Loan Administrator II

Job description

Job Description: At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! Job Description: This job is responsible for managing collateralized debt obligations and issue tracker reports to perfect, monitor and release the bank's collateral. Key responsibilities include maintaining control of the bank's collateral through accurate booking on the system of record (SOR). Job expectations include setting up and standardizing collateral files, preparing and reviewing tickler and exception tracking data, reviewing insurance adequacy, monitoring evidence of insurance and maintaining and/or releasing lien position for collateral. Responsibilities: Maintains data accuracy and completes all collateral processes timely Receives incoming loan files and reviews for compliance with bank and federal guidelines Maintains relationships with Relationship Administrators to ensure efficient and high-quality loan processing Gives technical advice and guidance to business units and interdisciplinary teams on projects Maintains systems of record for continued monitoring of collateral and insurance Works in a paperless environment and adheres to compliance guidelines Promotes collaboration and communicates with impact; learns and adapts quickly; holds self and others accountable for high performance standards Line of Business Description: This position is responsible for supporting multiple lines of business with the timely and accurate release of commercial loan collateral including but not limited to real estate, UCCs, vehicle liens and life insurance. Responsible for conducting in-depth due diligence of Bank collateral utilizing systems of record (SoR) and through review of legal loan documentation. Responsible for accurate document preparation of lien releases, validation of proper workflow approvals, and communication with internal and external clients. Responsible to update SoR and ensure collateral release completion through jurisdictional entities. Responsibilities: Maintains data accuracy and completes all collateral processes timely Receives incoming loan files and reviews for compliance with bank and federal guidelines Maintains relationships with Relationship Administrators to ensure efficient and high-quality loan processing Gives technical advice and guidance to business units and interdisciplinary teams on projects Maintains systems of record for continued monitoring of collateral and insurance Works in a paperless environment and adheres to compliance guidelines Promotes collaboration and communicates with impact; learns and adapts quickly; holds self and others accountable for high performance standards Required Qualifications: Must have credit agreement or legal documentation knowledge Must have previous banking experience (min 1 year) Ability to work independently with little management supervision Exceptional communication skills (both verbal and written) Desired Qualifications: Experience with LoanIQ Experience with CreditCenter Skills: Knowledge of commercial loan documentation and loan accounting systems Experience preparing real estate, UCC, or other collateral documents Excellent verbal and written communication skills. Ability to communicate professionally with internal and external clients. Well organized and efficient; adept at multitasking in a fast-paced environment Proficiency with Microsoft Office, with focus on Word and Excel Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent Shift: 1st shift (United States of America) Hours Per Week: 40