Commercial Loan Servicing Officer

People Drive Our Success

Are you enthusiastic, highly motivated, and have a strong work ethic?  If yes, come join our team! At Cathay Bank – we strive to provide a caring culture that supports your aspirations and success.  We believe people are our most valuable asset and we proudly foster growth and development empowering you to achieve your professional goals. We have thrived for 60 years and persevered through many economic cycles due to our team members’ drive and optimism. Together we can make a difference in the financial future of our communities.

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GENERAL SUMMARY

Under the supervision of the Loan Servicing Supervisor & Officer within the servicing team 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 including but not limited to the following functional duties:

The Commercial Servicing Officer will provide support and direction to less senior Specialists and will step in as back up to the Loan Servicing Supervisor.

DIRECT REPORTS

The incumbent has no direct reports.

ESSENTIAL FUNCTIONS

• Researches and resolve complex internal/external customer questions/discrepancies in loan accounting.


• Play key roles in department projects.

• Monitor the department’s shared email in-boxes and platforms to ensure completion of delegated items.


• Take lead role in special servicing processes that includes:




• Case Cost Lending


• SBA 1502 update and reporting


• SAD processing to include the following:




• Charge Offs


• OREO Transfers


• Accrual Changes


• Shadow Payment Processing






• Prepare GL Certifications.


• Serve as secondary reviewer and/or back-up of the following:




• Pay Off Statements


• FTI Balancing and Releases


• Daily Index Rate Sheet


• Established Control Reports




• Prepayment Penalty Report


• 85 Day Past Due Report


• Non-Accrual Exception Report

• Review and update Procedures and Job Aids to Assist management in ensuring loan servicing procedures adhere to bank policy and regulations.


• Responsible for research, review, and resolution of any Loan Servicing issues.


• Assist in short-term and long-term projects.


• Assist the CLS Supervisor in providing direction and guidance to staff in their assigned duties.


• Assist the CLS Supervisor with training and development of the team.


• Assist the CLS Supervisor and the Boarding team with complex research, review, and resolution of any Loan issues.


• Review vendor invoices.


• Provide general support, assistance, and backup for all servicing functions to include the following:

• Rate Rollovers and Repricing


• Establish new Rate Contract Sub-Notes


• Payments


• Payoffs


• Loan Advances


• Pay Off Statement Preparation


• System maintenance


• Release of Collateral Review


• Post Closing/Boarding document and Collateral Review.

QUALIFICATIONS

Education: High school diploma or equivalent; some college courses a plus.

Experience: Minimum of 5 years of commercial loan servicing experience required.

Skills/Ability: PC literate, proficiency with MS Office, knowledge of IBS loan system a plus, ability to work in a fast-paced environment while maintaining a high level of accuracy, strong problem-solving and organizational skills, bilingual (English, Mandarin or Cantonese) is a plus.

Pay Range: $39.42 to $43.27/hour

ON-GOING TRAINING

• Each team member is required to complete all required training including Compliance and Bank Secrecy Act/Anti-Money Laundering training suitable to his or her position within the Bank.

Pay determined based on job-related knowledge, skills, experience, and location.
This position may be eligible for a discretionary bonus.

Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k). 

Cathay Bank may collect personal information from potential job candidates and applicants. For more information on how we handle personal information and your applicable rights, please review our California Job Applicant Privacy Policy.

Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision-making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law.

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Cathay Bank endeavors to make www.CathayBank.com accessible to any and all users.  If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact, Mickey Hsu, FVP, Employee Relations Manager, at (626) 582-7370 or [email protected].  This contact information is for accommodation requests only and cannot be used to inquire about the status of applications.