About First Resource Bank
First Resource Bank (FRB) is built on three core values: providing unequalled service, having a team approach and making a positive impact in the communities we serve. By implementing these simple tenets, the organization has experienced growth and an expanding client base.
Job Summary
The AVP Loan Operations Specialist III serves as a member of the Loan Operations team responsible for the administration, servicing, documentation creation and review, boarding, maintenance, and quality control of commercial, consumer, and mortgage loan portfolios. This position possesses advanced technical expertise and independently handles complex loan transactions while ensuring compliance with bank policies, investor requirements, regulatory standards, and established service level expectations.
The Specialist III acts as a subject matter expert for loan operations processes, assists with training and mentoring staff, supports audits and examinations, and partners closely with lenders, credit administration, finance, and compliance departments.
Primary Responsibilities
Loan Boarding and Documentation
- Create, review and validate complex commercial, consumer, and real estate loan documentation.
Loan Servicing and Maintenance
Process advanced maintenance requests including:
- Interest rate changes
- Payment recalculations
- Loan restructures
- Extensions and renewals
- Adjustable rate modifications
- Participation adjustments
- Collateral substitutions
- Research and resolve complex servicing issues and customer inquiries.
- Maintain loan records throughout the life cycle of the loan.
- Monitor exceptions and ensure timely resolution.
Collateral and Insurance Administration
- Monitor collateral documentation to ensure perfection and lien position requirements are maintained.
- Review and track UCC filings, continuations, releases, and terminations.
- Ensure flood insurance, hazard insurance, and collateral protection requirements remain compliant.
- Process collateral releases and satisfactions upon loan payoff.
Quality Control and Compliance
- Perform quality assurance reviews of loan boarding and maintenance activities.
- Identify process gaps, operational risks, and recommend corrective actions.
- Ensure compliance with: bank policies and procedures, Regulation B, Regulation Z, HMDA requirements, flood regulations, Bank Secrecy Act (BSA), consumer protection regulations, and investor servicing requirements
- Support internal audits, external audits, and regulatory examinations.
Loan Accounting and Reporting
- Process complex loan transactions including principal corrections, rate adjustments, non-accrual transfers, and charge-offs as assigned.
- Reconcile loan-related general ledger accounts as assigned.
- Prepare operational, exception, and management reports as assigned.
- Assist with month-end, quarter-end, and year-end reporting activities as assigned.
- Research and resolve balancing discrepancies as assigned.
Participation Administration
- Administer purchased and sold loan participation portfolios.
- Process participation settlements and remittances.
- Maintain participation records and investor reporting.
- Ensure compliance with participation agreements.
Customer and Internal Support
- Serve as a resource for lenders, branch personnel, and credit administration staff.
- Research and resolve complex customer and operational issues.
- Coordinate with title companies, investors, and third-party vendors as needed.
- Respond to requests within established service standards.
Leadership and Training
- Serve as a subject matter expert for loan operations systems and procedures.
- Provide training, coaching, and guidance to Loan Operations Specialists I and II.
- Assist management with procedure development and workflow improvements.
- Participate in system upgrades, testing, and implementation projects.
- Lead special projects and process improvement initiatives.
- Accurately board new loans, modifications, renewals, extensions, assumptions, lease, and participation transactions.
- Verify loan terms, rates, payment schedules, collateral information, and covenant requirements.
- Ensure loan documentation complies with approved credit authorizations and closing packages.
- Review system-generated disclosures and notices for accuracy.
Required Qualifications
Experience
- 5-8 years of progressively responsible loan operations experience.
Knowledge, Skills, and Abilities
- Comprehensive understanding of loan documentation and servicing processes.
- Strong understanding of banking regulations and compliance requirements.
- Strong analytical, problem-solving, and decision-making skills.
- Excellent attention to detail and a high degree of accuracy in document preparation and review.
- Ability to manage and prioritize multiple tasks while meeting deadlines in a fast-paced environment.
- Ability to communicate effectively and professionally with customers. Lenders, attorneys, title companies and third parties.
- Ability to work independently while collaborating effectively within a team environment.
- Demonstrated ability to assist with training and mentoring other processors.
- Advanced knowledge of commercial, consumer, agricultural, and residential loan servicing.
- Experience with core banking and loan servicing systems.
- Demonstrated experience handling complex loan transactions and documentation.
Preferred Qualifications
- Advanced experience with participation and loan servicing.
- Experience supporting regulatory exams and audits.
- Project management or process improvement experience.
First Resource Bank is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, national origin, veteran or disability status.
Pay: $60,000.00 - $100,000.00 per year
Work Location: In person
