Loan Boarding Specialist Senior Job Listing at City National Bank in Phoenix, AZ (Job ID 10592-2)

Description

LOAN BOARDING SPECIALIST SENIOR
WHAT IS THE OPPORTUNITY? Reviews all requests for boarding & funding for approval, completeness & accuracy. Boards new and renewed consumer, commercial and mortgage loans. Processes advances, payments & payoffs on various loan products. Maintains Guarantor records on the loan system. Performs all maintenance, calculate and adjust interest and fee accruals. Determines causes of rejected items and process corrections. Balances work and prepare appropriate GL entries to various cost centers as required.
What you will do

• Loan Account Set Up and OFAC Reporting and Compliance – Set up all entities, including borrowers, co-borrowers, and guarantors. Additionally, for all parties to the credit, ensure CIS records have been established prior to funding the loan. Recognition of the parties to the loan is determined from the CIS Addendum. Obtain waivers from compliance as needed.
• Loan Boarder is responsible to be familiar and understand FASB91 and GAAP accounting guidance related to treatment of fees/costs for new loans. For loans that are renewed, or significantly modified, loan boarder must determine if change is considered significant based upon comparison of cash flows in determining if fees can be taken into income or must be amortized over the life of renewed/modified loan.
• Pricing and Repayment Schedules – Loan Boarder is responsible to ensure for the accuracy of the entered pricing (All-in Rate, Margin, and Index, teaser rates, LIBOR pricing options, as applicable) and repayment schedules (Interest only period, repayment terms (Mortgage style amortization. Straight-line amortization, 12-month average amortization schedule, and SWAP related schedules, all of which may be customized for each particular client.
• Reporting requirements – Loan Boarders are responsible to enter critical information for reporting purposes gleaned and/or translated from the Credit Approval Document, Loan Documentation Checklist, or other documents which supports governmental, regulatory, and General Ledger/Financial and management reporting
• Loan Funding – Fund loan based upon disbursement authorization. Set up future disbursement account in ALDO as applicable. Funding make take the form of an out-going wire, credit to a demand deposit account, issuance of Cashier's Checks or offset to payoff/pay down an existing loan.

Must-Have*

• Bachelor's Degree or equivalent
• Minimum 5 years of loan processing experience in a financial institution required.
• Minimum 2 years of basic computer experience(e.g. Microsoft Word, Excel, Outlook) required.

Skills and Knowledge

• Comprehend and interpret language within credit agreements –both prepared in-house or by various attorney firms, where terminology and format may differ.
• Communicate directly with various bank groups, such as Business lines, and CLC support teams to resolve questions which may arise from the loan boarding process.

Compensation Starting base salary: $25.93 - $41.43 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
*To be considered for this position you must meet at least these basic qualifications
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
Benefits and Perks
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks.
ABOUT CITY NATIONAL
City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024. Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.* In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.

*City National Bank does business in Miami and the state of Florida as CN Bank.

For more information about City National, visit cnb.com.
EQUAL OPPORTUNITY EMPLOYER & REASONABLE ACCOMMODATION
City National Bank is an equal opportunity employer committed to promoting and maintaining a diverse, equitable and inclusive working environment where differences are valued and encouraged. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by the laws or regulations in the locations where we operate or in our Code of Conduct. READ MORE

If you are a qualified individual with a disability or a disabled veteran, you have the right to request a reasonable accommodation for any part of the employment process. Please contact us via email or leave a message at (213) 673-9139. These contact methods are dedicated to applicants whose disability prevents them from successfully applying online. Only messages left for this purpose will be returned. Responses may take up to two business days.

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