Job Purpose:
The Commercial Loan Processor plays a critical role in supporting INSBANK's lending operations by ensuring the efficient and accurate processing of commercial loan applications. By managing the documentation and administrative aspects of the loan process, the Commercial Loan Processor enables the bank to extend credit to businesses efficiently, helping to support economic growth and customer satisfaction. The Commercial Loan Processor is responsible for supporting bank initiatives within the lending function and seeking opportunities to enhance the efficiency, productivity, and responsiveness of the department. This role requires the desire to be an engaged, contributing member of the Loan Administration team, participating in projects and strategic objectives to enhance the overall effectiveness of the department.
Job Description:
Responsible for reviewing loan documentation, verifying financial data, and coordinating with internal departments, lenders, and clients to facilitate the smooth progression of loans from application to closing. Shepherd loans through the final stage of the loan life cycle, from approval, documentation, closing and booking. Responsible for ensuring the creation of appropriate and accurate loan documentation, either through the loan documentation platform, LaserPro, or through coordination with attorneys. Must be familiar with complex loan documentation for various structures, business types, multiple layered terms and collateral types. Must be familiar with varied business entity structures, corporate documentation, operating agreements, partnership agreements and joint ventures. Must be comfortable with documentation strategies and requirements to perfect various collateral types.
Duties and Responsibilities:
- Prepare and review commercial loan documentation in compliance with bank policy and state and federal regulations.
- Act as a liaison with legal counsel, borrowers and third-party vendors in coordinating receipt and review of required documents.
- Communicate with Relationship Managers, Commercial Loan Coordinators, clients, and other bank staff to ensure expeditious handling of loan requests.
- Obtains information related to the loan origination process including ordering title reports, insurance information, flood certificates, Secretary of State searches and various other items.
- Assists in the preparation of disbursement worksheets, loan documentation checklists, and other communications necessary to properly document the loan files.
- Ensures that all loan documentation and customer information is scanned into the core system in a timely manner.
- Ensures that all liens, including deeds of trust and notice of liens are filed in a timely matter to protect the Banks lien on collateral.
- Attend bank loan committee meetings and customer closings as necessary.
- Finalize closed loan packages to include disbursement of proceeds, review of signed documents, tracking of exception items and boarding of loan record on bank core system.
- Analyze current processes to identify inefficiencies or areas that could be streamlined.
- Assist with projects that align with the bank's strategic objectives, ranging from improving existing processes to implementing new systems or technologies.
Other Key Job Functions:
- Communicate effectively with Management, Auditors, Vendors, and other bank personnel.
- Adhere to all bank and department personnel policies and procedures
- Perform other reasonably related job responsibilities as assigned by immediate supervisor and other management as required.
Required Knowledge, Skills and Abilities:
- 3-5 years commercial loan processing experience preferred.
- Ability to build rapport with peers and foster interdepartmental relationships.
- Ability to apply critical thinking skills and maintain a solution- driven approach.
- Excellent verbal and written communication skills.
- Possess excellent analytical skills.
- Research and development skills.
- Initiative, dependability, and ability to work with minimum supervision.
- Ability to make efficient, quality decisions as needed within stated limits.
- High level of accuracy, attention to detail and the ability to manage and prioritize tasks with timely follow-up.
- Ability to maintain the strictest level of confidentiality.
- Regular reliable attendance and punctuality are essential functions to this position.