Loan Processor III

Loan Processor III

This position is responsible for reviewing, boarding and funding loans and renewals from loan agreements. Responsibilities include reviewing all requests for boarding and funding, processing advances, payments and payoffs on various loan products, setting up and maintaining Guarantor records on the loan system, and calculating and adjusting interest and fee accruals. Balances work and prepares appropriate general ledger entries to various cost centers as required.

What will you do?

• Boards new loans and processes renewals from loan agreements, note and other loan documents. Completes data entry and processes appropriate general ledger entries with corresponding offsets. Sets up customer account, commitment and note record on the loan system. Processes initial funding as requested and account for collection of fees and charges as applicable, including but not limited to, unused commitment fees, usage fees, etc.
• Reviews all legal documentation prior to boarding and funding. Processes production loans with interest reserve.
• Maintains Guarantor records on the loan system and performs all maintenance work relating to loans as required.
• Balances daily financial transaction on-line from the system of record. Ensures entered transactions including offset entries are balanced compared to system calculated totals.
• Ensures receipt and verification of proper approvals prior to processing waivers and any unusual transactions. Maintains waiver approval file.
• Calculates and processes accrual and fee adjustments and any other reconcilement work that is assigned.
• Reviews and processes exception reports on a periodic basis. Identifies and resolves any payment processing or reconcilement problems. Determines causes of rejected items, resolves problems and corrects rejects based on established Bank policies.
• Sends outgoing wires using wire/TNET software.
• Maintains a proactive commitment to established bank programs, such as Community Reinvestment Act (CRA) and Affirmative Action.
• Complies fully with all Bank Operational and Credit policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).
• Completes all special projects as requested.

What do you need to succeed?

• Bachelor's Degree or equivalent
• Minimum of 5 years loan processing experience in a financial institution required.
• Minimum 2 years of basic computer experience(e.g. Microsoft Word, Excel, Outlook) required.

Additional qualifications:

• Ability to interact effectively with all levels of Bank personnel.
• Must be able to multi-task and handle a heavy volume of transactions.
• Basic computer knowledge and general office equipment knowledge required.
• Knowledge of M&I Loan System and AFS preferred.

What's in it for you?

Compensation: Starting base salary: $22.27 - $33.43 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

Benefits and perks:

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

About us: Since day one we've always gone further than the competition to help our clients, colleagues and communities flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues today. City National is a subsidiary of Royal Bank of Canada, one of North America's leading diversified financial services companies. To learn more about City National and our dynamic company culture, visit us at About Us.

Inclusion and equal opportunity employment: City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law. It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.