Loan Accounting OPS Analyst
The Analyst must evaluate and interpret legal document's language to set up and maintain the Interest rates for all Commercial Loan activity. The analyst is responsible for maintaining the rate system on the daily basis to ensure rates are updated daily. The Analyst is responsible for monitoring and reconciling all the General Ledger Accounts associated with Commercial Loan servicing and act as a liaison with Corporate Controllers, Funds Control, Lending Groups, and various LTS Managers and staff. The Analyst is responsible researching and reconciling the Colson, SBA, Leasing, and Wire DDA accounts.
Duties and Responsibilities
Reconcilement and Financial Reporting Accuracy
- Manage the research out of balances to determine root cause of discrepancies in the following general Ledger Accounts associated with Commercial loan and Leasing activity 13150, 13151, 13160, 13161, 13162, 21596, 17497, (Leasing) 13273, 13271, 13266, 13120, 14160,13280, 13268,13274, 13276, 13269, 13279, 13277, 21585.
- Work directly with Funds Control on the General Ledger uploads for the Leasing System into the automated GL system.
- Reconcile and research out of balances in the Colson General Ledger and DDA account.
- Reconcile and research out of balances in the Small Business Administration (SBA) and DDA account.
- Reconcile and research the out of balance items in the Commercial Leasing General Ledger and DDA accounts.
- Reconcile and research the Commercial Loan wire DDA account.
- Reconcile and research SBA PPP general ledger 13161-70197 for any rejects and determine course of action to clear.
- Upload General ledger transactions directly into General Ledger software.
Analyze, Interpret, System Maintenance
- Analyze Interest Rate set up requests for proper format and completeness of information.
- Interpret Credit Agreement language regarding interest rates to set up new Prime rates and Compounded interest rates for all markets.
- Update and publish interest rates changes daily for Commercial Loan Servicing to be used by the Lending Groups, Loan Closers, Lending Assistants, and LTS team members.
- Verify Trade 360 rates and complete system maintenance
Liaison Support
- Acts as a liaison between Funds Control, Corporate Controllers, Global Funds Transfer, Global Capital Markets, LTS team members, Lending Assistants, Group Managers, Relationship Managers, Loan Officers, Loan Closers, Department Managers for all Markets.
- Collaborate to resolve discrepancies and system corrections and engage to obtain supporting documentation as required.
Payment and Fee Management
- Research and Analyze Leasing payments and fees received to determine application.
- Process payments related to SBA PPP Forgiveness and SBA Purchase Program and record any corresponding General Ledger entries.
- Analyze funding request and initiate wires for newly purchased SBA CRA Purchased loans and calculate purchase premiums.
- Create and input all general ledger entries associated with SBA Purchase program to book asset and apply payments received.
- Pay taxes on all Commercial Loan Leasing accounts.
Position Qualifications
- An Associates Degree OR 2 years of relevant general ledger/reconcilement experience OR High School Diploma/GED
- 3 years of commercial Loan accounting/processing or General ledger reconcilement
- 2 years of accounting related experience
- 2 years of Microsoft Excel and Word
- 2 years of customer service experience
About Comerica
We know our employees are critical to our overall success and we are dedicated to investing in their future. One of the ways we do this is to offer a comprehensive Total Rewards package designed to recognize and reward individual performance, as well support health, well-being, development and security for our colleagues and their family. Total Rewards consists of cash compensation, development and flexible benefit programs designed to meet individual needs today and in the future. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. We are proud to offer benefits such as health and welfare programs, strong retirement benefits, and generous paid time off programs. You and your eligible family members, including domestic partners and their children, can participate in medical, dental, and vision benefits, 401(k) and pension, income protection benefits such as life insurance, AD&D, and supplemental health programs to offset unexpected health care expenses. We also have a variety of time off programs for things like vacation, sick time, disability, and parental leave. Eligibility for some programs varies based on employment status and tenure.
Upon offer, Comerica conducts a comprehensive background and fingerprint check.
NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned into three major business segments; the Commercial Bank, the Retail Bank, and Wealth Management. Comerica's colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
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Comerica Bank
life insurance, parental leave, paid time off, sick time, 401(k)
Feb 28, 2025