If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster's values, these set us apart as a bank and as an employer.
Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!
Commercial Loan support Sr. Associate plays a crucial role in ensuring the accuracy and integrity of our commercial loan accounts. Role will be responsible for analyzing, reconciling, and validating all commercial loan transactions, balances, and fees to ensure they are in accordance with the bank's policies and procedures. This role will collaborate with various internal and external stakeholders to respond to inquiries and resolution of exceptions.
Perform daily and monthly reconciliation of commercial loan accounts, including transactions, balances, interest accruals and fees
Work with internal stakeholders to investigate and resolve discrepancies
Collaborate with loan operation teams and various departments to ensure accurate and timely data entry and maintenance of loan accounts
Provide policy interpretation and direct support regarding reconciliation issues to the business lines.
Generate daily, monthly, quarterly and annual reports for loan operations teams and management
Balance General ledger and assigned commercial loan accounts
Preparing and processing loan payoffs
Develop and maintain strong working relationships with internal and external stakeholders
Manage and process FX transactions, non-performing transactions, risk rating changes, and other loan maintenance requiring credit approval. (LFT, Cost Center, etc.)
Conduct routine audits and reviews to ensure compliance with internal policies and procedures
Assist in preparation of materials as part of the annual external audits and SOX testing.
Identify and implement process improvements to enhance the efficiency and effectiveness of account reconciliation processes
Identify and report any errors or irregularities in loan accounts to the appropriate departments
Skills and Education Requirements
Bachelor's degree in accounting, finance, or related field
Minimum of 2 years of experience in account reconciliation, preferably in a commercial loan setting
In-depth understanding of loan accounting principles and regulations
Understanding of Non-Performing Loans is preferred
Strong knowledge of loan accounting principles and loan servicing systems
Proficient in MS Office suite, particularly Excel and other financial software
Strong analytical, problem-solving, and organizational skills
Excellent attention to detail and accuracy
Ability to prioritize and multitask effectively to achieve desired results
Ability to work independently and in a team environment
Strong verbal and written communication skills and interpersonal skills
The estimated salary range for this position is $25.00 HR to $29.95HR. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.
