Loan Processing Specialist

Loan Processing Specialist Location: Chicago, IL Onsite Flexibility: Hybrid 2 days in office per week are mandatory Contract Details Position Type: Contract Contract Duration: 5 months (with potential for extension; FTE conversion possible) Pay Rate: $30.00$35.00 / Hour (USD) Shift / Schedule: 40 hours/week, 8:00 AM 5:00 PM, Monday to Friday (1-hour lunch). Overtime normally required during month-end due to transaction volumes; additional overtime during the week may be available with manager approval. Work Authorization: Applicants must be authorized to work for ANY employer in the U.S. We are unable to sponsor or take over sponsorship of an employment Visa at this time. Job Summary The Loan Processing Specialist is responsible for posting and processing complex items and investigating requests to resolve processing errors. The role works within defined parameters to prioritize the workload. The role follows defined procedures to post customer loan payments, loan advances, processing wires, and transfers, and verify documents, providing prompt service to internal and external clients. The role solves basic to moderately complex administrative issues, ensuring productivity standards are achieved and Service Level Agreements are met or exceeded. The successful candidate will be responsible for the final step in the process of closing a loan and responsible for disbursement of funds and subsequent servicing of the loan. Duties include processing payments, advances, performing system maintenance, processing payoffs, reviewing reports and investigating unapplied/rejected funds, preparing cashier's checks for loan advances, monitoring incoming wire mailboxes, investigating/resolving open reconciliation items, and other tasks as required within Loan Services. You'll make sure client satisfaction and productivity standards are achieved and Service Level Agreements (SLA) are met or exceeded by following well-defined procedures and guidelines and escalating issues as appropriate. The Loan Operations team is responsible for monetary transactions tied to loans, including initial loan funding, subsequent advances and payments, processing outgoing wires, and the investigation and application of incoming wires issuing cashier checks for applicable funds. The team also works internally with Deposit Operations, wire room staff, account officers, and client specialists. This position will focus specifically on processing subsequent loan advances and payments. There is no direct client contact. Requests are received from the front-end lines of business client specialist through a servicing queue (CWT). Key Responsibilities Post and process complex items and investigate requests to resolve processing errors Prioritize workload within defined parameters Post customer loan payments, loan advances, process wires, and transfers, and verify documents Provide prompt service to internal and external clients Solve basic to moderately complex administrative issues, ensuring productivity standards are achieved and Service Level Agreements are met or exceeded Perform the final step in the process of closing a loan, including disbursement of funds and subsequent servicing of the loan Process payments, advances, and perform system maintenance Process payoffs and review reports Investigate unapplied/rejected funds Prepare cashier's checks for loan advances Monitor incoming wire mailboxes Investigate and resolve open reconciliation items and other tasks as required within Loan Services Work requests through the servicing queue, fund advance requests, and debit accounts for payments Ensure client satisfaction and productivity standards are achieved and SLAs are met or exceeded by following well-defined procedures and guidelines and escalating issues as appropriate Required Skills Detail oriented and organized Ability to work in a fast-paced environment Balancing different needs and requirements under pressure Multitasking Preferred Skills Working knowledge of IBS (Metavante), ACBS loan system, PCFS, or other comparable loan applications Experience processing wire transfers Education Requirements High school diploma or equivalent (required) Required Experience 2 years of loan servicing experience Banking and banking regulations experience Important Notes Interview process: 12 virtual interviews via MS Teams, approximately 30 minutes in duration Candidate cannot start while employment history and/or regulatory credentials are being verified by the supplier No regulatory credentials required upon start Benefits Medical, Vision, and Dental Insurance Plans 401k Retirement Fund About the Client This client is a leading financial services and banking institution operating across the U.S. and Canada, with a significant presence in major commercial and consumer lending markets. The organization employs thousands of professionals including loan processors, business analysts, DevOps engineers, and enterprise program analysts who collaborate across technology and operations functions to support large-scale banking activities. With a strong emphasis on process standardization, regulatory compliance, and cross-functional stakeholder management, this institution ranks among the top financial organizations serving both commercial and consumer clients across North America. About GTT GTT is a minority-owned staffing firm and a subsidiary of Chenega Corporation, a Native American-owned company in Alaska. We highly value diverse and inclusive workplaces and support Fortune 500 organizations across banking, financial services, technology, life sciences, biotech, utilities, and retail sectors throughout the U.S. and Canada. Job Number: 26-13447 #LI-Hybrid