AVP, Senior Loan Administrator

Banc of California • Santa Ana, CA

10d • $74,000 - $100,000

About The Position

BANC OF CALIFORNIA AND YOUR CAREER Banc of California, Inc. (NYSE: BANC) is a bank holding company headquartered in Los Angeles with one wholly-owned banking subsidiary, Banc of California (the “bank”). Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services, with full-service branches throughout California and Denver, Colorado, as well as full-stack payment processing solutions through BancEdge. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. At Banc of California, our success is driven by our people, and we take pride in fostering an environment where everyone can reach their full potential. We embrace a culture of empowerment, progressive thinking, and entrepreneurial spirit, ensuring our team members have an opportunity to make an impact and play an important role in the future of Banc of California. Our core values – Entrepreneurialism, Operational Excellence, and Superior Analytics – empower us in creating a dynamic and inclusive workplace. We are committed to supporting your growth and well-being with comprehensive benefits, career development programs, a variety of employee resource groups, and more. TOGETHER WE WIN® THE OPPORTUNITY The AVP, Senior Loan Administrator is responsible for independent decision-making, the review and analysis of loan transactions, and the timely processing of loan transactions from application through funding and closing of the loan. In addition, this function provides support to all loan parties and is responsible to perform all essential duties related to the collection and review of due diligence and closing and funding. Performs all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations, wherein the company operates.

Requirements

• Knowledgeable in all branch functions associated with origination, processing and closing.
• Assures compliance with all Bank policies and procedures, as well as, all applicable state and federal banking regulations.
• Ability to exercise discretion and independent judgement that has moderate impact on the immediate work unit and cross functional departments.
• Ability to make a conclusive recommendation based on independent analysis.
• Proficient knowledge of title policies and related loan regulations such as RESPA, HMDA and other Bank lending policies.
• Intermediate knowledge of commercial insurance terminology, forms, and bank requirements.
• Proficient skills in computer terminal and personal computer operation; Microsoft Office applications including but not limited to: Word, Excel, PowerPoint and Outlook.
• Intermediate math skills; calculate interest and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
• Effective organizational and time management skills.
• Exceptional oral, written and interpersonal communication skills.
• Ability to make decisions that have moderate impact on the immediate work unit and cross functional departments.
• Ability to work with little to no supervision while performing duties.
• Required: Proficient understanding of all documents required for all borrowing entities and ability to assess if the legal documents drawn cover all necessary terms and conditions appropriate for the approved credit product.
• Proficient in nCino and Salesforce.
• Current knowledge of Real Estate, Construction, Commercial & Industrial (C&I), Entertainment, Specialty Lending, Asset Based Lending, and Syndicated Lending loans.
• Minimum of six(6) years of commercial loan administration and financial services experience including: loan documentation preparation, loan closing and funding.

Nice To Haves

• Familiar with IBS (or similar) loan system preferred
• Bachelor’s Degree and/or relevant work experience or training

Responsibilities

• Conduct thorough review of the loan file/loan package to ensure it includes all relevant documentation required for the transaction.
• Independently analyze transaction types and determine necessary due diligence items and legal documents required to ensure accurate closings and compliance with bank and regulatory requirements and procedures.
• Audit loan files prepared for funding/boarding for completeness to determine that all bank requirements and guidelines have been met and that appropriate documentation were provided.
• Analyze prepared Balancing Sheet when assistance is needed to coordinate estimated funding amount with Escrow including prepaid interest for escrow transactions, request funding and boarding after satisfactory funding and boarding file reviews.
• AVP, Senior Loan Administrator collaborates closely and effectively manages expectations with client, Relationship Managers, and others on the loan team to ensure timely closing of loans
• Handle complex loans, including those involving outside legal documentation and correspondence, as well as, transactions involving Syndications/Participations and Specialized Lending.
• Perform the pre-funding validation of the internal “SOX control” related to loan origination funding.
• Solely responsible for identifying any open items timely and work with appropriate parties to collect the necessary items
• Manage and update open items list as received and reviewed.
• Confirms and coordinates insurance needs with customer, insurance brokers, Relationship Manager to ensure proper insurance is received and collected in a timely manner.
• Order flood certification and complete requirements according to company and regulatory requirements including but not limited to sending and receiving the flood notice from the Borrower if the loan is in a flood zone.
• Completing the flood calculator to ensure appropriate flood insurance is in place.
• Possesses expertise in reviewing evidence of insurance to confirm coverage is in compliance with bank and regulatory requirements.
• May Perform final review of the flood calculator, flood determinations and flood insurance requirements for accuracy, ensuring accordance with NFIP guidelines and bank policy.
• Order preliminary/proforma title reports, exceptions, and plotted easements and survey if applicable to identify any potential issues, discuss with the Title Officer and Underwriter as to the best course of action; Request revisions directly with the title company, if any.
• Order 3rd party collateral reports such as appraisal, environmental, transaction screen assessment reports as needed.
• Review for potential issues and order additional reports as dictated by findings/conclusions.
• Open escrow and title as needed, coordinate to schedule closings and ensure escrow settlement is accurate prior to funding and closing on the loan.
• Independently review and validate entity structure and organizational documents to verify management/control. In addition to receipt of all required entity documents, AVP, Senior Loan Administrator is responsible for obtaining additional documentation to support the review of entity documents such as the Certificate of Good Standing, Statement of Information, trust certification for applicable parties.
• Prepare lenders instruction letter without oversight when escrow is involved.
• Independently complete the loan closing and funding package, preparing the balancing sheet, wire(s) and final checklist to evidence the final pre-funding review requirements before funding and submitting the loan package for boarding.
• Assist in the perfection of collateral including but not limited to filing of UCC1 and ordering of Tax Service Contracts.
• Perform all post-closing follow up including receipt of title policy/endorsement, recorded DOT and any other collateral or trailing documentation without oversight.
• Ensure appropriate bank-controlled accounts are opened by the Business Unit and applicable holds are on the account(s).
• Respond to inquiries from customers, relationship managers and/or interdepartmental personnel concerning status of loan closing.
• Works closely with outside counsel to keep closing checklist up to date, participates on calls related to the loan closing and regular follow-up with client to make sure closing checklist items are received timely.
• Monitor loan pipeline and track progress by updating nCino Loan Admin Workflow report as needed.
• Track good faith deposits and/or rate lock expiration dates and have RM’s request extensions as necessary.
• Request payoff demands from existing lender.
• Process withdrawn/declined transactions including preparation of balancing spreadsheet for refunds, prepare and send adverse action letter if applicable.
• Maintains a professional and courteous attitude and demonstrate a true concern for internal and external clients.
• Ensure all necessary final documents and due diligence are saved to the banks official document repository.
• Cross-train junior Loan Administrators.
• Provide backup support for the Loan Administration team as needed.
• Ability to work independently with minimal supervision.
• Possess specialized knowledge of the loan boarding function, terminology, policies and procedures and may be required to perform the due diligence requirements for commercial loan purchases.
• Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
• Treat people with respect; keep commitments; inspire the trust of others; work ethically and with integrity; uphold organizational values; accept responsibility for own actions.
• Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; promotes working environment free of harassment of any type.
• Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
• Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
• Performs other duties and projects as assigned

Benefits

• Financial Security: You will be eligible to participate in the company’s 401k plan which includes a company match and immediate vesting.
• Health & Well-Being: We offer comprehensive insurance options including medical, dental, vision, AD&D, supplemental life, long- term disability, pre-tax Health Savings Account with employer contributions, and pre-tax Flexible Spending Account (FSA).
• Building & Supporting Your Family: Banc of California partners with providers that offer adoption, surrogacy, and fertility assistance as well as paid parental leave and family support solutions including care options for your family.
• Paid Time Away: Eligible team members receive paid vacation days, holidays, and volunteer time off.
• Career Growth Opportunities: To support career growth of our team members, we offer tuition reimbursement, an annual mentorship program, leadership development resources, access to LinkedIn Learning, and more.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level