What are the responsibilities and job description for the Commercial Real Estate Loan Associate position at Amboy Bank?
Title: Commercial Real Estate Loan Associate
Department: Commercial Lending
Reports to: Senior Commercial Loan Officer
Location: Administration Building
FLSA Status: Exempt
Schedule: Full-time; Monday - Friday
Subordinate Reports: None
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Position Summary
The CRE Loan Associate provides support to the commercial lending team; primarily assisting Senior Lending staff. The CRE Loan Associate will be responsible for financial analysis, generating reports, preparing correspondence (among 3rd parties involved in success of loan closing); working with attorney and attorney staff, and careful review of loan documents. Prepare all loan correspondence as needed between Lender and external partners to complete loan closing process.
Essential Functions
As designated by Loan Officer:
- Obtain CRE/Construction loan documentation; (i.e., credit analysis, financial statement, etc.) for Loan Officer review.
- Run business analytics at request of senior lending staff as needed to determine credit worthiness of new potential clients.
- Review client personal and business financials in preparation for further Lender analysis.
- Assist in preparation of new business, including obtaining additional information from borrower, for credit review committee meeting.
- Prepare loan commitment letters, flood insurance notifications, letter of intent deposit funds.
- Secure loan credit documentations including credit and D&B reports for Loan Officer review
- Maintain all final approved loan file correspondence, securely and accurately.
- Well organized, detail oriented and strong time management skills.
Additional Functions
- Provide needed administrative assistance to Loan Officer team as needed to ensure all files, renewals, loan contracts, etc. are timely entered into system pipeline and maintained current.
- Timely process cancelled and declined Loan Files.
- Maintain accurate and current appraisal and environmental account files (ensure account in proof).
- Work with Loan Officer preparing needed reports and documentation for Senior Management/Board of Director Loan Committee Review meetings.
Job Descriptions
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- Maintain monthly Commitments Outstanding Report.
- Review and process the approved files for all new appraisers, environmental assessors, and loan brokers.
- Work with Loan Officer learning more technical aspects of Loan closing workflow and assume delegated tasks
- Make suggestions to improve workflow for more efficient processes, including recommendations for automated processes.
- Support CRA staff with administrative tasks as assigned.
- Reconcile suspense account.
Job Requirements and Qualifications
Education and Experience
- High School Diploma (Associate degree preferred – Finance, Credit, Economics)
- Banking, math, financial certifications a plus.
Knowledge, Skills, and Abilities
- Proficient in excel and other Microsoft products
- Strong technical background in Business Data Analytics
- Proven ability to multi tasks
- Excellent listening, reading, and writing skills.
- Ability to calculate figures and amounts such as discounts, interest, commissions, and percentages. Ability to apply concepts of basic algebra.
- Ability to speak and write clearly to effectively convey information so that others understand.
- Ability to apply common sense understanding to carry out written and oral instructions.
- Ability to work independently with some supervision.
Physical Requirements
- Ability to sit for long periods of time up to 75% of work hours.
- Ability to use hands to grasp, handle or feel.
- Ability to use computer keyboard and system to enter data and process information.
- Ability to talk, listen and see.
- Ability to use telephone to communicate with customers and employees.
- Ability to lift up to 10 lbs. at least 25% of work hours.
- Ability to use office equipment such as teller scanner, personal computer, telephone, Blackberry, copier, fax machine, adding machine, etc.
Working Conditions
- Moderate sound as in business office with office machines, computers, and people traffic.
Job Type: Full-time
Pay: $55,500.00 - $75,000.00 per year
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Health insurance
- Life insurance
- Paid time off
- Parental leave
- Retirement plan
- Tuition reimbursement
- Vision insurance
Work Location: In person
Salary : $55,500 - $75,000