What are the responsibilities and job description for the Commercial Loan Assistant position at New Valley Bank & Trust?
JOB SUMMARY
Under the direction of the SVP Chief Credit Officer, the Commercial Loan Assistant is responsible for the timely and accurate preparation of loan documentation including pre- and post- closing follow-up, on-going file maintenance, legal documentation review, appraisal bidding/ordering, flood determinations, UCC filing, environmental ordering, and other duties as assigned. This role will also be involved in on-boarding new relationships and maintaining electronic credit files.
ESSENTIAL FUNCTIONS
•Efficiently prepare and coordinate the commercial loan documentation and preparation process from application through loan closing, including ordering/preparing services and other necessary documentation as instructed.
•Work in collaboration with Loan Servicing to provide continuity in process from start to finish.
•Review loan documents for accuracy, completeness, and compliance with appropriate laws, regulations, and bank policies.
•Assist with the collection of data necessary for compliance with CRA and CIP within the CORE.
•Communicate, send/receive information to attorneys and lenders regarding the closing and disbursement of loans.
•Prepare all loan documentation for in-house closings and modifications through LaserPro.
•Ensure compliance with the documentation checklist.
•Communicate with Attorneys regarding closings, environmental and other required documentation.
•Responsible for ensuring the receipt and accuracy of all loan closing fees (i.e., tax escrow, commitment, appraisal, environmental etc.).
•Ensure compliance with flood requirements, forced placed coverage, insurance tracking and monitoring.
•Ensure compliance with regulatory issues, including but not limited, to HMDA, CRA, Flood, Beneficial Ownership, CIP, Environmental, Appraisal, Regulation O, UCC filings and Reg B.
•Gather customer credit information, appraisals, collateral lien filings, title commitments/binders, verification of deposits/loans, tax returns and financial statements for use by commercial lenders, ensure collection of post-closing items and establishment of ongoing requirement ticklers (Abrigo/Sageworks).
•Performs back-up for entering customer profiles into the CORE.
•Requests, receives, and sends files and other information in compliance with internal processes and procedures.
•Assist with file documentation for internal or external audits, as needed
•Provide QC to Loan Servicing function and rotate through the loan processing function for back- up and daily support.
•Provide back-up and support to the loan processing function and stay current on processes and procedures, this includes updating daily rates, onboarding new loans, performing loan maintenances, and transaction support as needed.
•Accept ongoing training to deepen knowledge of industry regulations, bank policies, etc.
•Regular and reliable attendance.
•Other duties as assigned
New Valley Bank and Trust employees must follow all policies and procedures related to their position and any laws, rules or compliance regulations that apply in the accomplishment of their assigned duties, while also using good judgment and ethical standards.
QUALIFICATIONS
Education
•High school diploma or equivalent required; some college preferred
•Minimum of 5 years of experience in banking; experience in commercial lending preferred
Skills and Experience
•Strong knowledge of commercial loan documentation; working knowledge of banking laws and regulations, relating to the documentation and servicing of loans
•Excellent organizational, verbal, and written communication, and computer skills
•Excellent customer service skills with a high degree of professionalism and positive demeanor
•Strong organizational skills with the ability to prioritize a multitude of assignments
•Excellent oral and written communication skills
Physical Requirements
•Ability to stand or sit for extended periods
•Ability to communicate clearly and concisely
Other Duties
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of this position. Duties, responsibilities, and activities may change at any time without notice.
Post-Offer Background check performed. Includes credit, criminal and reference checks.