Unity Bank
  • Clinton, NJ, USA
  • Full Time

Position Summary

The Loan Accounting Specialist monitors and reviews the financial workflows and data integrity of the Loan Servicing Department for accuracy and improvements. The incumbent reviews and approves daily and monthly accounting reconciliations; prepares monthly,  quarterly and annual system and ad-hoc reports; ensures the maintenance of all commercial, SBA, consumer and residential mortgage loan portfolios. The Loan Accounting Specialist oversees the processing of loan transactions including OREO, charge-offs, non-accruals, loan payments, wire transfers, etc. 

 

Essential Functions

  • Prepare monthly and quarterly reports such as Reg O, Loan Officer Volume, Watch List, Residential Portfolio WAM and Product Trend, Risk Migration, Trade Zone Analysis and Portfolio Construction.
  • Review monthly and quarterly management reports such as Delinquency, OREO Roll Forward, ALLL, Call Report Support, and all automated reports.
  • Maintain all necessary loan reports through the Bank's ad-hoc reporting tool (Viewpoint) as requested.
  • Review and approve monthly 1502 Report and Remittance to Colson for accuracy; resolve any exceptions
  • Review and approve monthly remittances for sold residential and commercial loans (LSFO)
  • Approve the daily/monthly GL activity for accuracy and completeness prior to the submission to the Finance Department.
  • Review daily / weekly / monthly loan base rate maintenance performed in Navigator.
  • Collaborate on all audits, compliance reviews and independent loan reviews to ensure a satisfactory rating.
  • Review and maintain the data necessary for the pledging of commercial assets to the FHLB of New York.
  • Approve the daily/monthly reconciliations for accuracy and completeness prior to the submission to the Finance Department.
  • Oversee the investor reporting on the sold and serviced Residential and SBA loan portfolios.
  • Analyze customer accounts as needed.
  • Communicate, on a regular basis, with customers, regulators, and auditors.
  • Maintain technical and professional knowledge by attending educational workshops, obtaining relevant professional certifications, reviewing professional publications and books, establishing personal networks, participating in professional societies, and staying informed of any legal policy and procedural changes relating to commercial lending, accounting, and database reporting.
  • Maintain expert knowledge of policies, procedures, and federal and state law to ensure compliance with same.
  • Keep informed about industry changes, trends, and best practices, and assess the potential impact on Bank processes and procedures.

 

Additional Duties

 

  • Provide backup to loan operations manager as needed. 

 

 

Job Requirements and Qualifications

  • Job requires strict attention to details and thoroughness in the completion of job duties.
  • Job requires thorough analysis of information and use of logic to address complexity of data and information.
  • Job requires monitoring and assessing the performance of you, others, and the organization to make improvements or take corrective action.

Education and Experience

  • Bachelor's degree in business, accounting, or related field.
  • 5 years of experience in consumer, commercial, SBA and residential lending operations.
  • Experience processing SBA lending transactions (Colson/1502 Report).

 

Licenses and Certifications

N/A

Knowledge, Skills, and Abilities

  • Knowledge of accounting and finance principles and practices, the financial markets, banking, and the analysis and reporting of financial data.
  • Excellent computer skills in Microsoft Windows environment including proficiency in Word and Excel.
  • Excellent oral and written communication skills.
  • Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages. Ability to apply concepts of basic algebra.
  • Ability to read, analyze, and interpret legal documents, governmental regulations, and professional publications.
  • Ability to effectively present information and respond to inquiries from senior management, attorneys, vendors, government agents, and the general public.
  • Ability to write reports and business correspondence.
  • Ability to apply common sense understanding to carry out written and oral instructions. Ability to deal with problems involving several concrete variables in standardized situations.
  • Ability to speak and write clearly in order to effectively convey information so that others understand and as appropriate for the needs of the audience.
  • Ability to work independently.
  • Ability to provide direct supervision to subordinate staff members.
  • Excellent computer skills in a Microsoft Windows environment including proficiency in Word and Excel.

 

Physical Requirements

 

  • Ability to sit for long periods of time up to 75% of work hours.
  • Ability to use hands to grasp, handle or feel.
  • Ability to use computer keyboard and system to enter data and process information.
  • Ability to talk, listen and see.
  • Ability to use telephone to communicate with customers and employees.
  • Ability to use office equipment such as teller scanner, personal computer, telephone, copier, fax machine, adding machine etc.
  • Ability to lift up to 20 lbs. at least 25% of work hours.

 

Working Conditions

 

  • Moderate sound as in business office with office machines, computers, and people traffic.

 

This job description is not an employment agreement or contract, implied or otherwise. Unity Bank maintains "at will" employment.

This document describes the position currently available. It is intended to convey information essential to understanding the scope of the position and is not an exhaustive list of skills, efforts, duties, responsibilities or working conditions associated with it. Unity Bank reserves the right to modify duties or job descriptions at any time. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities at any time. Individuals may perform other duties as assigned, including work in other functional areas to cover absences or relief, to equalize peak work periods or otherwise balance the workload.

Unity Bank is committed to the principles of equal employment opportunity and prohibits discrimination in hiring, promotion and terms and conditions of employment on the basis of race, creed, color, national origin/nationality, ancestry, religion/religious practices or observances, age, sex, gender identity or expression, affectional or sexual orientation, marital status, civil union status, domestic partnership status, disability or perceived disability, atypical hereditary cellular or blood trait, genetic information, and status as a veteran or disabled veteran of, or liability for service in, the Armed Forces of the United States.

 

Unity Bank commits to making reasonable accommodation to the known physical or mental limitations of qualified individuals with disabilities and qualified disabled veterans provided the individual is able to perform the essential functions of the job, unless such accommodation would impose an undue hardship upon Unity Bank. A qualified employee or job applicant with a disability may request a reasonable accommodation by contacting Unity Bank's human resources department.

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