Loan Boarding Specialist

$50,877 - $76,315/Yr

Royal Bank of Canada - Newark, DE

Full-time

Newark, DE

Credit Intermediation and Related Activities

About the position

The Loan Boarding Specialist is responsible for reviewing and processing requests for boarding and funding of various loan products, including consumer, commercial, and mortgage loans. This role involves ensuring the accuracy and completeness of loan setups, maintaining records, processing payments and advances, and balancing work with appropriate general ledger entries. The specialist must also comply with regulatory requirements and ensure proper reporting and documentation throughout the loan lifecycle.

Responsibilities

• Review requests for boarding and funding for approval, completeness, and accuracy.
• Board new and renewed consumer, commercial, and mortgage loans.
• Process advances, payments, and payoffs on various loan products.
• Maintain Guarantor records on the loan system.
• Perform maintenance, calculate, and adjust interest and fee accruals.
• Determine causes of rejected items and process corrections.
• Balance work and prepare appropriate GL entries to various cost centers as required.
• Set up all entities, including borrowers, co-borrowers, and guarantors, ensuring compliance with OFAC reporting.
• Familiarize with FASB91 and GAAP accounting guidance related to fees and costs for new loans.
• Ensure accuracy of pricing and repayment schedules for loans.
• Enter critical information for reporting purposes from various loan documents.
• Fund loans based on disbursement authorization.

Requirements

• H.S. Diploma
• Minimum 3 years of AFS experience
• Minimum 3 years of loan processing experience in a financial institution
• Minimum 2 years of basic computer experience (e.g. Microsoft Word, Excel, Outlook)

Nice-to-haves

• Ability to communicate effectively
• Able to handle a heavy volume of transactions and multiple tasks
• Detail oriented with strong follow-up skills
• Able to manually compute accrual adjustments
• Ability to operate Personal Computers and WordPerfect/Word Programs
• Able to operate calculators, encoding, fax and copying machines

Benefits

• Bonus and/or commissions eligibility
• Comprehensive benefits package as detailed in the provided link