Associate Loan Operations Specialist

About the role

The Associate Loan Operations Specialist at Live Oak Bank plays a critical role in ensuring the accuracy and integrity of the bank's core data. This position requires a deep understanding of Live Oak's loan products, policies, and procedures.

Responsibilities

• Embody Live Oak’s core values and develop an understanding of Live Oak's loan products and procedures across all divisions of the bank.
• Efficiently manage inquiries and requests related to the loan onboarding and servicing.
• Use sound judgment and innovation to uphold the integrity of the bank's financial data by accurately maintaining loan records in the core system.
• Collaborate with bank personnel to maximize client service and mitigate potential risk to the bank through creative problem solving.
• Take ownership of primary responsibilities and pursue them with enthusiasm.
• Oversee and coordinate the onboarding of all new loans and leases to the core system with promptness and accuracy.
• Review and approve the allocation of funds at the time of loan funding and facilitate appropriate general ledger balancing entries for all closing costs and fees.
• Manage inquiries brought forth by loan personnel, legal counsel, and customers regarding payments, disbursements, payoffs, modifications, loan documents, and reconciliations.
• Effectively analyze and interpret complex loan documents while adhering to the parameters of the core system and established banking procedures.
• Manage daily data syncs between loan core system and customer relationship management platforms.
• Manage the preparation and distribution of monthly loan and lease billing invoices.
• Analyze daily activity reports to identify and execute actionable changes in the core system.
• Update critical core data to align with approved loan modification documents.
• Collaborate with various other departments around the bank to complete reconciliations and troubleshoot discrepancies.
• Use sound judgement; when necessary, ask for help or guidance.
• Comply with Federal, State and SBA Regulations.
• Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC.

Requirements

• Bachelor's Degree or equivalent experience.
• Excellent analytical, organizational and time management skills.

Qualifications

• Preferred experience in bank operations, loan processing, and banking industry.

Skills

• Strong analytical and organizational skills.
• Attention to detail.
• Ability to work independently and as part of a team.
• Knowledge of banking regulations and compliance.

Benefits

For a detailed overview of our employee benefits, please visit: http://www.liveoakbank.com/careers/

Pay

The base pay range for this position is $19.77 - $32.12 per hour. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy.

Schedule

We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at HumanResources@liveoak.bank.

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