Sr. Loan Servicing Specialist
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 or Manager and following established policies and procedures, perform all post-closing duties relating to the servicing of the Bank’s commercial loan portfolio according to separation of duties established by the Department Head.
The incumbent has no direct reports.
- Prepare participation/syndication settlement/advice
- Process and approve participation/syndication transactions
- Coordinate syndicated and participated activity, including booking new loans and daily transactions with borrowers, internal partners, and other banks, as assigned
- Books new loans, modifications, renewals, and extensions
- Perform callback and review of new loans, renewals, extensions and modifications processed by staff, and input of index values entered into IBS
- Review of the new Note Variable plan for verification of accurate input into IBS
- Instruct staff on corrections that need to be made to the notes in the loan system
- Perform loan maintenance activities
- On a daily basis, obtain index values and prepare worksheet used to update index in loan systems
- Review various reports to accurately service the loan and account maintenance activity
- Process transactions for accounts assigned to Special Assets Department
- Process charge-offs and transfer to OREO
- Process non-accrual and deferred active payments/rejects
- Research and clear outstanding items in general ledger
- Process fee reversals in IBS
Education: High school diploma or equivalent; some college courses a plus.
Experience: 4+ years of commercial loan servicing experience required
- PC literate, proficiency with MS Office
- General knowledge/proficiency of IBS loan system a plus
- Able to work in a fast pace environment while maintaining a high level of accuracy
- Strong organization skills, able to prioritize work
- Strong problem-solving skills
- Strong verbal and written communication skills
- Bilingual (English, Mandarin or Cantonese) is a plus
- Rosemead, CA, USA