ESSENTIAL FUNCTIONS of Loan Operations Specialist (Majority of duties, but not meant to be all inclusive nor prevent other duties from being assigned as necessary)
- Update exception tracking items to the core system and upload to document imaging system.
- Scan and Index loan documents.
- Work daily Loan Operations reports
- UCC exception report
- Process paid loan files including preparing release of collateral
- Post incoming loan wires.
- Building and maintain loan files
- Other Loan Operation duties such as booking loans, quality control of loan booking and posting payments, etc.
- Communicates with Loan Officers and Lending Assistants for inaccurate or missing documentation.
- Other duties as assigned or as necessary to ensure smooth and correct Departmental operation.
KNOWLEDGE, SKILLS & ABILITIES of Loan Operations Specialist (Minimum education, experience, technical and communication skill levels and licenses/certificates normally required to perform the duties of this position.)
- Problem solving skills and ability to prioritize.
- Moderate keyboard skills including word processing and spreadsheet applications.
- Working knowledge of documentation guidelines and lending regulations.
- Must have moderate knowledge of all types of all types of entity documentation, compliance, escrow, and collateral requirements for all types of borrowers, loans, and collateral items.
- Good written, oral, and interpersonal communication skills with ability to explain documentation requirements.
This level of knowledge is normally acquired through completion of a high school diploma, or equivalent, and 2-3 years loan documentation and mortgage escrow servicing.
WORKING CONDITIONS of Loan Operations Specialist (Typical working conditions associated with this type of work and environmental hazards, if any, that may be encountered in performing the duties of this position.)
Internal – Work is normally performed in climate-controlled office environment, where exposure to conditions of extreme heat/cold, poor ventilation, fumes and gases is very limited. Noise level is moderate and includes sounds of normal office equipment (computers, telephones, etc.). No known environmental hazards are encountered in normal performance of job duties.
External – N/A
PHYSICAL DEMANDS of Loan Operations Specialist (The physical effort generally associated with this position)
Work involves standing and walking for brief periods of time, but most duties are performed from a seated position. Work may include occasional pushing, pulling, or carrying objects weighing up to 20 pounds such as files, documents, and computer printouts. Work normally requires finger dexterity and eye-hand coordination to operate computer keyboard at an advanced skill level. Position includes moderate reading (10% or more of work time spent reading) and extensive computer usage (60% or more of work time viewing computer monitor) as well as close or highly concentrated visual work. Receive detailed information through verbal communication both in person and by telephone.
WORKING RELATIONSHIPS/CONTACTS of Loan Operations Specialist (Positions, other than supervisor and immediate co-workers, with which incumbent has frequent contact and the reason for contact.)
Internal – Extensive contact with personnel throughout the Corporation.
External – Frequent contact with customers and insurance providers in order to obtain or provide information and/or assistance and to resolve exception items.
Supervision of Others – N/A
ACCOUNTABILITY (Budget/asset amount managed, revenues/profits produced, and/or other financial resource incumbent is accountable for. Also, indicates judgement/decision making level.)
This position is responsible for effectively and accurately managing the exception tracking, working loan operational reports, processing paid off loans for the bank, providing backup and assistance for loan booking, and booking QC as well as achieving individual production goals.
The Loan Operations Specialist has the sole responsibility to apply expertise and judgment on the quality of the loan documentation received, control over exception management, and analysis.