First Commonwealth Bank Job - 45422201 | CareerArc
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Company: First Commonwealth Bank
Location: Indiana, PA
Career Level: Associate
Industries: Banking, Insurance, Financial Services


The Senior Loan Operations Specialist provides client service which exceeds client expectations and works to mitigate and minimize the inherent risks in Lending documentation. Client service includes processing payments, advances and rate changes, monitoring Loan Letter of Credit Fees for renewals and/or terminations, and performing special or unique processing for high value loan relationships. S/he also assists in training new employees and develops and maintains procedures in order to keep workflows aligned with appropriate internal controls. S/he will communicate with all areas related to lending process, and must manage communication between departmental sections in order to foster cooperation within the department.

Essential Job Responsibilities

1. Becomes and remains proficient in all First Commonwealth loan related software, including but not limited to Silverlake Loans, Laser Pro, JXchange, CCMC, Data Scan and Encompass 360.
2. Completes special processing related to the terms agreed upon by the bank for select high value, unique processing, loan relationships.
3. Processes payments and completes monthly reconcilements related to Fannie Mae, Freddie Mac, Student Loans, Federal Home Loan Bank and the Small Business Administration.
4. Processes requests for payments, advances, and rate changes received from the correspondent “lead” bank on multi-million dollar Participation Bought Commercial Loans by:
a. Processing of payments, advances, conversions, fees and rate changes on SilverLake.
b. Communicating as necessary with correspondent banks.
c. Reconciling principal, interest, and rates between the notices received from the correspondent bank and SilverLake.
5. Receives and responds to payments, advances, and rate change requests from various channels for multi-million dollar Participation Sold Commercial Loans by:
a. Providing notices to participating banks when a payment, advance, conversion, or rate changes needs processed.
b. Processing payments, advances, and rate changes on SilverLake.
c. Communicating as necessary with participating banks.

6. Processes manual rate changes on non-standard loans in which an automated rate change cannot be established.
7. Reads and interprets loan documents to review every Change in Terms for accuracy by comparing the loan documents to SilverLake.
8. Monitors Letter of Credit Fees for renewal and termination by:
a. Reading and interpreting commercial loan documents
b. Completing monthly reconcilement of the Letter of Credit Fees
c. Processing Letter of Credit Fees
d. Corresponding with appropriate bank personnel

9. Provides various industry indexes for SilverLake Loans to business partners by conducting research and accessing the following internet sites:
a. Federal Reserve
b. Wall Street Journal
c. Federal Home Loan Bank
d. US Treasury
e. Bloomberg

10. Provides support to Mortgage Servicing Manager and assists with all assigned loan projects and duties.

11. Develops and maintains procedures to ensure the procedures are up to date and include appropriate internal controls.

Bona Fide Occupational Qualifications

1. High School Diploma or equivalent.

2. Minimum of five (5) years of experience in a business environment or three (3) years in a banking environment including two (2) years in Loan Operations. Relevant post-secondary education may substitute for some required experience.

3. Proficient reading, writing, and grammar skills; proficient analytical and mathematical skills; proficient communicative and interpersonal relations skills.

4. May be eligible for Telecommuting.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)

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