What are the responsibilities and job description for the Loan Booking Compliance Specialist position at Comerica Bank?
Loan Booking and Compliance Data Specialist
The Loan Booking Compliance and Data Specialist is responsible for analyzing executed commercial loan documentation to validate loan accounting data and compliance data was set up correctly for billing. This includes insuring the loans are accurately reported for Federal Bank Reporting. This position also collaborates with customers, lending partners, legal counsel and suppliers to resolve issues and ensure timely completion of post approval activities.
The Loan Booking Compliance and Data Specialist is responsible for analyzing executed commercial loan documentation to validate loan accounting data and compliance data was set up correctly for billing. This includes insuring the loans are accurately reported for Federal Bank Reporting. This position also collaborates with customers, lending partners, legal counsel and suppliers to resolve issues and ensure timely completion of post approval activities.
Position Responsibilities:
- Data Interpretation: Use knowledge of underwriting principals and the end-to-end loan process to review, analyze and interpret information in the Recap.
- Data Validation: Verifies all information previously captured in the recap, note, credit agreement, GMI, etc.) after to entering into the system of record.
- Data Collection: Gathers information from various sources (loan closing officers, credit support, relationship managers, internal legal counsel, customers, etc.), not included in the
- Recap, to complete the data fields required for the system of record.
- Data Entry: Corrects required data into the systems of record as needed in an accurate and timely manner.
- Independently analyze loan documents (Recap, note, GMI, etc.) for proper system processing, completeness of information, and verify that documentation meets Comerica's credit policy and department procedures.
- Utilize 14 different systems (Mainframes, Imaging systems, Access, applications, etc.) to complete analysis and updating transactions.
- Handle different loan types that requires utilizing multiple systems to view and research documents to determine correct loan data to book.
- Compliance and Education: Understands and maintains knowledge of legal and regulatory issues to assess degree of risk in information obtained for various Commercial and
- Consumer loans and whether additional actions are required.
- Customer Service: Initiates direct communication, verbally and in writing, with credit support, relationship managers, internal and external legal counsel, customers, vendors, etc.
Position Qualifications:
- High Diploma or equivalent; some college accounting courses
- 5 years of financial services or lending operations experience
- 2 years of banking, accounts receivable and payable
- 1 year of Commercial Lending Documentation
- 1 year of Customer Service
8:00am - 5:00pm Monday - Friday (This position offers a hybrid work model that includes onsite and remote days as determined by the manager.)
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
