BANC OF CALIFORNIA AND YOUR CAREER
Banc of California, Inc. (NYSE: BANC) is a bank holding company with over $34 billion in assets and the parent company of Banc of California. Banc of California is one of the nation’s premier relationship-based business banks, providing banking and treasury management services to small, middle market, and venture backed businesses. As the largest independent bank headquartered in California, the bank offers a broad range of loan and deposit products and services through a network of full-service branches and regional offices, as well as through digital and nationwide capabilities. The bank also provides full-service payment processing solutions to its clients and serves the Community Association Management industry nationwide through its technology forward platform, SmartStreet™. Banc of California is committed to supporting its local communities through the Banc of California Charitable Foundation and by partnering with organizations that promote financial literacy, job training, small business support, affordable housing, and more.
At Banc of California, our success is powered by our people and a shared commitment to delivering meaningful results. We foster an environment where entrepreneurial thinking is encouraged, and accountability and operational excellence are expected. Our team members are empowered to take ownership, make informed decisions, and make a meaningful impact as the bank continues to grow and evolve. We are dedicated to supporting your growth and wellbeing through comprehensive benefits, robust development opportunities, and inclusive programs that enable you to perform at your best. Together we win!
THE OPPORTUNITY
The AVP, Senior Loan Administrator, is responsible for the timely processing of loan transactions from application through funding and closing of the loan. Provides support to all loan parties and is responsible to perform all essential duties related to the collection and review of due diligence and closing and funding. Performs all duties in accordance with the company’s policies and procedures, all US state and federal laws and regulations, wherein the company operates. Performs all duties in accordance with the Company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the Company operates.
HOW YOU’LL MAKE A DIFFERENCE
- Audit loan files prepared for funding/boarding for completeness to determine that all bank requirements and guidelines have been met and that appropriate documentation were provided.
- Analyze prepared Balancing Sheet when assistance is needed to coordinate estimated funding amount with Escrow including prepaid interest for escrow transactions, request funding and boarding after satisfactory funding and boarding file reviews.
- AVP, Senior Loan Administrator collaborates closely and effectively manages expectations with client, Relationship Managers, and others on the loan team to ensure timely closing of loans
- Handle complex loans, including those involving outside legal documentation and correspondence, as well as transactions involving Syndications/Participations and Specialized Lending.
- Perform the pre-funding validation of the internal “SOX control” related to loan origination funding.
- Conduct a thorough review of the loan file/loan package to ensure it includes all relevant documentation required for the transaction. Analyze transaction types and determine necessary due diligence items and legal documents required to ensure accurate closings and compliance with bank and regulatory requirements and procedures.
- Identify any open items timely and work with appropriate parties to collect the necessary items Manage and update open items list as received and reviewed.
- Coordinate insurance needs with customers, insurance brokers, and Relationship Manager to ensure proper insurance is received and collected in a timely manner.
- Order flood certification and complete requirements according to company and regulatory requirements including but not limited to sending and receiving the flood notice from the Borrower if the loan is in a flood zone. Completing the flood calculator to ensure appropriate flood insurance is in place. Collecting and reviewing evidence of insurance to confirm coverage is in compliance with bank and regulatory requirements. May Perform final review of the flood calculator, flood determinations and flood insurance requirements for accuracy, ensuring accordance with NFIP guidelines and bank policy.
- Order preliminary/proforma title reports, exceptions, and plotted easements and survey if applicable to identify any potential issues, discuss with the Title Officer and Underwriter as to the best course of action; Request revisions directly with the title company, if any.
- Order 3rd party collateral reports such as appraisal, environmental, transaction screen assessment reports as needed. Review for potential issues and order additional reports as dictated by findings/conclusions.
- Open escrow and title as needed, coordinate to schedule closings and ensure escrow settlement is accurate prior to funding and closing on the loan.
- Review and validate entity structure and organizational documents to verify management/control. In addition to receipt of all required entity documents, AVP, Senior Loan Administrator, is responsible for obtaining additional documentation to support the review of entity documents such as the Certificate of Good Standing, Statement of Information, trust certification for applicable parties.
- Prepare lenders instruction letter when escrow is involved.
- Complete the loan closing and funding package, preparing the balancing sheet, wire(s) and final checklist to evidence the final pre-funding review requirements before funding and submitting the loan package for boarding.
- May need to assist in the perfection of collateral including but not limited to filing of UCC1 and ordering of Tax Service Contracts.
- Perform all post-closing follow up including receipt of title policy/endorsement, recorded DOT and any other collateral or trailing documentation.
- Ensure appropriate bank-controlled accounts are opened by the Business Unit and applicable holds are on the account(s).
- Respond to inquiries from customers, relationship managers and/or interdepartmental personnel concerning status of loan closing.
- Works closely with outside counsel to keep closing checklist up to date, participates on calls related to the loan closing and regular follow-up with client to make sure closing checklist items are received timely.
- Monitor loan pipeline and track progress by updating nCino Loan Admin Workflow report as needed.
- Track good faith deposits and/or rate lock expiration dates and have RM’s request extensions as necessary.
- Request payoff demands from existing lenders.
- Process withdrawn/declined transactions including preparation of balancing spreadsheet for refunds, prepare and send adverse action letter if applicable.
- Maintains a professional and courteous attitude and demonstrates a true concern for internal and external clients.
- Ensure all necessary final documents and due diligence are saved to the bank’s official document repository.
- Crosstrain junior Loan Administrators. Provide back-up support for the Loan Administration team as needed.
- Ability to work independently with minimal supervision.
- Maintain specialized knowledge of the loan boarding function, terminology, policies and procedures and may be required to perform the due diligence requirements for commercial loan purchases.
- Follow all established policies and procedures.
- Perform other duties and projects as assigned.
WHAT YOU’LL BRING
- Bachelor’s degree preferred or at least a minimum of six (6) years of commercial loan administration and financial services experience including: loan documentation preparation, loan closing and funding.
- Proficient understanding of all documents required for all borrowing entities and ability to assess if the legal documents drawn cover all necessary terms and conditions appropriate for the approved credit product.
- Low Income Housing Tax Credit (LIHTC) experience
- Familiar with IBS (or similar) loan system preferred.
- Proficient in nCino and Salesforce.
- Current knowledge of Real Estate, Construction, Commercial & Industrial (C&I), Entertainment, Specialty Lending, Asset Based Lending, and Syndicated Lending loans.
- Knowledgeable in all branch functions associated with origination, processing and closing.
- Assures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations.
- Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following: Regulation Z (Truth in Lending Act), Regulation B (Equal Credit Opportunity Act), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Bank Secrecy Act (BSA) in conjunction with the USA PATRIOT Act, Anti-Money Laundering (AML) and Customer Information Program (CIP), Right to Financial Privacy Act (RFPA, state and federal) and Community Reinvestment Act (CRA).
- Ability to exercise discretion and independent judgement has moderate impact on the immediate work unit and cross functional departments.
- Ability to make a conclusive recommendation based on independent analysis.
- Proficient knowledge of title policies and related loan regulations such as RESPA, HMDA and other Bank lending policies.
- Intermediate knowledge of commercial insurance terminology, forms, and bank requirements.
- Proficient skills in computer terminal and personal computer operation; Microsoft Office applications including but not limited to: Word, Excel, PowerPoint and Outlook.
- Intermediate math skills; calculate interest and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
- Effective organizational and time management skills.
- Exceptional oral, written and interpersonal communication skills.
- Ability to make decisions that have moderate impact on the immediate work unit and cross functional departments.
- Ability to work with little to no supervision while performing duties.
- High School diploma or equivalent required
HOW WE’LL SUPPORT YOU
- Financial Security: You will be eligible to participate in the company’s 401k plan which includes a company match and immediate vesting.
- Health & Well-Being: We offer comprehensive insurance options including medical, dental, vision, AD&D, supplemental life, long-term disability, pre-tax Health Savings Account with employer contributions, and pre-tax Flexible Spending Account (FSA).
- Building & Supporting Your Family: Banc of California partners with providers that offer adoption, surrogacy, and fertility assistance as well as paid parental leave and family support solutions including care options for your family.
- Paid Time Away: Eligible team members receive paid vacation days, holidays, and volunteer time off.
- Career Growth Opportunities: To support career growth of our team members, we offer tuition reimbursement, an annual mentorship program, leadership development resources, access to LinkedIn Learning, and more.
SALARY RANGE
The base salary ultimately offered is determined through a review of education, industry experience, training, knowledge, skills, abilities of the applicant in alignment with market data and other factors.
Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to their actual or perceived race (including traits associated with race, such as hair texture, hair type or protective hairstyles), religion or religious creed (including religious dress and grooming practices), color, sex (including pregnancy, childbirth, breastfeeding and related medical conditions), sexual orientation, gender, gender identity, gender expression, gender transitioning, citizenship status, national origin, ancestry, age, marital status, military or veteran status, medical condition, genetic information, or disability (mental or physical), requests for accommodation and any additional protected categories set forth in applicable federal, state or local laws. If you require reasonable accommodation as part of the application process, please contact Talent Acquisition.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights (https://www.eeoc.gov/poster) notice from the Department of Labor.
