Loan Operations Specialist
POSITION SUMMARY
Works with lenders to ensure loans are processed accurately and efficiently. Reviews commercial, consumer and mortgage loan packages to assure documentation is complete and accurate. Tracks loan documentation suspense items and exceptions and works to complete files. Verifies documentation for each loan is within the specifications of Bank, Federal and State guidelines. Provides external and internal customer service and support concerning loan processing and administration.
GENERAL QUALIFICATIONS
Knowledge:
Two-year degree in Business or Accounting required. Must be knowledgeable of Bank lending requirements, compliance procedures and lending policies. A familiarity with loan-related reports and terminology is strongly desired.
Experience:
A minimum of three years' experience in the loan operations function of a financial institution is necessary. Must be completely familiar with loan operations software systems and trouble-shooting techniques for loan documentation processes. Direct work with loan closings and loan documentation is essential.
Skills:
Proficient keyboard, accounting, balancing and PC skills are required. Must be detail-oriented and have decision-making and problem solving skills. Strong communication and customer service skills are essential. Must have ability to organize tasks and set priorities. Strong teamwork and leadership skills are essential.
ESSENTIAL FUNCTIONS
o Prepares and processes loan packages ensuring all required documentation has been compiled completely and accurately.
o Stays abreast of changes to documentation requirements and standard fees. Utilizes past experience to be aware of trends in loan documentation requirements.
o Interfaces with customers in person, by telephone or e-mail concerning loan questions and issues.
o Reviews loans processed for required documentation to ensure adherence to regulations and KS Bank policy in order to avoid FDIC penalty charges.
o Analyzes loan transaction histories, performs manual interest calculations and creates online transactions in order to solve problems.
o Reviews credit bureau reports and resolves discrepancies.
o Assists lenders and attorneys with questions or issues related to loan packages.
o Sets up and processes loan escrow accounts, insurance, and other documents relating to loans approved by the Bank.
o Assists with the preparation of necessary loan department reports including escrow, insurance, reconciliation of GL accounts and other reports as required for internal and external reporting purposes.
o Adheres specifically to Bank policies and procedures, Federal and State regulations and laws.
o Participates in required training and has the responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection and determent of money laundering or other unlawful activities.Estimated Salary: $20 to $28 per hour based on qualifications.
Works with lenders to ensure loans are processed accurately and efficiently. Reviews commercial, consumer and mortgage loan packages to assure documentation is complete and accurate. Tracks loan documentation suspense items and exceptions and works to complete files. Verifies documentation for each loan is within the specifications of Bank, Federal and State guidelines. Provides external and internal customer service and support concerning loan processing and administration.
GENERAL QUALIFICATIONS
Knowledge:
Two-year degree in Business or Accounting required. Must be knowledgeable of Bank lending requirements, compliance procedures and lending policies. A familiarity with loan-related reports and terminology is strongly desired.
Experience:
A minimum of three years' experience in the loan operations function of a financial institution is necessary. Must be completely familiar with loan operations software systems and trouble-shooting techniques for loan documentation processes. Direct work with loan closings and loan documentation is essential.
Skills:
Proficient keyboard, accounting, balancing and PC skills are required. Must be detail-oriented and have decision-making and problem solving skills. Strong communication and customer service skills are essential. Must have ability to organize tasks and set priorities. Strong teamwork and leadership skills are essential.
ESSENTIAL FUNCTIONS
o Prepares and processes loan packages ensuring all required documentation has been compiled completely and accurately.
o Stays abreast of changes to documentation requirements and standard fees. Utilizes past experience to be aware of trends in loan documentation requirements.
o Interfaces with customers in person, by telephone or e-mail concerning loan questions and issues.
o Reviews loans processed for required documentation to ensure adherence to regulations and KS Bank policy in order to avoid FDIC penalty charges.
o Analyzes loan transaction histories, performs manual interest calculations and creates online transactions in order to solve problems.
o Reviews credit bureau reports and resolves discrepancies.
o Assists lenders and attorneys with questions or issues related to loan packages.
o Sets up and processes loan escrow accounts, insurance, and other documents relating to loans approved by the Bank.
o Assists with the preparation of necessary loan department reports including escrow, insurance, reconciliation of GL accounts and other reports as required for internal and external reporting purposes.
o Adheres specifically to Bank policies and procedures, Federal and State regulations and laws.
o Participates in required training and has the responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection and determent of money laundering or other unlawful activities.Estimated Salary: $20 to $28 per hour based on qualifications.
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