Commercial Loan Specialist I

Central Bank•Storm Lake, IA

About The Position

The Commercial Loan Specialist works directly with Loan Officers to accurately and efficiently compile the information needed to underwrite, establish, and collateralize quality loans for Central Bank. The role serves as a liaison among Loan Officers, Loan Operations, and customers regarding documentation, pending loans, advances, payments, and payoffs. It also provides backup support for preparing organized and accurate loan committee minutes and works with the Credit Department to prepare loan presentations for committee meetings.

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 required for loan underwriting and processing.
Request loan documentation through software or third-party vendors, including appraisals and title work, and coordinate collateral releases and any required notifications or timeframes.
Complete construction draws after collecting lien waivers and documenting inspections and appropriate approvals.
Review customer files for required documentation, 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 appropriate loan structure and collateralization and to perfect the bank's lien.
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 on upcoming maturities, past-due accounts, and exceptions; obtain required documentation and consult Loan Officers as needed.
Verify that file documentation is obtained, stored in the computer system, properly signed, and has appropriate renewal information and expiration dates.
Communicate with customers, accountants, and attorneys about questions concerning financials, business structure, and other required documentation.
Respond to customers with loan approvals and denials as assigned.
Address internal and external customer needs sensitively and promptly, build effective working relationships, and consistently follow up with customers and teammates.
Complete upfront quality-control analysis using a checklist to verify loan requirements have been met.
Request loan closing documents after the pre-close process is complete and appropriate approval is obtained.
Calculate appropriate closing costs and fees.
Support bank initiatives and special projects as assigned and perform other related duties and responsibilities assigned by management.