Commercial Loan Processor

Description

Position Summary: 

A Commercial Loan Processor is primarily responsible for preparing commercial loan documentation with a high level of accuracy, ensuring timely completion within established deadlines to meet and exceed customer expectations. In doing so, this position verifies adherence to bank policies, procedures, and regulatory requirements, maintaining the integrity of the commercial loan process.

A strong knowledge of Bank First’s commercial loan products including SBA programs, letters of credit, agricultural programs, and participations will be developed in this position. Attention to detail and the ability to handle multiple requests in a fast-paced environment to meet established deadlines are required.  

Responsibilities:

• Review loan requests and work closely with Business Service Representatives to collect all necessary information for the preparation of accurate loan documentation.
• Verify critical pre-closing information including legal names, ownership, signing authority, collateral lien status, and ensuring overall compliance with loan policy and government regulations.
• Balance disbursements and closing statements, confirming the inclusion of all loan fees and pre-closing costs such as appraisals, floods, and titlework.
• Develop and maintain a thorough understanding of the required documentation for advanced loan products including letters of credit, participations, swaps, various government programs, and construction financing. The ability to adapt to changes in documentation standards due to regulatory updates, audit findings or process improvement is required.
• Confirm all pre-closing documents are properly uploaded and ready to be electronically archived.
• Adhere to all federal HMDA regulations and internal bank policies regarding the reporting of commercial loan data, including determining if loans are reportable, accurately inputting required data into HMDA records within loan origination software, and verifying the accuracy of source documentation.
• Utilize attention to detail when reviewing and approving outgoing wire transfer requests to ensure accuracy and adherence to bank policy and procedures.
• Clear post-closing collateral exceptions upon verification of the receipt of required documentation.
• Onboard new construction projects by entering and maintaining project information within the construction management software.  This includes inputting all necessary project specific information and the initial setup of the budget.
• Mitigate risk during the construction draw process by verifying that all required documentation and approvals have been obtained and ensuring compliance with all bank policies and procedures prior to initiating the funds transfer for each draw request.
• Contribute to a supportive, team-oriented work environment by assisting other team members and departments as needed.
• Adhere to the bank's Code of Ethics consistently demonstrating integrity and professionalism in all tasks and in all interactions.

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Qualifications

Education/Experience/Skills:

• Associates Degree or equivalent years of experience
• 3 - 5 years of experience with commercial documents
• Proficiency in MS Word, Outlook and Excel and ability to quickly learn loan processing software is essential
• Strong time management and organization skills are required to manage multiple tasks at various stages and to adjust priorities throughout the day in order to meet strict deadlines in a fast-paced working environment