Commercial Loan Processor - Ludington, United States - West Shore Bank

Description

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GENERAL SUMMARY

The Processor will work as part of the overall commercial lending and credit administration teams to administer and maintain the commercial loan portfolio, be a point of contact with commercial lenders, borrowers, and third-party providers to provide customer assistance, ensure proper documentation of commercial loan files, and perform routine clerical and administrative work, along with the preparation of required reporting.

SKILLS

• Work independently with mínimal supervision in a team environment and demonstrate the initiative to assume additional responsibility
• Strong verbal and written communication skills
• Effective interpersonal skills
• Ability to prioritize and meet deadlines
• Sound judgment and critical thinking skills
• Strong attention to detail and accuracy

ESSENTIAL DUTIES AND RESPONSIBILITIES

Commercial Loan Files & Documentation Preparation:

• Prepare documentation for new, modified and renewed commercial loans of all types working directly with lenders as files are assigned by Commercial Loan Administration Supervisor
• Work closely with lenders upon assignment of approved loan presentation to begin the process of preparing the loan, including ordering of title work, evidence of insurance, flood zone certification, etc.
• Support loan process by communicating with attorneys, appraisers, insurance agents, title companies, and other third parties to coordinate the details of loan transactions
• Ensure that loan covenants are properly documented, and exceptions are accurately identified prior to funding
• Work with other commercial loan staff to ensure that a preclosing review of prepared documentation is completed, and all documents are correct and accurate prior to releasing documents to lender for the lender to review prior to closing.
• Book commercial loans upon closing and receipt of all associated documentation; Coordinate funding, perform postclosing file review and ensure perfection of liens on collateral
• Follow up on completed loans to ensure all documentation is received and recorded
• Maintain commercial loan documentation files in the standard format, including electronic imaging
• Work with the Commercial Loan Administration Supervisor on special projects and specific requests.
• Ensure that work is performed in accordance with all banking regulations and the Bank's policies and procedures

Commercial Lender & Customer Assistance:

• Payment and payoff processing.
• Provide assistance with answers and explanations related to loan billing questions
• Provide assistance to Commercial Lenders with answers and explanations for customer related requests
• Complete customer and loan file maintenance on the loan information system to ensure accurate and up to date reporting is available.
• Provide assistance to customers and lending staff as needed.
• Work with other commercial loan staff to provide a check of all file maintenance entered in the system.

Clerical & Administrative:

• Complete maintenance of records on Floor Plan Loans
• For construction loans, responsible for the draw process including monitoring, followup with Title Company, contractor and officer, and processing draws according to Bank policy.
• Prepare daily, monthly and quarterly reports as assigned or requested.
• Crosstrain with other members of the commercial loan department to provide thorough understanding of entire set of responsibilities and procedures.
• Assist with monitoring, tracking and reporting on loan documentation, and loan approval exceptions.
• Assist with Escrow payments and analysis (twice / year) as directed by Supervisor
• Forced place insurance maintenance
• Perform other tasks requested by supervisor as they relate to the Bank and its functions.

OVERALL PERFORMANCE REQUIREMENTS
The six Principles of Success are part of the employee's performance expectations at every level of the Bank. The "Principles" are intended to encourage a culture of accountability, pride, loyalty and enthusiasm. The first step in being successful is to be aware of the expectations and then to live the expectations.


1.
Embrace and Drive a Culture of Change

• Support and encourage new ideas.
• Generate solutions and make informed decisions.

2.
Act as a Valuable & Enthusiastic Team Member

• Recognize the importance of teamwork to achieve objectives.
• Communicate openly and confidently.
• Influence and convince others in a way that results in acceptance and agreement.
• Bring in ideas, information, suggestions and expertise from others inside your immediate team and in other departments.
• Build strong team relationships through mutual trust and accountability.
• Work in unity to improve our knowledge and skills.

3.
Focus on the Customer Experience to Build Loyalty

• Cultivate relationships.
• Make an emotional connection

- focus on the relationship, not the transaction.

• Provide advice and help on WSB products