Loan Operations Manager

Live Oak Banking•Wilmington, NC

About The Position

The Loan Operations Manager is responsible for leading a team within the Operations department. In this role, you will play a critical part in maintaining the accuracy and integrity of core loan data and operational processes, ensuring high standards are consistently met. Your strong and effective leadership, combined with in-depth knowledge of Live Oak Bank’s loan products and procedures, will drive operational excellence, promote compliance and support scalable growth. This position requires exceptional attention to detail, a proactive problem-solving mindset and the ability to maintain efficiency in a fast-paced environment.

Requirements

Bachelor's Degree or equivalent experience
5+ years of experience in Loan Operations or a related field
Experience in SBA and Commercial Lending loan products, money movement and accounting processes
Strong knowledge and experience in Fiserv core system, Workday reporting and loan origination platforms
Demonstrated ability to communicate and collaborate effectively across bank wide departments and management teams
In-depth knowledge of banking policies and procedures
Ability to juggle multiple responsibilities in a fast-paced setting while meeting strict month and quarter end deadlines

Nice To Haves

Proficiency in Excel functions and report development
Excellent attention to detail and organizational skills
Proven track record of effectively handling urgent tasks while balancing multiple priorities
Strong organizational, time management, interpersonal, decision-making and communication skills

Responsibilities

Mentor and coach team members to foster professional development and build a high-performing team
Provide supervision of departmental SOX control activities and internal processes to ensure regulatory compliance and maintain data integrity
Ensure timely, accurate and complete loan onboarding to the Fiserv core system for all bank wide loan products
Resolve complex inquiries from loan personnel, legal counsel and customers concerning payments, disbursements, payoffs, modifications, loan documents and reconciliations
Oversee internal and external audits related to Loan Operations by ensuring timely responses, accurate documentation and remediation on findings
Manage access control and system ownership for departmental applications, ensuring proper user permissions, adherence to security policies and alignment with organizational standards
Manage the assignment and execution of loan modifications, ensuring all updates are accurately processed and required reviews are properly tracked and documented
Provide approval in outgoing wire and ACH disbursements and related transactions
Oversee the completion and accuracy of general ledger account reconciliations related to loan operations
Supervise the accuracy of deferred fees and costs in the core system and manage the daily reconciliation and review of related transactions
Work closely with Finance and Credit teams to validate loan data, address reporting variances and implement updated processes to comply with changing regulatory standards
Handle escalated issues from internal and external stakeholders, offering guidance and support to Loan Operations Specialists
Maintain and demonstrate proficiency in loan origination platforms, multiple core systems, accounting ledgers and money movement applications
Foster effective cross departmental communication to streamline internal workflows and support seamless service delivery
Make sound decisions to protect the interest of Live Oak Bank while ensuring an excellent customer and employee experience
Provide continuous training and mentorship to team members through regular guidance, performance feedback and development opportunities to foster professional growth and enhance team effectiveness
Exercise sound, independent judgment in decision-making and problem-solving, demonstrating the ability to work autonomously and take ownership in outcomes
Apply deep expertise in bank processes, loan products and systems to support operational success and process improvements
Manage and support technology initiatives and system enhancements related to loan operations and process efficiency
Plan and execute comprehensive reviews of departmental processes, procedures and data accuracy to identify risks
Develop and maintain scalable, efficient operational processes that support business growth, compliance and new initiatives
Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC