What are the responsibilities and job description for the Loan Administration Manager position at New Omni Bank N A?
Seniority Level: Mid-Senior Level
Employment Type: Full Time
Salary: $90,000 to $135,000 a year. Exact compensation may vary based on experience, skills, knowledge, and education.
Benefits: Medical, vision, dental, and life insurance, generous sick days, vacation days, and holidays, 401(k) company matching, potential for discretionary bonus.
Join Our Team, Shape Your Future
At New Omni Bank, we believe in the power of talent and innovation to drive success. As a dynamic and forward-thinking financial institution, we’re always on the lookout for individuals who share our passion for excellence and are ready to make a meaningful impact.
About New Omni Bank
We were founded in 1980 on a simple idea of helping our neighbors—a community of immigrants in Los Angeles, coming from diverse backgrounds, finding it hard to get precise banking solutions for their unique needs.
For over four decades of creativity, innovative thinking, and above all – attentiveness, are the hallmarks of our services. Coupled with our extensive network and on-the-ground expertise, we’ve been the catalyst for countless clients, guiding them to grow and thrive in California, across the Pacific, and at every twist and turn. Our legacy of empowerment is proven by continuous recognitions, like a 5-Star Rating from BauerFinancial, Inc. for over 40 quarters.
Position Summary
The Loan Administration Manager oversees loan administration and servicing function for the Bank’s commercial and consumer loan portfolio once a credit has been approved. This role manages the team responsible for loan documentation, closing coordination, loan boarding, and ongoing servicing and applicable monitoring through final payoff. The Loan Administration Manager leads a team to ensure that all loan documentation, system boarding, and servicing and applicable monitoring activities are completed accurately, efficiently, and in compliance with bank policies and regulatory requirements.
Supervisory responsibilities
This position is a management role with direct supervision of employees within the Loan Administration team. It involves supervisory responsibilities including maintaining procedures and workflows to improve operational efficiency and accuracy, providing training and guidance on loan systems, documentation standards, and servicing processing, monitoring team performance and workload distribution, process improvement, identifying opportunities to improve loan administration workflows and system utilization, completing performance evaluations, and making hiring recommendations.
Essential Job Functions and Responsibilities
(Duties not limited to those provided here):
Loan Documentation & Closing
- Managing the preparation and review of all necessary loan documentation that properly reflect the terms and conditions in the credit approval report using LaserPro for commercial, construction, and CRE loans and letters of credit and using DocMagic for consumer loans, including residential mortgage, HELOCs, and auto loans.
- Working with legal counsel on loan documentation, as appropriate.
- Managing the team to ensure that loan documentation complies with approved credit terms, internal policies, and regulatory requirements.
- Leads closing coordination, including collection of required documentation, collateral perfection, and verification of closing conditions, in partnership with loan officers.
- Ensures proper execution and completeness of loan packages prior to funding.
Loan Boarding & System Administration
- Supervises accurate and timely loan boarding of each loan on the core system.
- Ensures proper setup of loan terms including rate structures, payment schedules, escrow requirements, and collateral codes.
- Monitors data integrity and accuracy within the loan system to support downstream servicing and reporting. Works closely with the Accounting department to ensure daily reconciliation.
- Completes monthly and quarterly GL certification.
- Completes regular review of related reports, including but not limited to past dues, file maintenance, posted transactions and exceptions, loan funding, property tax payments, insurance maturities, and UCC follow up.
Documentation Control
- Ensures collateral is properly perfected and documented, including filing and tracking of UCCs, deeds of trust/mortgage, and other security instruments.
- Oversees document imaging is properly stored and retained according to the bank’s policies.
Loan Servicing & Portfolio Support
- Oversees ongoing servicing of the loan portfolio from booking through payoff.
- Manages the team to ensure proper and accurate processing including but not limited to loan ticklers, payment processing and adjustments, escrow administration, rate changes and modifications, extensions, renewals, changes in loan terms, addresses changes, payment changes, property tax escrow disbursements, loan advances and draw processing, non-accrual and late payment processing, notice of default and/or foreclosure, year-end processing and tax forms, payoff calculations and processing
- Address documentation exceptions and track resolutions.
- Oversees timely responses to internal and external servicing related requests.
Compliance & Risk Management
- Ensures loan documentation and servicing activities comply with applicable banking regulations and internal credit policies.
- Support internal and external audits, regulatory examinations, and loan review
- Joins occasional task forces for enterprise risk management,
- Comply with and adhere to all applicable regulatory requirements, policies, and procedures, complete assigned ongoing training and ensure direct reports complete all ongoing training.
Qualifications:
- At least 7 years of banking experience with significant experience in loan operations, loan administration, or loan servicing supporting commercial loans and at least 2 years of experience using Laserpro required.
- Bachelor's degree in finance, business administration, accounting or a related field required.
- 3 years of supervisory or management experience preferred.
Key Competencies:
- Strong leadership and demonstrated ability to lead a team
- Attention to detail and accuracy
- Problem-solving and process improvement mindset
- Strong organization and communication skills
- Ability to manage multiple priorities
Physical Demands
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to use hands or fingers, handle, or feel and reach with hands and arms. The employee frequently is required to walk, stand, sit, climb, or balance, and talk or hear. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, and ability to adjust focus. The employee may be required to work at other locations of the Bank.
The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities, or physical requirements. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
New Omni Bank, National Association’s policy is to provide equal employment opportunities to all applicants and employees without regard to race, color, creed, gender, gender identity or expression, age, national origin or ancestry, citizenship, disability, sexual orientation, marital status, pregnancy, veteran status, membership in the uniformed services, genetic information, or any other basis protected by applicable law.
Salary : $90,000 - $135,000