What are the responsibilities and job description for the Loan Operations Specialist position at First Northern Bank?
What You’ll Do
This position is responsible for supporting and overseeing the administrative and processing tasks related to the entire lifecycle of a loan, from application to payoff. They ensure all loan activities are processed accurately, timely, and in compliance with internal policies and federal/state regulations. The role is an integral part of the lending process, ensuring a smooth and accurate experience for both customers and internal staff.
Responsibilities Include
The purpose of this job description is to provide a summary of duties related to the position. It is not intended to be all-inclusive. The employee will perform other reasonable business duties as assigned by supervisor or other management.
First Northern Bank does not discriminate based on race, color, religions, sex, gender identity, age, national origin, marital status, pregnancy, disability, or any other protected status.
The duties outlined in this description are subject to modification or change by the organization, at any time, with or without notice.
This position is responsible for supporting and overseeing the administrative and processing tasks related to the entire lifecycle of a loan, from application to payoff. They ensure all loan activities are processed accurately, timely, and in compliance with internal policies and federal/state regulations. The role is an integral part of the lending process, ensuring a smooth and accurate experience for both customers and internal staff.
Responsibilities Include
- Loan Processing & Documentation: Reviewing loan files for completeness and accuracy, preparing loan packages and documents (e.g., using LaserPro software), inputting data into core systems (Fiserv, F.I.S.), and ensuring proper and timely execution.
- Customer Service: Acting as a secondary point of contact for borrowers and a primary point of contact for colleagues, answering inquiries, and resolving issues related to the lifecycle of a loan, promptly and professionally.
- Collateral & Compliance: Collecting title work and insurance for adequacy; perfecting liens (UCC filings, titles); and ensuring all documentation meets regulatory guidelines (e.g., HMDA, CRA, Flood).
- Financial Transactions & Servicing: Processing loan payments, disbursements of funds, payoffs, and draw requests, as well as managing escrow accounts to track and pay for insurance and property taxes, and balancing general ledger accounts.
- Reporting & Auditing: Maintaining accurate electronic and hard copy files, tracking exceptions (missing documentation), preparing various reports for management, 3rd parties (e.g., Freddie Mac) or auditors, and assisting with internal/external audits as requested.
- Process Improvement: Identifying and recommending improvements to loan operation systems and procedures to enhance efficiency and productivity.
- Communication – well-developed verbal/written communication skills and interpersonal skills; ability to speak, read, write and understand English well
- Accuracy and Thoroughness – strong attention to detail with the ability to work efficiently and accurately
- Time Management – excellent organizational skills, including ability to prioritize to meet deadlines; ability to work under deadlines and perform highly detailed work on multiple, concurrent tasks
- Judgement and Discretion – ability to exercise independent judgment in decision making and to maintain confidentiality of customer information
- Professionalism – ability to represent the Bank in a professional, positive manner
- Analytical Skills – ability to analyze and solve problems
- Collaboration – ability to work effectively with different level of staff and departments within the First Northern Bank team
- Ambition – ability and willingness to learn and apply new information or skills
- Compliance – consistently adhere to Bank policies and regulations, reinforce training to ensure that Bank employees are aware of UDAAP and do not harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice
- A high school diploma or equivalent is required
- Associate degree in finance, Business, or a related field preferred. or equivalent work experience in a similar position
- A minimum of 4 years of experience in loan operations, processing, or banking Required.
- Thorough knowledge of loan products, loan servicing and policies and procedures is required
- Experience with property and liability insurance practices and regulations and escrow disbursement practices preferred
- Good working knowledge of Microsoft Outlook, Excel, Word with the ability and willingness to learn new programs and software
- Experience with Fiserv Premier Navigator software, F.I.S. Horizon Software, Imaging and Director software and Laser Pro loan documentation software a plus
- Experience with Investor reporting and Secondary markets
- Experience with Freddie Mac loan level reporting and Electronic Default Reporting, a plus
- Full-time position with excellent compensation and benefits package
- Generous time off programs
- Bonus program
- Profit-sharing
- Discounted stock purchase program
- Excellent growth and development opportunities
- And much more!
The purpose of this job description is to provide a summary of duties related to the position. It is not intended to be all-inclusive. The employee will perform other reasonable business duties as assigned by supervisor or other management.
First Northern Bank does not discriminate based on race, color, religions, sex, gender identity, age, national origin, marital status, pregnancy, disability, or any other protected status.
The duties outlined in this description are subject to modification or change by the organization, at any time, with or without notice.
Salary : $27 - $30