in Washington DC and Los Angeles/Inglewood, CA.
ROLE SUMMARY
This position performs various functions within the Loan Operations area; which include but are not limited to the data entry of new loan data, processing of payments and advances, loan participation processing, processing of paid loans, non-accrual and charge off loans, generation of loan billing notices and statements, monitor and updating ticklers, monitoring of various Acquire and H360 reports to ensure the accuracy and integrity of the loan data input, filing and scanning.
ESSENTIAL FUNCTIONS AND RESPONSIBILITIES
- As a Loan Operations Specialist you will assign proper Horizon codes to loans and input loans into the Horizon Loan Accounting System, input collateral and other records as required; input documentation ticklers to track the receipt of recorded documents and the expiration of insurance policies; input ticklers for changes in interest rates, payment structures, and/or product and purpose codes.
- Process all loan payments and advances; review and process loan fees collected.
- Maintain and input financial document ticklers into Loan Vantage.
- Ensure the safekeeping of all collateral files and original notes, print and ensure the accuracy of all loan billing notices, statements, maturity and past due notices, ensure proper holds are placed on cash collateral and escrow reserve accounts, review and correct transactions that non-post and other exception reports.
- Prepare payoff statements and process loan payoffs, prepare the monthly SBA guaranty loan report within the deadline defined by the SBA; establish real estate collateral on a tax service to ensure property taxes are paid as required.
- Post loan fees collected on new and renewed loans in accordance with the Fee Sheet.
- Review funded loans in accordance with the disbursement instructions provided.
- Research and respond to customer and/or bank personnel questions regarding loan data in the Fidelity system.
- Monitor reports for required system maintenance changes.
- Monitor reserve accounts for adherence to reserve requirements.
- Reconcile various Loan Operational general ledger accounts.
- File all original notes within a dual control system within 24 hours of disbursement.
- File all loan collateral related materials in the specified section of the loan files and in a timely manner.
- Provide excellent customer service the bank’s customers and fellow employee, participate to help department / bank achieve strategic goals, perform Annual escrow analysis, input deferred fees and cost using proper deferral method, monitor and update UCC filings to ensure no lapse in Bank’s lien position.
- Assist in special projects as needed.
- Perform other related duties as assigned.
Requirements
EDUCATION & EXPERIENCE
Required Education/Experience:
- HS Diploma or equivalent
- Seven (7) years prior banking experience with Four (4) years specific to loan operations; experience with commercial loan preferred
- Excellent written and communication skills
- Very detail oriented. Ability to read and interpret loan approvals and loan documentation
- Ability to complete task within established timeframe
- Maintain professional attitude to both internal and external customers
- Proficient in Microsoft office including: Outlook, Word, and Excel applications
Preferred Education/Experience:
- BA Degree preferred.
- Preferred experience with Horizon, FIS, Acquire and Loan Vantage.
CERTIFICATIONS
- None required
