Loan Administrator 2
Bank of America
Loan Administrator 2
Bank of America
Runs a US consumer bank, brokerage and investment bank
Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
This job is responsible for managing collateralized debt obligations and issue tracker reports to perfect, monitor and release the bank's collateral. Key responsibilities include maintaining control of the bank's collateral through accurate booking on the system of record (SOR). Job expectations include setting up and standardizing collateral files, preparing and reviewing tickler and exception tracking data, reviewing insurance adequacy, monitoring evidence of insurance and maintaining and/or releasing lien position for collateral.
Responsibilities:
Maintains data accuracy and completes all collateral processes timely
Receives incoming loan files and reviews for compliance with bank and federal guidelines
Maintains relationships with Relationship Administrators to ensure efficient and high-quality loan processing
Gives technical advice and guidance to business units and interdisciplinary teams on projects
Maintains systems of record for continued monitoring of collateral and insurance
Works in a paperless environment and adheres to compliance guidelines
Promotes collaboration and communicates with impact; learns and adapts quickly; holds self and others accountable for high performance standards
Line of Business Description:
This position is responsible for supporting multiple lines of business with the timely and accurate release of commercial loan collateral including but not limited to real estate, UCCs, vehicle liens and life insurance. Responsible for conducting in-depth due diligence of Bank collateral utilizing systems of record (SoR) and through review of legal loan documentation. Responsible for accurate document preparation of lien releases, validation of proper workflow approvals, and communication with internal and external clients. Responsible to update SoR and ensure collateral release completion through jurisdictional entities.
Responsibilities:
Maintains data accuracy and completes all collateral processes timely
Receives incoming loan files and reviews for compliance with bank and federal guidelines
Maintains relationships with Relationship Administrators to ensure efficient and high-quality loan processing
Gives technical advice and guidance to business units and interdisciplinary teams on projects
Maintains systems of record for continued monitoring of collateral and insurance
Works in a paperless environment and adheres to compliance guidelines
Promotes collaboration and communicates with impact; learns and adapts quickly; holds self and others accountable for high performance standards
Required Qualifications:
Must have credit agreement or legal documentation knowledge
Must have previous banking experience (min 1 year)
Ability to work independently with little management supervision
Exceptional communication skills (both verbal and written)
Desired Qualifications:
Experience with LoanIQ
Experience with CreditCenter
Skills:
Knowledge of commercial loan documentation and loan accounting systems
Experience preparing real estate, UCC, or other collateral documents
Excellent verbal and written communication skills. Ability to communicate professionally with internal and external clients.
Well organized and efficient; adept at multitasking in a fast-paced environment
Proficiency with Microsoft Office, with focus on Word and Excel
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift:
1st shift (United States of America)Hours Per Week:
40Runs a US consumer bank, brokerage and investment bank
Bank of America runs one of the largest US banks, serving consumers, small businesses, wealthy families, corporations and institutional investors. Alongside checking accounts, credit cards, mortgages and business loans, it owns the Merrill brokerage, a private bank for wealthy clients and a global investment bank that advises on deals and trades stocks and bonds. Customers reach it through thousands of branches and ATMs and its mobile banking app. It earns money mainly from the gap between what it charges on loans and pays on deposits, plus fees from advice, asset management, deal work and trading. It grew from a San Francisco bank founded in 1904 and is headquartered in Charlotte, North Carolina.
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