Commercial Loan Assistant

About the role

Deerwood Bank is hiring a full‑time Commercial Loan Assistant to work in its Mendota Heights, MN location (on‑site, not hybrid or work‑from‑home). The role supports commercial lenders and lending specialists with pre‑close and post‑close tasks, file preparation, ongoing servicing, and loan closing coordination.

Responsibilities

• Fund loans, run transactions and pay invoices related to loan closings.
• Track collateral insurance and ticklers.
• Assist in pre‑close underwriting tasks such as ordering flood searches, title work, lien searches and credit reports.
• Review with lenders and credit analyst the annual reviews and enter work requests for evaluations, financials, etc.
• Perform post‑close tasks including lien perfection through mortgage, UCC and grant filings, insurance verification and scanning documents.
• Assemble closing documents into the digital file system (ECM) and ensure borrowing documents (Articles, Resolutions, etc.) are saved in SharePoint.
• Maintain loan files accurately and timely in the bank operating system (Phoenix/ECM) to preserve data integrity.
• Prepare loan files and set up appropriate ticklers to track required information (insurance, financial statements, etc.).
• Prepare loan files for audit selections.
• Administer draw requests, collateral tracking, line advances, or wires specific to file record‑keeping.
• Process paid loan files and release collateral as authorized.
• Assist other locations with scanning & indexing into the digital filing system.
• Research and confirm paid property tax ticklers annually.
• Handle commercial department branch mail.
• Perform other duties as assigned.

Knowledge, Skills and Abilities

• Preferred minimum of 2 years of experience in commercial loan origination or servicing.
• Strong written and oral customer relations skills.
• Strong organizational skills, responsibility and attention to detail.
• Ability to effectively operate all office equipment required (personal computer, fax, scanner/copier, printer, phone system, etc.).
• Working knowledge of MS Word, Excel, Access, PowerPoint, Outlook, SharePoint.
• Ability to work closely with team members in a collaborative and supporting manner.

Pay

Starting pay range: $20.00‑25.00 per hour.

Schedule

Standard work hours: Monday‑Friday, 8:00 am – 5:00 pm.

Benefits

• Medical insurance, including virtual telemedicine and mental health counseling.
• Health Savings Account.
• Flexible Spending Account (health, limited purpose health, and dependent care).
• Dental insurance.
• Vision insurance.
• Life insurance (basic and voluntary).
• Short‑term disability insurance.
• Long‑term disability insurance.
• Adoption Assistance Program.
• Employee Assistance Program.
• Paid Time Off (PTO).
• Paid Volunteer Time Off.
• Paid holidays.
• 401(k) with company match (eligible on the first of the month following 2 months of employment).
• Financial wellness education.
• Free or reduced fees for banking products and services.
• Employee Referral Bonus.