Operations Specialist II

Eastern Bank • Wakefield, MA • 3h ago

Pay Range: $30.69- $38.36

The posted salary range reflects Eastern's expected hiring range. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply. Eastern offers a robust benefits and retirement package. Please see the description of benefits included with this job posting for additional information.

Key Responsibilities

Loan Boarding and System Set Up

Book and maintain commercial, syndicated, participated, and institutional loans within the FIS bank's core loan servicing system. Process loan modifications, renewals, extensions, amendments, rate changes, tranche activity, commitments, and new loan funding transactions.

Loan Monetary Transactions and Balancing

Accurately process loan payments, advances, paydowns, payoffs, fees, and other monetary transactions. Review and reconcile loan balances, accrued interest, and payment activity against supporting documentation and servicing notices.

Research, Review and Support of Commercial Loan Servicing Activitie s

Research, resolve, and document general ledger variances and reconciliation differences related to loan activity. Support purchased and sold portfolios, including payment processing, rate changes, principal remittances, and investor reporting. Review loan documentation to ensure system setup accurately reflects contractual terms, including payment structures, amortization schedules, maturity dates, and interest rate provisions. Partner with Commercial Banking, Credit, Treasury, Accounting, Servicing, and external agent banks to ensure accurate servicing and reporting.

Administration, Audit and Controls

Analyze and resolve loan servicing exceptions, transaction discrepancies, and operational breaks. Prepare and support internal audits, regulatory examinations, operational reviews, and control testing activities. Maintain adherence to established procedures, internal controls, and operational risk management standards.

Preferred Experience

Experience supporting commercial, syndicated, participated, institutional, or agent bank loan portfolios, including loan booking, modifications, funding transactions, and servicing activities. Strong knowledge of loan accounting, general ledger reconciliations, interest accruals, amortization schedules, and variable-rate lending products, with the ability to research and resolve complex loan and accounting discrepancies. Experience working with agent banks and syndicated lending platforms. Ability to research and resolve complex loan servicing and accounting discrepancies independently. Strong attention to detail and analytical problem-solving skills. Ability to manage multiple priorities and deadlines in a high-volume, fast-paced environment. Strong collaboration skills with all areas of the bank. Proficiency with loan servicing and origination systems, Microsoft Excel, and operational reporting tools.

Qualifications

Bachelor's degree in business, Finance, Accounting, Economics, or related field preferred. 5+ years of experience in commercial loan operations, loan servicing, accounting operations, syndicated lending, or a related banking function. Experience with core loan systems and general ledger reconciliation processes preferred. Strong written and verbal communication skills. Ability to work independently while collaborating effectively across multiple business lines.

What Success Looks Like

The successful candidate will serve as a trusted operational partner responsible for ensuring commercial and syndicated loan transactions are accurately booked, reconciled, serviced, and reported while maintaining strong controls, minimizing operational risk, and supporting a growing and complex commercial lending portfolio.

At Eastern Bank, we pride ourselves on supporting our employees by offering tremendous opportunity for individual growth. As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us. We are proud to offer comprehensive compensation plans and a benefits program called Total Rewards that includes medical, dental, vision, life and disability insurance, retirement, vacation and tuition reimbursement.

Eastern Bank is an equal opportunity employer. All job applicants will be considered for employment without regard to race, color, religious creed, national origin, sex, sexual orientation, gender identity, genetic information, military service, age, ancestry, or disability.

At Eastern Bank, we are dedicated to building a diverse, equitable, inclusive and authentic workplace. If you're excited about this role but your experience doesn't fully align with every qualification, we still encourage you to apply! You may be just the right candidate for this position or others across the company. Our Recruitment team is waiting to chat with YOU.

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