Introduction:Since 1973, East West Bank has served as a pathway to success. With over 110 locations across the U.S. and Asia, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, and high-tech help build sustainable businesses and expand our associates’ potential for career advancement.Headquartered in California, East West Bank (Nasdaq: EWBC) is a top-performing commercial bank with a strong foundation, an enterprising spirit and a commitment to absolute integrity. East West Bank gives people the confidence to reach further. Overview:The Loan Servicing Specialist I is responsible for a variety of activities to support Loan Servicing with a focus on financial activities for complex lending products. The responsibilities for this role include but are not limited to; Advances on C & I loans ensuring advance requirements have been met, activities on Trade Finance Lines of credit including booking of Letters of Credit within availability of the established commitments, Interest Rate Roll Over, Demand and Payoff statements and payoff processing, reconciliation to General Ledger and end of day balancing. The position may be responsible for performing research on standard loans and portfolio scrub with QC reports and perform Equipment Leasing Servicing and other specialty products. Responsibilities:
Process all commercial loan advances on commercial and industrial Loans and specialty financing ensuring advance requirements have been met, funds are available with proper signing authority.
Monitor SOFR, or other Index, repricing and quote rate and reset the rates on the loan system ensuring proper effective dates based on the Notes and Loan Agreement.
Process commercial loan payments and loan recoveries.
Process all trade finance activities on the commercial loan system including Advances, Letters of Credit, Trust Receipts, Bankers Acceptances, etc.
Set up collateral records on cash secured letters of credit and place hold on deposit account
Process interest reserve payments on construction loans
Process commercial loan demand statements ensuring all principal and interest are included and inclusive of all appropriate fees
Process commercial loan payoffs and closing of commitments.
Prepare outgoing wires and/or credit funds to the customer’s deposit account
Process miscellaneous maintenance transactions
May process specialty servicing activities such as; equipment leasing, insurance premium portfolios
Perform end-of-day balancing ensuring all activities are reconciled with the general ledger
Respond to internal customer inquiries
Work on special projects as assigned by Manager related to the Data Accuracy and accurate compliance requirements.
Perform other duties as assigned
Qualifications:
Bachelor Degree in Finance or Accounting Degree preferred, or equivalent work related experience
Minimum 1-2 years of experience in the Loan Servicing Industry
Loan system experience required including document imaging system
Thorough understanding of Business Loan Agreement and its covenants and provisions relative to loan advances
Knowledge to C&I loan structure and risks, including trade finance loan structures
Proficient in Microsoft Office with advance Excel skills preferred
Excellent written and verbal communication skills required
Good organizational, analytical and problem solving skills
Ability to handle multiple tasks with excellent attention to detail
Ability to organize and maintain a high volume work environment
Ability to adapt quickly to changes and perform in a fast paced environment
Ability to build effective relationships as needed to effectively address issues and obstacles
Compensation: The base pay range for this position is USD $20.50/Hr. - USD $23.50/Hr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.
