Senior Commercial Credit Loan Specialist

Ascend Bank•Wallingford, CT

19d

About The Position

The Senior Commercial Credit Loan Specialist is responsible for providing comprehensive administrative support to the Commercial Credit and Closing Department. This role involves a wide range of duties related to the processing, closing, post-closing, and ongoing maintenance of commercial loans, including more complex types such as SWAPS and Participations. A key aspect of this position is the training and mentoring of Commercial Loan Administrators. The specialist will interact frequently with various internal departments, including Loan Servicing, Accounting, and Credit, as well as external legal counsel.

Requirements

A concise understanding of commercial loan products and compliance requirements.
Knowledge of commercial loan documentation, commercial loan servicing, and/or related areas.
Attention to detail is a critical component of this position.
Computer proficiency in a Windows based environment and knowledge of MS Word, Excel, and Outlook.
Excellent verbal and written communication skills.
Five to eight years of similar or related experience, with a minimum of three years’ experience in the review of commercial loan documentation, commercial servicing and related areas.
Superior customer service skills.
A bachelor’s degree, or achievement of formal certifications recognized in the industry as equivalent to a bachelor’s degree.
Able to work independently, with minimal supervision.
Key competencies include research, analytical and critical thinking skills, planning and organizing, information monitoring, strong communication skills, stress tolerance, attention to detail, accuracy, and confidentiality.
Digital literacy, including the ability to use data, information, and communication technologies to find, evaluate, create, and communicate information, requiring both cognitive and technical skills.
Technical proficiency with all bank products.
Awareness and interest in new technology.
Skills in creation, innovation, and research.

Nice To Haves

Legal/Paralegal experience desired.

Responsibilities

Perform reviews of commercial loan closing documents, both pre- and post-closing, to ensure accuracy and completeness in accordance with loan approval terms, conditions, and requirements.
Review compliance data for all approved loans to ensure accuracy and completeness, including credit reports, flood determinations, EDR reports, appraisals, and UCC filings.
Complete assigned administrative duties related to due diligence items prior to loan approval, supporting commercial lenders and credit analysts.
Conduct quality control of loan approvals to ensure conditions and covenants outlined in credit memos are appropriately defined and documented in closing documents.
Assist with the collection and filing of annual financial statement requirements via emails generated by Sageworks to customers.
Perform monthly reconciliation and maintenance of the commercial suspense general ledger for reporting to the accounting department.
Monitor Adverse Action applications, including updating and recording pertinent information to tracking logs and preparing customer notifications.
Prepare accurate commitment letters for approved commercial loans, gathering all pre-closing conditions and other required checklist items (e.g., CRA, beneficial ownership forms, CIP, flood determination).
Review and approve attorney-prepared commitment letters for accuracy of terms, dates, etc.
Direct and coordinate the preparation of all commercial loan documents, including NCDC loans, recognizing appropriate documents for each loan type and obtaining any missing/incomplete documents prior to closing.
Prepare in-house loan closing documentation (typically for small loans), including legal and supplemental Bank documents, and calculate all fees due (e.g., interest, escrow payoffs) and final funding amount.
Prepare supplemental Bank documents for all attorney loan closings, including compliance documentation, closing instructions, and calculations of all fees due (e.g., interest, escrow, payoffs) and final funding amount.
Prepare, process, and monitor loan modification requests, including in-house modification documents, interaction with attorneys for attorney-prepared modifications, ensuring compliance, and reviewing documents for accuracy and completeness.
Upon execution of documents, ensure appropriate fees are collected and documents are complete and accurate, and prepare management reports as directed.
Fund all commercial loans, including OFAC checks of all parties, wire preparation, wire entry, and funding notification.
Perform post-closing of all commercial loan files, including review of executed documents and compliance requirements, to provide a complete and error-free loan package to Loan Servicing for booking.
Review and confirm adequate and appropriate Hazard, Flood, Builders Risk, and/or Liability Insurance is in force prior to closing.
Ensure all loan files are retained up to Bank standards for completeness and neatness in Sageworks and Synergy.
Process Express Loan applications.
Prepare HMDA/CRA data for transmission into NContracts.
Assist with preparation of Impaired Loan analysis (order appraisals, research insurance and taxes).
Assist with identifying “shelf” loans on an annual basis.
Assist with providing all necessary documentation for audits and exams.
Complete all required compliance training.
Perform other duties as required.