Come join our growing, innovative team here at sfcu. The Commercial Loan Administrator performs a wide variety of tasks related to processing, servicing, and portfolio management of business and commercial loans according to established policies, procedures, and regulatory guidelines thus assuring overall quality and integrity of sfcu's commercial loan portfolio. The Commercial Loan Administrator will be responsible for the timely processing of all incoming business loan applications, preparation of commercial loan documentation, loan closings, portfolio management, process improvements, and data systems management and development.
Sfcu benefits statement: We are proud to offer a generous 401K package and competitive benefits including medical, dental, vision. Employee life insurance is employer provided. Paid federal holidays, PTO starting at 60 days, NYS Sick time. tuition assistance and the opportunity for growth through career pathing.
Essential Functions & Responsibilities:
Acts as main liaison for attorneys, service providers, members, loan officers & underwriters, and branch personnel to prepare for and facilitate business loan closings.
Enters loan request applications in the business loan origination system (LOS) and Core system. Performs the quality control function for new loans and the maintenance on booked loans. Monitors the integrity of data entered into Core & LOS systems.
Maintain current knowledge of all federal and state laws and regulations, as well as Credit Union policies and procedures relative to business, commercial, and consumer lending. Ensures compliance with all banking laws, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards.
Active role in assessing data systems functionality, workflows, and testing. Identify system limitations and work with management to formulate resolutions and implement plan for process improvements.
Troubleshoots routine commercial system problems; provides problem resolution and serves as an information resource regarding system input.
Develop and maintain job function and departmental procedures. Actively review current procedures and processes to further improve efficiencies with workflows by leading initiatives and collaborating with sfcu technical business partners/colleagues
Complete comprehensive audits of newly booked loans to ensure accurate documentation and loan system data integrity.
Prepare loan documentation with appropriate structure, covenants, conditions, and language with utmost accuracy. Ensure timely delivery of documents to branches, business lenders, members, and attorneys. Work with outside legal counsel on loan documentation as necessary. Ensure all loan structures and documents adhere to regulatory requirements (Reg B, Reg O, etc.) and provide lender security.
Perform tasks such as answering internal and external member inquiries, providing and receiving member business loan applications and requests, resolving problems, and providing a best-in-class member experience while adhering to work guidelines, policies, and regulations.
Fund and board commercial loans, including collateral and insurance records as well as change in terms, risk ratings, etc.
Validate all servicing conditions and loan terms are met prior to boarding and funding loans.
Post loan closing - organizes loan files, ensures all required legal documents have been obtained and filed appropriately, follow up with members and attorneys as necessary, processes collateral filings and documentation, audits loan files, make necessary adjustments to the loan records when applicable.
Manage and maintain monthly tickler reports. Work with members and department staff to ensure the timely collection of required documentation and/or financials.
Servicing activities include but are not limited to processing tax payments, obtain business and consumer credit reports, lien searches, entity status, completing escrow analysis, researching tax issues, addressing member inquiries, and resolving loan servicing requests, maintaining loan system data, supporting internal and external audits.
Validate all servicing conditions and loan terms are met annually.
Responsible for obtaining and reviewing all entity documentation, determining required signatories per the defined entity documents, and ensuring documents are prepared, appropriately executed, and filed to be a legally binding document.
Process loan payoffs including but not limited to the preparation of collateral and recording releases.
Providing backup for other department support positions.
Participates in special departmental projects as required.
Performs other job related duties as assigned.
Knowledge and Skills:
Experience Three years to five years of similar or related experience.
Education A high school education or GED.
Interpersonal Skills: Work involves extensive personal contact with others and is of a personal or sensitive nature. Motivating, influencing, and/or training others is key at this level. Outside contacts become important and fostering sound relationships with other entities (companies and/or individuals) becomes necessary and often requires the ability to influence and/or sell ideas or services to others.
Ability to read and interpret loan and legal documents.
Strong analytical skills.
Excellent verbal/written communication skills.
Proficient in Microsoft Office (Excel, Word) and other report writing software, ability to be proficient with Loan Origination System and assist in development to enhance efficiencies.
Excellent organizational skills and ability to multitask.
Detail oriented; high degree of accuracy.
Basic accounting knowledge.
Ability to work in a deadline-driven environment with frequent changes in priorities and an emphasis on member service and teamwork.
Ability to work with very limited supervision and inspection of work. Role is expected to function independently with consultive direction from supervisor. Role is often involved in identification and resolution of problems or errors of others within input from immediate supervisor.