What are the responsibilities and job description for the Loan Operations Manager position at Investar Bank National As?
Job Function –
Leads the effective and efficient operation of Loan Operations activities in assigned areas (Loan Documentation, Closing, Booking, Servicing, Imaging, Credit and Collateral File Maintenance), and has direct responsibility for development/administration of the budget. Confirms/verifies the work of subordinates. Works special projects as assigned by the CEO.
Job Responsibilities –
Ensures that loans and renewals are closed in compliance with the Bank's loan policy and in compliance with any other requirements designated by the credit approval authority.
Supports loan officers by communicating with customers, attorneys, appraisers, insurance agents, etc. to coordinate the details of loan closings.
Supports and assists Loan Operations personnel in identifying and clearing all Collateral Exceptions within appropriate time periods.
Collaborated with lending officers to ensure their portfolios are free of delinquencies at each month end.
Continuously monitors assigned accounts to ensure that any information (i.e. insurance, taxes, appraisals) required under the loan documents is current.
Assists other Loan Operations staff in reviewing loan documents drafted by outside counsel, for all loans, to ensure that the documents comply with the requirements of the appropriate credit approval authority.
Assists Loan Operations personnel in reviewing files for all loans and identify any existing collateral defects.
Independently and accurately creates documentation to close small commercial loans, simple real estate loans and all consumer loans without the assistance of counsel.
Accurately handles the recordation and re-inscription of the Bank's liens for loans to provide continual perfection of the Bank's collateral.
Achieves expertise in reviewing loan agreements and other complex documents that are drafted by outside counsel, to ensure that the documents satisfy the requirements of the credit approval authority.
Drafts preliminary waivers of loan agreements, amendments to loan agreements, and other various agreements, as requested by Lenders.
Handles the execution of partial releases, subordination of liens, etc.
Reviews title commitments and surveys to ensure that the commitment is satisfactory and does not contain any exceptions that are unacceptable to the Bank.
Ensures all department policies and procedures are up-to-date in accordance with current banking regulations and adhered to by all department staff.
Provides for the safekeeping, maintenance and warehousing of original promissory notes and collateral.
Tracks outstanding documentation exceptions and critical dates.
Coordinates the timely release of promissory notes and collateral for paid out loans.
Manages disbursement of funds for the various types of loan closings and supervise post-closing document reviews, and the booking of these loans.
Controls the coding and setup of all loans on the loan system(s).
Assists in perfecting any pledges to the Federal Reserve Bank.
Generates timely escrow payments and fulfill other servicing requirements for the conventional mortgage portfolio.
Supervises and manage the bank's accounting and reconcilement processes for Loan Operations.
Ensures that own work is in compliance with all applicable laws, regulations, policies and guidelines.
All other duties as assigned.
Education and Related Experience –
- Bachelor’s degree, notarial commission, paralegal certificate or equivalent work experience
- 7 years equivalent experience as a manager of employees who originate or review loan documentation or perform loan operation functions for a financial institution
Skills and Abilities –
- Through understanding of PC based word processing and spreadsheet software.
- Understanding of PC applications
- Thorough understanding of the Laser Pro System
- Extensive knowledge of loan processing/booking
- Thorough understanding of the principles governing loan documentation and the perfection of security interests
- Excellent staff management skills
- Ability to gather and analyze data to reach a decision to resolve any issues
- Ability to quickly learn new skills
- Good organizational/planning skills
- Ability to effectively manage time
- Independent and sell motivated
- Detail oriented
- Good verbal and written communication skills
- Good analytical skills
- Excellent interpersonal skills
- Excellent customer service skills
Working Conditions and/or Physical Requirements –
- Ability to work under stress and meet deadlines.
- Ability to operate a keyboard if required performing the essential job functions.
- Ability to read and interpret a document.
- Ability to travel if required to perform the essential job functions.
- Ability to lift/move/carry approximately 20 pounds if required to perform the essential job functions. If the employee is unable to lift/move/carry this weight and can be accommodated without causing the department an “undue hardship” then the employee must be accommodated; hence, omitting lifting as a physical requirement.
Equal Opportunity Employer/Veterans/Disabled