What are the responsibilities and job description for the Loan Servicing Team Lead position at Commercial Bank of California?
Loan Servicing Team Lead
Location: Remote
Job Type: Full-Time | Exempt .
Salary Range: $85,000 – $95,000 per year
About Commercial Bank of California
Commercial Bank of California (CBC) is the largest Latino-owned bank in California and a certified Minority Depository Institution (MDI). Headquartered in Irvine and founded in 2003, CBC is one of the largest privately held banks in the state, with over $3.5 billion in assets as of December 2024.
We are a purpose-driven financial institution committed to building long-term relationships and delivering innovative, personalized banking solutions. Our leadership reflects the diverse communities we serve, and our mission is rooted in empowering entrepreneurs, business owners, and community leaders to thrive.
As a certified MDI, CBC is proud to play a vital role in advancing financial inclusion and economic opportunity. We believe in a higher vision for banking—one that prioritizes trust, collaboration, and community impact. Join us and be part of a team that’s redefining what it means to be a community-focused, relationship-driven bank that puts people over profits.
Job Summary
Under nominal supervision and direction of the Note Dept. Manager, Note Dept. Assistant Manager or their designee, the Loan Servicing Team Lead performs and oversees all post-closing duties relating to the loan servicing functions of the Bank’s real estate, construction, commercial, consumer, SBA, letters of credit and asset-based loans, as well as, the processing of all special handling transactions, third party serviced loans and special assets activity. This includes loan boarding and loan fundings at closing, payment processing, billings, paydowns, advances, callbacks, payoffs, demands, balancing, rate changes, maintenance, shadow accounting, clearing non-posts, distributing system reports and posting entries. The Loan Servicing Team Lead, under the direction of the Note Dept. Manager or Note Dept. Assistant Manager, is also responsible for working directly with designated employees for the purposes of overseeing daily activities, answering complicated questions, assisting with training and coaching, delegating tasks and helping to resolve client issues. Assists in the development, implementation and maintenance of Loan Servicing procedures. Responsible to assist in the hiring and performance evaluations of Loan Servicing staff.
Essential Duties and Responsibilities
- Process all paperwork required for the proper disbursement of loan funds at closing and boards all new and modified loans by inputting all loan, customer, collateral and tickler data in the loan accounting system. Data input shall be based on the loan terms set forth in the executed loan documents, as expressed in the credit approval.
- Accurately process all monetary transaction, including loan payments, advances, paydowns and payoffs.
- Perform all loan maintenance activities including customer address changes, late charge waivers, automatic payment set-ups/changes, payment adjustments, payment schedule and billing adjustments, interest changes, tickler updates and other coding changes. Prepare demand letters for loan payoffs or paydowns as requested by title/escrow companies and third-party creditors.
- Respond to requests for information from branch personnel through general research of items such as note histories, billing problems and payment posting. Escalates complex issues to the Note Dept. Manager or Note Dept. Assistant Manager, as needed.
- Process incoming and outgoing wires.
- Provide loan servicing support within approved Service Level Agreements to all other departments and business units as needed.
- Review computer generated reports on a daily basis to ensure GL information balances to loan system data. Clears all non-posted transactions and corrects any out-of-balance conditions, as required.
- Prepare/Review reconveyances for loan payoffs (or for partial reconveyances) as requested by title/escrow companies and third-party creditors.
- Prepare monthly certifications.
- Create, implement and maintain Loan Servicing related procedures.
- Involved in the hiring activities and the evaluation and review of the Loan Servicing Team staff, including individual counselings, if needed.
- Accountable to understand and ensure regulatory and policy compliance with state and federal requirements including the following (but not limited to) Bank Secrecy Act, Anti-Money Laundering Act, Community Reinvestment Act, OFAC Regulations and Fair Lending and all applicable bank and government regulations.
- Attend training and maintain a basic knowledge of procedures to ensure compliance with laws and regulations governing financial institutions, as they apply to your position and job responsibilities, with an emphasis on the BSA/AML/CIP, Consumer Privacy, Regulation CC, Information Security, Bank Protection Act, FACT-Identity Theft, Information Technology and GLBA.
- Perform other departmental duties as assigned.
Education/Training/Experience:
Required: High School Diploma or General Education Degree (GED); minimum of 7 years of experience in loan processing and accounting or an equivalent combination of education and experience.
Desirable: Proficient in all loan accounting and servicing related functions with emphasis on commercial/business and real estate lending.
Knowledge:
- Must be able to assess any given situation and bring to a successful resolution
- Good working knowledge of personal computers and software. Supervisory-level knowledge of loan accounting systems functions and procedures
- Bank marketing, operations and other daily banking functions to maintain understanding of customer management and product delivery in general
- Banking laws, policies and procedures, service, and credit products
- Principles of report preparation
- Analysis and Statistics
- General Accounting and mathematics
Abilities:
- Detail oriented, able to multi-task and highly organized
- Able to read and comprehend legal documents, procedure manuals and governmental regulations and apply same to job responsibilities as needed
- Ability to complete daily transactions, both routine and complex
- Plan, organize, prioritize and delegate assigned tasks to meet deadlines
- Lead, mentor and manage employees to complete tasks in accordance with established standards
- Analyze, decision and solve work problems
- Assist in training employees
- Follow oral or written instructions
- Communicate effectively with co-workers, customers, consultants, regulators, and other parties.
- Prepare clear and concise reports and other documentation and correspondence
- Enter data in personal computer, use a calculator; operate telecommunications equipment and other office equipment.
- Use word processing, spreadsheet, graphics, and database software applications, as well specialized financial systems software
Benefits & Perks
- Competitive employer contribution to medical, dental and vision coverage
- 401k plan with employer match
- Flexible Spending Accounts (FSA) and Dependent Care Accounts
- Employee Assistance Program (EAP)
- Employer provided Calm subscription
- Employer provided mental health benefits through Teladoc
- Life, AD&D and disability insurance
- Minimum 15 Days of Vacation, 11 Paid Federal Holidays, Paid Time off to Volunteer
- Online discount program
- Tuition Reimbursement Program
Join Our Team!
Equal Employment Opportunity & Accommodations
Commercial Bank of California is proud to be an Equal Employment Opportunity employer. We are committed to creating an inclusive environment for all employees and applicants. All qualified individuals will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, national origin, disability, protected veteran status, or any other legally protected characteristic.
We evaluate applicants fairly and equitably, including those with criminal histories, in accordance with applicable federal, state, and local laws.
Commercial Bank of California is also committed to providing reasonable accommodations to individuals with disabilities. If you require a reasonable accommodation during the application or interview process, please contact us at hr@cbcal.com with the nature of your request and your contact information.
Recruitment Policy
Commercial Bank of California does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to CBC, either directly or indirectly, will be considered the property of Commercial Bank of California.
We will not pay a fee for any placement resulting from the receipt of an unsolicited resume. To submit candidates for consideration, recruiting agencies must have a valid, written, and fully executed agreement with Commercial Bank of California. Without such an agreement in place, no agency submissions will be accepted or compensated.
Salary : $85,000 - $95,000