Job Information
Eastern Bank Operations Specialist in Lynn, Massachusetts
The Loan Operations Specialist timely inputs all new commercial and business banking loans and performs loan account maintenance accurately and timely in accordance with the established service levels. They are also able to serve as a point of contact for other members of the team as questions arise.
Responsibilities:
Process all commercial loan maintenance requests in the Bank’s core system
- Process note and commitment renewals, modifications and extensions originated in the nCino application; identify any discrepancies based on the credit approval, and loan documentation; communicate with requestor as appropriate to address and correct any issues
Monitor shared Servicing mailbox, Sales Management application, and interoffice mail for commercial loan maintenance requests such as participation/syndication advances, rate changes, borrowing base changes, tranche requests, commercial collections maintenance and any additional note or commitment renewals, modification or extensions sent outside of the nCino application
Daily booking of Commercial and Business Banking loans through respective manual or automated interface applications and balances daily work. Reviews and has a sound understanding of commercial loan documentation (Note, Loan Agreement, Escrow documents, etc.). Compares documentation to data in nCino and manually inputs appropriate fields FIS as needed to board the loan
Monitors pipeline of new loans by using reports and or views from the various loan origination systems and business lines. Works with management and peers to prioritize loans and manage volumes. Reviews and verifies receipt of required loan documentation within the front-end systems or loan folders. Assists peers with analyzing more complex loans and documentation
Research and resolve more complex commercial requests and issues that arise, and assist peers in resolving complex commercial, consumer, and mortgage requests as necessary
Complete daily reporting and monthly reconciliation, and remittances for various investors
Identify process improvements and efficiencies across all areas of responsibility. Work with management to leverage innovation and resources to achieve measurable result
Problem Solving & Decision Making :
Ability to balance changing priorities and work demands
Performs a variety of complex tasks.
Must work independently and follow established procedures to complete work properly and within the required timeframe
Ability to research and resolve complex customer issues
Communicates to management, trends and/or recommendations to improve efficiency and productivity within the department
REQUIREMENTS : (Describe the typical minimum requirements to perform the job.)
Education and Experience (Indicate the minimum formal education and experience the job requires. Note: The majority of jobs do not require a college degree as a minimum requirement.)
2-5 years of experience in a loan servicing role is required
Completion of high school degree or equivalent required
Ability to read and understand commercial loan documents and apply data from the documents to the servicing of the loans
Skills/Knowledge
Comprehensive knowledge of loan documentation for all lending products
Knowledge of commercial lending, participations and syndications
Loan knowledge including, but not limited to, billing receivables, accruals, must be able to interpret and follow loan notes, bills/statements and bank policies and procedures Accuracy and attention to detail
Good working knowledge of IBS Insight
Good research and communication skills
Proficiency with business machines (i.e. adding machines, PC skills
Proficiency with PC software (i.e. Microsoft Word, Excel, Internet)
Accuracy and attention to detail
Strong oral and written communication skills
Working Conditions
Must be able to work with minimal supervision and errors
Work must be completed within established timelines without exceptions
Communicates directly with Management, peers and business lines
Ability to work on-site 1-2 days per week
At Eastern Bank, we pride ourselves on supporting our employees by offering tremendous opportunity for individual growth. As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us. We are proud to offer comprehensive compensation plans and a benefits program called Total Rewards that includes medical, dental, vision, life and disability insurance, retirement, vacation and tuition reimbursement.
Eastern Bank is an Equal Opportunity Employer of women, people of color, LGBTQIA+, religion, national origin, citizenship, neurodivergence, age, Veterans, individuals with disabilities, or any other characteristic protected by law.
At Eastern Bank, we are dedicated to building a diverse, equitable, inclusive and authentic workplace. If you’re excited about this role but your experience doesn’t fully align with every qualification, we still encourage you to apply! You may be just the right candidate for this position or others across the company. Our Recruitment team is waiting to chat with YOU.