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This position is responsible for managing all daily activities and functions of the Loan Administration Department, which includes loan processing and documentation for all loans (residential, commercial and consumer), servicing of the Bank’s loan portfolio, as well as pools of sold loans, and loan document imaging. Responsible for ensuring adherence to bank and regulatory compliance as it pertains to loan origination and servicing.
Specific Work Requirements:
- Oversee the day to day activities of Loan Administration staff, which includes ensuring various servicing, processing and imaging tasks are completed accurately and timely.
- When applicable, review loan documentation for accuracy prior to delivery to borrower and/or to closing
- Ensure that various general ledger accounts are reconciled on a timely basis, while monitoring stale items to be cleared
- Oversee the process of imaging loan files, ensuring files are imaged and indexed accurately and timely.
- Prepare and distribute any loan reports to applicable personnel. As well as create reports using the bank’s reporting software, as needed.
- Oversee vendor management as it pertains to appraisers, attorney/closing companies and other loan related vendors. This includes initial due diligence, as well as periodic monitoring, review and reporting.
- Review flood determinations/policies prior to closing to ensure appropriate coverage.
- Conduct various self-assessments to ensure continued compliance as it pertains to items such as flood, ECOA, HMDA etc., as well as conducting pre-closing reviews of sold loans to ensure adherence to secondary market requirements.
- Responsible for submitting HMDA and CRA data on an annual basis, prior to the required due date.
- Perform year-end tasks and reviews to ensure tax information is accurate prior to delivery to borrowers
- Submit on a quarterly basis to the FHLBB, the Bank’s Loan Listing report of pledged loans.
- Act as liaison with auditors/examiners as it pertains to Loan Administration matters. Respond to audit findings and implement controls and/or modify procedures as needed, or as recommended.
- Perform any other processing or servicing duties as necessary to meet customer and department workload
- Conduct annual staff performance appraisals and salary reviews and recommend personnel actions as appropriate, while developing growth plans for staff.
- Train and cross-train loan administration personnel for efficient operations and to ensure compliance with all internal and regulatory
- Establish performance standards and objectives for all Loan Administration
- Review workflow and assignments, making changes as needed
- Recommend to the Chief Lending Officer any operating changes in loan origination and processing to enhance productivity and maintain regulatory compliance ; preparing policy and procedure changes and implement staff training as necessary to implement approved changes
- Meet or exceed established objectives and standards for loan processing performance
- Provide prompt, professional and courteous service to all clients, staff and vendors
- Remain abreast of all SBA regulations and requirements
- Actively participate in community organizations and events, representing the bank in the community
- Actively participate in industry trade group meetings and educational programs to remain abreast of current issues and requirements affecting bank loan operations
- Perform other duties as required within the definition of the job description
- Stay up to date on compliance and regulatory changes pertaining to lending
- Act as liaison with systems vendor (Jack Henry) to ensure any updates to systems and documents are implemented in timely manner
- As applicable, ensure compliance with the Bank’s BSA Program, which includes BSA, Anti-Money Laundering, Customer Identification Program (CIP), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), On-going activity monitoring, Currency Transaction Reporting (CTR) and Suspicious Activity Reporting (SAR). Successfully and promptly fulfill all associated periodic training requirements as established by the Bank.
Positions Reporting to the Position:
- Loan Operations Specialists
- Loan Document Imager
- Mortgage Loan Supervisor
- Commercial Loan Supervisor
- Bachelor's Degree in business or finance and/or equivalent work experience
- 5 to 10 years progressively more responsible experience in all aspects of loan processing and documentation on
- Staff management responsibilities
- Computer literacy, with specific experience in word processing, excel spreadsheet, loan origination and tracking system applications
- Must possess a valid driver's license, be able to drive, have the use of a serviceable automobile that is properly registered with adequate liability insurance as required by state
Job Type: Full-time