TITLE: Commercial Loan Administrator
Under the direction of the Chief Risk Officer, the Commercial Loan Administrator will manage the Bank’s Commercial Loan Assistants to ensure that all loans are properly booked to the loan system, proper quality control measures are in place, required reporting is done on a timely basis, and appropriate disclosures are issued as required by Federal and State regulations. The Administrator will also provide Commercial Loan Assistant coverage as needed for both the Massachusetts and Salem teams.
Commercial Loan Administrator Duties:
- Manage the team of Commercial Loan Assistants, ensuring strong performance, proper staff development, and alignment with Pentucket Bank’s mission and culture.
- Oversee the quality control review of all commercial loans to ensure that the loans are closed and booked as approved. Portfolio includes swaps, participations, and syndicated loans.
- Ensure that all rate changes are done properly, including the testing and verification of new loans payments as well as the accuracy of new statements and rate review letters.
- Review daily maintenance reports and reconcile system accounts.
- Administer payments on interest rate swaps in conjunction with the bank’s third party dealer.
- Prepare internal monthly and quarterly loan reports for Relationship Managers, the Executive Committee, and the Board of Directors.
- Prepare various external monthly and quarterly filings for the Federal Reserve Bank, SBA, call report, etc.
- Track credit memos, confirming loan approvals receive all necessary signatures and board approvals.
Commercial Loan Assistant Duties
- Provide assistance to the Relationship Managers and Credit Analysts, which includes preparation of loan packages, pulling credit reports, and other duties as necessary.
- Prepare pre-closing checklist which includes:
- Review of credit offerings
- Review collateral files of existing loans for outstanding exceptions
- Complete UCC, deed, corporate filing, and flood searches when applicable
- Pull LexisNexis and OFAC findings
- Order appraisal and environmental reports
- Prepare closing packages; check documents for proper vesting, legal descriptions, closing dates and signatures. Issue clear to close for title insurance & insurance.
- Coordinate closings with Relationship Manager, borrowers, and attorneys.
- Fund and book new loans.
- Prepare Letters of Credit.
- Handle and problem solve customer service inquiries.
- Participate in special projects as appropriate.
SUPERVISORY RESPONSIBILITIES: This position is directly responsible for the direct supervision of the Commercial Loan Assistants.
EDUCATION and/or EXPERIENCE:
- Knowledge of laws and regulations governing lending (Federal and State), including escrow analysis, delinquency reporting, and insurance tracking.
- Prior experience managing staff and achieving team wide goals.
- Experience with internal controls and reconciliations.
- Good communication skills and ability to work well with others and independently as the situation dictates.
- Ability to write clearly and concisely as it relates to policies, procedures, and reports.
- Excellent organizational and project management skills; ability to manage multiple tasks and projects simultaneously.
- Bachelor’s degree or equivalent experience.
TECHNICAL AND OTHER SKILLS:
- Proficient with standard computer applications (Windows, Outlook, Word, Excel)
- Experience with Finastra suite of products preferred (Customer Management, LaserPro, Credit Quest, etc.)
OTHER SKILLS or ABILITIES:
- Customer Service Disposition - Attends to both internal and external customers with a high level of service in line with the bank’s mission and goals.
- Decision Making and Problem Solving - Makes decisions in a timely manner, uses a mix of analysis, experience, and judgment to solve difficult problems with effective solutions.
- Informing and Communicating - Proactively communicates information to employees up, down, and across the organization; provides updates on projects, tasks and potential roadblocks.
- Time Management - Uses his/her time effectively and efficiently; values time; concentrates his/her efforts on important priorities and completes tasks and/or projects on time.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly seated at his/her desk. The employee frequently pulls files from the Loan Servicing area and may be called upon to move a large number of files which can be quite heavy. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Job Type: Full-time
- 401(k) matching
- Dental insurance
- Disability insurance
- Employee assistance program
- Health insurance
- Life insurance
- Paid time off
- Parental leave
- Retirement plan
- Tuition reimbursement
- Vision insurance
- 8 hour shift
- One location