Loan Administrator

2 weeks ago

London, Ontario, Canada VersaBank Full time

VersaBank is an inclusive, entrepreneurial, Schedule 1 Chartered Bank with over $5.5 billion in assets and growing. As Canada's most innovative bank, VersaBank operates as a branchless financial institution that obtains its deposits and provides most of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that allow them to excel in their core businesses.

VersaBank's Common Shares trade on the Toronto Stock Exchange ("TSX") and Nasdaq under the symbol VBNK. Our head office is in London, Ontario, with various offices located across Canada. For more information on VersaBank, please visit our website at

We are looking for a Loan Administrator to join the Finance & Accounting team. This is a full-time in office role located in London, Ontario.

As a Loan Administrator, you will support the administration of loan and funding operations within the Asset Management System (AMS). Your responsibilities will include ensuring the accurate processing of funding transactions, deposit reconciliations, and financial postings. While working closely with the Senior Loan Administrator, you will assist in daily operational activities and collaborate closely with team members to ensure the continuity of financial processes.

Primary Responsibilities include:

Loan Administration & Funding Operations

  • Process AMS funding disbursements, repayments, and related transactions.
  • Prepare and process non-AMS Treasury transfers, wires, and daily postings in Sage 300.
  • Review and reconcile credit limits, authorizations, and disbursement details.
  • Maintain and update AMS data, facility activations, draw requests, and fee applications.
  • Assist with start-of-month and month-end activities, ensuring accurate accounting entries and reconciliations.
  • Update monthly PAC transmissions and maintain loan and facility schedules.
  • Track third-party letter of credit (L/C) fees and ensure proper recording in AMS.
  • Prepare and send monthly invoices for AMS facilities and L/Cs.

Reconciliations & Financial Reporting

  • Perform monthly bank reconciliations and complete bank confirmation requests.
  • Monitor incoming deposits, wire transfers, and repayments, while ensuring accurate posting and reconciliation in AMS and Sage.
  • Assist in the reconciliation of intercompany and interbank transfers.
  • Maintain documentation for audit and compliance requirements.

Process Improvement & Compliance

  • Support ongoing enhancements to AMS and financial processes in coordination with IT and Finance teams.
  • Ensure compliance with internal accounting policies and external regulatory standards.
  • Participate in identifying and implementing operational improvements to streamline funding, reconciliation, and reporting activities.

What we look for:

  • Bachelor's degree or diploma in Accounting, Finance, or Business Administration preferred.
  • 3–5 years of experience in financial administration, loan operations, or banking.
  • Experience with AMS, Sage 300, and banking platforms is an asset.
  • Strong analytical and reconciliation skills with high attention to detail.
  • Proficient in Microsoft Excel and financial data management.
  • Excellent organizational, multitasking, and communication abilities.
  • Ability to work collaboratively and maintain accuracy under tight deadlines.

What we offer:

  • A positive team-based work atmosphere that promotes collaboration and career advancement.
  • Competitive compensation package including base salary, an incentive award and pension supplement program.
  • An outstanding benefit program.
  • Tuition refund program.
  • Fitness club membership.

Application Procedure:

If working for a 'non-traditional' bank with an entrepreneurial flair appeals to you, we encourage you to apply. We thank you for taking the time to apply. Please be advised that only those applicants selected for an interview will be contacted.

At VersaBank, we are committed to fostering a diverse, inclusive, and equitable workplace. We encourage applications from individuals of all backgrounds, including persons with disabilities, Indigenous persons, members of visible minorities, women, LGBTQ+ individuals, and other underrepresented groups. We believe that diverse perspectives strengthen our organization, and we strive to create an environment where everyone has an equal opportunity to succeed. We also encourage candidates with different abilities, relevant alternative expertise, or experience who can perform the essential and critical functions of the job, with or without support(s). If accommodations are required, we are dedicated to providing the necessary support to ensure full participation. VersaBank is an equal opportunity employer and complies with all applicable accessibility laws and regulations.

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