What are the responsibilities and job description for the Business Loan Document Specialist I/II/III position at Navy Federal Credit Union?
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Basic Purpose
To assemble business loan documentation to close loans for Business Services real estate, and secured and unsecured loans in accordance with applicable federal/state laws and Navy Federal policies and procedures. Fund business loans after closing and maintain/assemble the loan and collateral files for each business loan transaction. Perform due diligence related to loan transaction type. Process paid off loans, adverse action letters for business credits, participation loan payments, and draw requests for business members. Primary focus is on the back end post-closing role, Consumer Lines Of Credit (CLOC), CD secured loans, unsecured term loans and business vehicle loans, including Consumer to Business (C2B) and other loan transactions, as well as secured term loans, standby letters of credit, Business Line Of Credit (BLOC), secured term loans (equipment and rolling stock) and other moderately complex business loan transactions.
Responsibilities
Qualifications – All required unless otherwise noted
Desired
Hours: Monday - Friday; 8:00AM - 4:30PM CST
Location: Greater Pensacola Operations - 5550 Heritage Oaks Dr, Pensacola, FL 32526
Pay Range: $17.50 - $25.50 Hourly
Responsibilities
- Produce loan documentation for commercial Real Estate, Business Line of Credit (BLOC), Secured and Unsecured loans, Letters of Credit, Checking Lines of Credit (CLOC) and Consumer to business vehicle transfer loans
- Ensure adherence to established Navy Federal Business Services policies and procedures
- Perform post-closing duties to include verification of loan setup on related servicing system and generate online communication for maintenance of loans
- Perform routine file maintenance on existing loans files when a loan file is renewed or paid off
- Perform an audit of closed loan files to ensure all loan documents match the approval document, including technical details of the loan, such as payment date, amount, interest rates and terms, etc.
- Perform cross reference and review of hardcopy and electronic loan files for completeness
- Monitor and complete manual booking processes and maintain loan administration pipeline and closed log
- Generate and update tracking documents as received and scan/copy items to specific loan or collateral file
- Create new loan files pre and post-closing and review for completeness, create exception advisor tracking items, file items and scan to image system
- Perform first level review of transactions; follow due diligence steps regarding regulations and fraud; escalate as appropriate
- Resolve or arrange for resolution of operational/processing issues, inquiries and complaints
- Identify, investigate and resolve discrepancies/processing problems to include documentation and time-sensitive issues
- Research, analyze and resolve issues related to documentation
- Monitor and perform actions needed to maintain business services credit card orders
- Perform quality assurance cross check and reviews as outlined within the Business Loan Administration Quality Assurance plan
- Work with Business Loan Documentation Specialists II and III to review more complex loan files such as multi-collateral and multi-tenant CRE transactions
- Develop and recommend enhancements to improve operational processes and procedures
- Performs other related functions as assigned or appropriate
Qualifications – All required unless otherwise noted
- Familiarity with software loan packages such as: ComplianceOne (Wolters Kluwer), Baker Hill (Bank 2 Business, Exception Advisor, Client Advisor), UAD, MSP (Black Knight), ALS, MS Office Suite, Lotus Notes, TSYS, Other 3rd party vendor software solutions (e.g., CT Liens & EDR)
- Working knowledge of various regulatory guidance provided by the NCUA, such as Reg B and other regulations
- Familiarity with title searches, title insurance and the ability to interpret HUD statements and closing instructions for real estate related transactions
- Effective researching and analyzing account data to effectively process and solve problems for multiple types of accounts
- Working knowledge to maintain/apply and explain current knowledge of lending laws/regulations and Navy Federal policies, procedures, program products, and enhancements to ensure compliance and minimize financial risk
- Effective skill exercising initiative and using good judgment to make sound decisions
- Effective skill interpreting, applying and explaining written and oral regulations, instructions, products and procedures in English
- Effective skill performing mathematical calculations and working accurately with numbers
- Effective verbal and written communication skills
- Basic word processing and spreadsheet software skills
- Effective English grammar, vocabulary and writing skills
- Exposure to member/customer service preferably in a call center, retail banking or financial institution
- Exposure to business loan documentation, including promissory notes, security agreements, loan agreements, guaranties and other required documentation
- Effective skill interacting with staff, management, vendors and members diplomatically and tactfully
- Effective skill reviewing documents for errors, inconsistencies or missing information
- Experience in managing multiple priorities independently and/or in a team environment to achieve goals
- Effective skill interacting with staff, management, vendors, members diplomatically & tactfully
Desired
- Familiarity with Navy Federal financial and credit transaction documentation processes
- Familiarity with mortgage/equity loan processing, closing and documentation requirements and regulations
- Exposure to working with/for depository and lending institutions
Hours: Monday - Friday; 8:00AM - 4:30PM CST
Location: Greater Pensacola Operations - 5550 Heritage Oaks Dr, Pensacola, FL 32526
- Navy Federal is now hybrid! Our standard enterprise requirement for a hybrid schedule is to report onsite 4-16 days each month. The number of days reporting onsite will ultimately be determined by the employee's leadership and business unit needs. You will learn more throughout the hiring and onboarding process.
Pay Range: $17.50 - $25.50 Hourly
Equal Employment Opportunity
Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability
COVID-19 Safety Protocols
All employees are expected to follow our COVID-19 safety protocols.
Disclaimer
Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position.
Bank Secrecy Act
Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
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