Senior Loan Administrator

About the role

The Senior Loan Administrator is responsible for independent decision-making, the review and analysis of loan transactions, and the timely processing of loan transactions from application through funding and closing of the loan.

Responsibilities

• Conduct thorough review of the loan file/loan package to ensure it includes all relevant documentation required for the transaction.
• Independently analyze transaction types and determine necessary due diligence items and legal documents required to ensure accurate closings and compliance with bank and regulatory requirements and procedures.
• Collaborate closely and effectively manage expectations with client, Relationship Managers, and others on the loan team to ensure timely closing of loans.
• Handle complex loans, including those involving outside legal documentation and correspondence, as well as, transactions involving Syndications/Participations and Specialized Lending.
• Perform the pre-funding validation of the internal “SOX control” related to loan origination funding.
• Solely responsible for identifying any open items timely and work with appropriate parties to collect the necessary items.
• Manage and update open items list as received and reviewed.
• Confirm and coordinate insurance needs with customer, insurance brokers, Relationship Manager to ensure proper insurance is received and collected in a timely manner.
• Order flood certification and complete requirements according to company and regulatory requirements including but not limited to sending and receiving the flood notice from the Borrower if the loan is in a flood zone.
• Completing the flood calculator to ensure appropriate flood insurance is in place. Possesses expertise in reviewing evidence of insurance to confirm coverage is in compliance with bank and regulatory requirements.
• May Perform final review of the flood calculator, flood determinations and flood insurance requirements for accuracy, ensuring accordance with NFIP guidelines and bank policy.
• Order preliminary/proforma title reports, exceptions, and plotted easements and survey if applicable to identify any potential issues, discuss with the Title Officer and Underwriter as to the best course of action; Request revisions directly with the title company, if any.
• Order 3rd party collateral reports such as appraisal, environmental, transaction screen assessment reports as needed.
• Review for potential issues and order additional reports as dictated by findings/conclusions.
• Open escrow and title as needed, coordinate to schedule closings and ensure escrow settlement is accurate prior to funding and closing on the loan.
• Independently review and validate entity structure and organizational documents to verify management/control.
• Prepare lenders instruction letter without oversight when escrow is involved.
• Independently complete the loan closing and funding package, preparing the balancing sheet, wire(s) and final checklist to evidence the final pre-funding review requirements before funding and submitting the loan package for boarding.
• Perform all post-closing follow up including receipt of title policy/endorsement, recorded DOT and any other collateral or trailing documentation without oversight.
• Ensure appropriate bank-controlled accounts are opened by the Business Unit and applicable holds are on the account(s).
• Respond to inquiries from customers, relationship managers and/or interdepartmental personnel concerning status of loan closing.
• Works closely with outside counsel to keep closing checklist up to date, participates on calls related to the loan closing and regular follow-up with client to make sure closing checklist items are received timely.
• Maintain a professional and courteous attitude and demonstrate a true concern for internal and external clients.
• Ensure all necessary final documents and due diligence are saved to the bank's official document repository.
• Cross-train junior Loan Administrators.
• Provide backup support for the Loan Administration team as needed.
• Able to work independently with minimal supervision.
• Possess specialized knowledge of the loan boarding function, terminology, policies and procedures and may be required to perform the due diligence requirements for commercial loan purchases.
• Follow all established policies and procedures.
• Perform other duties and projects as assigned.

Requirements

• Bachelor’s degree
• Minimum of three(3) to five (5) years of commercial loan administration and financial services experience including: loan documentation preparation, loan closing and funding.
• Proficient understanding of all documents required for all borrowing entities and ability to assess if the legal documents drawn cover all necessary terms and conditions appropriate for the approved credit product.
• Current knowledge of Real Estate, Construction, Commercial & Industrial (C&I), Entertainment, Specialty Lending, Asset Based Lending, and Syndicated Lending loans.
• Familiar with IBS (or similar) loan system preferred.
• Knowledgeable in all branch functions associated with origination, processing and closing.
• Assures compliance with all Bank policies and procedures, as well as, all applicable state and federal banking regulations.
• Ability to exercise discretion and independent judgement that has moderate impact on the immediate work unit and cross functional departments.
• Ability to make a conclusive recommendation based on independent analysis.
• Proficient knowledge of title policies and related loan regulations such as RESPA, HMDA and other Bank lending policies.
• Intermediate knowledge of commercial insurance terminology, forms, and bank requirements.
• High School diploma or equivalent required.