Loan Servicing Specialist II-Commercial
More than half a century ago, we opened our doors at Cathay Bank to serve the growing Chinese American community in Los Angeles. We helped our customers put down new roots with cars and homes, and we supported their businesses, which continue to sustain generations. We remain committed to enriching the journeys of our customers and the diverse communities we serve.
Over time, we’ve expanded along with our customers. Today, we’re a subsidiary of Cathay General Bancorp (NASDAQ: CATY), a publicly held bank holding company. We operate in nine states across the United States, including California, New York, Illinois, Washington, Texas, Maryland, Massachusetts, Nevada, and New Jersey, and we have outposts in Hong Kong, Beijing, Shanghai and Taipei. Forbes named us the #10 Best Bank in America in 2019.
Along with our extensive experience and innovative thinking, we bring an open mind to every interaction and a willingness to work with customers and communities in ways that best suit their needs. Our lines of business include personal banking, home mortgages, business banking, corporate
lending, cash management, SBA loan programs, community lending, international banking, foreign exchange, and wealth management.
Are you passionate about a potential career in the financial services industry? Cathay Bank is excited about what’s to come for our company and customers. Our employees are the reason our customers can get where they want to go and aspire to what’s next.
If you bring your best self to work, see opportunities instead of obstacles, and always want to advance in your career, then Cathay Bank may be a great fit for you. We’re excited to offer our employees opportunities to grow and develop in their career journey. We also provide the resources, support and freedom so that employees can best deliver an extraordinary customer experience.
Join Cathay Bank—and be energized by what’s possible for your career!
Under supervision of the Department Supervisor following established policies and procedures, perform all post-closing duties relating to the servicing of the Bank’s loan portfolio, according to separation of duties established by the Department Head including but not limited to the Essential Functions listed below.
The incumbent has no direct reports.
- Book new loans, renewals, extensions and modifications in accordance with credit approval and bank’s policies.
- Review daily maintenance, tickler and exception reports.
- Process all SBA loan transactions, reconcile various SBA G/Ls, pass-thru and deposit accounts.
- Monitor TCD tracking report, process TCD hold and release.
- Prepare and send outgoing wires.
- Enter index rate values into IBS.
- Process disbursements and payments for all loans and update system of record, as applicable.
- Balance Trade Innovation assigned Branches.
- Review and clear the items from the daily exception reports.
- Process activity and perform callbacks on all activity performed in department (including advances, payments and loan maintenance) as assigned.
- Coordinate syndicated and participated activity with borrowers, internal partners, and other banks.
- Prepare and certify the monthly general ledger accounts, as assigned.
- Respond to borrower, branch, internal partners and others with excellent customer service.
- Convert multiple loans into single loan structure in accordance with credit approval.
- Assist less experienced staff with research and questions.
- Complete understanding of the functions of Loan Servicing Assistant & Loan Servicing Specialist I position, including but not limited to the following: preparation of loan legal files for imaging, scan and file work papers and loan documents, process return items such as ACH rejects and NSF checks, update collateral information on loans, monitor and process wires, items in Loan Control and the Loan WIP accounts.
- Education: High school diploma or equivalent; some college courses a plus.
- Experience: 2+ years of commercial loan servicing experience preferred.
- Skills/Ability: PC literate, proficiency with MS Office; use of IBS loan system a plus; Ability to work in a fast pace environment while maintaining a high level of accuracy; Strong problem-solving and organizational skills; Bilingual (English, Mandarin or Cantonese) is a plus.
- Rosemead, CA, USA