Loan Operations Clerk

Locus•Richmond, VA

31d•$45,000 - $50,000•Hybrid

About The Position

About Locus: At Locus, we know communities thrive when they have equitable access to capital. We collaborate with stakeholders across the community development ecosystem to invest in communities with strong aspirations, while addressing challenges like a shortage of affordable housing, limited access to fresh food, a lack of quality jobs, and clean energy innovation. We believe a capital system that centers community input and impact is essential to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving places. Locus is the parent organization for a family of community development enterprises, which includes a nonprofit CDFI loan fund, a CDFI bank, a fund management practice, and a national guarantee program. With offices in Christiansburg and Richmond, Virginia, Locus offers innovative and flexible financing tools and strategic consulting services to individuals and organizations in underestimated and excluded communities, most of which are low-to-moderate income. Alongside our many partners, Locus has generated over $2 billion dollars in total impact. Locus is a nonprofit holding company regulated by the Federal Reserve. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org. Position Overview: The Operations Clerk is an entry-level position that supports the daily functions of the Loan Operations department and the administration of the Guarantee program. This role plays a key part in ensuring the accurate handling of loan documentation, transaction processing, and program reporting. Within Loan Operations, the clerk is responsible for managing the flow of documentation from loan closing to payoff. This includes document imaging, filing, research, and processing tasks such as paid-out loans, UCC continuations, ACH requests, and payoff requests. The position also involves maintaining exception tracking and supporting loan account maintenance. Within Impact Investment Services (ISS), the Operations Clerk assists with loan closings, data verification, and documentation tracking, reporting, billing, invoicing, and claims processing. This support helps ensure compliance and timely program execution.

Requirements

High School diploma or equivalent
Experience of 1-3 years, related experience and/or training is a plus
Accounting and/or banking, and knowledge of basic accounting principles, practices, and standards, is a plus, not a requirement
Excellent Word, Excel, and Windows file management skills are mandatory
Proficient in the use of web conferencing platforms such as Microsoft Teams or similar software
Demonstrated web research skills
Familiarity with Outlook or similar network-based email and calendar software
Must be able to work independently in a stable remote environment
Ability to communicate verbally across all levels of the organization in a clear, concise, and confident manner
Ability to write accurate, clear, and organized communications, incorporating a range of information and analysis. Ability to document workflow and procedures
Minimum 2 days in-person in the Richmond office.

Responsibilities

Performs research and responds to general loan account questions
Handles officer change updates
Add/update customer’s contact information (Maintains accuracy and completeness of customer files)
Set up ACH information for customer payments
Provide payoff quotes to internal customers
Provide customer billing statements
Manage document tracking exceptions
Index loan documentation to core Locus system
File all physical loan documents
Scan training documents and file as applicable
Retrieve and provide files for review by lenders and auditors.
Release collateral on loans such as UCCs, Titles and Deeds of Trust
Send paid loan documents to customers
Transfer paid loan files for review and document retention
Provide timely filing of UCC Continuations
Onboarding new and/or updating IIS clients and their assets into appropriate LOCUS systems.
Invoicing for Underwriting fees
Closings credit enhancement transactions for IIS team
Collect documents needed using Closing checklist
Draft legal agreement
Work with RM to complete closing
Invoices, Monthly/Quarterly/Annual billing for all Investors
Claims Processing
Prepare amendments/waivers and modifications
Send out reminders to credit Enhancement beneficiaries regarding the required reporting. Collect and save reporting in appropriate digital location. Track reporting compliance and provide updates to IIS teams
Work closely with the Data Analyst for data entry accuracy
Provide back-up coverage for other operations personnel
Assist external and internal customers with questions regarding loans as needed