Loan Operations Specialist

Job Description

Job Description

Benefits:

• 401(k) matching
• Bonus based on performance
• Company parties
• Competitive salary
• Dental insurance
• Employee discounts
• Health insurance
• Opportunity for advancement
• Paid time off
• Parental leave
• Training & development
• Vision insurance
• Wellness resources

SUMMARY

The position is in charge of loan servicing after the transaction has closed. This includes communicating with Commercial Loan Officers and personnel at customer banks, routing loan-related documentation to lenders, and obtaining proper approval prior to updating ticklers, working daily tracking reports, performing routine and intermediate loan processing and administration duties and maintaining good customer relations. Maintain a positive attitude and demonstrate exceptional work ethic. The position requires expertise of all aspects of post-closing loan servicing, and at levels II and III, the incumbent is expected to train and support less experienced loan servicing experts and other staff members. Follows policies and procedures, completes administrative activities accurately and on time and upholds the Bank's core values.

Assures compliance with all Bank policies and procedures, as well as, all applicable state and federal banking regulations.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following:

1. Requests and processes tickler and exception items timely and frequently.
2. Checks prior day payments, advances, maintenance, and rate changes and presents findings to the Loan Operations Manager's attention.
3. Receives approval by Loan Closers prior to marking an exception as received.
3. Correctly indexes tickler and exception items.
4. Updates the required date in tracking system when updates are received on tickler items.
5. Verifies all insurance policies have appropriate deductibles and coverage amounts.
6. Sends force placed letters on expired insurance policies.
7. Requests a copy of force placed letters on expired insurance policies on purchased participations.
8. Provides effective customer service both internally and externally and assists in resolving problems within given authority.

May also be responsible for:
- processing direct and participated loan payments and advances, including the downstream portion.
- collecting funds owed on downstream loan advances.
- paying funds received owed to downstream banks.
- calculating loan pay off amounts for all types of loans.
- verifying the principal and interest balances on each loan when a payment received.
- processing incoming and outgoing wire transfers.
- logging payments and advances not yet processed on the loan clearing spreadsheet daily.
- answering the phone; responding to loan officer or customer inquiries relative to account balances, loan balances and payoff requests.
- providing effective customer service and assists in resolving problems within given authority.
- assisting in cross-training less experienced loan servicing personnel in all loan servicing functions.
- creating checklists and writing procedures for department.
- assisting with department projects.

ADDITIONAL DESIRED KNOWLEDGE, SKILLS AND EXPERIENCE

Microsoft Excel, Word and Outlook (Basic)
Bank loan systems
Bank deposit systems
Imaging systems
Accounting and General Ledger