Commercial Loan Specialist I

Central Bank•Storm Lake, IA

10d

About The Position

The Commercial Loan Specialist works directly with Loan Officers to compile the information needed to underwrite, establish, and collateralize quality loans accurately and efficiently. The position serves as a liaison among Central Bank Loan Officers, Loan Operations, and customers regarding documentation, pending loans, advances, payments, and payoffs. It also provides backup support for preparing accurate, organized loan committee meeting minutes and works with the Credit Department to organize loan presentations for committee meetings. The role involves administering loan files and documentation, supporting loan officers with new loans, refinances, and modifications, managing loan closing schedules, maintaining loan data, and communicating with customers and other parties. It also includes preparing loan documents, checking loan requirements, and calculating closing costs and fees. The specialist supports bank initiatives and performs other related duties assigned by management.

Requirements

Associate degree or equivalent work experience.
Three or more years of experience in similar or related job duties.

Nice To Haves

Bachelor's degree preferred.

Responsibilities

Initialize customer files and compile documentation needed for loan underwriting and processing.
Request loan documentation through software or third-party vendors, including appraisals and title work, and arrange collateral releases while observing required notifications and timeframes.
Complete construction draws after collecting lien waivers and documenting inspections and appropriate approvals.
Review customer files to ensure required documentation has been obtained, including Customer Identification Program, OFAC, entity documentation, beneficial ownership, credit bureau, joint intent, disclosures, flood certifications, HMDA, security agreements, real estate mortgages, insurance, real estate taxes, and UCC filings.
Present completed Commercial Loan Checklists to Gatekeeper for underwriting and Credit approval.
Collaborate with Loan Officers on new loans, refinances, and modifications to determine loan structure and appropriate collateralization and lien perfection.
Notify Loan Officers of deficiencies.
Manage the closing calendar to schedule, coordinate, and complete loan closings efficiently.
Assist with loan denials, Commercial Loan Checklists, and tickler account management.
Compile data about upcoming maturities, past dues, and exceptions; obtain necessary documentation and consult Loan Officers when needed.
Verify that file documentation is obtained, entered into the computer system, properly signed, and maintained with appropriate renewal information and expiration dates.
Request and communicate with customers, accountants, and attorneys about questions concerning financials, business structure, and other essential documentation.
Respond to customers with loan approvals and denials, as assigned.
Address internal and external customer needs and priorities sensitively and promptly, establish effective working relationships, and follow up and follow through for customers and teammates.
Complete upfront quality-control analysis using a checklist to verify that loan requirements have been met.
Request loan closing documents after completion of the pre-close process and appropriate approval.
Calculate appropriate closing costs and fees.
Provide backup support for preparing accurate and organized loan committee meeting minutes and work with the Credit Department to organize loan presentations for committee meetings.
Support bank initiatives and special projects as assigned.
Perform other related duties and responsibilities as assigned by management.