What are the responsibilities and job description for the Commercial Loan Operations Specialist position at Commercial Alliance?
Commercial Alliance provides a comprehensive suite of lending services designed to help credit unions succeed with business members across six states. We are looking for an enthusiastic, self-motivated professional to assist with our Loan Operations.
The Loan Operations Specialist administrates accounting and related functions for partner Credit Unions that utilize monthly loan payments and daily advances on lines of credit as well as assisting both internal and external personnel on all MBL related questions and /or requests. Maintains accurate accounting and disbursement of all escrow property taxes.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Administer daily loan payments and process corresponding general ledger entries, ensuring compliance with loan documents and accurate accounting.
- Handle credit union requests for line of credit advances, ensuring accurate ledger entries and correct accounting treatment.
- Review daily loan transactions and cash accounts to confirm proper collection and application of payments.
- Track and manage ACH payments in compliance with NACHA risk protocols and internal controls.
- Support Loan Operations team members as needed and assist with ad-hoc reporting for internal and external stakeholders.
- Ensure accuracy of onboarded loans and initial loan bookings.
- Oversee ACH file management and ensure any changes are appropriately processed in accordance with NACHA guidelines.
- Collaborate with Loan Officers to address and resolve returned payments, ensuring accurate accounting and follow-up actions.
- Coordinate month-end and quarter-end loan reporting, including loan reconciliation packages.
- Track and manage incoming loan funding requests.
- Manage and respond to incoming emails related to Loan Operations.
- Prepare monthly reconciliations for Settlement Liability accounts.
- Oversee the tracking and processing of loan payoff requests.
REQUIRED SKILLS/ABILITIES
- Processing loan payments and accurately updating corresponding general ledger accounts for both Commercial Alliance and partner Credit Unions.
- Ability to identify and correctly process escrow payments and allocate them to the appropriate deposit accounts.
- Responsible for remitting semi-annual property tax payments to municipalities for escrowed properties.
- Proficient in reviewing and ensuring the accuracy of new loan bookings.
- Experience with weekly ACH file management and ensuring proper accounting for any changes.
- Strong collaboration skills to work with Loan Officers to address returned payments and ensure timely resolution.
- Experience with month-end and quarter-end loan reporting and reconciliation.
- Tracking and processing incoming loan funding.
- Strong organizational skills with a focus on meeting deadlines and managing competing priorities.
EDUCATION AND EXPERIENCE
REQUIRED:
- Excellent verbal and written communication skills and the ability to work with personnel from all areas of the company.
- Working knowledge of automated loan accounting systems, general ledger systems and basic understanding of accounting principles.
PREFERRED
- Minimum of 5 years’ experience preferably with a background in loan operations
- Bachelor’s Degree in Business Administration, Finance, or related field
WHAT WE OFFER
Commercial Alliance offers exciting and challenging opportunities to thrive in a dynamic, collaborative, and innovative environment. As a member of our team, you'll benefit from a competitive salary and comprehensive benefits package. Additionally, you'll have access to unique opportunities for professional and personal growth, along with recognition and rewarding experiences.
If you are a strategic thinker with a passion for delivering exceptional products and working in a fast-paced environment, we would love to hear from you. Apply today to join our team!
