Paid Loan Specialist

Job Description

At Stearns Bank, we’re helping people, entrepreneurs, small businesses, and local communities nationwide reach their full financial potential. Sound like something you want to be a part of? If so, we’re currently looking for a Paid Loan Specialist to join our team! You will be required to work IN-OFFICE up to twice a week at our St. Cloud branch location in Minnesota.

Come see how we’re doing business unusual and charting our own path to reimagine a more inclusive financial services and banking ecosystem for all.

Benefits

Stearns Bank understands and respects that everyone is managing unique career, family, and wellness needs. That’s why we offer industry-leading benefits to employees to help them live healthy lives and bring their full selves to work every day. Benefits may vary for part-time positions. Some of those benefits include:

• Employee Stock Ownership Plan & 401k Plan with Employer Match
• Healthcare (Medical, Dental, Vision, Telehealth, Life insurance)
• 12-week Paid Medical Leave
• Paid Parental Leave: 21-weeks Primary Care Parent, 14-weeks Secondary Care Parent
• $5,000 Family Care Reimbursement
• Childcare, Elder Care, Student Loan Debt, Pet expenses, down payment assistance
• $1,000 Self Improvement Allowance
• PTO from 13 to 23 days depending on tenure. Cashout and Carryover options.
• 10 Days Sick Time
• 11 Paid Holidays
• 4 Days Volunteer Time
• 2 Days Self Allowance Time
• Tuition Assistance
  
  

For this position, we anticipate an hourly range between $24.00 -$27.00 per hour. Final employment offers will be dependent upon the selected candidate’s relevant qualifications and experience.

Job Summary

This position will facilitate the day-to-day paid and renewal loan processing for real estate and non-real estate loans [consumer, commercial, and SBA.] as well as processing all payoff quote requests. This process includes working directly with Loan Operations, the Lending Line, and related parties to ensure each loan is properly documented for paid status, collateral is properly released, and all related maintenance is performed. This includes the servicing for all current and acquired Stearns Banks.

Responsibilities

• Close out the paid loan file after loan has been paid off.
• Print Paid Notes Report daily.
• Obtain Officer Authorization for release of collateral if applicable.
• Prepare check and letter if there is an escrow balance left on paid loan.
• Prepare overage checks.
• Request loan files from Imaging Department.
• Update note status & date to M-Files.
• Delete note ticklers.
• Verify if there are Bank controlled accounts associated with the paid off loan, if so, email authorized signers to disburse funds and close account.
• Prepare Satisfaction/Lien Releases, UCC terminations, Life Insurance releases, Stocks and Share Certificates.
• Prepare payoff letter.
• Scan documents into M-Files.
• Request and prepare payoff statements via M-Files.
• Back up loan operations staff.
• Research miscellaneous satisfaction requests.
• Maintain working knowledge of all legal and regulatory compliance issues as they pertain to this position.
• Loss prevention and security as applicable for this position.
• Complete required training.
• Assume additional responsibilities as requested.
  
  

Requirements

• Occasionally lift and/or move up to 25 lbs.
• Ability to understand and follow instructions in English.
• Ability to sit for extended periods of time, twist, bend, sit, walk use hands to twist, handle or feel objects, tools, or controls, such as computer mouse, computer keyboard, calculator, stapler, telephone, staple puller, etc., reach with hands and arms, balance, stoop, kneel, talk, or hear.
• Specific vision abilities required by the job include close vision, distance vision, peripheral vision, depth perception and the ability to adjust focus.
• Must be able to multitask.
  
  

Qualifications

• Associate degree (A.A.) or equivalent from a two-year college or technical program; or two to four years work related experience and/or training.
• Accurate typing 50 wpm.
• Strong computer skills.
• Attention to detail and good basic math aptitude.
• Flexible.
• Strong organizational skills.
• Standard business machine skills including 10-key calculator.
• Team player, self-starter.
  
  

PREFERRED

• Working knowledge of ITI banking software.
  
  

The Company

Founded in 1912, Stearns Financial Services Inc. (SFSI) is a $3.2 billion, independently owned financial institution with locations in Minnesota, Florida and Arizona, and over 35,000 small business customers nationwide. Specializing in affordable housing financing, USDA and SBA lending, and small business and equipment financing, Stearns Bank is regularly recognized as one of the country’s top-performing banks and “Best Banks to Work For” by American Banker.

As a Star Tribune Top Workplaces award recipient and an award recipient of the Minnesota Business Magazine 100 Best Places to Work in Minnesota, Stearns takes pride in their team and holds their employees in extremely high regard. We offer a competitive salary and benefit package including our Employee Stock Ownership Program-one of the best long-term incentive programs in the nation. To learn more about Stearns Bank, visit www. StearnsBank.com

EQUAL OPPORTUNITY EMPLOYER /AFFIRMATIVE ACTION PLAN

We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, or creed, religion, sex, marital status, familial status, sexual orientation, national origin, age, disability, veteran’s status, status with regard to public assistance, or any other class protected by Federal, State, local laws governing nondiscrimination in employment.