Job Information
North Shore Bank Commercial Loan Administrator - (Peabody, MA) in Peabody, Massachusetts
POSITION SUMMARY:
Provides assistance to Commercial Lending Officers in all aspects of Portfolio Management; CLA must demonstrate excellent organizational skills, attention to detail and the ability to multitask. The CLA will also perform other tasks/projects as requested and assists to other team members as needed.
ESSENTIAL FUNCTIONS & RESPONSIBILITIES:
Respond to internal and external customer inquiries resolve commercial customer problems and/or assist in resolving commercial inquiries by directing customers to appropriate departments. Communicate basic lending information, general basic services and product information to customers and Bank personnel.
Responsible for processing the daily overdrafts and return deposited items for the Bank’s Commercial customers’ ensuring that the prescribe policies and procedures of the Bank are adhered to.
Responsible for reviewing the Loan Approval for completion of all due diligence, pre-closing conditions, collateral and guarantor requirements and ensure that OFAC checks have been completed through the Bank’s OFAC system on Borrowers, Guarantors and authorized signors.
Prepare commitment letters in accordance with loan approval terms and conditions.
Coordinate the Commercial Loan Closing by communicating with the Attorney and/or the Loan Officer; and preparing or obtaining necessary loan documentation (internal or external) for new loan requests or modifications to existing loans, ensuring adherence to required loan terms and conditions. Work in conjunction with closing attorneys, various vendors and customers to aid in closing process. Ensure that loan pre-closing requirements are met and that all expectations are accurately tracked.
Prepare new loan documentation on loans that are not real estate secured and prepare Amendments to Notes and or Loan Documents as described in the appropriate loan approval.
Review and interpret commercial loan documents to service commercial loans in senior and subordinate positions in accordance with agree upon terms.
Disburse loan funds after closing and setup (image) loan documents within established timelines. Provide on-going support to foster customer relations. Ensure on-going maintenance of loans in the system to meet customer’s and the bank’s needs.
Responsible for the post-closing documentation review and enforcing receipt of closing binders and exception items by working closely with Attorneys and the Commercial Loan Officer.
Responsible for tracking all loan collection expenses, vendor fees, good faith deposits and other professional fees.
Responsible for filing and/or searching UCC’s (Uniform Commercial Code) through the UCC direct website in order to perfect the Bank’s lien on Borrower’s assets pledged as collateral.
Responsible for ensuring that Standard Flood Hazard Determination Forms have been ordered and received on all Commercial Loans secured by Real Estate 10 days prior to closing in accordance with loan approval requirements, NSB Commercial Lending Policy, FEMA Guidelines and Federal Regulatory requirements.
Responsible for obtaining the receipt of the Patriot Act Identification Worksheet and verifying customer information on all new and existing Commercial Loan customers in accordance with NSB Patriots Act Policy, Commercial Lending Patriot Act Procedures, and Federal Regulatory requirements.
Responsible for the preparation of Reg. B notifications to business applicants including incomplete applications, approval of and denials in accordance with the Commercial Lending Policy and Procedures.
Responsible for maintaining Commercial Loan files by scanning/importing required documents and due diligence to the Bank’s content management system efficiently and accurately, ensuring the documents are accurately indexed to Borrower’s name and account number and verifying quality of images.
Annually obtain updated insurance to support outstanding loans.
Perform in-depth and research and analysis leading to resolution of inquires related to monetary or documentation issues. Research and processes all servicing matters relating to commercial accounts.
Adhere to timelines and deadlines established based on client needs and department workflow.
Works with other bank departments as needed to facilitate responses to customer inquiries, including resolution of operational issues related to loan and deposit accounts (i.e. Wire Transfers, Internet Banking Applications, New Deposit Accounts, Insurance Tracking, and Loan Modifications.)
Assumes additional responsibilities as requested.
REQUIREMENTS (Knowledge, Skills, Abilities, and Education and/or Experience):
High school degree or equivalent experience is required
Three to five years related experience and exposure in lending and banking operations with an emphasis on commercial lending preferred.
Should possess working knowledge of commercial lending activities, such as commercial & industrial lending, commercial and real estate lending, lending of condominium associations and small business administration programs.
Must have excellent communications, written, verbal and interpersonal skills
Successful completion Fundamentals of Commercial Lending or ability to obtain within 90 days required.
Ability to pay close attention to detail, work independently and meet deadlines in a fast-paced environment.
Strong knowledge of commercial loan documentation title policies, entity formation documents and working regulatory knowledge such as privacy, safeguarding customer information, Regulation B, Equal Credit Opportunity Act, Regulation Z, Truth in Lending, CRA, HMDA, and flood regulations required.
Strong organizational skills in working effectively with other divisions of the Bank.
Ability to handle multiple priorities
Excellent customer relations, communications, and interpersonal skills.
Strong PC skills including proven ability to assimilate software applications including Word, Excel, in a Windows environment as well as Adobe Professional.
NSB offers competitive benefits packages, which include the following:
Medical, Dental and Vision on day 1 - no waiting period
401k with company match
Paid Time Off - Vacation, Personal, Sick, Holiday
FSA/DC/HSA Accounts
Company Paid Short-Term Disability
Company Paid Long-Term Disability
Paid Family Medical Leave
Company Paid Life & ADD
Voluntary Life
Tuition Assistance
Hospital Indemnity Plan
Employee Referral Bonus
Employee Banking Discounts
Supplemental Insurance Plans with AFLAC
Pet Insurance
Weekly Jeans Day Program
Service Recognition Program
Wellness Benefits including Weight Watchers, Mind & Body, Gym Memberships and much more!
At North Shore Bank, we are committed to creating a place as diverse as the communities we serve. Our core values shape the decisions we make every day and help to define our company culture and it is these values that comprise what we call, “well north of your expectations”. Our core values include leadership, integrity/transparency, respect, adaptability, collaboration, accountability, and empathy.
North Shore Bank is an EOE. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, or protected veteran status and will not be discriminated against on the basis of disability.
Monday-Friday
8:30 AM to 5:00 PM