Loan Operations Specialist

Loan Operations Specialist

Employment Type: Full-Time

Classification: Non-Exempt

Position Overview

The client is seeking a detail-oriented Loan Operations Specialist to support daily activities within the Loan Operations Department and provide operational assistance to lending teams across multiple banking locations.

This role is responsible for reviewing loan documentation, preparing and processing loan transactions, maintaining accurate loan records, coordinating funding activities, and ensuring compliance with applicable banking regulations and internal policies. The position also includes managing complex Small Business Administration (SBA) loan closings from credit approval through final funding.

The successful candidate will demonstrate strong organizational skills, attention to detail, sound judgment, effective communication, and the ability to manage multiple responsibilities while maintaining accuracy and compliance.

Key Responsibilities

Loan Operations and Administration

• Review incoming direct loan transactions to confirm that all required financial records, supporting documentation, disclosures, approvals, and authorizations are complete and accurate. Verify applicable interest rates, fees, and disbursement amounts.
• Prepare and generate loan documents through the applicable loan processing platform and verify the accuracy of documents prepared outside the system.
• Enter approved loans into the bank's core processing system and verify the accuracy of loan entries in accordance with dual-control procedures.
• Review, approve, and record funding transactions associated with real estate closings and construction draws.
• Conduct post-closing reviews and maintain loan records to ensure that loan terms, codes, and other details accurately reflect the approved terms.
• Process loan payments and incoming correspondence, and monitor insurance, collateral, and other loan-related items received by the department.
• Prepare daily, monthly, and quarterly reports as needed. Maintain loan notes, credit records, collateral files, and supporting documentation within the document management system. Establish and track exceptions when necessary.
• Complete required system updates and entries for loan charge-offs or non-accrual classifications following approval by the Board of Directors.
• Investigate loan-related discrepancies and resolve issues by correcting documentation or making appropriate updates within the core banking system.
• Respond to inquiries from internal banking personnel and assist with loan-related operational issues. When branch lending personnel are unavailable, occasionally communicate directly with customers to address immediate concerns when possible.
• Order and maintain records of flood certificates, credit reports, and other supporting reports as requested.
• Monitor and distribute mortgage escrow payments as required. Complete and distribute annual escrow analyses accurately.
• Assist the Loan Operations Department Manager with responses to credit disputes under the Fair Credit Reporting Act (FCRA), including handling disputes through the E-Oscar system.
• Assist with reviewing daily loan account reconciliations and resolve discrepancies or coordinate corrections with the appropriate personnel to clear general ledger accounts.
• Ensure loan operations processes, documentation, and departmental activities comply with applicable regulations, approved bank policies, and established procedures.
• Complete assigned training and professional development activities within required timeframes.
• Maintain consistent and predictable attendance.
• Perform other assigned duties and provide support to other departments when needed.

SBA Loan Closing Responsibilities

• Manage complex SBA loan closings from credit approval through funding. Transactions may include acquisitions, construction financing, commercial real estate, refinances, business start-ups, and Rollovers as Business Start-ups (ROBS).
• Prepare and review SBA loan closing documents, including promissory notes, guarantees, security agreements, Uniform Commercial Code (UCC) filings, appraisals, environmental reports, and construction-related documentation.
• Develop borrower closing checklists and conduct kickoff calls to communicate timelines, documentation requirements, and responsibilities to all parties involved.
• Ensure compliance with applicable SBA Standard Operating Procedures (SOPs), including requirements for SBA 7(a), 504, and Express loan programs. Update Material Change Forms when required.
• Coordinate funding activities, including preparation of disbursement instructions, wire transfers, and payment of SBA guaranty fees.
• Maintain electronic loan files and upload or scan documentation into the applicable loan origination system.
• Identify and resolve compliance exceptions and complete post-closing reviews to confirm that all requirements have been satisfied.
• Manage the SBA loan closing pipeline and ensure compliance with SBA guidelines, regulatory requirements, including Bank Secrecy Act (BSA), Anti-Money Laundering (AML), and Customer Identification Program (CIP) requirements, as well as internal bank policies.
• Request, review, and evaluate third-party reports, including appraisals, environmental assessments, and title searches. Prepare or review closing documents drafted by legal counsel.
• Coordinate with borrowers, attorneys, and internal banking teams to satisfy approval conditions, execute required loan documents, and complete funding.
• Independently investigate and resolve complex closing issues and negotiate extensions when necessary.
• Provide guidance and support to junior loan closers, assist with training, and contribute to the development of departmental processes and procedures.
• Maintain advanced working knowledge of SBA operating procedures, legal loan documentation, and loan structuring requirements.

Required Qualifications and Experience

• A minimum of five years of experience working in bank operations, with demonstrated experience in loan-related functions, is required.
• At least five years of SBA loan closing experience is preferred.
• Advanced computer proficiency, including Microsoft Excel, Microsoft Word, and other software applications used by lending departments.
• Ability to operate standard office equipment, including computers, calculators, copiers, and fax machines.
• High school diploma or equivalent is preferred as the stated educational qualification.

Skills and Competencies

The ideal candidate will demonstrate:

• Strong organizational skills and exceptional attention to detail.
• Effective written and verbal communication skills in English.
• Sound reasoning and problem-solving abilities, including the ability to interpret written and verbal instructions and address issues involving multiple variables within established procedures.
• Strong written communication skills, including the ability to prepare reports and other documents with appropriate grammar, spelling, punctuation, and formatting.
• Basic mathematical proficiency, including addition, subtraction, multiplication, and division.
• The ability to follow instructions, maintain established standards, and complete assignments accurately and within required timelines.
• A commitment to following banking policies, procedures, and regulatory requirements.
• The ability to maintain cooperative and productive working relationships with colleagues.
• The ability to manage assigned responsibilities under regular supervision from the Loan Operations Department Manager.

Physical Requirements

The position involves primarily office-based work and requires the following physical capabilities:

• Sitting: Required for approximately 66%–100% of the workday.
• Standing and walking: Occasionally required, approximately 1%–33% of the time.
• Bending, stooping, or squatting: Frequently required, approximately 33%–66% of the time.
• Pushing or pulling: Occasionally required.
• Reaching above shoulder level: Occasionally required.
• Climbing stairs, climbing ladders, lying down, and operating equipment: Rarely required.
• Grasping or gripping: Rarely required.
• Finger dexterity and typing or writing: Required for approximately 66%–100% of the workday.
• Lifting and carrying: Frequently required for items weighing less than 10 pounds. Occasionally required for items weighing 10–25 pounds and 26–50 pounds. Lifting or carrying items weighing more than 50 pounds is rarely required.

Vision, Hearing, and Communication Requirements

• Ability to consistently see fine details and objects beyond arm's length.
• Ability to hear and communicate effectively with colleagues and other parties.
• Ability to speak clearly and communicate effectively throughout the workday.
• Strong eye-hand-foot coordination.

Work Environment

• Primarily works indoors, approximately 66%–100% of the time.
• Outdoor work and exposure to fumes, chemicals, solvents, or extreme temperatures are rarely required.
• Working in confined spaces may be required frequently, approximately 33%–66% of the time.

Additional Expectations

The successful candidate must demonstrate strong organizational capabilities, effective English communication skills, attention to detail, and the ability to meet the operational and regulatory requirements of the position.

The role requires consistent attendance, timely completion of assigned responsibilities, adherence to established procedures, and a cooperative approach to supporting the Loan Operations Department and other banking teams.