Specialized Commercial Loan Analyst II

$160,000 - $160,000/Yr

Comerica - Farmington Hills, MI

Full-time - Mid Level

Hybrid - Farmington Hills, MI

Credit Intermediation and Related Activities

About the position

The Specialized Commercial Loan Analyst II plays a crucial role in the Commercial Specialty Loan Operations Team at Comerica, focusing on the processing of Syndicated Part Sold, Part Bought, Special Assets Group, and Small Business Administration Loan Portfolios. This position is responsible for managing financial transactions, ensuring accurate financial postings, and collaborating with various internal and external stakeholders to resolve issues related to loan processing. The analyst will handle significant loan commitments and contribute to the financial reporting and operational efficiency of the team.

Responsibilities

• Process funding and advances for commercial loans.
• Interact with lenders, closers, attorneys, and agent banks to close, fund, and book transactions.
• Analyze and interpret complex documentation associated with payment applications.
• Initiate and approve outgoing wires for advances and fundings based on loan availability and credit agreements.
• Process financial transactions related to fundings, payments, and fees using AFS, Service Cloud, and DEALS.
• Track General Ledger entries to ensure timely clearing.
• Create SharePoint entries for fundings and send to review and booking.
• Communicate effectively with all lines of business within Comerica's framework.
• Review documentation and input interest rate changes, spread changes, and conversions for accurate financial reporting.
• Process adjustments to AFS on Canadian loans and send funds and fees required to Comerica Canada.
• Manage the accuracy and collection of unused commitment fees.
• Reconcile commercial loan balances and transactions against the agent bank's notice.
• Ensure interest accruals and principal balances are accurate for financial reporting.
• Mentor and train Commercial Loan Specialty Processor 1.

Requirements

• High School/GED
• 4 years of experience in Financial Services or Accounting
• 3 years of experience analyzing and interpreting commercial loan documentation
• 3 years of experience in commercial loan processing
• 2 years of experience in Word and Excel