COMMERCIAL LOAN ASSISTANT
Assists Loan Officers, department managers, lending team members, and legal counsel with the processing and documentation of new loan requests and modifications. Provides administrative support to Loan Officers and collaborates with them to provide outstanding customer experiences. Manages work flow to achieve a high degree of efficiency and productivity while ensuring compliance with all regulations, bank policies, procedures, and safety and soundness requirements.
- Discusses closing requirements with Loan Officers, Credit Administration, borrowers and attorneys as needed and ensures all closings occur within scheduled target dates.
- Communicates effectively and professionally with customers, attorneys, and co-workers.
- Accurately prepares loan documents using the bank’s approved software to ensure compliance with approved loan terms and conditions.
- Coordinates more complex loan closings with the loan officer, borrower and outside counsel to ensure proper documentation and adherence to approval terms while providing a high level of customer service.
- Verifies all pre-closing conditions have been satisfied and that required loan covenants are properly documented.
- Records deeds, UCC filings, automobile titles, etc. with appropriate authorities, as necessary.
- Builds and maintains files, folders, and system data according to the Association’s standards.
- Utilizing dual control methodology, performs a pre-closing quality review on completed closing documents prepared by others for accuracy.
- Sets up loans accurately on the core processing system and in the commercial management system.
- Orders necessary reports, documents and actions, such as flood certifications, title searches, UCC searches, etc. as appropriate.
- Ensures compliance with all Association policies and procedures including, but not limited to, BSA/AML, FCRA, Reg Z, etc.
- Processes initial closing disbursements according to Closing Statement instructions.
- Maintains detailed records and provides support for items impacting GL reconciliations.
- Reconciles application and origination fees (e.g., appraisal fee, environmental report fee) received from the borrower or paid by the bank so that the amount due to or from a borrower can be settled at closing.
- Enters commercial loan data into CRA and HMDA data collection records.
- Updates loan tracking systems (e.g., UCC-1 expirations, manual rate changes, troubled debt restructures) on an ongoing basis.
- Enters, monitors, and assists with resolution on all Doc Request items and documentation exceptions; follows up with customers, Loan Officers, and/or attorneys to resolve exceptions.
- Contacts Loan Officers, attorneys and customers to obtain necessary data to respond to reporting needs, as needed.
- Supports document imaging initiatives.
- Monitors Lines of Credit and assists with entering borrowing base certificate data upon receipt of information from Portfolio Managers.
- Acts as a point of contact for customer inquiries.
- Responds accurately to customer inquiries for information and effectively resolves problems, as needed.
- In conjunction with Loan Servicing, monitors all CRE loans for current/delinquent tax payments, contacting the customers and communicating with Loan Officers as necessary.
- Assists Loan Officers with monitoring delinquencies.
- Assists Loan Officers with the gathering of documentation necessary for an attorney to be authorized to perform closing activities on behalf of the Association.
- Maintains knowledge of legal requirements and compliance issues pertaining to assigned work.
- Attends workshops and seminars on issues pertinent to loan documentation and closings.
- Performs other administrative duties as needed or requested; assists the Loan Officers as time permits.
- Completes all mandatory compliance training, such as BSA, in a timely manner.
- Performs all other duties as may be assigned.
REQUIRED EDUCATION, EXPERIENCE, AND SKILLS
- Bachelor’s degree in business or a related field or a high school diploma or equivalent with two to four years of experience in a commercial loan processing environment.
- Strong customer service orientation.
- Solid understanding of the organization’s loan products and services.
- Working knowledge of loan documents and requirements.
- Working knowledge of all regulatory lending compliance regulations.
- Working knowledge of the Association’s policies and procedures.
- An understanding of underwriting guidelines.
- An understanding of basic accounting principles.
- Excellent follow-up and organizational skills.
- Proficient operation of the Bank’s core processing system (Insight), loan documentation software, and Microsoft Software such as Word, Excel, and Outlook; Commercial Loan Management System experience preferred.
- Ability to learn quickly with a strong attention to detail and problem-solving.
- Ability to perform under stress when confronted with critical time line constraints and large work volumes.
- Ability to communicate clearly, both orally and in writing.
*The above duties may not be all-inclusive. The incumbent may be asked or required to perform other work as time and abilities allow.
Windsor Federal Savings offers a competitive compensation and benefits package including a student loan repayment plan, tuition reimbursement, vacation, personal days, paid sick time, holidays, 401(k) plan and profit sharing, and an employee friendly work environment including “dress for your day” attire.
For consideration, qualified applicants may email a cover letter and a resume to email@example.com
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