4 Jobs
FIRST BANK CHICAGO is Hiring a Loan Operations Representative Near Northbrook, IL
Job Location
Northbrook - NORTHBROOK, IL
Position Type
Regular Full-Time
Job Category
Staff
Description
This position reports to Loan Operations Quality Control Manager.
Basic Function
Provide support to the Bank's loan function by reviewing new/renewed loans; reviewing loan advances, payments, and rate changes; and processing paid loans.
Job Duties
- Perform basic loan servicing functions for a variety of loan types (Commercial Real Estate; Commercial and Industrial; Consumer)
- Apply payments and advances to loans
- Act as servicing agent for participated/syndicated loan transactions
- Perform servicing for troubled loans, i.e., non-accruals, OREO, and charge-offs
- Pay invoices
- Pay real estate taxes
- Process paid loans
- Prepare payoff letters
- Prepare release deed if necessary and send for recording
- Review new and renewed loans
- Review new and/or renewed loans on the Fiserv system against boarding data
- Responsible for maintaining original loan documents and files in the collateral vault
- Answer client inquiries regarding loan balance, transactions & payoffs
- Transfer money between accounts
- Prepare wire transfer requests
- Research and correct errors
- Audit data entry of new and renewed loans
- Perform maintenance as needed
- Scan key loan documents
- Audit all previous day's servicing activity
- Correct errors as found
- Perform reconciliation process for GL accounts
- Monitor hazard and flood insurance
- Contact agents/borrowers to obtain current certificate of insurance
- Update weekly insurance tickler report
- Add lapsed insurance coverage to force placed insurance program
- Perform additional departmental duties such as:
- Order credit reports, title work and/or flood searches
- Assist with Board reports
- Update Procedures
- Input CRA/HMDA information into the FFIEC CRA/HMDA data entry software
- Assist in the processing of construction draws
- Update collateral & insurance report
- Prepare Subordinations of lien
- Provide notary services
- Monthly insurance monitoring
- Monthly available commitment report monitoring
- Collateral maintenance for tax certificates secured loans
- Review daily reports
- Update loans secured by stock/bonds/investment accounts report
- Input Customer Due Diligence and Beneficial Ownership information into BAM
- Other duties as assigned
Knowledge, Skills & Abilities
- Detail oriented
- Basic accounting knowledge
- Working knowledge of Bank regulations preferred
- High School diploma or GED
- 0-2 years banking experience
- Microsoft proficiency
- Fiserv application experience helpful
- College degree helpful
Crain's Chicago Best Places to Work
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Job Summary
Full Time
$37k-47k (estimate)
05/01/2024
05/20/2024
firstbankchicago.com
<25
The following is the career advancement route for Loan Operations Representative positions, which can be used as a reference in future career path planning. As a Loan Operations Representative, it can be promoted into senior positions as a Loan Processor III that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Loan Operations Representative. You can explore the career advancement for a Loan Operations Representative below and select your interested title to get hiring information.
