Loan Servicing Specialist IV

Introduction

Since 1973, East West Bank has served as a pathway to success. With over 120 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 an exclusive focus on the U.S. and Greater China markets. With a strong foundation, and enterprising spirit and a commitment to absolute integrity, East West Bank gives people the confidence to reach further.

Overview

The Loan Servicing Specialist IV is responsible for the more complex activities within Loan Servicing with all related research and compliance with applicable laws and regulations. The position may be responsible for Loan Sales/Purchases and its Investor Reporting. The position may include responsibilities for the troubled debt transaction processing including restructuring, charge-off, non-accrual and shadow accounting. Responsibilities include research and monitoring in any of the activities relating to Loan Servicing such as; Tickler Monitoring, Credit Bureau reporting and disputes, loan restructuring, IRS reporting, etc.

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 by reviewing the Business Loan Agreement.
• Monitor LIBOR, 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. ensuring proper availability and credit approval.
• Set up Collateral Record 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 Wire Instructions and input into the Wire System and/or Credit Funds to the borrower’s deposit account
• Process miscellaneous maintenance transactions
• May process Specialty Servicing activities such as; Equipment Leasing, Insurance Premium portfolio
• Perform End-of-Day balancing ensuring all activities are reconciled with the General Ledger
• Respond to internal customer inquiries
• Provide guidance and training to junior Loan Servicing Specialist
• 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 7 years of experience in the Loan Servicing Industry
• Knowledge of BSA/AML/OFAC Laws/Regulations, understand how these obligations relate to his/her role, and comply with these laws and regulations
• Knowledge of Credit Bureau Reporting
• Loan system experience required
• Proficient in Microsoft Office with advanced Excel skills required
• 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 $29.00/Hr. - USD $34.00/Hr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.