Commercial Loan Processor

The Commercial Loan Processor reports directly to and under the supervision of the Chief Lending Officer.

This position is responsible for preparing and processing all commercial loan documents and executing loan funding. Also responsible for analyzing business and loan structures to determine appropriate due diligence required based on risk and policy and regulatory guidelines. Ensure loans are documented and funded in accordance with the credit approval and/or purchase contract. Ensures that the needs of VFCU are met in providing quality services to its members and staff. This position meets and exceeds members? and staff?s expectations by providing timely, efficient loan funding and document preparation. Performs all duties accurately and in compliance with federal and state laws, rules, and regulations and complies with VFCU?s policies and procedures.

• Working with all Vice Presidents of Commercial Banking to prepare, process and review various commercial and small business loan documentation types for quick and efficient processing and closing.
• Coordinating with internal and external stakeholders to facilitate successful and timely closings of Commercial and Small Business loans. This shall include, but not be limited to, reviewing, and verifying various collateral documents to prepare for commercial loan document requests, categorizing and re-indexing all pre-closing documentation received, and reviewing loan document packages for missing loan documents and signatures.
• Coordinate, obtain, and review pre-closing conditions, including insurance requirements, and Complete Post-Closing final review of documents as needed.
• Prepare loan funding instructions and work with Accounting to ensure timely funding.
• Process all post-closing requirements which include verifying loan packages are complete and uploaded to appropriate platforms.
• Work with all Vice Presidents of Commercial Banking on all annual loan reviews to ensure they are completed in a timely manner.
• Responsible for ensuring complex loan transactions are complete and accurate and are in keeping with the policies and limits of VFCU.
• Demonstrates and appropriately applies a strong, working knowledge of diverse commercial loan documentation, legal & regulatory requirements, policies, and procedures, and applies that knowledge.
• Manages workload by monitoring newly received loans as well as tracking work in progress, including change in terms.
• Works directly with the Borrower/Member to complete necessary forms, in accordance with loan guidelines, and provide support throughout the loan application process.
• Orders and interprets third party reports, including but not limited to, preliminary title report, flood certifications, Certificate of Good Standing, UCC searches, site visits, insurance, lien / judgment, Tax Transcripts, and any other required reports.
• Understands all business entity structures and obtains/reviews entity documents to determine authorized parties that can bind the entity to the loan transaction.
• Proactively contacts borrowers directly to obtain required documentation and when facilitating closing date/times, when applicable.
• Understands, determines, and obtains appropriate approval for compliance requirements, such as Commercial Customer Identification Program (CIP), BSA, ECOA, OFAC, etc.
• Ensuring accurate reporting of Commercial activities, including complete Board reporting, monthly reporting, pipeline reporting, and others in collaboration with Lending leadership.
• Acts as a point of contact for members to help maintain relationships and provide resolution to concerns or questions.
• Maintains annual review reports and notifies members timely of required documents for annual review.
• Monitors and adjusts the daily workflow to meet operational commitments.
• Anticipates and identifies areas for improvement and recommends solutions.
• Perform special projects and other duties as assigned.

Education Experience & Skills

• 5 years of similar or related experience in commercial and SBA lending along with compliance and documentation regulations.
• A 2-year college degree, or completion of a specialized study at school, or extensive in-house training.
• Ability to make decisions, use good judgment and ingenuity.

Pay Range & Work Schedule

• This position is a Tier 9 with an hourly range of $25.57 to $38.36
  • The anticipated pay rate for new hires is between the low-end and midpoint of the range, depending on experience
  • The pay rates listed above are based upon the geographic location of our Administrative Offices in Modesto, CA using the greater Central Valley area for our pay range calculations
• Full Time, typically 36-40 hours per week. Schedule will be based around departments needs but will typically be:
  • Monday to Friday- 8:30am-5pm
  • Flexibility to occasionally work early or late hours, typically with advance notice