Farm Credit Services of America (FCSAmerica) is seeking a Loan Accounting Operations Specialist to join our team. This role is open to any of our current office locations and a home-based opportunity.
As a Loan Accounting Operations Specialist, you will be responsible for researching, analyzing, and processing all transactions for participated and syndicated loans in the Associations’ Agribusiness Capital portfolio. Expected to provide accurate, clear, and timely notification to participant and syndicate banks. The LOS will book new, renewed, and modified participation and syndication loans in loan accounting software. This position acts as our primary contact and SME for association employees and participant and syndicate bank employees. Able to review and comprehend complex legal documentation and leading bank notices to translate to loan accounting system. The LOS will prepare and process incoming and outgoing notifications to participant banks. Prepare and/or approve outgoing wires for syndication/participation loan transactions. Review boarding documentation and file maintenance changes for accuracy to core system. This role with also be responsible for technical training in computer systems, banking applications and lending with specialization in participated and syndicated loans. This position is expected to resolve a wide variety of loan accounting problems and to identify accounting system problems or issues.
Account Set Up and Servicing
- Establish and maintain strong relationships with lending partners, and teammates using both written and verbal communication.
- Create LoanIQaccounts based on customers' operational structure to produce accurate statements and data that will utilized in AgriPoint, Account Access, Account Information and reporting that is shared with the Funding Corp and Funding Banks
- Utilize account setup documentation, internal resources, loan documents, and lender provided documents to establish customers' accounts in LoanIQ.
- Perform loan servicing actions creating accounting system entries using the appropriate procedures and accounting principles and ensuring the work is accurate.
- Influence process and procedures by evaluating complex customer data to determine the most efficient method to setup accounts that will produce accurate billing and activity statements while meeting compliance and legal guidelines.
- Initiate wire activity while adhering to the associations’ fraud prevention and compliance guidelines
- Minimizes risk to the association through a solid understanding of procedural requirements - provides solutions to reduce errors, and to adhere to audit and control policies
- Provide LoanIQproduct support to teammates who utilize the data from LoanIQ. Support may occur through email, phone, online chat or in person meetings and requires knowledge of accounting, loan structure, and accrual calculations
- Identify and escalate advanced product support and more complex requests
- Organizes and prioritizes work to meet processing deadlines.
General Ledger Balance Sheet Account Reconciliations
- Responsible for completing and/or reviewing all general ledger balance sheet account reconciliations on a daily or monthly basis. Coordinate resolution of discrepancies identified with appropriate teammates
- Understand accounting policies and procedures to ensure financial reports provide complete and accurate information.
- Associates Degree in Finance, Accounting, or a related field is preferred
- 2+ years’ related experience in commercial lending environment, accounting, or banking operations
- Foundational understandingof agriculture is preferred
Farm Credit Services of America