Commercial Loan Processor

COMMERCIAL LOAN PROCESSOR

DEPARTMENT: Lending
REPORTS TO: Loan Operations Supervisor
SUPERVISES: None
CLASSIFICATION: Nonexempt
LAST REVISED: May 2023

POSITION SUMMARY: As a Commercial Loan Processor at Bay Bank, you will be responsible for providing accurate and timely support to our commercial lending team. Your role will involve preparing loan documentation while ensuring compliance with regulatory requirements, booking and servicing new and renewed loans, answering inquiries, making loan payments and advances, research and problem solve loan related issues. You will collaborate with loan officers, outside venders, co-workers, and customers to ensure timely and efficient loan processing.

PRIMARY RESPONSIBILITIES AND ACCOUNTABILITIES:

1.Advances and supports the Bank’s Mission and Core Values through words, behavior, and appearance.

2.Embraces change, new technology, and enhancements to current technology.

3.Coordinate with loan officers to obtain all necessary documentation and information required for loan processing.

4.Prepare loan documentation and disclosures, including promissory notes, security agreements, and guarantees.

5.Booking new and renewed loans into the system. Reviewing reports after inputting and verifying that information was entered correctly.

6.Maintain accurate and complete loan files and documentation.

7.Responsible for ordering title work, letter reports, property evaluations and flood searches.

8.Verifying Insurance and/or Flood Insurance is in place with the proper flood zones, coverage amount, and cancellation dates.

9.Servicing loans for outside vendors with new loan additions to the system and accurately assisting with different requests and questions.

10.Processes loan payments and advances.

11.Provides customer service by assisting customers regarding payments, payoff quotes, general questions, etc.

12.Managing current UCC filings, Insurance, Flood Insurance, and outstanding Mortgages.

13.Balancing and reporting various accounts.

14.Prepare satisfactions and tear down the paid loan after it pays off.

15.Performs miscellaneous duties as requested by Supervisor.

16.Ensures adherence to all applicable compliance and regulatory requirements.

17.Strives to remain in compliance with all applicable banking regulations.

ROLE QUALIFICATIONS:

QUALIFICATIONS:

• High School Diploma

• 2 years of commercial loan processing experience in a bank or financial institution.

• In-depth knowledge of loan processing, underwriting, and documentation.

• Experience in commercial lending and an understanding of lending regulations and compliance requirements.

• Strong organizational, analytical, and problem-solving skills.

• Excellent communication and interpersonal skills, with the ability to work collaboratively with loan officers, co-workers, and customers.

• Proficiency in Microsoft Office, particularly Word and Excel.

• Knowledge of loan tracking systems and databases is preferred.

If you are a detail-oriented individual with a strong work ethic and a passion for ensuring customer satisfaction, we encourage you to apply for this exciting opportunity to join our team as a Commercial Loan Processor.

WORKING CONDITIONS:
Work is performed largely within the Bank with limited chance for personal injury. Prolonged and frequent mental and visual concentration required. Periodic stressful situations in response to multiple priorities within established deadlines. Work hours are generally during normal business hours. Unscheduled evening and weekend work may be needed to meet the needs of customers and employees. Occasional travel between offices and out-of-town/overnight business travel may be required. Must be able to lift and move up to 20 pounds of office supplies and equipment. Some bending, turning, and twisting required. Serves as a representative of the organization at appropriate functions.

GENERAL NOTICE:

This position description describes the general nature and level of work performed by the employee assigned to this position and should not be interpreted as all inclusive. It does not state or imply that these are the only duties and responsibilities assigned to the position. The employee may be required to perform other job-related duties. All requirements are subject to change and to possible modification to reasonably accommodate individuals with a disability.

This position description does not constitute an employment agreement between the Bank and employee and is subject to change by the employer as the needs of the Bank and requirements of the position change.

Job Type: Full-time

Pay: $18.00 - $24.00 per hour

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible spending account
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Physical setting:

• Office

Schedule:

• Monday to Friday

Education:

• High school or equivalent (Preferred)

Experience:

• Banking: 1 year (Preferred)
• Loan Processing: 1 year (Preferred)

Work Location: In person

Salary : $18 - $24