What are the responsibilities and job description for the Commercial Loan Associate position at Windsor Federal Bank?
POSITION SUMMARY :
Assists Loan Officers, department managers, lending team members, and legal counsel with the processing and documentation of new loan requests and modifications. Provides administrative support to Loan Officers and collaborates with them to provide outstanding customer experiences to include in processing and servicing loan accounts, and maintenance of loan records. Manages workflow to achieve a high degree of efficiency and productivity while ensuring compliance with all regulations, bank policies, procedures, and safety and soundness requirements.
ESSENTIAL FUNCTIONS
Closing :
- Discusses closing requirements with Loan Officers, Credit Administration, borrowers and attorneys as needed and ensures all closings occur within scheduled target dates.
- Communicates effectively and professionally with customers, attorneys, and co-workers.
- Accurately prepares loan documents using the bank’s approved software to ensure compliance with approved loan terms and conditions.
- Coordinates more complex loan closings with the loan officer, borrower and outside counsel to ensure proper documentation and adherence to approval terms while providing a high level of customer service.
- Verifies all pre-closing conditions have been satisfied and that required loan covenants are properly documented.
- Records deeds, UCC filings, automobile titles, etc. with appropriate authorities, as necessary.
- Builds and maintains files, folders, and system data according to the Association’s standards.
- Sets up loans accurately on the core processing system and in the commercial management system.
- Orders necessary reports, documents and actions, such as flood certifications, title searches, UCC searches, etc. as appropriate.
- Ensures compliance with all Association policies and procedures including, but not limited to, BSA / AML, FCRA, Reg Z, etc.
- Processes initial closing disbursements according to Closing Statement instructions.
- Maintains detailed records and provides support for items impacting GL reconciliations.
- Reconciles application and origination fees (e.g., appraisal fee, environmental report fee) received from the borrower or paid by the bank so that the amount due to or from a borrower can be settled at closing.
- QC commercial loan data that is input into CRA and HMDA data collection records in the commercial management system (CMS).
- Updates loan tracking systems (e.g., UCC-1 expirations, manual rate changes, troubled debt restructures) on an ongoing basis.
- Enters, monitors, and assists with resolution on all Doc Request items and documentation exceptions; follows up with customers, Loan Officers, and / or attorneys to resolve exceptions.
- Contacts Loan Officers, attorneys and customers to obtain necessary data to respond to reporting needs, as needed.
- Supports document imaging initiatives.
- In conjunction with Loan Servicing, monitors all CRE loans for current / delinquent tax payments, contacting the customers and communicating with Loan Officers as necessary.
- Assists Loan Officers with monitoring delinquencies.
- Assists Loan Officers with the gathering of documentation necessary for an attorney to be authorized to perform closing activities on behalf of the Association.
- Maintains knowledge of legal requirements and compliance issues pertaining to assigned work.
- Attends workshops and seminars on issues pertinent to loan documentation and closings.
- Performs other administrative duties as needed or requested; assists the Loan Officers as time permits.
- Completes all mandatory compliance training, such as BSA, in a timely manner.
- Performs all other duties as may be assigned.
Servicing :
REQUIRED EDUCATION / EXPERIENCE / SKILLS :
Windsor Federal Bank, an Equal Opportunity Employer, offers a competitive compensation and benefits package including vacation, personal days, paid sick time, holidays, participation in a 401(k) plan, and profit sharing.
Windsor Federal Bank offers a competitive salary and full benefits package.
For consideration for this position send resume to : ajohnson@windsorfederal.com
Windsor Federal Bank, 270 Broad Street, Windsor, CT 06095
An Equal Opportunity Employer
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