Loan Administration Officer & Supervisor

About the Role

Documentation, Closing & Funding Department is responsible for preparing the Promissory Note, Business Loan Agreement, and other loan documentation in LaserPro or reviewing attorney-drawn loan documents, drafting Lender’s Instructions, and performing necessary pre-closing validation for closing and funding. This role oversees 3-5 direct reports.

Responsibilities

• Review and document all standard and complex commercial loans, such as Cross-Collateralized, Asset-Based, Construction, and International Trade Finance.
• Review complex attorney-prepared loan documents prior to signing in accordance with Credit Approval. Consult with Cathay legal counsel and outside attorneys for any changes or additions to loan documents.
• Validate the receipt of loan and borrower supporting documentation and verify compliance with loan committee approval conditions, Bank’s policies, procedures, and Federal, State, and other regulatory requirements.
• Create LaserPro documentation based on loan approval conditions and in compliance with loan committee approval conditions, Bank’s policies, procedures, and regulatory requirements.
• Create escrow closing instructions, pre-closing conditions, and any other conditions required for Lender/Borrower information.
• Receive signed loan documents and perform closing and funding activities, such as wire requests, account funding, remitting funds to pay off other lenders, ordering tax contracts, UCC filing, and setting up and maintaining tickler and monitoring databases (e.g., Stucky and Trade Innovation).
• Review and approve escrow and recording instructions prepared by junior-level processors, as necessary.
• Examine loan packages processed by less experienced staff to verify accuracy or conformity with loan requirements and approve closing (e.g., Funding, Wire, UCC filing/verification, Title policy review).
• Serve as database administrator for LaserPro, responsible for updates and maintenance of the LaserPro library setting, including maintaining and testing the LaserPro disaster recovery application and testing database prior to implementing additions or changes to production.
• Present agreements on specific proposals through discussion or communication with others of differing viewpoints (e.g., Lending Units, Loan Servicing, and legal counsel).
• Instruct less experienced staff on work details, assign tasks, observe and evaluate performance, and work with team members to improve performance.
• Coach and develop staff to meet their position responsibilities. Address performance issues as identified and required. Evaluate, interview, and hire staff as needed.
• Provide necessary direction and support to staff, and promote training, career development, and motivation. Hold team members accountable for their daily work.
• Communicate and oversee processing turnaround times to ensure fulfillment of service level agreements. Cross-train less experienced team members.
• Perform other duties as deemed necessary by the Manager.

Requirements

• 6+ years of banking experience with a minimum of 2+ years at a senior level.
• Knowledge and understanding of commercial loans and international lines of credit.
• Minimum of 3 years of supervisory experience.

Qualifications

Education: College graduate with a major in accounting or business preferred.

Skills/Ability: Detail-oriented and accurate; ability to make sound recommendations to improve workflow; excellent communication skills; PC proficiency; thorough knowledge and understanding of commercial loans and international lines of credit.

Pay

AVP: $82,000 – $90,000 / year

Benefits

Cathay Bank offers its full-time employees a competitive benefits package, including:

• Medical, dental, and vision insurance.
• Life insurance and long-term disability insurance.
• Flexible Spending Accounts (FSAs) and Health Savings Account (HSA) with company contributions.
• Voluntary coverages.
• 401(k) retirement plan.

Each employee is required to complete all required training, including Compliance and Bank Secrecy Act/Anti-Money Laundering training suitable to their position within the Bank.