What are the responsibilities and job description for the Commercial Services Administrator position at Millbury Federal Credit?
Commercial Services Administrator
Full Time, In-person (not a remote position)
Location: 50 Main St., Millbury, MA
Join a winning team at MCU Commercial Services a subsidiary of Millbury Federal Credit Union
Commercial Services is seeking a qualified professional to fill the position of Commercial Services Administrator. The incumbent must be highly organized, detail oriented and able to juggle multiple responsibilities. The successful candidate will have excellent communications skills, proclivity to serve in a supporting role, and be able to handle changing priorities, workload, and frequent interruptions while maintaining composure and focus at all times.
Summary: Reporting to the Senior Vice President / Commercial Loan Manager, the Commercial Services Loan Administrator is responsible for a variety of administrative duties in support of the company.
Essential Functions and Activities:
Loan Processing & Documentation
- Collect and verify essential loan documentation, including title reports, UCC searches, customer identification, insurance policies, and flood certifications.
- Prepare and review business loan documents ensuring accuracy with approvals and compliance with MCUCS policies and regulatory requirements.
- Coordinate loan closings with members and attorneys ensuring all requirements are met prior to funding.
- Ensure all loan files are complete, properly executed, and imaged for accurate record-keeping and future reference.
- Process loan disbursements, advances, payments, and wire transfers in accordance with policy and loan agreements.
- Prepare pay off requests and mortgage discharges as directed by management.
- Monitor and follow up on documentation exceptions, ensuring all outstanding items are cleared post-closing.
Member & Administrative Support
- Prepare monthly reports and MCUCS board packages
- Reconciles CUSO general ledger accounts with counterparts in the MCU finance department.
- Serves as a liaison between commercial lenders, clients, and internal departments, providing timely responses to inquiries and ensuring timely communication.
- Assist lending staff with gathering financial statements, clearing loan exceptions, and coordinating with external professionals (CPAs, appraisers, attorneys, insurance agents) as needed.
- Draft and send correspondence, term sheets, approval and denial notifications, and other loan-related communications.
- Maintain and update client records, ensuring all necessary documentation is properly recorded and organized.
- Provide support in processing loan modifications, renewals, and extensions, ensuring compliance with approval conditions.
- Handle administrative duties such as coordinating internal and external meetings, and organizing documentation for audits and internal reviews.
- Prepares monthly expense reports for MCUCS lending staff
- Orders supplies for MCUCS
Compliance & Risk Management
- Ensure compliance with applicable regulations, including the Bank Secrecy Act (BSA), HMDA, U.S. Patriot Act, Truth in Lending Act (TILA), and Fair Credit Reporting Act (FACTA).
- Track and manage RMV and UCC filings, ensuring timely renewals and amendments for lien protection.
- Monitor and follow up on expiring insurance policies, verifying adequate coverage is maintained.
- Conduct due diligence in the loan origination process by performing credit checks, verifying customer information, and ensuring regulatory requirements are met.
Operational & Miscellaneous Responsibilities
- Maintain the weekly Commercial Loan Pipeline report for distribution to senior management.
- Monitor and manage past-due reports, assisting lending staff in collecting outstanding loan payments and interest.
- Assist in tracking and reconciling loan fees, expense reimbursements, and deposit accounts related to commercial lending.
- Maintain confidentiality of sensitive client and company information, adhering to all security protocols.
- Perform other duties as assigned to support commercial lending operations and improve efficiency.
Skills and Abilities:
- Ability to read and understand commercial loan notes.
- Understand various Commercial Loan documents such as: notes, loan agreements, security agreements, mortgages, UCC filings, motor vehicle titles, Guarantees, mortgage discharges and collateral releases.
- Basic understanding of Commercial Loan participations.
- Presents a professional, courteous, and positive image and manner
- Aids the department in a helpful and productive manner, as a team member
- Cooperates and shows flexibility to transitioning easily from task-to-task.
- Supports the collective goals of the CUSO
- Works independently within the role and with an appropriate sense of urgency
- Willingness and capacity to learn and perform complex commercial credit analysis
Education, Knowledge and Experience:
- Associate degree or equivalent combination of education and experience.
- 3 – 5 years related experience and/or training.
- Knowledgeable in Microsoft Office Suite.
- Ability to handle multiple tasks.
- Excellent communication skills.
Working at MCU - Commercial Services [MCUCS]
As a CUSO of Millbury Federal Credit Union, MCUCS places strong emphasis on providing quality service to our members and you! MCUCS offers a family - friendly working environment and outstanding benefits.
Benefits: MCUCS places strong emphasis on providing quality service to our members and you! MCUCS offers a family - friendly working environment and outstanding benefits which include competitive salary, vacation, sick, and personal paid time off, 11 paid holidays, health, dental, vision, life, and disability insurance as well as tuition assistance, 401(k) and profit share plan, and an annual bonus to qualified employees. We offer a respectful and inclusive workplace where everyone is given the opportunity for personal and professional growth.
At MCUCS you will find a respectful and inclusive workplace where everyone is given the opportunity for personal and professional growth. If you share a passion for the community you work in, you just may be a great fit at MCUCS. We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law.
