Title: Commercial Real Estate Loan Associate
Department: Commercial Lending
Reports to: Chief Commercial Real Estate Officer
FLSA Status: Exempt
Location: Administration; Old Bridge, NJ
Schedule: Full time – Monday-Friday
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Position Summary
The CRE Loan Associate primarily provides support for the Small Business Lender while also assisting the Commercial Lending Department’s Loan Officers as time permits. Support includes analysis of sponsor financials, preparation of property cash flow projections, generating reports, preparing commitment letters, reviewing loan documents and securing credit documentation in an effort to successfully complete Loan due diligence. The incumbent will interact with clients, businesses, legal and senior lenders to ensure turnaround times are adhered to appropriately. The incumbent has full responsibly for maintaining final approved loan documents (files), and following up as needed to obtain additional documentation throughout the duration of the loan.
Essential Functions
· Obtain loan request information from Small Business Lender or directly from Borrower to analyze credit information, financial statements and other related information pertaining to a potential new loan or a loan extension / renewal.
· Request and review personal and business financial information and prepare preliminary analysis for Lender review.
· Prepare or assist in the preparation of loan presentations for Lender review.
· Review loan files to ensure the completeness of the file and contact Borrower to obtain updated information as needed.
· Assist Lender with Loan Closing by securing critical credit and personal client data.
· Order appraisals, flood determinations, property evaluations, and OFAC/Patriot searches.
· Work closely with Bank’s attorney to ensure all requested documentation is received for review prior to closing.
· Prepare in-house closing documents and when executed and if needed, send loan documents to be recorded.
· Work with Credit department in securing additional information from Lender on a timely basis.
· Review loan documents for CRA (Community Reinvestment Act), and follow up with necessary reporting.
· Pull, review and edit all necessary reports prior to Lender analysis (account reconciliation, due diligence deposits, 90-day extensions, Notes coming due, overdue loan payment, etc.).
· Prepare commitment letters, modification and extension letters for Loan Officer’s review.
· Ensure loan collateral documents are current and in proper order and refer to Loan Servicing team to book loans.
· Wire transfer funds or process checks if needed for closing.
· Process incoming commercial loan fees, as needed.
· Ensure all files are closed promptly upon loan repayment and any additional material is maintained for bank records.
Job Requirements
· Willingness to be accountable and take ownership of assigned roles and responsibilities.
· Using time effectively and efficiently, valuing the time of others, and concentrating efforts on important priorities and activities.
· Strict attention to details and thoroughness in the completion of job duties.
· Developing constructive and cooperative relationships with others.
· High level of coordination, organization, planning, and prioritization of work, and management of one’s own time.
· Using computers for various applications, such as database management and word processing.
Qualifications - Education and Experience
· Bachelor’s degree in Business Administration / Accounting / Finance.
· Two years’ banking / credit experience.
Knowledge, Skills, and Abilities
· Excellent financial analytical skills with sound judgment and decision making abilities.
· Working knowledge of business / personal financial statements and tax returns.
· Strong computer skills in Microsoft Windows including proficiency in Word and Excel.
· Excellent organization and communication skills with attention to detail.
· Ability to work effectively under pressure, meet critical target dates, and quickly adjust to changing priorities.
· Ability to collaborate and relate well with people, build appropriate rapport and constructive, effective relationships, and use tact and diplomacy to handle situations comfortably.
· Ability to write reports and business correspondence.
· Ability to apply common sense understanding to carry out written and verbal instructions.
· Ability to work independently with minimal supervision.
All qualified applicants will receive consideration for employment without regard to race, color, age, religion, gender, sexual orientation, gender identity, national origin, protected veteran status or disability.
Job Type: Full-time
Pay: $45,000.00 - $75,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Health insurance
- Life insurance
- Paid time off
- Parental leave
- Retirement plan
- Tuition reimbursement
- Vision insurance
Work Location: In person
