Job Purpose:
The Loan Operations Specialist performs loan servicing functions with minimal supervision, ensuring compliance with regulatory requirements and Bank policies. This position requires solid knowledge of loan operations processes and the ability to resolve moderately complex issues.
Key Responsibilities:- Review loan application materials and closing documents for completeness and accuracy prior to funding the loan to ensure proper signatures, disbursements and documentation obtained.
- Input loan data into the core system for new, renewed, and modified and extended loans according to the terms outlined in the loan documentation.
- Review morning reports daily, corrections to be made as necessary.
- Process payments, rate changes, and all other loan maintenance.
- Conduct quality control checks on loan files and correct discrepancies.
- Maintain loan system records, including payment schedules, escrow disbursements and escrow analysis, participations/syndications and SBA (1502 reporting)
- Handle payoff requests, loan verifications, payments, advances, lien releases, and loan research.
- Serve as a resource for branch and lending staff on loan operations procedures.
- Assist in balancing general ledger accounts related to loan operations.
- Support audits and regulatory examinations by preparing required reports and documentation.
- Identify opportunities to improve departmental efficiency and accuracy.
- Learn and follow all Bank policies, procedures, and compliance regulations related to loan operations.
- Provide exceptional customer service to internal and external clients.
- Participate in training to develop knowledge of loan products, systems, and processes.
- Process ACDVs and AUDs on E-Oscar.
- Backup to loan imaging & document exception tracking/reporting
- Performs other related duties as assigned by management
- Education / Qualifications / Experience
- High school diploma or equivalent required
- Banking or loan operations experience preferred.
- Basic computer and data entry skills.
- Strong attention to detail and organizational skills.
- Strong understanding of loan documentation, servicing, and compliance requirements.
- Proficiency with loan core processing systems and Microsoft Office applications.
Competencies:
Strong analytical and problem-solving skills.
Ability to work independently with minimal supervision.
Strong organizational skills with ability to manage multiple tasks.
