Loan Operations Specialist

About the role

As a Loan Operations Specialist at Live Oak Bank, your role is crucial in safeguarding the accuracy and integrity of our core data through your advanced knowledge of Live Oak loan products, policies, and procedures while maintaining a meticulous attention to detail. Your work impacts the bank's ability to serve its customers efficiently and effectively.

Responsibilities

• Demonstrate a deep 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
• Direct all aspects of the loan and lease payoff process including the preparation of payoff statements and allocation of funds received
• 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
• Able to work independently while also being a team player
• Collaborate effectively with team members by assisting new team members with the above processes
• Provide recommendations on how to improve processes and drive efficiencies
• Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC

Qualifications

• Bachelor's Degree or equivalent experience
• Bank operations experience
• Banking Industry experience
• Loan processing experience
• Excellent analytical, organizational and time management skills

Skills

• Advanced knowledge of Live Oak loan products, policies, and procedures
• Sound judgment and innovation
• Attention to detail
• Effective communication and collaboration
• Ability to work independently and as part of a team
• Strong analytical and organizational skills

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 $27.18 - $44.48 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.

EEO is the Law

The base pay range for this position is $27.18 - $44.48 per hour. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate’s salary is determined by several factors including travel, relevant work experience or skills and expertise. Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.