This position reports toย VP/Loan Servicing
Basic Functions
Provide support to the Bankโs loan function by reviewing new/renewed loans; reviewing loan advances,ย paymentsย and rate changes; and processing paid loans.
Essential Dutiesย
1. Perform basic loan servicing functions for a variety of loan types (Commercial Real Estate; Commercial and Industrial; Consumer)ย
- Apply payments and advances to loansย
- Act as servicing agent forย participated/syndicated loan transactionsย
- Perform servicing for troubled loans, i.e., non-accruals, OREO, and charge-offsย
- Pay invoicesย
- Pay assessment fees for Residential Condominium Loansย
- Pay real estate taxesย
- Process paid loansย
- Prepare payoff lettersย
- Prepare release deed if necessary and send for recordingย
2. Review new and renewed loansย
- Review new and/or renewed loans on the Fiserv system against boarding dataย
- Responsible forย maintainingย original loan documents and files in the collateral vaultย
3. Answer client inquiriesย regardingย loan balance, transactions & payoffsย
- Transfer money between accountsย
- Prepare wire transfer requestsย
- Research and correct errorsย
4. Audit data entry of new and renewed loansย
- Perform maintenance as neededย
- Scan key loan documentsย
5. Audit all previous dayโs servicing activityย
- Correct errors as foundย
- Perform reconciliation process for GL accountsย
6. Monitor hazard and flood insuranceย ย
- Contact agents/borrowers to obtain current certificate of insuranceย
- Update weekly insurance tickler reportย
- Add lapsed insurance coverage to force placed insurance programย ย
7. Performย additionalย departmental duties such as:ย
- Order credit reports, titleย workย and/or flood searchesย
- Assist with Board reportsย
- Update Proceduresย
- Input CRA/HMDA information into the FFIEC CRA/HMDA data entry softwareย
- Assistย in the processing of construction drawsย
- Update collateral & insurance reportย
- Prepare Subordinations of lienย ย
- Provide notary servicesย
- Monthly insurance monitoringย
- Monthly available commitment report monitoringย
- Collateral maintenance for tax certificates secured loansย
- Review daily reportsย
- Update loans secured by stock/bonds/investment accounts reportย
- Input Customer Due Diligence and Beneficial Ownership information into BAM+ย
Nonessential Dutiesย
Knowledge, Skills and Abilities
- Detail orientedย
- Basic accounting knowledgeย
- Working knowledge of Bank regulationsย preferredย
Training & Experienceย
- High School diploma or GEDย
- College degree preferredย
- 0ย -ย 2ย years banking experienceย
- Microsoftย proficiencyย
- Fiserv application experienceย preferred
Compensation
Expected Salary Range: $45,000 - $53,000
Salary will be negotiated based on relevant skills and experience as well as internal equity and alignment with market data.
Benefits
First Bank Chicago offers a comprehensive benefits package including medical/dental/vision/life insurance; 401(k); paid time off (PTO); and eligibility for an annual bonus. ย For a complete listing of benefits, please visit our website: ย https://firstbankchicago.com/Employee-Benefits.ย
First Bank Chicago is an Equal Opportunity Employer: disability/veteran
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