Loan Administration Specialist I

POSITION SUMMARY: The Loan Administration Specialist I is primarily responsible for data input into the core loan system(s) with emphasis on boarding a wide variety of loan and line products from simple to complex transactions in accordance with credit approvals and loan documentation. This includes booking of commercial, SBA, consumer, and mortgage loans, posting of transactions to loan and general ledger accounts, and updating system file maintenance. Other responsibilities will consist of escrow administration including analysis and all insurance and property tax payments. This position is governed by departmental policy and procedures. Responsibilities are performed under limited supervision.

RESPONSIBILITIES/ESSENTIAL FUNCTIONS:

• Boards/books new, renewed, and modified loans to the core loan system, including collateral information, ensuring accurate representation of loan terms, rate, payment schedules, and maturities within the loan system. Responsibilities include, but are not limited to, meeting completeness, turn time and accuracy requirements as dictated by established service level agreements for posting transactions to the loan accounting system. Ensures proper documentation for system maintenance.
• Ensures that new and renewed notes, extensions and advances, and loan payments and payoffs are booked within guidelines and regulatory requirements. Analyzes funding and disbursement information to ensure proper disbursement of funds via wire, deposit account, fee payment and/or disbursements to third parties.
• Perform escrow analysis on loans to ensure proper escrow account payments. Verify that escrow accounts are correct for the appropriate escrow disbursement by updating and maintaining system information.
• Distribute all insurance and property tax payments and research customer inquiries. This may include contacting insurance companies and county tax agencies.
• Scans incoming property insurance for booked loans confirming proper coverage and loss/payee.
• Research and respond to credit disputes within the e-Oscar system.
• Establishes auto-debit/ACH auto-pay on loan accounting system per instructions and customer authorization.
• Performs research of boarding errors and resolve problems. Assists with tracking, research, and reconciliation of loan fees.
• Performs other related responsibilities and projects as required or assigned.

REQUIRED QUALIFICATIONS:

Knowledge/Skill/Ability

• Working knowledge of loan accounting systems and loan operations.
• Excellent attention to detail and accuracy.
• Working knowledge of personal computer software (e.g., Microsoft Excel, Microsoft Word and Microsoft Outlook).
• Basic level of knowledge of loan documentation, policies, and procedures, as well as Business Banking and Commercial product lines, lending operations, policies, practices, and procedures.
• Good time management and organizational skills. Ability to meet deadlines under pressure.
• Ability to maintain regular, punctual attendance to perform the essential functions of the job.
• Effective verbal and written communication skills.
• Ability to appropriately escalate issues requiring problem solving and decision making.

Equivalent Education/Experience

• High School diploma or equivalent and one year working experience in a financial institution focusing on due diligence and/or loan documentation or four plus years’ equivalent work experience.

Preferred Experience/Qualifications

• One-year loan documentation experience preferred and/or experience in an automated loan origination environment.

PHYSICAL REQUIREMENTS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit, use hands to finger, handle or feel, reach with hands and arms, and talk, see or hear. The employee is frequently required to stoop, stand and walk. The employee must regularly lift and/or move up to 3 pounds and frequently lift and/or move up to 7-10 pounds.

The worker is not substantially exposed to adverse environmental conditions (typical office/administrative work environment).

SPECIAL JOB DIMENSIONS:

Work involves periodic overtime and adherence to deadlines and project completion deadlines.

Note: The above statements are intended to describe the general nature of work and level of being performed by individuals assigned to this position. They are not intended to be an exhaustive list of all duties, responsibilities and skills required for this position. The tasks and procedures involved in the performance of the job responsibilities may vary from day-to-day. Major changes in the areas of responsibility will require revision of this job description.