Loan Administration Associate

OakStar Bank•Springfield, MO

3d•Onsite

About The Position

The Loan Administration Associate provides support to the loan department by assisting with the maintenance and servicing of loans. This role ensures the smooth and efficient operation of the loan administration function by performing a variety of administrative duties, such as maintaining accurate records and ensuring compliance with regulatory requirements. The Loan Administration Associate will work closely with loan officers, processors, and other internal teams to ensure timely and accurate loan processing and servicing.

Requirements

Associate’s degree or Bachelor's Degree in Business, Finance, or a related field preferred.
1-3 years of experience in loan administration, banking, or a related field.
Familiarity with loan processing software and loan documentation.
Knowledge of regulatory requirements and compliance standards in the banking industry.
Strong attention to detail and accuracy in data entry and documentation.
Excellent organizational and time management skills, with the ability to handle multiple tasks and meet deadlines.
Strong communication skills, both written and verbal, with the ability to interact with internal teams and customers effectively.
Proficiency in Microsoft Office Suite (Word, Excel, Outlook, Teams).

Nice To Haves

Experience with loan administration or servicing systems.
Familiarity with federal and state lending regulations (e.g., RESPA, TILA, ECOA).
Ability to maintain confidentiality and handle sensitive customer information.
Ability to work overtime during peak periods or to meet deadlines.

Responsibilities

Review loan documentation for completeness, accuracy, and compliance with bank policies and regulatory requirements.
Enter loan information into the bank’s loan management system, ensuring data accuracy and completeness.
Update loan files with payments and other necessary information to ensure accurate record-keeping.
Answer phone calls, emails, and other communications from internal departments related to loan servicing, and provide information on any necessary documentation related to the loans.
Onboard new loans, renewed loans, and change in terms to the core processing system.
Onboard participated loans and Small Business Administration (SBA) sold loans.
Perform daily balancing of the loan related general ledger accounts.
Perform daily balancing of loan participation payments.
Complete daily and monthly SBA 1502 reports.
Process paid loan files.
Complete all tasks and duties accurately, efficiently, and by the established deadlines.
Ensure compliance with all bank policies and procedures, as well as all applicable state and federal banking regulations.
Treat people with respect, keep commitments, inspire the trust of others, work ethically and with integrity, uphold the bank’s values, and accept responsibility for one’s own actions.
Demonstrate knowledge of and adherence to EEO policy, show respect and sensitivity for cultural differences, educate others on the value of diversity, promote a working environment free of harassment of any type, and value a diverse workforce.
Follow policies and procedures, complete tasks accurately and on time, support the bank’s goals and values, and benefit the bank through outside activities.
Perform the position safely, without endangering the health or safety of yourself or others, and report potentially unsafe conditions to management. Comply with occupational safety and health standards and all rules, regulations, and orders issued pursuant to the OSHA Act of 1970 that are applicable to one’s position at the bank.
Possess and maintain a current driver's license and a vehicle with appropriate insurance coverage. Both are required to drive while performing assigned duties and responsibilities.
Possess and maintain adequate skills in computer operation, including email, word processing, spreadsheet, and specialty software programs.
Possess and maintain adequate typing skills to meet the needs of the position.
Possess and maintain adequate math skills to meet the needs of the position. This may include the ability to count currency and coin, calculate interest, balance accounts, add, subtract, multiply, and locate routine mathematical errors.
Practice effective and efficient organizational and time management skills.
Be able to work with general supervision while performing duties.
Use effective oral, written, and interpersonal communication skills. This includes the ability to apply common sense when carrying out instructions, interpreting documents, understanding procedures, writing reports and correspondence, and speaking clearly to customers and employees.
Be able to deal with routine problems involving multiple facets and variables in standardized situations.