Loan Operations Specialist

SUMMARY:

The Loan Operations Specialist is responsible for preparing loan documentation, and booking and boarding new, renewed, and extended loans. This position also performs loan accounting duties including but not limited to processing payments, advances and adjustments.

ESSENTIAL DUTIES & RESPONSIBILITES:

Loan Documentation – 40%

• Prepares and delivers accurate, complete and compliant loan documents for new, renewed, and modified loans for both commercial and consumer transactions.
• Maintains timely and professional communications with lenders, clients, and other team members.
• Conducts due diligence of title commitments, flood determinations, insurance, and other pre-closing items.
• Archives denied loans.
• Reviews loan documentation for accuracy and completeness.
• Performs UCC searches and continuations through Capitol Lien Records.
• Processes paid notes and collateral releases.

Boarding and Booking Loans -35%

• Books and boards new loans, renewals, extensions, modifications, and letters of credit.
• Creates loan documents while ensuring accuracy.
• Inputs loans into the bank’s core system.
• Electronically archives loan documentation.
• Performs file maintenance.
• Performs quality control audits to ensure accuracy and completeness of work.

Loan Accounting – 10%

• Processes payments, advances, and adjustments on loans.
• Processes loan participation payments.
• Prepares escrow payments for property taxes, insurance, and association dues.
• Reconciles general ledger accounts.·

Loan Reporting and Compliance – 15%

• Creates, manages, and updates ticklers within the bank’s core system including recorded mortgages, final title policies, lien cards, and insurance.
• Reviews and researches credit disputes, as necessary.
• Ensure collateral liens are recorded and received.
• Assists with collateral audits.
• Prepares and reviews daily and monthly reports.
• Assists management and compliance officer with audits.

OTHER RESPONSIBILITIES:

• Assists departments throughout the bank with special projects and functions.
• Performs all job functions and interactions with fellow bank employees, customers, vendors, and prospective customers within the guidelines of the Drake Bank Mission and Core Values: Dedicated, Reliable, Authentic, Knowledgeable, and Ethical.
• Performs other duties as assigned.

EDUCATION AND EXPERIENCE:

• High School Diploma or equivalent
• Two or more years of banking experience.
• Three to Five years of loan operations experience.

KNOWLEDGE/SKILLS REQUIRED:

• Knowledge of HMDA reportable loans and loan escrows.
• Knowledge of flood insurance requirements.
• Knowledge of Commercial, SBA, Consumer and Real Estate Loans.
• Self-starter with a passion for compliance and appreciation for the rules.
• Excellent verbal and written communication skills.
• Ability to listen and speak clearly and effectively to others.
• Strong time management, attention to detail, and organizational skills with the ability to multitask.
• Ability to problem solve and work without direction.
• Ability to establish and foster strong professional relationships with both employees and external sources such as clients and vendors.
• Satisfactory skill set in using the following software applications: Microsoft Outlook, Microsoft Word, Microsoft Excel, Microsoft Teams, LaserPro, and Fiserv applications.
• Exceptional organization and follow-through; high attention to detail; clear written/verbal communication; ability to manage multiple files and deadlines; customer-service mindset.
• Identifies document gaps/errors and resolves quickly with minimal rework.
• Delivers a professional, responsive borrower experience across the loan lifecycle.

WORKING CONDITIONS, EQUIPMENT AND TOOLS USED, ENVIRONMENT and COGNITIVE /PHYSICAL DEMANDS:

• The environment for this position is a private workspace that is mostly clean and comfortable. It may include some minor annoyances such as noise, odors, drafts, etc. The individual is in a non-confined office setting in which he or she is free to move about at will.
• Ability to sit and/or stand for extended periods of time in an office setting.
• Ability to use hands and fingers to operate a keyboard and other office productivity machinery.
• Ability to lift up to 10 pounds, as necessary.
• Good organizational and time management skills.
• Effective verbal and written communication skills including use of phone, computer, speaking, listening, and presenting.
• Ability to problem solve, negotiate acceptable resolutions.
• Solid math and analytical skills.
• Computer literacy.

At Drake Bank, people come first. Our team is focused on developing relationships with our clients to build a better future.

Our team is guided by our shared values in our mission to build a better future: Dedicated, Reliable, Authentic, Knowledgeable, and Ethical. These cornerstone values allow us to serve as a trusted community partner in helping businesses and families not only succeed but thrive.

Our vision is to continue to position Drake Bank for long-term sustainability as a local, independent community bank in the Twin Cities. In the next ten years, we are positioned for considerable growth by balancing the relationship-based high-tech, high-touch focus.

Join us in building a better future!

Drake Bank provides competitive salaries and an excellent benefits package.

Drake Bank is an Equal Opportunity Employer.