Commercial Loan Administrator

About the role

Now Hiring: Commercial Loan Administrator

Essential Functions & Responsibilities

• Prepares complete loan information packages and coordinates loan closings between Loan Servicing, Loan Officers, Attorneys, third parties, and members.
• Ensures all loan closings, disbursement of funds, and loan boardings are completed timely and adhere to closing conditions.
• Serves as administrator for business loan origination and documentation software.
• Maintains pipeline activity of loans in progress, approved loans, and closed loans.
• Provides adverse action notifications in accordance with the Credit Union policies and procedures and complies with federal and state regulatory requirements.
• Provides administrative support to the Commercial Lending department.
• Prepares commitment letters and addendums, schedules appointments, contacts business members, drafts correspondence and reports within regulatory and Credit Union policies and procedures.
• Engages in the relationship-building process through educating and referring Credit Union products and services.
• Understands and maintains a broad level of small business and commercial product knowledge, keeping informed of loan policy, required documentation, structuring, and regulatory requirements.
• Directs members to the appropriate department or resource for further information and services as necessary.
• Responds to internal and external loan-related business member questions and requests.
• Researches and analyzes information to identify broader issues, training needs, and procedural changes.
• Takes initiative to implement necessary corrective measures.
• Initiates wire transfers for members and assists members with the implementation of electronic services.
• Conducts escrow analysis for property taxes and coordinates the creation of escrow accounts with Loan Servicing.
• Supports the Assistant Vice President – Commercial Lending in ensuring accurate reporting of regulatory information, including monthly and quarterly commercial loan reports in compliance with regulatory and organizational policies and procedures.
• Maintains accuracy in resolving various exceptions and activities to comply with CU policies.
• Collaborates with peers across the Credit Union and participates in department projects as assigned.
• Attends internal and external seminars relating to business lending and regulatory requirements.
• Aids in the development of overall departmental operating policies, procedures, and best practices.
• Performs other job-related duties as assigned.

Knowledge And Skills

• Experience: Three years of similar or related experience.
• Education: (1) A two-year college degree, or (2) completion of a specialized certification or licensing, or (3) completion of specialized training courses conducted by vendors, or (4) job-specific skills acquired through an apprenticeship program.
• Interpersonal Skills: Work involves much personal contact with others inside and/or outside the organization for the purpose of first-level conflict resolution, building relationships, and soliciting cooperation. Discussions involve a higher degree of confidentiality and discretion, requiring diplomacy and tact in communication.