What are the responsibilities and job description for the Loan Servicing Specialists II/III position at CoBank?
Benefits Overview
A career at CoBank can offer you the opportunity to make a personal impact on the people and communities where we do business. When you choose a career with CoBank, you make a difference by standing for something that matters. In order to be the best, we hire the best!
Remarkable Benefits offered by CoBank
- Careers with a purpose- stand for something!
- Competitive Compensation & Incentive
- Hybrid work model – flexible arrangements for most positions
- Benefits Packages, including: Medical, Dental and Vision coverage, Disability, AD&D, and Life Insurance
- CoBank University robust curriculum –associate training and development, including higher education tuition reimbursement
- Outstanding 401k – up to 6% matching and additional 3% non-elective contribution
- Time-Off Packages – Vacation 15 days, 10 Paid Sick Days, and 10 Paid Holidays
- Community Impact – United Way Angel Day, Volunteer Day and Associate Directed Contribution
- Associate Resource Groups – creating a culture of diversity and inclusion
- Recognize a fellow associate with “GEM” awards, including a monetary value
- On-site Fitness Center and Café
- ECO transportation pass provided to every Denver associate
Job Description
CoBank’s Loan Servicing Specialists II/III are responsible for the servicing and administration of a portfolio of complex syndicated, bilateral, and wholesale loans where CoBank may be the administrative agent, a syndicate lender, or a direct lender. The Loan Servicing Specialist is the liaison and operational point of contact for borrowers, syndicate lenders, Farm Credit System partners, and internal CoBank departments. Loan Servicing Specialists maintain the soundness of our control environment by using critical thinking and problem-solving skills to analyze and resolve issues, answer questions, and proactively identify loan administration challenges and risks. The Loan Servicing Specialist works collaboratively with teammates and stakeholders to facilitate continuous process improvement by leveraging principles of Operational Excellence.
Essential Duties and Responsibilities
- Perform all loan servicing and administration activities in expected time frames and according to documented policies and procedures, including:
- Process payment application, funds disbursement, and rate setting transactions in ACBS and notify syndicate members and sold participations of transactions
- Book new borrowers, credit facilities, loans, letters of credit and fees in loan administration systems
- Complete ongoing customer, credit facility, and loan level maintenance
- Read and interpret credit agreements as they relate to loan servicing and administration
- Review, document, and resolve items appearing on reconciliations and control reports timely and accurately
- Support or lead non-processing tasks, initiatives, and projects
- Cross train on other department functions to ensure coverage during absences and periods of peak volume
- Serve as “Mission Critical Personnel” for business continuity and reduced staffing scenarios
Qualifications
- High school diploma.
- 1 years relevant experience preferably in banking or financial services industry; or appropriate combination of education and experience (this includes new graduates with bachelor’s degree).
- Ability to work overtime.
Preferred Qualifications
- Bachelor's degree in accounting, finance, business administration, or relevant discipline.
- Experience with syndicated loan servicing as agent and investor.
- Knowledge of commercial loan administration practices and ACBS or similar loan servicing system.
- Experience with commercial loan products and loan syndication markets.
- Intermediate knowledge of personal computers and Microsoft Office products.
- Knowledge and understanding of the Farm Credit System.
- Ability to provide a superior customer experience.
Compensation Information
- Estimated Base Salary Range: $48,000-$58,000
- Target short-term incentive opportunity: 6%
About CoBank
CoBank stands strong as a $135 billion enterprise dedicated to the financial needs of rural America. As a national cooperative bank and a proud member of the Farm Credit System it is our mission to serve as a relevant and dependable provider of credit and other value-added financial services. From our headquarters in Denver, Colorado and our regional banking centers across the US, CoBank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states.
CoBank will not sponsor a work visa (e.g. H1B, etc.) to fill this position.
CoBank is an Equal Opportunity Employer.
CoBank requires all newly hired associates to be fully vaccinated against COVID-19, and new hires will be asked to register their proof of vaccination. Any offer of employment will be conditioned upon an applicant supplying proof of vaccination against COVID-19; provided, however that CoBank may provide a reasonable accommodation for an applicant’s known disability or sincerely held religious belief.
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Salary : $48,000 - $58,000
