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Loan Balancing Specialist

Company: Phaxis LLC
Location: Los Angeles
Posted on: November 26, 2022

Job Description:

This position is responsible for balancing and reconciling all "pass-through" loan accounts. Responsibilities include reconciling loan and lease control accounts, revolving credit "in-process" account, asset and liabilities suspense accounts, clearing all posting rejects and non-posts, and correcting transactions as needed.


Responsibilities are:


  • Researches and reconciles simple to moderate out of balance conditions for all loan accounts on FIS. Researches and balances individual loan processor's transactions, when applicable, and passes any correcting entries that may be required.
  • Reviews FIS reports for reconcilement of loan asset account balances. Researches and passes any correcting entries that may be required.
  • Reviews and reconciles daily designated DDA "bank control" accounts (e.g., ACH payments, consumer loan closing costs, etc.), GL transaction accounts (e.g., Cash Item Holdovers, East Coast Fundings, Colson Payable, SBA Repurchase payables).
  • Reconciles daily suspense resources, suspense liabilities and undisbursed borrower's funds.
  • Maintains ledger files, balancing, reconcilement and GL records per internal guidelines, and processes transactions related to bulk mortgage loans.
  • Provides support when needed for AFS reconcilement and all other duties as assigned.
  • Maintains a proactive commitment to established bank programs, such as Community Reinvestment Act (CRA) and Affirmative Action.
  • Complies fully with all Bank Operational and Credit policies and procedures as well as all regulatory requirements (e.g. Bank Secrecy Act, Know Your Client, Community Reinvestment Act, Fair Lending Practices, Code of Conduct, etc.).


    Qualifications are:


    • Minimum of 2 years commercial loan processing experience
    • Minimum 2 years of experience in balancing pass through accounts and interface applications
    • Minimum 2 years of basic accounting experience
    • MUST HAVE GREAT EXCEL SKILLS!


      Skills and Knowledge


      • Working knowledge and understanding of the accounting processes
      • Knowledge of Interface relationship from FMS, Deposits, POD items, etc. is critical to the balancing function.
      • Solid problem solving and extensive knowledge of financial calculations required.
      • Ability to review and reconcile a heavy volume of transactions and provide solutions to most problems.



Keywords: Phaxis LLC, Los Angeles , Loan Balancing Specialist, Other , Los Angeles, California

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