Commercial Loan Assistant III

Make Your Move•Salem, MA

3d•$75,000 - $90,000•Onsite

About The Position

Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers. This position requires the ability to work in the Salem, MA offices. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about. Essential Duties and Responsibilities include the following, however other duties may be assigned based on business need: A key point of contact for commercial customers for service and support for lending and deposit related needs. Collaborate with Lender to obtain, track and prepare all required pre-closing documentation for new loans, modifications & extensions, and monitor post- closing document exceptions pursuant to policy. Complete tasks in a manner to ensure compliance with key regulations ( i.e., CIP, BSA, Flood, Reg B) and bank policies and procedures. Acts as primary service contact for assigned portfolio’s commercial lending and deposit needs, as well as basic cash management servicing for some of the Bank’s largest, most complex and most profitable clients. Supports lenders with largest and most sophisticated client bases Provides superior client service as related to business loan and deposit services, taking ownership of client needs, problems, and requests, following through to ensure timely and accurate resolution. Performs account maintenance and research as needed. Monitors daily NSF funds reports, obtains necessary approvals and communicates to customers as appropriate Works with customers and lenders to obtain appropriate documentation to open and maintain required deposit account relationships, to include (but not limited to) applicable information related to CIP, corporate structure, resolutions, signers, beneficial interests, etc. Identifies, monitors and tracks missing documentation. Follows up with appropriate individuals to ensure documents are received as required. Performs preliminary loan closing requirements such as flood certifications, credit reports, residential appraisals, environmental reports, UCC searches or other reports as needed. Works with attorneys, insurance companies or other agencies as appropriate. Supports the commercial loan officers in the loan documentation process, ensuring that necessary documents have been collected throughout the pre-closing process. Prepares all loan set up forms in coordination with the Loan Operations staff. Ensures the effective coordination of the commercial loan closing process with Loan Operations, verifying accuracy of notes with facility report and commitment letter. Performs initial review of signed loan documents and any necessary additional information required by Loan Services for boarding and submit completed package for final review and boarding. In the absence of an attorney, prepares all relevant loan documentation necessary to close a new commercial loan or modification/ amendment. Acts as the primary contact person between the lender and loan services and is relied upon to answer any questions which may arise concerning loan documentation, collateral and payment structure. Creates, maintains and updates loan documentation. Responsible to create and maintain accurate loan files that can be relied upon to provide evidence to any audit, legal or regulatory request. Verifies that all third-party invoices have been obtained and that fees and charges are correct. Coordinates all loan advances/disbursements; ensures all required documentation has been received and all transactions coordinated effectively with the Loan Operations staff. Demonstrates, develops, and shares knowledge and understanding of business deposit products and other applicable banking services to provide accurate information to prospects and customers and better identify and respond to opportunities to cross sell. Mentors junior members of the team and acts as training resource. Acts in a supervisory capacity and may be called upon to exercise discretion and make decisions in the absence of the manager. Meets with clients in person or at community/business development events as requested. Prepares and organizes required reports, correspondence, memos and other necessary documentation within the timeframe required. Projects and maintains a professional image in the market place. Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position. Completes special projects as directed, and assumes additional responsibilities as requested. Regular in-office attendance is an essential element of this position. Managerial/Leadership Responsibilities: Mentors, trains and supervises department staff. May be called upon to exercise discretion and make decisions related to clients and staff.

Requirements

Minimum of high school diploma or GED, Bachelor’s degree preferred.
Demonstrated capability and familiarity with Microsoft is required.
Minimum of seven years banking experience preferred.
Working knowledge of commercial lending and banking practices and products.
Strong understanding and experience with commercial loan documentation, effective communication and service skills and demonstrate a high sense of urgency.
Must be technically proficient with Microsoft Office tools and have experience with loan origination systems (LOS) and document preparation system a plus.

Nice To Haves

Prior customer service experience and/or work in a legal setting is a strong plus.

Responsibilities

A key point of contact for commercial customers for service and support for lending and deposit related needs.
Collaborate with Lender to obtain, track and prepare all required pre-closing documentation for new loans, modifications & extensions, and monitor post- closing document exceptions pursuant to policy.
Complete tasks in a manner to ensure compliance with key regulations ( i.e., CIP, BSA, Flood, Reg B) and bank policies and procedures.
Acts as primary service contact for assigned portfolio’s commercial lending and deposit needs, as well as basic cash management servicing for some of the Bank’s largest, most complex and most profitable clients.
Supports lenders with largest and most sophisticated client bases Provides superior client service as related to business loan and deposit services, taking ownership of client needs, problems, and requests, following through to ensure timely and accurate resolution.
Performs account maintenance and research as needed.
Monitors daily NSF funds reports, obtains necessary approvals and communicates to customers as appropriate
Works with customers and lenders to obtain appropriate documentation to open and maintain required deposit account relationships, to include (but not limited to) applicable information related to CIP, corporate structure, resolutions, signers, beneficial interests, etc.
Identifies, monitors and tracks missing documentation.
Follows up with appropriate individuals to ensure documents are received as required.
Performs preliminary loan closing requirements such as flood certifications, credit reports, residential appraisals, environmental reports, UCC searches or other reports as needed.
Works with attorneys, insurance companies or other agencies as appropriate.
Supports the commercial loan officers in the loan documentation process, ensuring that necessary documents have been collected throughout the pre-closing process.
Prepares all loan set up forms in coordination with the Loan Operations staff.
Ensures the effective coordination of the commercial loan closing process with Loan Operations, verifying accuracy of notes with facility report and commitment letter.
Performs initial review of signed loan documents and any necessary additional information required by Loan Services for boarding and submit completed package for final review and boarding.
In the absence of an attorney, prepares all relevant loan documentation necessary to close a new commercial loan or modification/ amendment.
Acts as the primary contact person between the lender and loan services and is relied upon to answer any questions which may arise concerning loan documentation, collateral and payment structure.
Creates, maintains and updates loan documentation.
Responsible to create and maintain accurate loan files that can be relied upon to provide evidence to any audit, legal or regulatory request.
Verifies that all third-party invoices have been obtained and that fees and charges are correct.
Coordinates all loan advances/disbursements; ensures all required documentation has been received and all transactions coordinated effectively with the Loan Operations staff.
Demonstrates, develops, and shares knowledge and understanding of business deposit products and other applicable banking services to provide accurate information to prospects and customers and better identify and respond to opportunities to cross sell.
Mentors junior members of the team and acts as training resource.
Acts in a supervisory capacity and may be called upon to exercise discretion and make decisions in the absence of the manager.
Meets with clients in person or at community/business development events as requested.
Prepares and organizes required reports, correspondence, memos and other necessary documentation within the timeframe required.
Projects and maintains a professional image in the market place.
Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.
Completes special projects as directed, and assumes additional responsibilities as requested.
Regular in-office attendance is an essential element of this position.
Mentors, trains and supervises department staff.
May be called upon to exercise discretion and make decisions related to clients and staff.