Sr. Commercial Loan Servicing Specialist

People Drive Our Success

Are you enthusiastic, highly motivated, and have a strong work ethic? If yes, come join our team! At Cathay Bank we strive to provide a caring culture that supports your aspirations and success. We believe people are our most valuable asset and we proudly foster growth and development empowering you to achieve your professional goals. We have thrived for 60 years and persevered through many economic cycles due to our team members' drive and optimism.

Together we can make a difference in the financial future of our communities.

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Under the supervision of the Loan Servicing Supervisor & Officer within the servicing team and following established policies and procedures, perform all post‑closing duties relating to the servicing of the Bank's commercial loan portfolio according to separation of duties established by the Department Head including but not limited to the following functional duties:

• Monitor the department's shared email inboxes and platforms to ensure completion of delegated items.
• Perform special processing including:
  • SBA 1502 update and reporting
  • SAD processing:
    • Charge Offs
    • OREO Transfers
    • Accrual Changes
    • Shadow Payment Processing
• Prepare GL Certifications.
• Serve as secondary reviewer and/or backup of the following:
  • Pay Off Statements
  • FTI Balancing and Releases
  • Daily Index Rate Sheet
  • Established Control Reports:
    • Prepayment Penalty Report
    • 85 Day Past Due Report
    • Non‑Accrual Exception Report
• Review and update Procedures and Job Aids to assist management in ensuring loan servicing procedures adhere to bank policy and regulations.
• Responsible for research, review, and resolution of any Loan Servicing issues.
• Assist in short‑term and long‑term projects.
• Assist the CLS Supervisor in providing direction and guidance to staff in their assigned duties.
• Assist the CLS Supervisor with training and development of the team.
• Assist the CLS Supervisor and the Boarding team with complex research, review, and resolution of any Loan issues.
• Review vendor invoices.
• Provide general support, assistance, and backup for all servicing functions including:
  • Rate Rollovers and Repricing
  • Establish new Rate Contract Sub‑Notes
  • Payments
  • Payoffs
  • Loan Advances
  • Pay Off Statement Preparation
  • System maintenance
  • Release of Collateral Review
  • Post Closing/Boarding document and Collateral Review.

Education:

High school diploma or equivalent; some college courses a plus.

Experience:

Minimum of 4 years of commercial loan servicing experience required.

Skills/Ability: PC literate, proficiency with MS Office, knowledge of IBS loan system a plus, ability to work in a fast‑paced environment while maintaining a high level of accuracy, strong problem‑solving and organizational skills, bilingual (English, Mandarin or Cantonese) is a plus.

$28.85 - $36.06 / hour
Pay determined based on job‑related knowledge, skills, experience, and location. This position may be eligible for a discretionary bonus.

Cathay Bank offers its full‑time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes coverage for medical insurance, dental insurance, vision insurance, life insurance, long‑term disability insurance, and flexible spending accounts (FSAs). Additional coverage includes HSA with company contributions, voluntary coverages, and 401(k).

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Cathay Bank is an Equal Opportunity and Aff positive Action Employer. We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision‑making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law.

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