Full-Time

Loan Servicing Officer

Posted on 11/22/2024

State Street

State Street

10,001+ employees

Asset management and custody banking services

Fintech
Financial Services

Compensation Overview

$60k - $90kAnnually

Junior, Mid

Company Historically Provides H1B Sponsorship

Boston, MA, USA

Requires onsite presence in Boston for four days per week.

Category
Commercial Banking
Finance & Banking
Required Skills
Excel/Numbers/Sheets
Requirements
  • 2+ years of loan operations and servicing support
  • Demonstrate understanding of Loan Processes, Procedures, Products and Services, and accounting principles
  • Proficiency with Loan IQ required
  • Proficiency with Microsoft Excel required; macro experience would be desirable
  • Good organizational skills and the ability to prioritize under tight deadlines
  • Prior banking and/or lending knowledge required
Responsibilities
  • Coordinate team to update loan accounting system for all new, renewing and terminating counterparties and lines of credit
  • Analyze documentation to determine required data entry to loan accounting system
  • Review transactional documentation and process principal, interest and fee transactions on loan accounting system
  • Execute cash movements via internal transfer and Fed wire/SWIFT
  • Reconcile general ledger accounts; document and resolve discrepancies timely
  • Review and follow up on various exceptions
  • Assist with regulatory reporting requests, audit requests, and assurance reviews
  • Able to identify, mitigate, manage, resolve, and escalate risks and issues
  • Manage the operation of the LIQ and SVS booking platforms, identifying enhancement possibilities and working internal IT partners and business stakeholders to ensure ongoing performance and functionality within the systems
  • Develop and enforce procedures, and production schedules to assure timely, accurate completion of servicing functions
  • Manage the resolution of any customer concerns
  • Ensure adherence to regulations and policies
  • Assume additional responsibilities as requested by management
  • Be in Boston 4 days per week

State Street Corporation operates in the financial services industry, focusing on asset management and custody banking. It provides a variety of services to institutional investors, such as mutual funds and pension funds, through its division, State Street Global Advisors, which manages investment portfolios and offers advisory services. The company serves a wide range of clients, including corporations, governments, and non-profit organizations, and utilizes its global network and expertise to deliver customized financial solutions. State Street generates revenue from management fees for overseeing client assets, transaction fees from trading, and service fees for custody and administration. Additionally, it is recognized for its commitment to leadership and diversity, promoting a culture that supports employee growth and inclusion.

Company Stage

IPO

Total Funding

N/A

Headquarters

Boston, Massachusetts

Founded

1792

Growth & Insights
Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
Simplify Jobs

Simplify's Take

What believers are saying

  • Growing demand for ESG investing aligns with State Street's diversity commitment.
  • Digital assets offer new growth opportunities for State Street's custody services.
  • Expansion of passive investing boosts market share for State Street Global Advisors.

What critics are saying

  • Intense competition from BlackRock and Vanguard may impact State Street's growth.
  • Regulatory scrutiny on ESG practices could affect State Street's operations.
  • Geopolitical tensions in expansion regions may disrupt State Street's strategic plans.

What makes State Street unique

  • State Street excels in asset management and custody banking for institutional investors.
  • The company is committed to diversity and inclusion in financial services.
  • State Street leverages advanced data analytics to enhance investment management services.

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