Commercial Loan Quality Control Specialist

River Run Services • Newburyport, MA

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About The Position

River Run is a shared services organization that supports Newburyport Bank, Pentucket Bank, and Rollstone Bank & Trust. The Commercial Loan Quality Control Specialist ensures the accuracy and compliance of commercial loan documentation by reviewing legal and supporting documents prepared internally and by outside counsel. The role identifies errors, missing documents, and trends that may indicate training needs, and maintains current checklists aligned with loan parameters and regulatory requirements to support consistent loan file management.

The Specialist works with CLA staff, Loan Officers, and other stakeholders to resolve documentation exceptions, supports audits and compliance reviews, and helps identify control gaps and remediation opportunities. The role also stays current on bank products, procedures, policies, and applicable regulatory requirements, and ensures compliance with laws, regulations, bank policies, and the Bank Secrecy Act as applicable.

Requirements

• High school diploma.
• At least 5 years of experience in a professional office environment within a lending-related function, focused on closing or post-closing commercial loan files.
• Basic knowledge of word processing, spreadsheet, and other office applications.
• Strong customer service skills.
• Attention to detail.
• Ability to work successfully both independently and as a member of a team.

Nice To Haves

• Experience as a real estate paralegal.

Responsibilities

• Review legal and supporting documentation for new commercial loan originations to ensure compliance with local and federal regulations.
• Prepare biweekly reports of errors and missing documents, help ensure loan files are complete and accurate, and identify trends that may indicate training needs.
• Collaborate with CLA staff, Loan Officers, and other stakeholders to promptly correct documentation exceptions.
• Maintain current and accurate quality control checklists reflecting loan parameters and regulatory requirements.
• Obtain and document annual CIP attestations from Lead Banks for participated loans in accordance with regulatory requirements and internal compliance procedures.
• Identify trends, control gaps, training needs, and remediation opportunities to improve operational effectiveness and compliance.
• Support internal and external audits, examinations, and compliance reviews by providing requested loan documentation and records.
• Stay current on bank products, services, procedures, policies, and applicable regulatory and compliance requirements by attending team meetings and completing mandatory training.
• Ensure adherence to federal and state laws, regulations, and bank policies to prevent violations, minimize risks, and safeguard the Bank’s interests.
• Verify transactions and account balances for compliance with bank policies, state and federal regulations, and the Bank Secrecy Act, as applicable.

What This Job Offers

• Job Type: Full-time
• Education Level: High school or GED