The Loan Operations Specialist is responsible for booking new loans, renewing loans, and posting monetary transactions on the loan system. Monitors system generated reports, customer bills/statements, and real estate loan portfolio insurance and escrow payments. Cross-trained to perform the job duties and responsibilities of the Loan Documentation Specialist as necessary.
Minimum Job Requirements
- High School degree and equivalent work experience. College degree in related business field preferred.
- Minimum five years of experience in loan operations with knowledge of loan documentation, insurance requirements, escrow processing, and banking regulations.
- Excellent verbal and written communication skills.
- Excellent interpersonal, organizational, and analytical skills.
- Knowledge of financial services and regulatory compliance: Know Your Customer, Customer Identification Program, BSA/Anti-money Laundering, and OFAC.
- Excellent follow-up skills.
- Proficient in use of the Internet.
- Proficient in Microsoft programs: Outlook, Excel and Word
- Proficient in banking software: BancPac, Vision, Co-Pilot, iDoc, and iCheck
- Contributes to building a positive team spirit; supports everyone’s effort to succeed.
- Commitment to the Bank’s customer service staff members’ promise.
- Adherence to Sunstate Bank’s attendance and punctuality policies.
- Adherence to Sunstate Bank’s Code of Ethics, Policies and Procedures
- Adherence to Sunstate Bank’s regulatory and compliance training program.
- Flexibility to work in any location within the Sunstate Bank system and on Saturdays according to branch schedules.
- May require bilingual skills (English/Spanish) in certain instances.
Essential Job Duties and Responsibilities
- Identifies and inputs on the BancPac loan system all new and renewed loans.
- Performs loan maintenance on the BancPac loan system.
- Performs loan pay-offs, charge-offs, partial charge-offs, and participation sold/bought on the BancPac loan system.
- Performs loan system posting of loan disbursements and advances, and any other requirement monitory transaction.
- Prints on a daily basis all system generated reports, notices, and billing statements.
- Reviews daily and monthly system generated reports for accuracy (new loans, modification, loan renewals, payment exception reports, participations, etc.)
- Weekly reviews the insurance exception tracking reports generated by Overby-Seawell.
- Reviews for accuracy, scans and transmits on a daily basis all insurance renewals and cancellation notices to Overby-Seawell.
- Reviews for accuracy customer billing statements.
- Reviews system reports to ensure that posted payments, ACH payments, and auto payments are correctly posted.
- Responsible for remitting and collecting payments on participations sold/bought.
- Responsible for the annual generation of escrow analysis.
- Responsible for generating insurance and tax payments for escrowed loans.
- Responsible for generating escrow analysis refunds.
- Responsible for responding on eOscar inquiries.
- Performs daily and monthly reconciliation of general ledger, unposted, suspense, and escrow disbursement account reconciliations.
- Prepares estoppel letters.
- Remits documentary stamp tax payments.
- Establishes and monitors ticklers for periodic interest rate changes on ARM and CD loans.
- Prepares departmental reports for meetings.
- Scans loan underwriting and closing documents on iDoc.
- On a daily basis file work in the appropriate credit or department file.
- Promptly responds to customer inquires.
- Work on special projects as assigned by the Loan Operations Manager.
- May perform other duties and responsibilities as needed and requested by Bank management including Branch Customer Service functions.
