Commercial Loan Administrator

bankESB • Millbury, MA

7d

About The Position

This role is responsible for processing daily overdrafts and returned deposited items for the Bank's Commercial customers, preparing commitment letters, coordinating commercial loan closings, and preparing new loan documentation. The Commercial Loan Administrator will also review and interpret commercial loan documents, provide ongoing support to foster customer relations, and resolve post-closing exceptions. Additionally, this position involves tracking loan collection expenses, filing UCCs, ensuring flood hazard determinations are made, obtaining Patriot Act identification, preparing Reg. B notifications, maintaining loan files, and obtaining updated insurance. The role requires performing research and analysis for monetary or documentation issues, processing servicing matters, adhering to timelines, and collaborating with other bank departments.

Requirements

• High School diploma or general education degree (GED) required
• Minimum of three to five years Commercial Loan Administration experience.
• Working knowledge of commercial lending activities, such as commercial & industrial lending, commercial and real estate lending, Construction loans, lending of condominium associations and small business administration programs.
• Excellent communications, written, verbal and interpersonal skills.
• Ability to pay close attention to detail, work independently and meet deadlines in a fast-paced environment.
• Strong organizational skills in working effectively with other divisions of the Bank.
• Ability to handle multiple priorities.
• Excellent customer relations, communications and interpersonal skills.
• Strong PC skills including proven ability to assimilate software applications including Word, Excel, in a windows environment as well as Adobe Professional, LaserPro, Loan Vantage, and Identifi.

Nice To Haves

• Strong knowledge of commercial loan documentation title policies, entity formation documents, and working regulatory knowledge such as privacy, safeguarding customer information, Regulation B, Equal Credit Opportunity Act, CRA, CD, HMDA, and flood regulations.

Responsibilities

• Respond to internal and external customer inquiries, resolve commercial customer problems and/or assist in resolving commercial inquiries by directing customers to appropriate departments.
• Process the daily overdrafts and return deposited items for the Bank’s Commercial customers while adhering to the prescribed policies and procedures.
• Prepare commitment letters in accordance with loan approval terms and conditions.
• Coordinate the Commercial Loan Closing by communicating with the Attorney and/or the Loan Officer.
• Prepare new loan documentation on loans that are not real estate secured and prepare Amendments to Notes and/ or Loan Documents as described in the appropriate loan approval.
• Review and interpret commercial loan documents to service commercial loans in senior and subordinate positions in accordance with agree upon terms.
• Provide on-going support to foster customer relations.
• Ensure on-going maintenance of loans in the system to meet customer’s and the bank’s needs.
• Resolve any post-closing exceptions noted during the quality control process.
• Track all loan collection expenses, vendor fees, good faith deposits and other professional fees.
• File and/or search UCC’s (Uniform Commercial Code) through the UCC direct website in order to perfect the Bank’s lien on Borrower’s assets pledged as collateral.
• Ensure that Standard Flood Hazard Determination Forms have been ordered and received on all Commercial Loans.
• Obtain the receipt of the Patriot Act Identification and verify customer information on all new and existing Commercial Loan customers in accordance with all procedures related to the Patriot Act.
• Prepare Reg. B notifications to business applicants.
• Maintain Commercial Loan files by scanning/importing required documents efficiently and accurately.
• Annually obtain updated insurance to support outstanding loans.
• Perform in-depth research and analysis leading to resolution of inquiries related to monetary or documentation issues.
• Research and process all servicing matters relating to commercial accounts.
• Adhere to timelines and deadlines established based on client needs and department workflow.
• Work with other bank departments as needed to facilitate responses to customer inquiries.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED
• Number of Employees: 11-50 employees