Loan Boarding Specialist II

First Interstate Bank - Sioux Falls, SD

Full-time - Entry Level

Sioux Falls, SD

Credit Intermediation and Related Activities

About the position

The Loan Boarding Specialist is a critical role within First Interstate Bank, responsible for the meticulous review, verification, and processing of closed loan documents. This position ensures that all required documentation is received and accurately entered into the Loan Accounting System, adhering to established bank procedures and policies. The specialist will handle a variety of loan products, including Consumer, Commercial, and Specialty loans, which may range from simple to complex transactions. The role demands a high level of attention to detail to meet the completeness, turn time, and accuracy requirements as outlined in service level agreements. In this position, the Loan Boarding Specialist will board and book closed loans into the Loan Accounting System, ensuring compliance with all relevant regulations and collateral information. The specialist will review batch-scanned documents to verify their accuracy and proper execution, ensuring that there are no alterations. Coordination with various parties is essential to obtain any missing information necessary for meeting boarding requirements. Once the boarding package is validated for completeness, the specialist will board the loans, determine funding requirements, and forward the information to the Loan Funding queue. Timely and accurate entries into the loan activation system (TMS) are also part of the responsibilities, along with monitoring queue volumes and adjusting workloads as necessary to maintain efficiency. The Loan Boarding Specialist must perform all job responsibilities in accordance with the established standards for completeness, accuracy, and turn time, ensuring that the bank's service level agreements are consistently met. This role is vital in maintaining the integrity of the bank's loan processing operations and contributes significantly to the overall customer experience.

Responsibilities

• Boards/Books closed loans to the Loan Accounting System, including compliance and collateral information.
• Reviews the batch-scanned documents to verify receipt, accuracy, and proper execution of loan documents and that there are no alterations in the documents.
• Coordinates efforts with appropriate parties to obtain missing information needed to meet boarding requirements.
• Upon validation of completeness of boarding package, boards loans, determines funding requirements and forwards to Loan Funding queue.
• Performs loan activating TMS entries in a timely and accurate manner.
• Monitors queue volumes and adjusts workload as necessary.
• Performs job responsibilities in accordance with the completeness, accuracy and turn time standards per established service level agreements.

Requirements

• High School diploma or general education degree (GED) required; Bachelor's degree (BA/BS) from a four-year College or University preferred.
• Minimum of three (3) years' work experience in a financial institution.
• Proficient in consumer and commercial lending and loans and applicable loan documents with an understanding of loan accounting systems, loan payment types and processing and ability to research and resolve accounting errors preferred.
• Advanced personal computer skills with demonstrated knowledge of Microsoft EXCEL, WORD, and email.
• Strong verbal and written communication skills, interpersonal skills and team orientation.
• Ability to meet deadlines and appropriately escalate issues requiring problem solving and decision making.

Nice-to-haves

• Experience with loan accounting systems and processing.
• Knowledge of regulatory compliance related to loan documentation.

Benefits

• Accrue and use paid time off (PTO) immediately with no waiting period.
• Paid federal holidays in addition to PTO.
• Child Care Assistance Program for eligible dependent(s).
• Monthly stipend for fitness club membership or exercise-related classes.