Loan Servicing Admin

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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Responsible for the fulfillment, servicing and protection of credit offerings for business banking, Global Wealth & Investment Management (GWIM), commercial and corporate clients as well as leasing and trade products. Primary responsibility is to serve as point of contact for assigned Borrower and Lender/Investor for all loan related servicing matters on moderately complex deals. With some supervision, deliver the highest level of service to lenders/investors, borrowers, vendors and internal business units while ensuring compliance with servicing agreements, government regulations and/or Company policies.

Keys all transactions into System of Record/Loan Servicing System and/or workflow tool. Ensures all communication occurs timely and accurately. Monitor assigned loans to ensure funding and payment compliance with loan servicing agreements, loan documentation and Lender/Investor instructions. Coordinate fundings with Fulfillment and Assignment Desk as needed. Monitor, research or instruct payment processing for borrower payments, disbursements, fees, and collect appropriate fees due lender or servicer.

Perform payoff quotes and related calculations including prepayment calculations. Maintain past due principal, interest and fees as well as reconciliation exceptions within acceptable levels. May assist managers in directing workflow and performing QA.

• Minimum of 2 years of customer service experience
• 1 year of legal documentation review experience
• Strong analytical and problem solving skills
• Excellent communication skills in dealing with escalations
• Excellent organization skills
• Ability to work independently
• Solid technical skills with Microsoft Office Products

• Loan IQ knowledge
• Syndicated lending experience

• Adaptability
• Attention to Detail
• Data Collection and Entry
• Written Communications
• Analytical Thinking Oral Communications
• Prioritization
• Problem Solving
• Recording/Organizing Information
• Customer and Client Focus
• Data Quality Management
• Quality Assurance
• Relationship Building
• Research

Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent

Shift: 1st shift (United States of America)

Hours Per Week: 40