Loan Servicing Admin II (Commercial Loans)Global Operations

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 an 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.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
 

Job Description:
Primary responsibility is to serve as point of contact for assigned client (internal / external) for all loan related servicing matters on low to moderately complex deals. Under supervision, deliver the highest level of service to lenders/investors, borrowers, vendors and internal business units while ensuring compliance with servicing agreements, government regulations and/or Company policies. Keys all transactions into System of Record/Loan Servicing System and/or workflow tool. Ensures all communication occurs timely and accurately. Monitor assigned loans to ensure funding and payment compliance with loan servicing agreements, loan documentation and Lender/Investor instructions. Coordinate fundings with Fulfillment and Assignment Desk as needed. Monitor, research or instruct payment processing for borrower payments, disbursements, fees, and collect appropriate fees due lender or servicer. Perform payoff quotes and related calculations including prepayment calculations. Maintain past due principal, interest and fees as well as reconciliation exceptions within acceptable levels. May assist managers in directing workflow and performing QA.

Line of Business Job Description

GCO: Global Credit Operations-Handles day-to-day customer requests for a broad scope of different business segments ranging from Small Business to Middle Market clients. Handles inquiries from customers, lenders and business partners.  Develops a basic understanding of credit-related products and gains experience with credit documentation.  Demonstrates good problem solving skills, the ability to handle multiple tasks, and the willingness to work through issues while taking ownership.  

Minimum Qualifications:

• Minimum 2 years of proficient experience servicing commercial loan clients, including processing and reconciling loan activity.

• Ability to interpret loan agreements and credit documentation and apply terms accurately.

• Experience reviewing and reconciling loan transaction histories, including payments, accruals, and adjustments.

• Strong working knowledge of interest calculations, rate options, and accrual methodologies.

• Ability to clearly articulate loan functionality and activity to internal partners and external clients.

• Process daily loan servicing transactions, resolve discrepancies, and maintain accurate system records in accordance with bank policy and controls.

Desired Skills:

• Proficient with LoanIQ

Skills:

• Adaptability

• Attention to Detail

• Data Collection and Entry

• Problem Solving

• Written Communications

• Analytical Thinking

• Oral Communications

• Prioritization

• Quality Assurance

• Recording/Organizing Information

• Customer and Client Focus

• Data Quality Management

• Relationship Building

• Research

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Shift:

Hours Per Week: