POSITION TITLE: Business Loan Assistant DEPARTMENT: Credit
REPORTS TO: SVP, Chief Operations Officer FLSA STATUS: Non-exempt
Position Description: Business Loan Assistants work closely with lending staff to support day to day activities such as relationship and contact management, coordinating the exchange of information between various groups, providing administrative support with sales packages and presentation materials, as well as managing loan documentation and account maintenance. Will complete internal forms, review various organizational documents, ensure all required documents are included in loan files, prepare loan files for closings, order, follow up and review title work for real estate transactions, handle post-closing activities, advance on lines of credit, process loan payments, advances and loan renewals; track renewals and covenants, handle titles, insurance, UCC filings, etc. Works closely with servicing department as needed, processing files to completion.
Obtain required credit and compliance documentation for assigned applications according to underwriting guidelines: borrower documentation, credit (business statements, asset information, rental histories, credit reports, etc.), and collateral documentation.
Work with third party vendors (appraisal, title, insurance, etc.) to obtain necessary documentation.
Verify and examine information for accuracy of loan application and closing documents. Works closely with servicing department as needed, processes loan files to completion.
Review files on a regular basis to ensure that progress is being made toward final loan approval in accordance with established time frames. Maintain computer system to reflect current status of all documents required for final approval, as well as tracking and processing of all loans. Keep applicable parties informed of loan status and all issues affecting loan process on a regular basis.
Maintain working knowledge of all loan programs/products offered by the Credit Union to ensure that loans conform to program requirements throughout the process.
Assists with problem-solving when issues arise that involve the successful closing of loans, to ensure timely closings. Works with underwriting and closing staff to ensure that quality of loan submissions is consistent with maintaining the efficiencies of the loan file flow.
Other duties as assigned.
All tasks are completed efficiently, in a timely manner, effectively and accurately in accordance with all regulations, established policies, standards and security procedures, meeting all loan requirements.
Demonstrated ability to understand complex documentation and verbal communications, to communicate information and requests effectively to others.
Members are served in a manner that builds strong business relationships, questions are answered accurately, courteously and promptly. Strong working relationships with management and co-workers across all departments.
EDUCATION: Associate's degree or equivalent business experience.
EXPERIENCE: Three to five years of experience related to loan documentation and lending support is preferred. Knowledge of regulations and laws related to loan documentation and fair lending.
SKILLS: Excellent verbal and written communication skills; strong math and analytical skills; attention to detail; strong interpersonal and organizational skills and ability; able to utilize computer and financial software as needed in the position. Ability to learn new systems, policies and procedures quickly.