Loan Operations Quality Assurance Analyst

Eaglebank - Silver Spring, MD

Full-time - Entry Level

Remote - Silver Spring, MD

Credit Intermediation and Related Activities

About the position

EagleBank is seeking a Loan Operations Quality Assurance Analyst to join our team in Silver Spring, MD. This full-time position is integral to our Loan Operations area, focusing on quality control reviews within Loan Servicing. The successful candidate will conduct independent post-booking reviews to ensure that loan profiles are accurate and compliant with all applicable bank policies, procedures, and federal/state regulations. The role requires a keen eye for detail and a commitment to maintaining high data integrity and accuracy in all loan-related activities. As a Loan Operations Analyst, you will be responsible for reconciling various loan general ledgers daily, processing SBA 1502 reports, and conducting annual escrow analyses for our mortgage loan portfolio. You will also assist with various duties and projects as assigned, contributing to the overall efficiency and effectiveness of the Loan Operations team. This position is eligible for hybrid remote work, allowing you to work in the Bournefield office four days a week while also enjoying the flexibility of telecommuting. Your responsibilities will include conducting daily reviews of post-booking loan data across all loan types, ensuring accuracy and taking corrective actions as necessary. You will monitor workflow queues, logs, and reports to meet departmental service level agreements (SLAs) consistently. Additionally, you will review accrual escrow analyses, process daily 1502 reports for SBA loans, and reconcile the Loan Expense General Ledger. You will also assist in cross-training with departmental functions and prepare monthly departmental reports, ensuring that all activities align with our commitment to quality and compliance.

Responsibilities

• Conduct daily reviews of post-booking loan data on all loan types assuring accuracy and corrective action, as required, is taken within the allotted time period.
• Image copies of reviews and other supporting documents, corrections, into FCM/Image Center.
• Monitor various workflow queues, logs, and reports to ensure various departmental SLAs such as, responding to email requests, processing ticklers, and loan booking functions are met consistently.
• Review accrual escrow analysis on portfolio mortgage loans produced by IBS and make corrections when necessary.
• Review tickler notifications and work with the business lines to ensure that coding on IBS is reflected accurately for any loans converting from interest only to repayment term.
• Process the daily 1502 report for both secondary and non-secondary SBA loans and actively follow-up on discrepancies between the Banks and Guidehouse reports.
• Ensure reconciliation of the associated General Ledger with the 1502 report by verifying the accuracy and consistency of loan payment posting according to the SOP of SBA (7A) loans.
• Reconcile the Loan Expense General Ledger and actively follow-up on clearing outstanding items.
• Perform quality control post-booking loan data review to ensure tickler tracking are set correctly.
• Prepare quarterly and annually unused commitment fee letters for clients and perform loan maintenance.
• Review billing statements for Letters of Credits to ensure ongoing bills are set up properly.
• Assist in cross-training with departmental functions and the preparation of monthly departmental reports.
• Assist with special projects as assigned and review and complete maintenance and activity reports as assigned.
• Take corrective actions, if needed, to avoid customer impact or audit violations.
• Assist with posting of loan payments, preparing Pay-off Letters, processing incoming wire payments, and processing monthly Line of Credit administration fees.
• Assist with issuance of refund/payoff overage checks and internal and external audits, as directed.

Requirements

• Two-year degree in business, finance, accounting, or formalized lending programs such as through American or Maryland Bankers Associations.
• High School Diploma or equivalent and additional two years of direct experience may be considered in lieu of degree.
• Minimum 5 years of loan servicing or related job experience in the financial industry.
• Proficient in MS Office particularly MS Excel and MS Word.
• Ability to communicate effectively with internal departments, external vendors, and third parties.
• Knowledge of General Ledger balancing and common banking transactions.
• Must possess excellent analytical and problem-solving skills, be detail-oriented with a commitment to a high level of data integrity and accuracy.

Nice-to-haves

• Four-year degree in business, finance, or related field.

Benefits

• Health savings account
• 401(k) 4% Match
• 401(k) matching
• Maternity and parental leaves
• Wellness discounts
• Healthcare premium sharing
• Employer funding in HSA account
• 100% 401(k) matching up to 4%