Loan Operations Representative at First Bank Chicago in Northbrook, Illinois

Job Description:

This position reports to Loan Operations Quality Control Manager.

Basic Function

Provide support to the Bank’s loan function by reviewing new/renewed loans; reviewing loan advances, payments, and rate changes; and processing paid loans.

Job Duties

1. Perform basic loan servicing functions for a variety of loan types (Commercial Real Estate; Commercial and Industrial; Consumer)
   
   
   
   • Apply payments and advances to loans
   
   
   • Act as servicing agent for participated/syndicated loan transactions
   
   
   • Perform servicing for troubled loans, i.e., non-accruals, OREO, and charge-offs
   
   
   • Pay invoices
   
   
   • Pay real estate taxes
   
   
   • Process paid loans
     
     
     
     • Prepare payoff letters
     
     
     • Prepare release deed if necessary and send for recording


2. Review new and renewed loans
   
   
   
   • Review new and/or renewed loans on the Fiserv system against boarding data
   
   
   • Responsible for maintaining original loan documents and files in the collateral vault


3. Answer client inquiries regarding loan balance, transactions & payoffs
   
   
   
   • Transfer money between accounts
   
   
   • Prepare wire transfer requests
   
   
   • Research and correct errors


4. Audit data entry of new and renewed loans
   
   
   
   • Perform maintenance as needed
   
   
   • Scan key loan documents


5. Audit all previous day’s servicing activity
   
   
   
   • Correct errors as found
   
   
   • Perform reconciliation process for GL accounts


6. Monitor hazard and flood insurance
   
   
   
   • Contact agents/borrowers to obtain current certificate of insurance
   
   
   • Update weekly insurance tickler report
   
   
   • Add lapsed insurance coverage to force placed insurance program


7. Perform additional departmental duties such as:
   
   
   
   • Order credit reports, title work and/or flood searches
   
   
   • Assist with Board reports
   
   
   • Update Procedures
   
   
   • Input CRA/HMDA information into the FFIEC CRA/HMDA data entry software
   
   
   • Assist in the processing of construction draws
   
   
   • Update collateral & insurance report
   
   
   • Prepare Subordinations of lien
   
   
   • Provide notary services
   
   
   • Monthly insurance monitoring
   
   
   • Monthly available commitment report monitoring
   
   
   • Collateral maintenance for tax certificates secured loans
   
   
   • Review daily reports
   
   
   • Update loans secured by stock/bonds/investment accounts report
   
   
   • Input Customer Due Diligence and Beneficial Ownership information into BAM+

Nonessential Duties

• Other duties as assigned

Knowledge, Skills & Abilities

• Detail oriented


• Basic accounting knowledge


• Working knowledge of Bank regulations preferred

Training & Experience

• High School diploma or GED


• 0-2 years banking experience


• Microsoft proficiency


• Fiserv application experience helpful


• College degree helpful

First Bank Chicago is an Equal Opportunity Employer: disability/veteran

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