Credit Operations Specialist

Job Description

Job Description

Description:

The Federal Savings Bank, a national bank specializing in mortgage lending, is hiring an experienced Credit Operations Specialist to join our team based in our Chicago, IL corporate headquarters. Relevant experience in commercial loan maintenance, delinquent loan management, credit analysis, and reporting are required.

This position is based in the Logan Square neighborhood in Chicago, IL and requires the ability to work a hybrid schedule (3 days/week in office). Qualified candidates should reside a commutable distance at the time of application.

What We Offer:

• PTO that increases with length of employment
• Company culture that fosters work/life balance
• Health, Dental, and Vision insurance plans
• FSA and HSA plan options
• Company-paid life insurance
• 401k with partial match
• In-house virtual training opportunities to broaden your industry knowledge
• Career advancement
• Big bank capability, small-bank feel

Duties and Responsibilities:

Commercial Loan Responsibilities:

• Provide insight to the Sales team Commercial products and loan requirements and provide guidance on loan structuring and approval process to Mortgage Bankers.
• Lead initiatives to implement process, procedure, and technology solutions to improve workflow, tracking and adherence to compliance.
• Underwriting preparation of CAF/CAM and present to Credit Committee.
• Collaborate with the closing team on approved loans to ensure terms are met.
• Request and track financial statements.
• Prepare annual reviews.
• Reviews loans boarded to ClearTouch and alert to any errors.

Commercial Delinquency Responsibilities:

• Contact delinquent borrowers and collect past due amounts.
• Prepare workout plan (foreclosure, extension, modification, etc.).
• Prepare and discuss activity in monthly Watchlist report as needed.
• Prepare Default letter in conjunction with attorney.
• Manage the foreclosure/bankruptcy process with the goal to resolve the default as quickly as possible.
• Obtain updated appraisals.
• Arrange and monitor listings with sales agents to ensure market awareness. Update management on the progress and any issues that arise.

Collection Responsibilities:

• Residential and Construction collections 60+ days delinquent.
• Prepare and discuss activity in monthly Watchlist report as needed.
• Prepare workout plan (foreclosure, extension, modification, etc.).
• Prepare Default letter in conjunction with attorney.
• Manage the foreclosure/bankruptcy process with the goal to resolve the default as quickly as possible.
• Obtain updated appraisals for Watchlist loans.
• Work with Finance department to forecast consumer charge offs.
• Responsible for booking charge offs in the proper month.
• Reviews loans boarded to ClearTouch and alert to any errors.
• Arrange and monitor listings with sales agents to ensure market awareness. Update management on the progress and any issues that arise.

General Responsibilities:

• Prepare assigned portions of the monthly Credit Book
• Complete BSA Loan Due Diligence Form in Encompass
• Assist in audits
• Attend and actively participate in weekly and monthly meetings for Credit Committee

• Bachelor's degree in Accounting or Finance preferred
• 2-3 years' experience related experience in credit operations
• Fiserv Cleartouch software experience strongly preferred
• Encompass LOS experience strongly preferred
• Proficiency in Microsoft Office, particularly in Excel
• Demonstrate professionalism when responding to deadlines and matters of urgency
• Creative problem-solver
• Autonomous and internally motivated
• Must be resourceful in utilizing tools and information available
• Ability to thrive in minutiae/highly attentive to details
• Communicate with ease and professionalism with high levels of leadership
• Favorable credit and background required

The Federal Savings Bank is an equal opportunity employer . All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.