Loan Operations Specialist

Position: Deal Specialist

Location: Chicago, IL – hybrid

Salary: $55K/year

Start Date: June 15th

Job Summary:

Calculated Hire is looking for entry-level Deal Specialists who are interested in launching their career in Commercial Banking Operations. This is a unique opportunity to kick-start your career in a high-demand skillset!

You’ll gain hands-on experience in deal structuring, loan closing, transaction management, and portfolio management while developing analytical and problem-solving skills. You’ll work closely with internal teams and partners to ensure smooth operations and contribute to a culture of continuous improvement. You will be provided with additional technical training and professional mentorship to help you grow into a subject matter expert and diversify your banking knowledge.

Responsibilities:

• Review and verify loan documents to ensure all deal terms are accurate and match what was approved.
• Learn to set up and manage deal information in LoanIQ, the bank's internal loan management system in addition to LaserPro and ClearPar for loan documentation and loan trading.
• Complete required property and compliance checks — including flood determinations and AML/KYC verification — ahead of deal closing.
• Gather and organize closing documentation, coordinate with internal teams on funding instructions, and ensure all conditions are met before a deal closes.
• Track outstanding documents and follow up with internal partners to keep deals moving and ensure borrower reporting requirements are met on an ongoing basis.
• Learn to review compliance and financial reporting from borrowers and understand how that information can affect loan pricing.
• Prepare checklists and coordinate with internal departments to support the issuance and ongoing management of Letters of Credit.
• Build working knowledge of collateral management, including how the bank tracks, monitors, and maintains different types of loan collateral over the life of a deal.
• Maintain accurate records in internal systems, supporting updates related to risk ratings, credit reviews, and borrower information.
• Monitor internal exception reports and help resolve open items in a timely manner.
• Participate in audits and contribute to process improvement efforts, including updating internal policies and procedures.
• Ensure transactions are processed accurately and on time to minimize risk and deliver a strong client experience.

Desired Qualifications:

• Bachelor’s degree in accounting, finance, or a related field.
• Banking industry experience highly desirable
• Strong analytical and problem-solving skills
• Strong investigation and prioritization skills
• Strong customer service and relationship management skills
• Strong conflict management/resolution skills
• Strong written and oral communication skills
• Ability to multi-task in a fast-paced environment
• Interest in using AI to drive productivity

What’s in it for you…?

• Through our Elevate program, you’ll be provided paid functional training through our online learning management system, customized to help you specialize in areas you’re passionate about and excel in your career.
• This role will allow the individual to gain a solid foundation on understanding Corporate and Commercial lending, loan accounting, financial risk and controls
• Develop knowledge of complex lending structures including collateralized and specialty lending
• Develop of communication skills through Customer interaction
• Opportunity to gain high visibility with upper management and learn from skilled senior team members.
• Position yourself for future growth and leadership opportunities within the organization.
• Networking opportunities through Calculated Hire sponsored events like manager-led Lunch & Learns

ABOUT EIGHT ELEVEN:

Eight Eleven Group provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, national origin, age, sex, citizenship, disability, genetic information, gender, sexual orientation, gender identity, marital status, amnesty or status as a covered veteran in accordance with applicable federal, state, and local laws.