Operations Specialist II

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. 

Eastern Bank is seeking a detail-oriented and highly analytical Loan Operations Specialist to support the booking, maintenance, and servicing of complex commercial lending relationships within our Loan Operations organization. This role is responsible for accurately processing financial transactions in the core loan system, booking new loans and modifications, supporting syndicated and institutional loan portfolios, performing loan accounting and general ledger reconciliations, and ensuring the integrity of loan data throughout the full loan lifecycle.

The ideal candidate brings experience with commercial, syndicated, participated, agented, or institutional loans, possesses a strong understanding of loan accounting, amortization, interest accruals, and payment application, and thrives in a fast-paced, highly controlled operational environment where accuracy and timeliness are critical.

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 Activities                                                           
•    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.