Sr. Commercial Loan Administrator

Newburyport Five Cents Savings Bank•Newburyport, MA

6d•$27 - $37

About The Position

The Senior Commercial Loan Administrator performs a variety of administrative, customer service, and loan servicing functions. Provides exceptional customer service to Commercial Loan Officers, borrowers, and vendors while working in compliance with Bank policies and procedures. The SR. CLA maintains an in-depth knowledge of Commercial Loan procedures, policy, compliance, and legal requirements.

Requirements

High school diploma or equivalent.
Minimum of 5 years in a professional office environment, in a Commercial Loan Administration role or equivalent (paralegal)
Excellent knowledge of office software including word processing, spreadsheets, and electronic mail.
Excellent knowledge of general banking and lending concepts and principles.
Demonstrated attention to detail.
Demonstrated decision-making skills.
Excellent ability to work successfully with deadlines and time constraints.
Excellent ability to learn basics of the Bank’s products and services including loan products.
Self-motivated.

Nice To Haves

Experience with processing/closing multiple loan product types (including C&I, Commercial Real Estate (CRE), and SBA) preferred

Responsibilities

Coordinates with lenders, credit analysts, portfolio managers, attorneys and staff, and commercial loan servicing, all aspects of loan closing, ensuring all loans are closed in a timely manner based upon the approved parameters.
Prepares attorney engagement letters in accordance with the banks approved attorney list.
Serves as a resource for Commercial Servicing Representatives for Commercial Loan processes, regulatory, legal and compliance knowledge as needed.
Mentors Commercial Loan Administrators.
Maintains at least one department report.
Reviews commitment letters in a coordinated effort with Commercial Lenders for grammar and to ensure terms and conditions match approval prior to being sent to the customer.
Performs all pre-closing due diligence, including but not limited to ordering flood certificates and flood insurance, ordering Secretary of State documents, adding GEO codes, performing Unform Commercial Code (UCC) searches, calculating tax escrow, clearing approval conditions, and collecting and reviewing all regulatory documents, insurance, and organization documents.
Prepares closing documentation including notes, mortgages, loan agreements, and any other bank documents necessary for closing using loan origination and core systems.
Reviews attorney prepared loan documents for accuracy for final approval/signoff by Loan Officer.
Procures non-real estate collateral such as UCC filings and vehicle titles.
Processes Small Business Administration (SBA) applications within E-Tran and produces the accompanying SBA loan documentation.
Communicates with Attorney/Paralegal for all closing requirements.
Prepares modification documentation and collects any required updated due diligence.
Reviews and compares approval document and commitment letter to loan documents whether in house or attorney prepared and reviews Housing and Urban Development (HUD) settlement statement.
Receives closing document packages and prepares legal file to be sent to commercial servicing department for boarding, scanning, and quality control.
Collaborates with Loan Officer and Portfolio Manager to collect post-closing follow up on missing documents.
Collaborates with the Loan Officer and Portfolio Manager to problem solve any issues within the Commercial Lending Department with the guidance and assistance of senior Commercial Lending staff.
Prepares and maintains records for commercial construction loans based upon approval process.
Collaborates with Commercial Lenders to prepare initial construction project set-ups involving third-party construction monitoring.
Performs general administrative and clerical support tasks including, but not limited to, filing, photocopying, scanning, and assembling legal files.
Collaborates with Loan Officer and Portfolio Manager in the maintenance of credit files.
Obtains loan documents and supporting documents as requested by auditors and regulators.
Functions as one of the Bank Notaries.
Performs non-financial annual portfolio to review To ensure there are no adverse changes in the relationship.
Develops relationships with customers and customer support staff to better serve customer needs.
Responds to customer inquiries or inquiries from other areas of the bank relating to questions, concerns, or problems, ensuring the highest degree of customer service and problem resolution.
Performs a variety of customer service and loan servicing functions.
Supports up to three Commercial Lenders or more depending on loan volume and complexity of portfolio. These assigned Lenders have more complex loans that rely on proven skill and knowledge.
Actively stays current on all Bank products, services, procedures, policies, and applicable regulatory and compliance requirements by regularly attending team meetings, completing mandatory training on schedule, and applying knowledge to ensure accuracy and compliance in daily operations.
Share feedback and suggested edits when reviewing procedures to help streamline processes and correct inaccuracies.
Ensures adherence to federal and state laws, regulations, and bank policies by preventing violations, minimizing risks, and safeguarding the Bank’s interests.
Verifies transactions and account balances, ensuring compliance with bank policies and state and federal regulations and the Bank Secrecy Act (BSA), as applicable to the role.