Position - Loan Processor
Reports to - Senior Lending Officer
Department - Loan
Employee Type - Full-Time
JOB SUMMARY
Loan Processors are responsible for managing end-to-end processing of consumer and commercial loan files, from application to closing. This process includes creation of loan documentation, reviewing completeness and accuracy of loan file, and ensuring adherence to regulatory, legal, and Bank procedural requirements. Loan Processors work closely with Loan Officers, Loan Operations, and third parties (i.e. attorney’s offices; title companies; insurance companies). The role requires a detail-oriented individual who can effectively handle complex documentation, manage competing deadlines and priorities, and communicate with external and internal parties.
ESSENTIAL FUNCTIONS
1. Process approved loan applications (consumer and commercial) in accordance with direction from Loan Officer(s), Senior Lending Officer, or Senior Credit Officer.
2. Gather and verify necessary documentation upon receipt of approved application.
3. Communicate with third parties, as needed, to request information or documentation, provide status updates, and answer questions related to the loan process.
4. Create documentation necessary to facilitate execution of loan file.
5. Ensure all required documents are accurately completed, signed, and submitted in accordance with Bank policy and regulatory requirements.
6. Enter and maintain accurate data in the Bank’s loan processing systems and ensure records accurately reflect documentation submitted.
7. Verify loan files are compliant with internal policies, regulatory requirements, and other established guidelines.
8. Identify and resolve any issues or discrepancies in the loan process, working closely with applicants, Loan Officers, operations personnel, and other stakeholders.
9. Ensure timely completion of loan transactions.
10. Maintain a thorough knowledge of all Bank products, services, procedures, policies and appropriate regulatory issues related to daily job functions.
11. Represent the Bank externally, as necessary with core vendor relationships (i.e. Jack Henry) or third parties.
12. Stay abreast of recent software changes and associated regulatory pronouncements.
13. Maintain records according to regulatory record retention requirements.
14. Prepare reports or other presentation documents as required.
15. Maintain confidentiality of customer records.
16. Noise level is generally moderate.
17. Must be able to drive and possess a current driver’s license.
18. Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.
Ø While performing the duties of this Job, the employee is regularly required to stand; sit; use hands to finger, handle, or feel objects, tools or controls; reach with hands and arms; and talk or hear. The employee is frequently required to stand and walk. The employee is occasionally required to stop, kneel or crouch. Specific vision abilities required by this job include close vision, distance vision, and ability to adjust focus.
19. Self-development: pursues additional education to improve knowledge as it relates to the position, lending compliance, and the Bank in general. Acceptable sources of continuing training and education are seminars, Industry conferences, approved e-learning courses, in-house programs, or selected vendor programs.
20. Perform other duties as assigned.
REQUIRED SKILLS
- Excellent verbal and written communication skills.
- Superior organizational skills, detail oriented.
- Strong interpersonal skills; ability to work with others.
- Good computer skills. Proficient in Microsoft office products – Word, Excel and Outlook.
- Ability to master job specific software and hardware components.
- Ability to multi-task in a fast-paced environment.
- Excellent time management skills.
EDUCATION AND EXPERIENCE
- High school diploma or general education degree (GED) required.
- Minimum of two (2) years of experience in loan processing, banking, or a related financial role.
- Strong understanding of loan processing procedures and regulatory requirements.
The above statements are intended to describe the general nature and level of work performed by people assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.
Job Type: Full-time
Pay: From $45,000.00 per year
Benefits:
- 401(k) matching
- Dental insurance
- Health insurance
- Paid time off
- Vision insurance
Work Location: In person
