Accounting

The Accounting department maintains, compiles, and monitors the financial statements for Old Second National Bank, Old Second Financial, Inc. and Old Second Capital Trust. The Accounting department consolidates the financials for these entities into Old Second Bancorp.

The Accounting department is responsible for the daily purchase/sale of federal funds. This function helps to ensure adequate bank account balances we hold with the Federal Reserve in Chicago. This also helps to monitor the daily transactions such as wires and currency orders initiated or received by each of the banks.

Audit

The Audit department works directly with Bank branches and departments to ensure compliance with external government regulations as well as internal department specific policies and procedures. Audit helps track compliance performance for everything from Commercial loans to Retail transactions.

Commercial Banking

Old Second’s Commercial Banking department is separated into several areas including, Commercial Lending, Cash Management, Business Development, and Commercial Loan Administration.

Commercial loan officers manage commercial relationships that are loan-driven and are given the responsibility of growing those portfolios. Cash Management handles commercial relationships that are deposit or cash-driven.   This includes corporate cash accounts, public funds accounts, repurchase agreements, VISA/MasterCard merchant accounts, and technical services such as lock boxes and sweeps.

Business Development focuses on outside sales. Their role is to meet potential new commercial clients and to help manage that relationship with the appropriate lenders or cash managers. Loan Administration provides centralized document preparation, administrative support, and pre and post-closing assistance to all of Old Second.

Commercial Credit

The Commercial Credit department supports the commercial loan and loan review areas of the bank. The main function is to work with loan officers to prepare loan presentations for the approval of commercial loans. This is done though the analysis of company financial statements, personal financial statements, and tax returns. The analysts review the collateral position, the debt service ability and the overall acceptability of the loan requests. The department also assists in loan and documentation review. This is a post funding review of loans to ensure the accuracy of loan documentation and that all policies were followed in the approval and booking of the loans.

Diversity

The diversity department supports the Bank’s goal of a diverse workforce and inclusive workplace. The department ensures key organizational systems are leveraged to support diversity/inclusion, and enhance organizational performance. The department partners with OSB Affiliates, Subsidiaries, and other business units to identify products and services for underserved and emerging markets.

The synergy of diversity and inclusion encourages collaboration, supports problem solving, promotes creativity, flexibility, and responsiveness to change within the bank.

Human Resources

The Human Resources department supports the bank in a variety of ways.   From compensation, benefits, and career development, to recruiting, employee relations, and performance management, Human Resources helps support the organization by supporting our most valuable resource, our employees. Human Resources’ mission is to be a proactive, strategic business partner for the organization, to attract and retain high quality employees, and to serve as a “conscience” between management and employees.

Information Services

The Information Services department has responsibilities surrounding the Bancorp’s entire system requirements for all local/wide area networking which includes all voice/data telecommunications services, workstations, printers, file servers, etc. The department oversees and manages all application and system products implementation and vendor support which incorporates all security administration functions. IS supports both the Bancorp’s external Internet website and its Intranet website encompassing all website related services. The department's data center operational staff handles the core banking daily processing requirements including printing/mailing of customers’ statements, etc.   Information Services is also responsible for purchasing, launching, and servicing all e-products that support everyday bank business to employees and customers alike. From setting up individual computers and telephone lines to troubleshooting and servicing Bancorp-wide software, the IS department is actively involved in nearly every aspect of system automation at Old Second.

Investment Services

Investment Services is made up of several departments. The Investment Center is made up of licensed financial professionals who can offer a full variety of products and services that include buying and selling securities through our broker, LPL. The Trust department is divided into the two areas that make up the Employee Benefits and the Customer Trust areas.   The Employee Benefits area works with Businesses to develop and maintain retirement programs. The Customer Trust area works with individuals and groups to manage a portfolio to meet specific investment goals. Also included in this area is Old Second Financial, Incorporated. This group sells a variety of insurance and annuity products.

Marketing

The Marketing department promotes the bank in a variety of mediums including print, radio, television, and presentations. Marketing also supplies its internal customers (bank employees) with the means to promote their individual Branches and departments through sales tools and a variety of promotional Old Second logo items. Tools that supplement the sales force include brochures, visual displays, graphics, mailings, and any other means by which the bank and its products and services are made known.

Residential Lending

The Residential Lending department provides customers with an exceptional level of products and services for the mortgage industry. Residential Lending is headquartered in the Fox Valley area and houses Loan Officers as well as our Loan Underwriting and Processing staff. Loan Officers are also placed at Old Second facilities in the western Chicago suburbs.

Operations

The Operations department supports all aspects of the bank “behind the scenes.” They are responsible for receiving and processing a substantial portion of the data that filters through the bank on a daily basis. They accurately sort and encode thousands of checks, send and receive information about debits and credits to thousands of retail accounts, and process payments for business accounts everyday.

The Operations department is also responsible for answering phones and routing calls to the appropriate parties throughout the Bancorp. Our courier system also falls in the Operations area, helping our bank send and receive correspondence internally and externally. Other components also include the Fraud and Compliance areas and the ATM/Debit Card areas.   And, of course, our Maintenance team works to keep our banks and branches up and running.

Retail Banking

Retail Banking consists of several jobs that work simultaneously together to provide exceptional service to our customers. Retail banking includes tellers, personal bankers, financial services associates, consumer lenders and loan officers. This department is responsible for selling the products of the bank and recruiting new customers. Customer retention through quality customer service is also critical for this department.

Training and Development

Training and Development helps to ensure that our employees are some of the best trained in the industry. The department’s mission is to develop training programs that support OSB in meeting their goals by providing tools, resources, and monitoring the quality of all training within the organization. The Training and Development team adds value through improved performance by increasing employee’s skills and knowledge.

Trust Department

Old Second National Bank, through its Trust Department, offers complete trust services including executor or administration of estates, guardian, trustee of living and testamentary trusts, investment advisory agent and custodian for Individual Retirement Accounts. In estate planning, they work closely with the attorney, accountant, life underwriter and consultants of the customer’s choice. Trusts are the means for assuring that the trustee’s property will be handled, and ultimately passed on according to the will of the trustee. A trust is a transfer of the legal title of property to a trustee, while the benefits belong to the beneficiaries. The trustee has the duty of managing the property in the best interests of the beneficiaries.