Post Closing Loan Auditor

This position is responsible for mitigating bank risk by ensuring properly executed original documentation is returned as well as ensuring the loan system appropriately identifies whether or not the loan is pledgeable to bank regulatory authorities. The position is also responsible for ensuring all affirmative covenant exceptions are setup per legal loan documentation, Credit Memo and Credit Policy. Accurate and timely establishment of covenant exceptions is critical for monitoring the financial health of the borrower and allows the lender sufficient opportunity to mitigate risk. It is also responsible for reviewing and validating covenant documents collected by lending personnel for exception clearing. Additional responsibilities include management of collateral on host system to ensure insurance and tax monitoring accurately occurs to mitigate risk of collateral loss. Additionally, the position is responsible for advising lending staff of documentation issues requiring correction.

PRINCIPLE DUTIES AND REPONSIBILITES

• Audit all loan documentation to ensure receipt of original documents and enter follow-up items and exceptions into tracking system with appropriate tickler dates.
• Evaluate and analyze insurance policies to determine if the coverage amount meets or exceeds bank policies and/or federal regulations.
• Analyze loan documentation to identify and certify bank and regulatory policies are met.
• Receive and evaluate UCC Lien Searches to validate MidFirst Bank’s lien position.
• Ensure holds are placed on deposit accounts and possessory collateral is properly safeguarded.
• Review incoming documents to clear exceptions and update tracking system accordingly.
• Manage collateral record on the host system to ensure collateral is accurately reflected.
• Interpret loan documentation, Credit Policy and Commercial Lender’s Handbook.
• Perform miscellaneous administrative duties or projects as assigned.

JOB REQUIREMENTS

• 1 to 2 years of loan auditing or processing experience is preferred.
• Excellent interpersonal, written and oral communication skills are required.
• Ability to make sound decisions and produce quality work under general or limited supervision.
• Working knowledge of more complex commercial transactions is preferred.
• Working knowledge of credit agreement covenants, loan documentation in multiple states, Article 9, UCC and other federal and state regulations is preferred.
• Working knowledge of commercial and consumer lending policies is preferred.
• Excellent critical thinking and problem solving skills.
• Excellent teamwork skills.
• Excellent PC skills, including MS Word, MS Excel, and programs used to generate loan documents.
• Ability to adjust priorities to changing circumstances and maintain quality in fast-paced atmosphere.
• Great organization skills and very detailed oriented.

DISCLAIMER STATEMENT

The above statements are intended to describe the general nature and level of work being performed by personnel assigned to this job.  They are not intended to be an exhaustive list of all responsibilities, duties and skills required.  Incumbent may perform other duties as assigned.