Commercial Loan Specialist I, II or Senior (DOE)
About The Position
The Commercial Loan Specialist supports the commercial lending process by managing loan transactions from approval through closing, ensuring accuracy, compliance, and excellent member service. The role assists Business Relationship Managers with loan documentation, closing coordination, third-party reports, and funding activities while developing proficiency in commercial lending and credit union procedures under general supervision. The position also supports commercial loan servicing and business account operations, including quality control, ongoing documentation and reporting requirements, new business memberships and accounts, business wire transfers, and resolution of loan servicing issues. It maintains loan files in accordance with applicable policies and regulatory requirements, including BSA, AML, OFAC, CIP, and HMDA.
Requirements
- High school education or GED.
- Zero to three years of similar or related experience, including commercial and real estate document preparation.
- Knowledge and familiarity with commercial loan servicing, including risk rating, monitoring and reporting, financial statements, and collateral tracking.
- Strong communication skills and the ability to build rapport and credibility with members and credit union employees.
- Strong computer and keyboarding skills; functional proficiency with Word and Excel or spreadsheets.
- Strong organizational and time-management skills, with attention to detail, accuracy, and quality.
- Ability to perform the physical requirements of the role, including lifting up to 30 pounds, continuous sitting, occasional standing and walking, and computer use requiring finger dexterity and clear vision.
Nice To Haves
- Previous financial institution processing experience.
- LaserPro software experience.
Responsibilities
- Process routine commercial loan requests by preparing loan documentation, coordinating closings, obtaining required member and third-party documentation, and supporting loan funding.
- Maintain accurate loan files, order necessary reports and services, and coordinate with members, title companies, escrow officers, and Business Relationship Managers.
- Prepare and review commercial loan documentation for accuracy, compliance, and alignment with approved loan terms.
- Verify collateral perfection and required security interests, review executed documents before funding, and complete post-closing activities such as tickler maintenance and rate updates.
- Provide professional service to members and third-party vendors; respond to inquiries and communicate loan status and outstanding items.
- Develop positive working relationships with Business Relationship Managers, Credit Analysts, Credit Admin, and third-party vendors.
- Perform quality control reviews of commercial loan data and documentation for accuracy and compliance with policies and procedures.
- Manage loan servicing requirements, including tickler tracking, financial reporting requests, and exception management; work with Relationship Managers to obtain outstanding documentation and resolve follow-up items.
- Complete assigned requests and Jira tickets, open new business memberships and accounts, process business wire transfers, and resolve loan documentation and servicing issues.
- Stay current on applicable regulations, business loan policies, operational controls, business products, and services, and maintain compliant loan files.
- Adhere to BSA, AML, OFAC, CIP, HMDA, and other applicable regulatory requirements.
- Perform other duties as needed or assigned.
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
