Senior Loan Administrator

Banc Of California • Santa Ana, CA

127d • $70,000 - $100,000

About The Position

The Senior Loan Administrator is responsible for the timely processing of loan transactions from application through funding and closing of the loan. Provides support to all loan parties and is responsible to perform all essential duties related to the collection and review of due diligence and closing and funding. Performs all duties in accordance with the Company's policies and procedures, all U.S. state and federal laws and regulations, wherein the Company operates.

Requirements

• Bachelor's degree preferred or at least a minimum of three (3) to five (5) years of commercial loan administration and financial services experience including loan documentation preparation, loan closing and funding.
• Proficient understanding of all documents required for all borrowing entities and ability to assess if the legal documents drawn cover all necessary terms and conditions appropriate for the approved credit product.
• Knowledgeable in all branch functions associated with origination, processing and closing.
• Assures compliance with all Bank policies and procedures, as well as, all applicable state and federal banking regulations.
• Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to Regulation Z, Regulation B, Fair Housing Act, Home Mortgage Disclosure Act, Real Estate Settlement Procedures Act, Fair Credit Reporting Act, Bank Secrecy Act in conjunction with the USA PATRIOT Act, Anti-Money Laundering and Customer Information Program, Right to Financial Privacy Act, and Community Reinvestment Act.
• Ability to exercise discretion and independent judgement that has moderate impact on the immediate work unit and cross functional departments.
• Ability to make a conclusive recommendation based on independent analysis.
• Proficient knowledge of title policies and related loan regulations such as RESPA, HMDA and other Bank lending policies.
• Intermediate knowledge of commercial insurance terminology, forms, and bank requirements.
• Proficient skills in computer terminal and personal computer operation; Microsoft Office applications including but not limited to: Word, Excel, PowerPoint and Outlook.
• Intermediate math skills; calculate interest and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
• Effective organizational and time management skills.
• Exceptional oral, written and interpersonal communication skills.
• Ability to make decisions that have moderate impact on the immediate work unit and cross functional departments.
• Ability to work with little to no supervision while performing duties.

Nice To Haves

• Familiar with IBS (or similar) loan system preferred.
• Current knowledge of Real Estate, Construction, Commercial & Industrial (C&I), Entertainment, Specialty Lending, Asset Based Lending, and Syndicated Lending loans.

Responsibilities

• Collaborate closely and effectively manage expectations with client, Relationship Managers, and others on the loan team to ensure timely closing of loans.
• Handle complex loans, including those involving outside legal documentation and correspondence, as well as transactions involving Syndications/Participations and Specialized Lending.
• Perform the pre-funding validation of the internal 'SOX control' related to loan origination funding.
• Conduct a thorough review of the loan file/loan package to ensure it includes all relevant documentation required for the transaction.
• Analyze transaction types and determine necessary due diligence items and legal documents required to ensure accurate closings and compliance with bank and regulatory requirements and procedures.
• Identify any open items timely and work with appropriate parties to collect the necessary items.
• Manage and update open items list as received and reviewed.
• Coordinate insurance needs with customer, insurance brokers, Relationship Manager to ensure proper insurance is received and collected in a timely manner.
• Order flood certification and complete requirements according to company and regulatory requirements including but not limited to sending and receiving the flood notice from the Borrower if the loan is in a flood zone.
• Complete the flood calculator to ensure appropriate flood insurance is in place.
• Collect and review evidence of insurance to confirm coverage is in compliance with bank and regulatory requirements.
• Perform final review of the flood calculator, flood determinations and flood insurance requirements for accuracy, ensuring accordance with NFIP guidelines and bank policy.
• Order preliminary/proforma title reports, exceptions, and plotted easements and survey if applicable to identify any potential issues.
• Discuss with the Title Officer and Underwriter as to the best course of action; Request revisions directly with the title company, if any.
• Order 3rd party collateral reports such as appraisal, environmental, transaction screen assessment reports as needed.
• Review for potential issues and order additional reports as dictated by findings/conclusions.
• Open escrow and title as needed, coordinate to schedule closings and ensure escrow settlement is accurate prior to funding and closing on the loan.
• Review and validate entity structure and organizational documents to verify management/control.
• Prepare lenders instruction letter when escrow is involved.
• Complete the loan closing and funding package, preparing the balancing sheet, wire(s) and final checklist to evidence the final pre-funding review requirements before funding and submitting the loan package for boarding.
• Assist in the perfection of collateral including but not limited to filing of UCC1 and ordering of Tax Service Contracts.
• Perform all post-closing follow up including receipt of title policy/endorsement, recorded DOT and any other collateral or trailing documentation.
• Ensure appropriate bank-controlled accounts are opened by the Business Unit and applicable holds are on the account(s).
• Respond to inquiries from customers, relationship managers and/or interdepartmental personnel concerning status of loan closing.
• Work closely with outside counsel to keep closing checklist up to date, participates on calls related to the loan closing and regular follow-up with client to make sure closing checklist items are received timely.
• Monitor loan pipeline and track progress by updating nCino Loan Admin Workflow report as needed.
• Track good faith deposits and/or rate lock expiration dates and have RM's request extensions as necessary.
• Request payoff demands from existing lender.
• Process withdrawn/declined transactions including preparation of balancing spreadsheet for refunds, prepare and send adverse action letter if applicable.
• Maintain a professional and courteous attitude and demonstrate a true concern for internal and external clients.
• Ensure all necessary final documents and due diligence are saved to the banks official document repository.
• Cross-train junior Loan Administrators.
• Provide backup support for the Loan Administration team as needed.
• Ability to work independently with minimal supervision.
• Maintain specialized knowledge of the loan boarding function, terminology, policies and procedures and may be required to perform the due diligence requirements for commercial loan purchases.
• Treat people with respect; keep commitments; inspire the trust of others; work ethically and with integrity; uphold organizational values; accept responsibility for own actions.
• Demonstrate knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
• Follow policies and procedures; complete tasks correctly and on time; support the company's goals and values.
• Perform the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions.
• Comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970.

Benefits

• Eligible to participate in the company's 401k plan which includes a company match and immediate vesting.
• Comprehensive insurance options including medical, dental, vision, AD&D, supplemental life, long-term disability, pre-tax Health Savings Account with employer contributions, and pre-tax Flexible Spending Account (FSA).
• Partners with providers that offer adoption, surrogacy, and fertility assistance as well as paid parental leave and family support solutions including care options for your family.
• Eligible team members receive paid vacation days, holidays, and volunteer time off.
• To support career growth of our team members, we offer tuition reimbursement, an annual mentorship program, leadership development resources, access to LinkedIn Learning, and more.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree