Loan Administrator – Direct Debt
| Company | IDB bank |
|---|---|
| Location | New York, NY, USA |
| Salary | $90000 – $110000 |
| Type | Full-Time |
| Degrees | Bachelor’s |
| Experience Level | Senior, Expert or higher |
Description
Job Description
The Direct Debt group services all bilateral loans or direct lending obligation of the Bank for the NY, CA and FL offices. Direct lending is done out of the Corporate Lending Division, Real Estate, Installment Loans, International & Domestic Private Banking.
- Assist Team Lead in overseeing the day-to-day functions of a loan servicing team. Ensuring accurate and timely processing of loan transactions; loan onboarding, advances, payments, renewals, modifications and payoffs while maintain compliance with regulations and bank policies by leading, training and supervising a team of loan operations specialists.
- Back up for Team Lead’s responsibilities during his/her absence
- Assist with complex loans and provide training to less experience administrators
- Process daily work in Loan IQ, which includes: review of incoming faxes, email, and mail, processing advances, repricings and rate changes, and interest, fee and principal payments to loans on direct, participated or syndicated deals.
- Responsible for matching incoming cash and ensuring release of outgoing cash for all transactions processed
- Obtain internal approval for advances and new borrowings as required.
- Ensure that Promissory or Grid Notes and other supporting documents are received, complete and fully executed, if not, follow-up with appropriate personnel in Lending.
- Interpret Credit Agreements, Amendments, Notes, Line Letters, etc. and update Loan IQ as indicated in the legal documents.
- Process origination fees and other closing costs.
- Communicate with internal lending officers and agent bank representatives on syndicated deals.
- Investigate and resolve customer inquiries and account discrepancies
- Reconciliation interest and fee discrepancies.
- Ensure that all work processed meets audit and compliance requirements.
- Participate in department projects and initiatives as required.
- Assist in testing and implementation of system enhancements as required.
- Prepare and circulate departmental reports as assigned.
- Other duties as assigned.
#LI-Hybrid
Qualifications
- Minimum 5 -10 years loan operations experienceincluding supervisory/approval role
- Bachelor’s degree or equivalent education and related training
- Proficiency with Loan IQ
- Effective communication and interpersonal
- Ability to work independently and also interact as part of a team
- Attention to detail
- Capable of managing multiple tasks
- Ability to identify, analyze, and resolve accounting related problems independently
- Technical skills to include Windows systems and Microsoft Office products (Outlook, Excel and Word)
Compensation
The expected annual salary for this position is between $90,000 and $110,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills and experience. In addition to base salary, our total rewards package also includes eligibility for an annual bonus, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.
Benefits
Not Specified