Loan Code Specialist

OakStar Bank•Springfield, MO

9d•Onsite

About The Position

The Loan Code Specialist is responsible for reviewing, maintaining, and updating loan classifications, call report codes, and collateral codes within the bank's core processing system to ensure the integrity of loan records throughout the loan lifecycle. This position reviews loan documentation and inputs, and also validates loan coding and system parameters, to ensure loans are boarded accurately and comply with bank policies, accounting standards, regulatory requirements, and investor guidelines, if applicable. The Loan Coding Specialist collaborates with Loan Operations, Lending, Credit Administration, Compliance, and Accounting to resolve discrepancies and maintain the accuracy of the bank's loan portfolio.

Requirements

At least three years of banking, loan operations, loan servicing, loan processing, or lending support experience.
Strong understanding of loan coding principles and regulatory requirements.
Familiarity with core banking systems and loan servicing platforms.
Knowledge of banking regulations affecting loan documentation, servicing, and reporting.
Strong analytical and problem-solving skills with the ability to identify discrepancies and determine appropriate resolutions.
Excellent attention to detail and commitment to producing highly accurate work.
Strong organizational and time management skills with the ability to prioritize multiple assignments while meeting deadlines.
Ability to interpret loan documentation, promissory notes, security agreements, mortgages, and other legal lending documents.
Effective verbal and written communication skills with the ability to collaborate across departments.
Proficiency in Microsoft Office applications, including Excel, Word, Teams, and Outlook.
Ability to maintain confidentiality while handling sensitive customer and financial information.
Ability to work overtime during peak periods or to meet deadlines.
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.
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.

Nice To Haves

Associate's or Bachelor's degree in business, finance, accounting, or a related field preferred.
Experience working with consumer, commercial, agricultural, and mortgage loan documentation preferred.

Responsibilities

Provide timely and accurate responses to lending teams regarding loan type classifications, call report codes, and primary collateral codes for system input.
Review all loan activity for coding accuracy, including newly boarded loans, loan modifications, change in terms, or renewals and extensions.
Verify loan codes against approved loan documents to ensure all system information is complete, accurate, and compliant with bank policies and procedures.
Validate loan product codes, purpose codes, collateral types, participation information, risk ratings, reporting fields, and regulatory classifications.
Perform quality control reviews to identify and correct coding discrepancies prior to loan funding or booking.
Review exception reports and system generated edits to identify and resolve loan coding errors.
Research discrepancies between loan documentation and system records, coordinating with lenders, loan assistants, processors, and loan operations staff to resolve issues.
Maintain accurate records and coding changes.
Ensure loan records comply with applicable federal and state regulations, internal policies, compliance, accounting requirements, and investor servicing guidelines when applicable.
Support internal and external audits, regulatory examinations, and quality assurance reviews by providing documentation and responding to inquiries.
Monitor assigned workflows to ensure loan codes are provided within established service level expectations, and ensure adherence to internal tracking and reporting standards.
Ensure the accuracy of loan types and coding assignments and the accurate application of internal specialization codes.
Ensure proper collateral coding is aligned with supporting documentation.
Maintain current knowledge of loan products, system functionality, regulatory requirements, and operational procedures affecting loan coding.
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.