The posting
Loan Administrator
New York, NY, USA
Full-time
Company Description
For more than 70 years, IDB Bank has made it our mission to be the best bank for our clients by putting their needs first, and the success we’ve enjoyed fundamentally comes down to our people. Here at IDB, you’ll work side by side with some of the most talented professionals in the industry who share a strong sense of teamwork and a passion for providing exceptional service down to the smallest detail. We offer a comprehensive benefits package that includes generous paid time off and the ability to participate in our medical coverage and 401(k) plan on your very first day with us. We are also committed to diversity and inclusion, and to providing all of our team members with an equal opportunity to succeed and make meaningful contributions within a work environment that is respectful, welcoming and inclusive.
Job Description
The Direct Debt group services all bilateral loans or direct lending obligation of the Bank for the NY, CA and FL offices. Direct lending is done out of the Corporate Lending Division, Real Estate, Installment Loans, International & Domestic Private Banking.
- Assist Team Lead in overseeing the day-to-day functions of a loan servicing team. Ensuring accurate and timely processing of loan transactions; loan onboarding, advances, payments, renewals, modifications and payoffs while maintain compliance with regulations and bank policies by leading, training and supervising a team of loan operations specialists.
- Back up for Team Lead’s responsibilities during his/her absence
- Assist with complex loans and provide training to less experience administrators
- Process daily work in Loan IQ, which includes: review of incoming faxes, email, and mail, processing advances, re pricings and rate changes, and interest, fee and principal payments to loans on direct, participated or syndicated deals.
- Responsible for matching incoming cash and ensuring release of outgoing cash for all transactions processed
- Obtain internal approval for advances and new borrowings as required.
- Ensure that Promissory or Grid Notes and other supporting documents are received, complete and fully executed, if not, follow-up with appropriate personnel in Lending.
- Interpret Credit Agreements, Amendments, Notes, Line Letters, etc. and update Loan IQ as indicated in the legal documents.
- Process origination fees and other closing costs.
- Communicate with internal lending officers and agent bank representatives on syndicated deals.
- Investigate and resolve customer inquiries and account discrepancies
- Reconciliation interest and fee discrepancies.
- Ensure that all work processed meets audit and compliance requirements.
- Participate in department projects and initiatives as required.
- Assist in testing and implementation of system enhancements as required.
- Prepare and circulate departmental reports as assigned.
- Other duties as assigned.
#LI-Hybrid
Qualifications
- Minimum 5 -10 years loan operations experience including supervisory/approval role
- Bachelor’s degree or equivalent education and related training
- Proficiency with Loan IQ
- Effective communication and interpersonal
- Ability to work independently and also interact as part of a team
- Attention to detail
- Capable of managing multiple tasks
- Ability to identify, analyze, and resolve accounting related problems independently
- Technical skills to include Windows systems and Microsoft Office products (Outlook, Excel and Word)
- Collaborate with Risk, Audit, Compliance, and Finance teams to address control gaps, implement corrective actions, and support examinations and audits.
- Drive process standardization and documentation efforts, ensuring procedures remain current and scalable as the business evolves.
- Act as a liaison between business users and technology teams to translate operational requirements into system solutions.
Preferred Experience
- Hands-on experience with FIS loan servicing platforms, syndicated loan systems, or core banking applications.
- Demonstrated participation in large-scale system implementations, conversions, platform migrations, or operational transformation initiatives.
- Strong understanding of banking operational controls, risk management practices, audit requirements, and regulatory expectations.
Compensation The expected annual salary for this position is between $70,000 and $100,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills and experience. In addition to base salary, our total rewards package also includes eligibility for an annual bonus, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement. Additional Information The Bank Will Make Reasonable Accommodations To The Following Employees To Allow Them To Perform The Essential Functions Of Their Position, Except Where Doing So Would Result In Undue Hardship To The Bank
- Those with a known mental or physical disability.
- Pregnant individuals and/or individuals with pregnancy or childbirth-related medical conditions.
- Victims of domestic violence, sex offenses or stalking.
- Employees with religious observance and practice obligations.
Any employee who believes he or she needs an accommodation for any of the above reasons should contact their supervisor or a member of Human Resources to request such an accommodation. In each case, the Bank will engage in a good faith written or oral dialogue concerning the individual’s accommodation needs; potential accommodations that may address the individual’s accommodation needs, including alternatives to a requested accommodation; and the difficulties that such potential accommodations may pose for the employer. The Bank retains the ultimate discretion to choose the appropriate reasonable accommodation. Upon reaching a final determination at the conclusion of the cooperative dialogue, the Bank will provide the requesting individual with a written final determination identifying any accommodation granted or denied. In addition, the Bank will maintain any information regarding the employee’s request and status in the strictest confidence, except as requested by the employee, as required on a need-to-know basis or as otherwise required by law. Disclaimer The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed. All your information will be kept confidential according to EEO guidelines. We are operating on a Hybrid schedule. NO AGENCIES PLEASE. IDB BANK, INCLUDING ITS SUBSIDIARIES AND DIVISIONS, PROVIDES EQUAL EMPLOYMENT OPPORTUNITIES TO ALL EMPLOYEES AND APPLICANTS FOR EMPLOYMENT WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, AGE, DISABILITY, GENETIC STATUS, CITIZENSHIP STATUS, MARITAL STATUS, MILITARY OR VETERAN STATUS, CURRENT UNEMPLOYMENT OR ANY OTHER LEGALLY PROTECTED CATEGORY IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE AND LOCAL LAW. NOTHING IN THIS SITE CONSTITUTES A PROMISE OR OFFER OF EMPLOYMENT. Kindly review our Privacy Notice and GLBA Consumer Privacy Notice.
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