Loan Quality Control Administrator I
About The Position
The Loan Quality Control Administrator I will perform independent loan quality control post-closing reviews to (1) ensure accuracy, completeness, and integrity of loan data entered into the Bank’s operating system; (2) to ensure that loan data is consistent with the approved loan documents, and compliant with applicable regulations and Bank policies; and (3) to identify and track remediation of defects or errors detected. Besides all new loans, the Loan Quality Control Administrator I will complete a quality control review of loan renewals, loan extensions, loan annual reviews and paid-off notes. Daily loan file maintenance activities will also be validated against properly authorized documentation.
Requirements
- High school diploma or equivalent
- Three to Five years of work experience with a background in lending, loan operational processes, compliance or audit. Including but not limited to three plus years of experience and demonstrated success in loan operations, quality assurance and lending compliance or related.
- Strong organizational skills and fastidious attention to loan details
- Regard for importance of accuracy in every transaction performed, detect errors, and follow through on cited corrections.
- Strong Computer Skills: Microsoft Office, Banking core and ancillary software, workflow management, and archiving systems.
- Analytical, problem solving, and loan operational process skills.
- Basic understanding of laws and regulations that impact bank lending functions.
- Strong written and verbal communication skills.
Nice To Haves
- Bachelor’s degree
- An understanding of loan documentation, internal controls, technical expertise and risk management.
Responsibilities
- Obtain and review daily reports assigned, including but not limited to File Maintenance, Non-Activated, New Notes and Paid Off Notes.
- For loan file maintenance activities, obtain authorization documents and validate legitimacy and accuracy of transactions.
- Perform additional quality control review of file maintenance activities related to approved loan extensions and annual reviews. Confirm that required approval documents have been obtained and are properly saved to the Bank’s digital records system. Verify that the loan file maintenance conducted in the Bank’s operating system agrees with approval documents: signoff on quality control checklist to evidence review.
- Ensure all file maintenance appearing on a non-activated loan report are completed timely and that the loan is subsequently funded and moved to new loan status.
- For loan renewals, obtain approvals and newly executed loan documents and test against the Bank’s operating systems. Complete the quality control checklist to evidence review.
- For paid off loans, complete quality control checklist and confirm the release of collateral, cancellation of insurance, and refund of any escrow balances due.
- Utilize various reporting tools and loan origination systems to complete assigned workflows in a manner that promotes a high level of customer service, efficiency, accuracy and timeliness.
- Update exception tracking for any items with defects or errors noted during the quality control process. Communicate findings to appropriate management for remediation.
- Validate defects noted and remediated back to either loan documents or loan record, as applicable.
- Perform job duties in a manner that ensures deliverables meet SLAs; ensuring all procedures related to quality control reviews are adhered to.
- Assist with new loan file reviews as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
Number of Employees
11-50 employees
