Loan Operations Summer Employee

Old Second National Bank
United States, Illinois, Aurora
37 South River Street (Show on map)
Feb 11, 2025
Who We Are At Old Second, you're first! For more than 150 years, Old Second has consistently put businesses and individuals throughout the Chicago area first, and we're only getting started. With great employees we've grown from a single location in the back of a general store to 50 locations and over $6 billion dollars in assets. At Old Second we embrace values that foster an environment of community and growth. Recently, we've been voted a Forbes Best-In-State Bank for Illinois by our customers. Be a part of something big as we continue our growth story together! What Makes You a Great Fit You are an undergraduate college-level student who is interested in gaining financial and operational experience in a Community Bank environment. You are willing to work onsite to learn from field experts and gain valuable exposure to bank operations and financial processes. What we Offer This is a paid internship. You will gain first-hand knowledge within your area of interest, which may include: Exposure to high-net-worth clients and prospects Development of communication and presentation skills within a professional work environment A thorough understanding of bank policies and external regulatory requirements. Participation in education events, networking and presentations. Compensation & Benefits Base pay: $18.50/hour Old Second is committed to fair and equitable pay practices. Pay is dependent upon the pay range and the incumbent's knowledge, skills and experience. Benefits: How We Support You - Old Second Minimum Qualifications Must have a high school diploma or equivalent and be in pursuit of an undergraduate college degree, as follows: Currently enrolled in college; or Enrolled in college for Fall 2025; or College graduate between May 2024 - June 2025 Must have reliable transportation and be able to work onsite. Onsite locations depend on the department. Common onsite locations include Downers Grove, Oakbrook, Aurora and Chicago-Wacker. Must be available to work 20-40 hours per week and be available to start late May/early June through the end of July/early August. Internship durations vary between 8 - 12 weeks. Competencies Proficient in using Window 2010 Office software with intermediate skills in Word, Excel and PowerPoint. High degree of accuracy and attention to detail. Ability to work in a fast-paced environment; prioritizing work and multi-tasking. Desire to work in a professional environment. Loan Operations - Summer Employment The Loan Operations department is responsible for the oversight of loan documentation, records, and updates of consumer and commercial loans within the Bank. The department is responsible for boarding each loan into the loan system, ensuring all data points are effectively captured, and reviewing information for accuracy while correcting any inconsistencies. Team members service each loan to maintain financial integrity and ensure all records are updated and meet bank guidelines and regulatory standards; manage collateral and establish controls to mitigate risk and apply consistent standards to all loans. The department manages the upkeep and release of records through the various stages of the loan from inception through maturity. Validate and update ticklers in core related to insurance exceptions. Process payments, maintenance, and payoff funds. Request documents loan officers, or third-party vendors for outstanding items. Insurance tracking/ contact insurance companies for updated insurance. Research tax status on collateral property. Send notification letters to customers. Other projects may be assigned. Thanks for considering Old Second!