Loan Balancing Specialist
Company: Phaxis LLC
Location: Los Angeles
Posted on: November 26, 2022
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
- 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
- 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
- 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
- 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.).
- Minimum of 2 years commercial loan processing
- 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
- Knowledge of Interface relationship from FMS, Deposits, POD
items, etc. is critical to the balancing function.
- Solid problem solving and extensive knowledge of financial
- 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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