Commercial Loan Administrator

Jeanne D Arc Credit Union • Lowell, MA

12h

About The Position

As a Commercial Loan Administrator , you will work under the leadership of the AVP-Commercial Lending to process business loans timely and accurately and maintains all commercial loan files. Completes specialized tasks, including billing, line of credit advances, and payoffs for commercial loans. Provides operational and administrative support to the Commercial Lending department to ensure a smooth workflow and dissemination of information between various departments. Adheres to Credit Union policies and procedures to ensure ethical and compliant business practices.

Requirements

• Experience: Three years of similar or related experience.
• Education: (1) A two-year college degree, or (2) completion of a specialized certification or licensing, or (3) completion of specialized training courses conducted by vendors, or (4) job-specific skills acquired through an apprenticeship program.
• Interpersonal Skills: Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.

Responsibilities

• Prepares complete loan information packages and coordinates loan closings between Loan Servicing, Loan Officers, Attorneys, third parties, and members. Ensures all loan closings, disbursement of funds, and loan boardings are completed timely and adhere to closing conditions. Resolves any outstanding post-closing issues promptly.
• Serves as administrator for business loan origination and documentation software. Maintains pipeline activity of loans in progress, approved loans, and closed loans. Provides adverse action notifications in accordance with the Credit Union policies and procedures and complies with federal and state regulatory requirements.
• Provides administrative support to the Commercial Lending department. Prepares commitment letters and addendums, schedules appointments, contacts business members, drafts correspondence and reports within regulatory and Credit Union policies and procedures.
• Actively engages in the relationship-building process through educating and referring Credit Union products and services. Understands and maintains a broad level of small business and commercial product knowledge, keeping informed of loan policy, required documentation, structuring, and regulatory requirements. Directs members to the appropriate department or resource for further information and services as necessary.
• Responds to internal and external loan-related business member questions and requests. Researches and analyzes information to identify broader issues, training needs, and procedural changes. Takes initiative to implement necessary corrective measures. Initiates wire transfers for members and assists members with the implementation of electronic services. Conducts escrow analysis for property taxes and coordinates the creation of escrow accounts with Loan Servicing.
• Supports the Assistant Vice President – Commercial Lending in ensuring accurate reporting of regulatory information, including monthly and quarterly commercial loan reports in compliance with regulatory and organizational policies and procedures. Monitor and assist in the resolution of various exceptions and activities in order to comply with CU policies.
• Coordinates commercial construction loans and lines of credit advances and obtains appropriate approvals. Ensures availability and formula requirements. Maintains accurate records.
• Collaborates with peers across the Credit Union and participates in department projects as assigned. Attends internal and external seminars relating to business lending and regulatory requirements. Assists in the development of overall departmental operating policies, procedures, and best practices.
• Performs other job-related duties as assigned.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Associate degree
• Number of Employees: 11-50 employees