SBA Participation Specialist
About The Position
The SBA Participation Specialist performs daily loan servicing activities for SBA 7a and 504, SBA 1502 Reporting and Participated loans including customer service support, processing transactions including payments, advances, and payoffs. Inputs loan data for SBA/Participation loans and maintains system records, loan files and documents. Essential Functions Loan Servicing : 50% Review credit presentations and fully executed loan documents for accuracy and compliance with lending policy for SBA and Participation loans prior to booking. Review Participation Agreements and accurately book new/renewed Participations to core system. Perform loan maintenance to IBS core system, and payment processing for SBA and Participations loans. Prepares and reviews Participation Certificates. Research, test, and implement SBA loan processes and procedures. Communicate with vendor on SBA payoff quotes regarding payment processing, participation processing and demands. Monitor SBA payments received, past due SBA loans and communicate with business partners and vendor(s) as needed/required. Serve a primary preparer, reviewer, and submitter of monthly SBA 1502 Report via SBA CAFS system. Compile and distribute Investor Remittance Reports Review and process all incoming wire transfers relating to SBA, Participations, Construction and Special Asset Department loans. Post all payments, transmittals, payoffs, and all other monetary transactions for SBA and Participations loans. Review Variable Plan Rate/Payment Change report and process any necessary changes. Prepare and remit outgoing wire transfers for SBA and Participation loans. Researches and responds to routine customer inquiries over the phone or in writing in a positive, professional, and responsive manner. Initiates contact with internal business partners, or third-party vendors as necessary. Quality Control : 40% Respond to and investigate general ledger outages. Ensure loan advances are properly authorized and posted. Review and reconcile all participation clearing general ledger accounts. Ensure Purchased and Participation Portfolio is in balance. Ensure loan advances are properly authorized and posted. Non-Essential Functions: 10% Perform special projects, research and other duties as assigned.
Requirements
- Intermediate knowledge of loan servicing practices, methods, and procedures for accurate processing
- Strong knowledge of SBA lending, procedures, regulations and servicing requirements, including SBA SOP 50 10 and other relevant SOP’s
- Strong knowledge of SBA 7a, 504, and other special loan servicing requirements
- Intermediate general ledger reconciliation skills
- Experience with applicable software including: Abrigo, IBS Insight, and Image Centre
- Experience with Microsoft Office Suite (Word, Outlook, Excel, PowerPoint)
- Ability to stand, bend, stoop, sit, walk, twist and turn.
- Ability to lift up to 15 pounds occasionally.
- A combination of education and experience equivalent to a high school diploma; and knowledge typically gained through a minimum of two years loan servicing, loan documentation or banking industry experience.
Responsibilities
- Review credit presentations and fully executed loan documents for accuracy and compliance with lending policy for SBA and Participation loans prior to booking.
- Review Participation Agreements and accurately book new/renewed Participations to core system.
- Perform loan maintenance to IBS core system, and payment processing for SBA and Participations loans.
- Prepares and reviews Participation Certificates.
- Research, test, and implement SBA loan processes and procedures.
- Communicate with vendor on SBA payoff quotes regarding payment processing, participation processing and demands.
- Monitor SBA payments received, past due SBA loans and communicate with business partners and vendor(s) as needed/required.
- Serve a primary preparer, reviewer, and submitter of monthly SBA 1502 Report via SBA CAFS system.
- Compile and distribute Investor Remittance Reports
- Review and process all incoming wire transfers relating to SBA, Participations, Construction and Special Asset Department loans.
- Post all payments, transmittals, payoffs, and all other monetary transactions for SBA and Participations loans.
- Review Variable Plan Rate/Payment Change report and process any necessary changes.
- Prepare and remit outgoing wire transfers for SBA and Participation loans.
- Researches and responds to routine customer inquiries over the phone or in writing in a positive, professional, and responsive manner.
- Initiates contact with internal business partners, or third-party vendors as necessary.
- Respond to and investigate general ledger outages.
- Ensure loan advances are properly authorized and posted.
- Review and reconcile all participation clearing general ledger accounts.
- Ensure Purchased and Participation Portfolio is in balance.
- Ensure loan advances are properly authorized and posted.
- Perform special projects, research and other duties as assigned.
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
Education Level
High school or GED
