Loan Operations Representative
About The Position
This position reports to VP/Loan Servicing. The primary function is to provide support to the Bank’s loan function by reviewing new/renewed loans, reviewing loan advances, payments and rate changes, and processing paid loans. The role involves performing basic loan servicing functions for various loan types, acting as a servicing agent for participated/syndicated loan transactions, and servicing troubled loans. Key duties include processing payments and advances, paying invoices and fees, processing paid loans, preparing payoff letters and release deeds, reviewing new and renewed loans on the Fiserv system, and maintaining original loan documents. The representative will also handle client inquiries, transfer money between accounts, prepare wire transfer requests, research and correct errors, audit data entry, scan loan documents, audit servicing activity, perform GL account reconciliation, monitor insurance coverage, and perform additional departmental duties such as ordering credit reports, assisting with board reports, updating procedures, inputting CRA/HMDA information, processing construction draws, and updating various reports.
Requirements
- Detail oriented
- Basic accounting knowledge
- Working knowledge of Bank regulations preferred
- High School diploma or GED
- 0 - 2 years banking experience
- Microsoft proficiency
Nice To Haves
- College degree preferred
- Fiserv application experience preferred
Responsibilities
- Perform basic loan servicing functions for a variety of loan types (Commercial Real Estate; Commercial and Industrial; Consumer)
- Apply payments and advances to loans
- Act as servicing agent for participated/syndicated loan transactions
- Perform servicing for troubled loans, i.e., non-accruals, OREO, and charge-offs
- Pay invoices
- Pay assessment fees for Residential Condominium Loans
- Pay real estate taxes
- Process paid loans
- Prepare payoff letters
- Prepare release deed if necessary and send for recording
- Review new and/or renewed loans on the Fiserv system against boarding data
- Responsible for maintaining original loan documents and files in the collateral vault
- Answer client inquiries regarding loan balance, transactions & payoffs
- Transfer money between accounts
- Prepare wire transfer requests
- Research and correct errors
- Audit data entry of new and renewed loans
- Perform maintenance as needed
- Scan key loan documents
- Audit all previous day’s servicing activity
- Correct errors as found
- Perform reconciliation process for GL accounts
- Monitor hazard and flood insurance
- Contact agents/borrowers to obtain current certificate of insurance
- Update weekly insurance tickler report
- Add lapsed insurance coverage to force placed insurance program
- Order credit reports, title work and/or flood searches
- Assist with Board reports
- Update Procedures
- Input CRA/HMDA information into the FFIEC CRA/HMDA data entry software
- Assist in the processing of construction draws
- Update collateral & insurance report
- Prepare Subordinations of lien
- Provide notary services
- Monthly insurance monitoring
- Monthly available commitment report monitoring
- Collateral maintenance for tax certificates secured loans
- Review daily reports
- Update loans secured by stock/bonds/investment accounts report
- Input Customer Due Diligence and Beneficial Ownership information into BAM+
- Other duties as assigned
Benefits
- medical/dental/vision/life insurance
- 401(k)
- paid time off (PTO)
- eligibility for an annual bonus
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
