What are the responsibilities and job description for the C&I Loan Operations Manager position at Blue Foundry Bank?
This is the Bank Where Things are Made. Blue Foundry is a bank where businesses are shaped, plans are formed, ideas are refined, solutions are built and stuff gets done. Blue Foundry is revolutionary, bold, resourceful, roll-up-your-sleeves committed, smart, creative and fun. A Bank of movers, shakers, and makers……We are a Bank that Gets Things Done.
Summary: Responsible for overseeing C&I and government loan programs, including SBA and USDA, Act as liaison between front office and Loan Servicing for all C&I lending products, focusing on adherence to policy and process innovation. Work with commercial closing function to ensure all on-boarded loans are processed in accordance with the approved transaction and legal documentation. Work with Portfolio Management to ensure all Covenants, Ticklers and post-closing requirements are set up systemically and are met.
Requires a comprehensive knowledge of C&I lending products and Standard Operating Procedure (SOP) for each government agency. Responsible also for serving as the primary contact in the bank for third party SBA loan servicer.
Minimum Job Requirements:
- Bachelor's Degree or equivalent work experience - Finance, Accounting, Management, Economics, or equivalent field. [LF1] [JG2]
- 5 years [LF3] of C&I and SBA experience including managing SBA operations and reporting with a strong understanding of SBA guidelines and SOP.
- Experience closing and being the lead SBA Office of Credit Risk Management (OCRM) audits.
- Working knowledge of the following systems a plus: COCC core system, Abrigo/Sageworks, Corelogic Tax Service
- Strong customer service skills
- Strong attention to detail and ability to meet deadlines
- Excellent written and oral communication skills, as well as strong organizational skills
Specific Job Functions:
- Act as a liaison between front office, C&I and SBA lenders and lending operations
- Work with closers, portfolio managers and credit to make sure all post-closing requirements are completed.
- Work with closers and portfolio managers to make sure all ticklers and covenants are entered systematically.
- Work with closers, lenders, and portfolio managers to make sure all intake forms accurately reflect the approved and legally documented transactions.
- Work with portfolio managers to address any customer related inquiries.
- Monitor and process UCC collateral lien recording renewals
- Verifies data input on newly issued loans for quality control purposes
- Processes construction loan advances on the on-line system
- Process maintenance changes to the core system Provides guidance to the lenders for government loan programs.
- Facilitates an expanded participation in the government loan programs together with a fully compliant loan, meeting all requirements of the respective government agency.
- Responsible for facilitating training of bank personnel and acting as the primary contact for all audits and loan reviews.
- Manage and perform tasks necessary to oversee the Post Loan Approval Process. In broad categories, these functions include working with the banks Loan Servicing Provider for Loan Documentation, Loan Closing, Loan Boarding/Collateral Perfection[LP4] , Loan Disbursement, Sale of the loan on the secondary market as directed by management, Loan Servicing, Loan Liquidation.
- Work with management in improving process and documenting procedures related to C&I and SBA Lending.
- Oversee Loan Documentation- this includes preparation and review of Loan Documents, coordinating closing with borrower/title company, process executed documents for appropriate perfection of collateral position.
- Properly board loan onto bank system and ensure standards are met.
- Administer loan advances in compliance with Bank Policy, Credit Authorization and SBA Policy (if necessary).
- Work with Secondary Market/SBA on sale of loans and payoff of interim 504 loans.
- Ensure all General Ledgers are in balance and proper controls are in place and adhered to on all post-loan approval processes.
- Prepare and distribute/submit weekly and monthly reports for submission to SBA, loan participants and Bank.
- Ensure bank compliance with SBA and Regulatory authorities including working with various bank auditors as necessary.
- Other duties as assigned by Bank senior management[LP5] .
All employees should have knowledge of the bank’s procedures and its compliance as it pertains to their position.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, LGBTQ, national origin, disability or protected veteran status.
At Blue Foundry Bank we invest in the well being of our most prized asset…….our employees! We provide a robust array of programs and benefits to help employees advance their careers and enhance the quality of their lives. Our experiential learning and development program ensures employees are on track to grow their career as of day one. In addition, our comprehensive compensation package includes: medical, dental, and vision coverage; life insurance, short- and long-term disability insurance; 401(k)Traditional/Roth with immediate company match up to 5%; Employee Stock Ownership Plan; paid time off, and 11 paid holidays; employee referral; and educational reimbursement.
Blue Foundry offers hybrid work schedules for HQ employees; wellness programs and use of on-site gym and much more! Come join the Blue Crew community and be part of our success.
