About Us Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream. How This Role Impacts Live Oak and its People As a Loan Operations Specialist at Live Oak Bank, your role is crucial in safeguarding the accuracy and integrity of our core data through your advanced knowledge of Live Oak loan products, policies, and procedures while maintaining a meticulous attention to detail. What You’ll Do at Live Oak - Embody Live Oak’s core values. - Demonstrate a deep understanding of Live Oak's loan products and procedures across all divisions of the bank. - Efficiently manage inquiries and requests related to the loan onboarding and servicing. - Use sound judgment and innovation to uphold the integrity of the bank's financial data by accurately maintaining loan records in the core system. - Collaborate with bank personnel to maximize client service and mitigate potential risk to the bank through creative problem solving. - Take ownership of primary responsibilities and pursue them with enthusiasm. How You’ll Do It - Oversee and coordinate the onboarding of all new loans and leases to the core system with promptness and accuracy. - Review and approve the allocation of funds at the time of loan funding and facilitate appropriate general ledger balancing entries for all closing costs and fees. - Manage inquiries brought forth by loan personnel, legal counsel, and customers regarding payments, disbursements, payoffs, modifications, loan documents, and reconciliations. - Effectively analyze and interpret complex loan documents while adhering to the parameters of the core system and established banking procedures. - Manage daily data syncs between loan core system and customer relationship management platforms. - Direct all aspects of the loan and lease payoff process including the preparation of payoff statements and allocation of funds received. - Update core interest rate configurations through daily research and tracking of various published index values. - Facilitate loan and lease related electronic funds transfer requests including disbursements, payments, deposits, and refunds. - Facilitate the internal transfer of funds through Live Oak Bank accounts per the servicing requirements of Renewable Energy, Government Contracting, Specialty Finance, and Agriculture loans. - Analyze daily activity reports to identify and execute actionable changes in the core system. - Manage the preparation and distribution of monthly loan and lease billing invoices. - Update critical core data to align with approved loan modification documents. - Collaborate with various other departments around the bank to complete reconciliations and troubleshoot discrepancies. - Use sound judgement. When necessary, asks for help or guidance. - Comply with Federal, State and SBA Regulations. - Ability to work independently while also being a team player. To Thrive at Live Oak Gravitate to Growth – Shows adaptability and support for changes to improve organizational effectiveness. Communicate and Collaborate – Communicates clearly and thoughtfully, demonstrating empathy in teamwork. Eye of the Tiger – Gets positive results by taking personal responsibility for actions and team outcomes. Know Your Business – Curates and maintains a depth of knowledge and skill to perform one’s job effectively. Customer at the Center – Provides customers with a personalized experience to achieve exceptional outcomes. For a detailed overview of our employee benefits please visit: https://www.liveoakbank.com/corporate-social-responsibility/live-oak-bank-employees/ At Live Oak Bank, we are passionately focused on creating an inclusive and genuine environment! We encourage you to apply for roles that you believe you’d be a great fit for, even if you feel your past experience does not perfectly match every requirement. As we continue to grow, our People Team will match the skillsets of current and prior applicants with open roles within our organization. As we say at Live Oak, "Paint the Target!" and go after your goals!" The base pay range for this position is $26.44 - $43.27 per hour. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate’s salary is determined by several factors including travel, relevant work experience or skills and expertise. Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington. More than just a job, a career at Live Oak is an opportunity to mold the future of the banking industry. Live Oak Bank would not be the top SBA 7(a) and USDA lender in the country without our people. We focus on hiring folks who are dedicated to living our values, every single day. Together, we’re on a mission to be America’s small business bank. At Live Oak we never lose sight of focusing on the wellbeing of our folks. We believe our employees are the heart of our company and drive our commitment to our customers. As part of the Live Oak team, you’ll have the chance to shape the next chapter of banking while supporting the backbone of our nation – small businesses.