GENERAL SUMMARYUnder the supervision of the Loan Servicing Supervisor & Officer within the servicing team and following established policies and procedures, perform all post-closing duties relating to the servicing of the Bank's commercial loan portfolio according to separation of duties established by the Department Head including but not limited to the following functional duties:
The Commercial Servicing Officer will provide support and direction to less senior Specialists and will step in as back up to the Loan Servicing Supervisor.
DIRECT REPORTSThe incumbent has no direct reports.
ESSENTIAL FUNCTIONS- Researches and resolve complex internal/external customer questions/discrepancies in loan accounting.
- Play key roles in department projects.
- Monitor the department's shared email in-boxes and platforms to ensure completion of delegated items.
- Take lead role in special servicing processes that includes:
- Case Cost Lending
- SBA 1502 update and reporting
- SAD processing to include the following:
- Charge Offs
- OREO Transfers
- Accrual Changes
- Shadow Payment Processing
- Prepare GL Certifications.
- Serve as secondary reviewer and/or back-up of the following:
- Pay Off Statements
- FTI Balancing and Releases
- Daily Index Rate Sheet
- Established Control Reports
- Prepayment Penalty Report
- 85 Day Past Due Report
- Non-Accrual Exception Report
- Review and update Procedures and Job Aids to Assist management in ensuring loan servicing procedures adhere to bank policy and regulations.
- Responsible for research, review, and resolution of any Loan Servicing issues.
- Assist in short-term and long-term projects.
- Assist the CLS Supervisor in providing direction and guidance to staff in their assigned duties.
- Assist the CLS Supervisor with training and development of the team.
- Assist the CLS Supervisor and the Boarding team with complex research, review, and resolution of any Loan issues.
- Review vendor invoices.
- Provide general support, assistance, and backup for all servicing functions to include the following:
- Rate Rollovers and Repricing
- Establish new Rate Contract Sub-Notes
- Payments
- Payoffs
- Loan Advances
- Pay Off Statement Preparation
- System maintenance
- Release of Collateral Review
- Post Closing/Boarding document and Collateral Review.
QUALIFICATIONSEducation: High school diploma or equivalent; some college courses a plus.
Experience: Minimum of 5 years of commercial loan servicing experience required.
Skills/Ability: PC literate, proficiency with MS Office, knowledge of IBS loan system a plus, ability to work in a fast-paced environment while maintaining a high level of accuracy, strong problem-solving and organizational skills, bilingual (English, Mandarin or Cantonese) is a plus.
Pay Range: $39.42 to $43.27/hourON-GOING TRAINING- Each team member is required to complete all required training including Compliance and Bank Secrecy Act/Anti-Money Laundering training suitable to his or her position within the Bank.
Pay determined based on job-related knowledge, skills, experience, and location.
This position may be eligible for a discretionary bonus.
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).
