Business Loan Specialist

Serves as primary support contact providing administrative and internal/external support for the Business Lending Team in all areas, with the exception of underwriting and loan approvals. Loan Specialist will monitor business loan relationships, assist with customer service needs, produce/review loan documentation, ensure proper collateral perfection, and manage up-to-date relationship tracking.

Upholds legal, regulatory and compliance requirements unique to the role, in addition to Bank Secrecy Act, Anti-Money Laundering, OFAC, and Information Security policies and procedures. Completes annually required compliance related courses as established by Harborstone Credit Union policies and/or practices.

Completes annually required Product and Process Knowledge competency testing, in addition to job related courses as established by Harborstone Credit Union policies and/or practices.

Effectively builds trust with members and internal staff by embodying and demonstrating the Core Values of the organization. Consistently advocates for Harborstone’s members, offering opportunities for financial equity and prosperity and the tools necessary to help them thrive.  Demonstrates value and difference by expertly informing our communities of effective financial products, services, and solutions to help them attain their full potential.

Compensation:

Minimum - $21.08

Maximum - $30.11

Candidates with desired experience / skills can anticipate around $22.60.

• Knowledge of loan documents (Promissory Note, Loan Agreement, Guaranty, etc.).

• Strong working knowledge of a variety of collateral security methods and documentation including knowledge of UCC’s, title, escrow, taxes, insurance and real estate documentation relating to commercial real estate.

• Works on assignments that are moderately complex in nature where judgment is required in resolving problems and making routine recommendations.

• Ability to maintain high attention to detail with strong organizational and time management skills.

• Ability/willingness to work independently and collectively in a team environment.

• Proven motivated/self-starter who is flexible and able to adapt quickly to a change in priorities/tasks and a willingness to accept additional responsibilities as opportunities arise.

• Requires basic arithmetic skills, knowledge of operational procedures, practices and policies.

• Thorough knowledge of credit union, state and federal policies, procedures and laws regarding lending.

• Federal and state consumer and commercial lending regulations.

• Fixed, adjustable rate consumer, real estate and business loans.

Essential Functions:

• Prepares in-house commercial, participation, SBA and secondary market loan documentation on a timely basis for various products, for all segments of business banking. 

• Performs duties related to the processing and/or closing of loans.

• Provides information and assistance to loan originators, members, title companies, escrow firms or dealers during the set up/funding and/or construction loan processing and closing process. 

• Coordinates loan documentation and reviews/processes documentation and files to ensure loan package completion to meet lending specifications.

• Assists with credit approval process as needed (i.e. managing/tracking internal loan codes, approval documentation, deposit balances, etc.).

• Reviews and monitors loan documents for accuracy, completeness and adherence to approval conditions occasionally providing recommendations for language to include in the loan documents if appropriate.

• Reviews title insurance commitments and exceptions on commercial real estate loans, providing feedback on errors or omissions.

• Coordinates funding process, prepares closing escrow instructions and manages timeframes for commercial real estate loans.

• Monitors existing loans to ensure conformity with approved terms.

• Follows up with business customers to obtain all necessary information and clarification on applicable documentation, materials and resources.

• Negotiates loan signing dates with clients, any applicable third parties and Business Loan Officers if needed, and may be required to handle loan signing with business loan clients on behalf of the Officer.

• Advances funds for payment or credit accounts at the request of the Borrower or Business Loan Officer.

• Manage and monitor daily/weekly/monthly loan tracking, ticklers, client overdrafts and other applicable reporting.

• Set up/maintain business physical and electronic loan files as needed.

• Work with title companies, attorneys or other financial or legal resources to obtain correct, accurate documents to fully protect the credit union’s interests as well as build professional relationships.

• Processes loan payments and payoffs, resolves customer problems, tracks insurance payments/taxes/uniform commercial codes, researches loan issues and completes necessary reporting.

• Completes monthly SBA reporting. 

• Audit loan and GL accounts as needed.

• Ensures that appropriate segregation of duties is maintained so as to be in compliance with standard industry “best practices” and Harborstone’s audit requirements.

• Ensures all work is completed accurately while delivering exceptional customer service.

• Identifies efficiency improvements in all operational aspects of the department.

Education/Experience/Certification:

Five or more years’ in a financial institution with at least three years’ experience processing business/ commercial loans, including participations and SBA loans. Experience with LaserPro software, preferred.