What are the responsibilities and job description for the Commercial Loan Administrator position at Veritas Partners?
RESPONSIBILITIES:
- Works with Operations Unit Manager, Real Estate Finance Risk Manager, Real Estate Finance Processor and Relationship Manager to set up new commercial real estate, construction loans and request new loan numbers.
- For more complex construction loans, prepare new loan set-up data sheets and review new construction loan information in the Pipeline section of the construction loan system. Sets up loan budget; reviews data input for accuracy and assures that new loan set up line-item budgets are in accordance with approval. Understands and implements required primary and subaccount data entry input. Reviews essential documentation ensuring that original executed Note is received prior to funding.
- For all Real Estate Finance construction loans, assured pre-closing on-going draw disbursement funds are reserved with Finance Department Funds Manager and coordinates actual funding with Loan Operations Accountant at closing and for all subsequent draws.
- Set up construction loan disbursement files; set up new borrower portfolio files or assure new loan information is included in existing portfolio files.
- Ensures all Letters of Credit are properly accounted for on the Construction Loan System Budget. Track the respective Township Release(s) for each Letter of Credit.
- Prepares and presents disbursement documentation from the system, monitors and balances disbursement report. Works with Operations Unit Manager and Real Estate Finance Reporting and Risk Management Unit Manager to assure accurate set up and administration of all loan Syndications/Participations – In or Out.
- Track escrow account information, ensuring complete accuracy of account information. Maintains the integrity of the system data.
- Reviews monthly interest billing statements for accuracy. Monitors’ interest reserve adequacy on all accounts; assures accurate billing if interest reserves are exhausted.
- Alerts management to process and procedural changes concerning the daily, monthly and continuing responsibilities associated with managing and controlling construction loan information interfaced with bank wide Accounting and Finance systems for the construction loan system used by the Loan Operations Accountant, lending staff and this position. Works with and coordinates specific job activities with the Real Estate Finance Construction Loan Processor to assure adequate backup. Provides excellent customer service to clients. Responds to general inquiries on loan status.
REQUIREMENTS:
- Bachelor’s Degree in accounting, finance, or related field; OR comparable experience in
construction loan servicing or a commercial banking position
- Knowledge of transaction data entry and understanding of debits/credits as well as proofing and balancing accounts.
- Working knowledge of general ledger automated systems preferred.
Salary : $80,000 - $100,000