Job Description
Description
POSITION SUMMARY
Commercial Loan Specialist works directly with Loan Officers to compile necessary information to accurately and efficiently underwrite, establish, and collateralize complete quality loans for Central Bank. Serves as a liaison between the Central Bank Loan Officers, Loan Operations, and the customer when questions arise regarding documentation, impending loans, loan advances, payments, and payoffs.
Essential Duties And Responsibilities
The essential functions include, but are not limited to the following:
Loan Administration 45%
• Compile necessary documentation to complete loan underwriting and processing.
• Initialize customer files and begin requesting and researching necessary documentation to input.
• Request loan documentation through software or third-party vendors including but not limited to; ordering appraisals, releasing collateral, obtaining title work, all of which may have required time-frames and notifications.
• Complete construction draws and lien waiver reconciliation.
• Review customer files to ensure proper documentation has been obtained; including but not limited to, Beneficial Ownership, Customer Identification Program, Entity documentation, Credit Bureau, Disclosures, Security Agreements, Real Estate Mortgages, UCC Filings, Flood Certifications, HMDA, Insurance, Joint Intent, OFAC, Real Estate Taxes.
• Present completed Commercial Loan Checklist & loan package to Gatekeeper for underwriting and Credit approval.
Loan Officer Collaboration 25%
• Collaborate with loan officers on new loans, refinances, and modifications to determine best structure and how to collateralize properly and perfect our lien.
• Notify Loan Officer of any deficiencies.
• Manage closing calendar to schedule, coordinate, and complete loan closings efficiently.
• Assist with Loan Denials, Commercial Loan Checklists, and tickler account management.
Data Management 20%
• Compile data regarding upcoming maturities, past dues, and exceptions. Obtain necessary documentation and consult Commercial Loan Officer when needed.
• Verify all file documentation has been obtained, is in our computer system, and is properly signed with renewal information and expiration dates set appropriately.
Customer Interaction 5%
• Request and communicate with customers, accountants, and attorneys regarding questions on financials, business structure and other essential documentation.
• Respond to customer with loan approvals and denials, as assigned.
• Respond sensitively to the needs and priorities of internal and external customers. Recognize and take appropriate action to meet their needs in a timely manner and establish an effective working relationship to gain their respect and loyalty.
• Consistently follow up and follow through for customers and teammates.
Loan Document Preparation 5%
• Complete upfront quality control analysis using a checklist to verify all loan requirements have been met.
• Request Loan Closing Documents upon completion of pre-close process and appropriate approval.
• Calculate appropriate closing costs and fees.
• Perform all other duties as assigned.
Requirements
EDUCATION & EXPERIENCE
• Associates degree required or equivalent work experience
• Minimum of two (2) years of experience in similar job duties
Central Bank is an Affirmative Action and Equal Opportunity Employer, drug free workplace, and complies with ADA regulations as applicable.
POSITION SUMMARY
Commercial Loan Specialist works directly with Loan Officers to compile necessary information to accurately and efficiently underwrite, establish, and collateralize complete quality loans for Central Bank. Serves as a liaison between the Central Bank Loan Officers, Loan Operations, and the customer when questions arise regarding documentation, impending loans, loan advances, payments, and payoffs.
Essential Duties And Responsibilities
The essential functions include, but are not limited to the following:
Loan Administration 45%
• Compile necessary documentation to complete loan underwriting and processing.
• Initialize customer files and begin requesting and researching necessary documentation to input.
• Request loan documentation through software or third-party vendors including but not limited to; ordering appraisals, releasing collateral, obtaining title work, all of which may have required time-frames and notifications.
• Complete construction draws and lien waiver reconciliation.
• Review customer files to ensure proper documentation has been obtained; including but not limited to, Beneficial Ownership, Customer Identification Program, Entity documentation, Credit Bureau, Disclosures, Security Agreements, Real Estate Mortgages, UCC Filings, Flood Certifications, HMDA, Insurance, Joint Intent, OFAC, Real Estate Taxes.
• Present completed Commercial Loan Checklist & loan package to Gatekeeper for underwriting and Credit approval.
Loan Officer Collaboration 25%
• Collaborate with loan officers on new loans, refinances, and modifications to determine best structure and how to collateralize properly and perfect our lien.
• Notify Loan Officer of any deficiencies.
• Manage closing calendar to schedule, coordinate, and complete loan closings efficiently.
• Assist with Loan Denials, Commercial Loan Checklists, and tickler account management.
Data Management 20%
• Compile data regarding upcoming maturities, past dues, and exceptions. Obtain necessary documentation and consult Commercial Loan Officer when needed.
• Verify all file documentation has been obtained, is in our computer system, and is properly signed with renewal information and expiration dates set appropriately.
Customer Interaction 5%
• Request and communicate with customers, accountants, and attorneys regarding questions on financials, business structure and other essential documentation.
• Respond to customer with loan approvals and denials, as assigned.
• Respond sensitively to the needs and priorities of internal and external customers. Recognize and take appropriate action to meet their needs in a timely manner and establish an effective working relationship to gain their respect and loyalty.
• Consistently follow up and follow through for customers and teammates.
Loan Document Preparation 5%
• Complete upfront quality control analysis using a checklist to verify all loan requirements have been met.
• Request Loan Closing Documents upon completion of pre-close process and appropriate approval.
• Calculate appropriate closing costs and fees.
• Perform all other duties as assigned.
Requirements
EDUCATION & EXPERIENCE
• Associates degree required or equivalent work experience
• Minimum of two (2) years of experience in similar job duties
Central Bank is an Affirmative Action and Equal Opportunity Employer, drug free workplace, and complies with ADA regulations as applicable.
💡 Quick Summary
Seeking a career-building opportunity? The Commercial Loan Specialist I position is now open for candidates interested in the Bank Jobs sector. This role in Storm Lake offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
