What are the responsibilities and job description for the Loan Operations Specialist position at Andover State Bank?
Let’s face it, what sets ASB apart from other banks is our people. At Andover State Bank, we are defined by our impeccable customer service and sense of community because we are the community. As a local bank, we consider employees and customers alike as family and treat each other as such. Going above and beyond is no longer just a saying; it’s a way of life here at Andover State Bank!
ASB is looking for a Loan Operations Specialist to join our credit team.
Location: Andover State Bank, Andover Kansas
Department: Loan Operations
Reports To: Loan Operations Manager
Job Type: Full-time
Position Summary:
The Loan Operations Specialist is responsible for supporting the loan processing, servicing, and documentation functions. This role ensures accuracy and compliance with banking regulations while maintaining excellent customer service for both internal and external stakeholders. The specialist will handle loan disbursements, payment processing, document management and system maintenance to support the bank's lending activities.
Primary Responsibilities and Duties
- Prepare, review and verify loan documents for accuracy and compliance with bank policies and regulatory requirements.
- Process loan onboarding to the core system with accuracy, which may include loan disbursements, payoffs, and advances according to approved terms.
- Maintain loan files, ensuring all required documents are properly recorded and stored.
- Assist loan officers and credit analysts with gathering documentation and resolving exceptions and discrepancies.
- Review onboarded loans for accuracy and perform any maintenance as per approved terms.
- Perfect on all collateral securing loans by executing filings, recordings, liens and releases as applicable.
- Process loan payments, adjustments, and modifications to loan accounts in the bank’s core system.
- Handle escrow accounts, including tax and insurance payments.
- Balance department’s clearing accounts.
- Capture and record daily updates of all interest rate indexes.
- Respond to customer inquiries regarding account details promptly and professionally.
- Ensure compliance with federal and state banking regulations (e.g., RESPA, HMDA, Reg Z) and bank policy and procedures.
This job description represents a general overview of the position and may not include all possible tasks or responsibilities; other duties may be assigned as needed.
Requirements:Education & Experience
- High School diploma or equivalent required; college degree preferred.
- Minimum 2 years of similar or related work experience (e.g., banking, lending, legal, compliance).
- Strong written, oral and organizational skills- with the ability to be detailed while multi-tasking in a fast-paced environment to meet deadlines for time sensitive tasks.
- Strong knowledge of Microsoft products, Adobe PDF Editor, and experience with computer software programs.
- Familiarity with loan origination software and/or banking core systems is preferred.
Andover State Bank offers career opportunities, a friendly work environment, and a competitive benefits package. Salary is commensurate with experience.