Timely and accurately, complete daily SBA, Construction, ABL, Commercial, Business Banking & Consumer Loan Operations servicing tasks. Ensures regulatory compliance and responsible for analysis, solution-oriented recommendations. Builds and maintains good working relationships with Relationship Managers.
Provide assistance to unit staff members and customers including the research and answering of complex loan structure, system and compliance questions. Offer suggestions for process improvements. Participate in software upgrades including performing test scenarios.
Firstrust Bank is an Affirmative Action Contractor and is an Equal Opportunity Employer.
Minority/Female/Disabled/Veteran
Responsibilities/Duties
Assist in the development of new business for Firstrust. Is alert to expressed customer/prospect needs to suggest appropriate services. Directs customers to the appropriate person to open account. Actively sells and promotes corporate products to potential and existing customers. Possesses knowledge of corporate products and services to suggest products.
Assure that all accounts are properly billed and collected in accordance with established loan requirements and policies. Post payments received in a timely manner. Maintain unapplied balances on all loans; make payments with unapplied funds as required.
Process change in terms and maintain accurate bank, borrower and investor records.
Implement system changes, maintenance of rate and field changes, when required. Review, analyze and assist with balloon loan reporting. Make necessary adjustments to the loan record when applicable.
Process payments and review the accuracy of incoming cash receipts/wires and reports submitted by servicers. Verify principal and interest distribution of funds on these remittances.
Resolve customer inquiries by performing detailed loan review, identifying issues and making applicable changes to the loan including monetary adjustments.
Process SBA monthly remittance. Process monthly remittance due to investors.
Sets up construction loan disbursement files; sets up new borrower credit files or assures new loan information is included in existing credit file.
Assures receipt and approval of inspection and title bring down reports for all voucher requests. Schedules all disbursement transactions and inputs requests into the construction loan system. Prepares and presents disbursement documentation from the system; monitors and balances disbursement report.
Sets up and maintains escrow accounts ensuring complete accuracy of account information. Maintains the integrity of the system data.
Responsible for monitoring various collateral reports, taking specific action to maintain collateral position and updating the collateral recording information on loan accounting systems.
Monitors various system generated reports and take appropriate action based on the information appearing and bank procedures. .
Prepare mortgage satisfactions, UCC terminations, releases and assignments for all business lines including commercial, construction, business banking, business finance, and consumer lending. Prepare partial release documents for construction loans. Responsible for satisfaction and research of SBO (serviced by others) loans. Process monetary functions required to pay recording fees.
Prepare payoff letters for all commercial and consumer loans, including satisfaction fees and pre-payment penalty calculations.
Provide for the effective handling of internal and external customer inquiries. Process research requests from customers for all loans types.
Maintain a basic knowledge of the various core systems for understanding the impact of various field values.
Perform other tasks as assigned by Loan Operations Servicing Manager.
Essential Functions
While performing the essential functions of this position, the employee may be required to ascend/descend stairs and work atop a small ladder to store and retrieve files. The employee will need to position self to lift up to 20 pounds of materials for file maintenance. The worker sits most of the time; however, some amount of mobility is necessary to accomplish tasks. The ability to communicate and exchange information verbally and written is required. The incumbent will operate a computer terminal and phone with repetitive motion, while analyzing or preparing data. Temperature changes may occur during the workday in the office setting.
Knowledge - Skills & Abilities
4 year college degree in a business or accounting degree preferred
3 - 5 year experience in an SBA, Construction, ABL or Commercial loan operations position
Possess loan structure, servicing and regulatory knowledge of SBA, Construction and ABL loan products
Possess strong work habits, attention to detail and ability to work on a team
Possess a demonstrated commitment to quality service
Knowledgeable with MS Word and MS Excel. Experience with entire MS Office Suite helpful
Detail oriented
Strong organizational and accounting skills
Ability to multi-task with an excellent degree of versatility and flexibility
