Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
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Job Description:
Responsible for the day-to-day analysis, research and resolution of varied problems. Functions include administering defined procedures, analysis and report generation, and exception processing. Coordinates the implementation of products/services and operational solutions. May assist in designing, documenting, implementing, and monitoring of new products/services. Provides guidance to associates within own unit regarding procedural, technical and/or operational changes. Incumbents have full working knowledge of operations environment acquired through experience in an operations environment and on the job training. Individuals typically have 2 to 4 years of experience.
The primary responsibility of the Post Closing Loan Specialist position is perfecting the bank's collateral by tracking and clearing collateral and documentation exceptions, UCC continuations and monitoring various types of Hazard Insurance renewals.
Responsibilities:
- Account Receivable and Inventory analysis supporting Asset Based Lending loan portfolios
- Determine eligible client collateral in accordance with Credit Agreement
- Review and understand client trends in relation to Accounts Receivable, Accounts Payable and Inventory collateral levels
- Identify and escalate potential risk items in client loan support documentation
- Effectively communicate analysis to business partners & clients
Extracting / formatting / uploading client report data for multiple lending lines of business Review client file submissions for completeness and assess file format for predetermined requirements - Coordinate the receipt of missing/incomplete documentation with our internal Servicing partners
- Collaborate with internal Servicing Partners to insure correct data extraction
- Create and update formulas within data extraction tool used to upload client files to analytical application
- Monitors collateral/documentation exceptions reports for the receipt of trailing loan documentation.
- Monitors system of record ticklers for upcoming expiration of UCC's. Processes the UCC3 continuations via the bank's vendor.
- Records Custom Mortgage Loan exceptions on the loan system of record.
- Partners with Credit Managers and Client Teams to resolve outstanding exceptions.
- Solid understanding of loan documentation required to perfect the Bank's security possession.
- Attention to detail, ability to multi-task, time management, self-starter and ability to function independently.
- Strong verbal and written communication skills
- Work effectively with business partners and clients toward a common goal.
- Strong PC skills including WORD and EXCEL.
- Practical understanding of credit structures and loan accounting principles.
- Systems/Applications: Loan IQ, Interact, Tradeline, CT Lien Solutions, EDR and GFS.
Required Skills:
- Attention to Detail
- Customer and Client Focus
- Monitoring, Surveillance, and Testing
- Process Performance Management
- Research
- Adaptability
- Business Analytics
- Critical Thinking
- Reporting
- Written Communications
- Data Management
- Policies, Procedures, and Guidelines Management
- Process Design
- Process Effectiveness
- Strategic Thinking
Desired Skills:
Bachelor's degree
Shift:
1st shift (United States of America)
Hours Per Week:
40