What are the responsibilities and job description for the Loan Documentation Associate position at First Bank?
Position Summary:
The Loan Documentation Associate supports the preparation and review of in-house commercial loan documentation in accordance with loan approvals, regulatory requirements, and Bank policies and procedures. This junior-level position assists with reviewing loan requests, preparing documentation, and confirming that basic terms and conditions align with approved requirements. The individual will work under general supervision, develop knowledge of commercial loan documentation processes, and escalate questions or complex matters to more experienced team members or management. To achieve success, an individual must be able to perform each essential duty listed below with accuracy, attention to detail, and a willingness to learn loan documentation requirements.
Essential Duties & Responsibilities:
- · Prepare in-house loan documentation for new loans, extensions, renewals, and modifications under general supervision· Review loan structure for loan requests as outlined in the Presentation for Approvals (PFA) and escalate questions as needed
- · Review pre-closing checklists and documentation provided by the Loan Administrator for completeness and accuracy
- · Assist with reviewing collateral information and identifying documentation needed to support the Bank's lien position
- · Confirm that applicable formation documentation, such as Articles of Incorporation, Certificates of Formation, By-Laws, Operating Agreements, Partnership Agreements, and Certificates of Trust, is included in the loan file as applicable
- · Input information into the Compliance One Lending platform based on the Presentation for Approvals, New Loan Pre-Closing Checklist, and entity formation documents
- · Prepare legal documentation for internally prepared loan documents as directed to support commercial loan closings and compliance with applicable State Laws and Bank Policy
- · Assist with reviewing draft loan documents for accuracy and completeness, with guidance from senior team members or management
- · Provide approved loan documentation packages to the Loan Administrator and/or Relationship Manager for execution
- · Research outstanding items listed on the Collateral Exception Report as assigned
- · Any additional duties as assigned
Requirements:
- Communicate in a clear, comfortable, and confident manner.
- Work efficiently and effectively under deadlines and stress, while maintaining a professional demeanor.
- Strong time management and organizational skills.
- Problem-solving skills and having the ability to identify a problem and find a solution.
- Detail-oriented and able to focus closely on each activity and constantly find ways to finish tasks efficiently.
- Ability to analyze your workflow and identify areas to improve.
- Decision-making skills and ability to solve work-related problems quickly.
- A willingness to contribute to projects and take immediate action when an all-hands-on-deck situation arises.
- Carry out responsibilities with professionalism and respect for others in accordance with the Bank's policies.
- Proficiency with Microsoft Word, Excel, and Outlook, and the ability to navigate the Bank's computer-based systems.
Education and/or Experience
· This is a junior-level position requiring a basic understanding of loan closing processes and a willingness to develop commercial loan documentation knowledge. This individual must be able to perform essential commercial loan documentation tasks with guidance, including reviewing documentation, preparing loan documents, and confirming that terms and conditions match what was approved. One to three years' related experience is preferred.