Loan Operations Processor
Job Description
Position: Loan Operations Processor
Status: Full-Time; Non- Exempt
Location: Supports All Branch Locations of Star Bank, physical position location is our Maple Lake office.
*Note: this is NOT a remote work position.
Department: Loan Operations
Reports To: Loan Operations Manager
The position of Loan Operations Processor requires excellent knowledge of banking regulations, particularly in the lending area. You will be required to accurately and efficiently process loan requests including credit investigation, and the document preparation and boarding of loans. You will also be responsible for assisting the Loan Department in performing various duties and special projects related to new and existing loan customers.
Summary of Job Responsibilities:
- Performs all related duties to support the Loan Department in the management of customer loans.
- As needed, run credit reports, pull flood determinations, order appraisals and title work, and conduct account research.
- Assists lending officers in the preparation of pre-funding worksheets, HMDA data collection, loan documentation checklists and any the use of any outside resources such as the Military Lending Account, and Geocoding, etc. that is necessary to properly submit a loan package to the Loan Processing department.
- Prepares appropriate loan disbursement entries (cashiers checks, deposit, wire transfer, etc.) on signing date and according to loan disbursement instructions provided by Lender.
- Remit payments to third party vendors including appraisers, insurance companies, and title insurance companies.
- Responsible for collateral perfection including recording mortgages, UCCs, CNS filings, titled units, etc.
- Monitors and maintains customer loan files.
- Monitors and maintains the loan tickler system. The tickler system is used to track and ensure customer financial information is current and all loan collateral is secured. Items tracked include but is not limited to: mortgages; title policies; UCCs; lien cards; collateral insurance; customer financial statements; etc.
- Doc imaging of complete loan files.
- Processing of loan payoff requests, loan payoffs, and loan payments.
- Monitor loan payoff report and ensure all necessary steps are completed to close out the loan. Release any loan collateral at the direction of the lender responsible for that account relationship.
- Prepares routine letters, reports, and forms.
- Provides support to all areas of the office where service or assistance is needed.
- Provides excellent customer service in regards to customer deposit account balances, loan balances, and payoff requests.
- Maintains adequate supplies in loan support area: fills copiers, fax and printers with paper and ink as needed; and monitors customer access areas and bank lobby to ensure relevance and timeliness of marketing materials and publications.
- Provides support to all areas of the office where service or assistance is needed.
Summary of Job Responsibilities (Multi-Office):
- Completes loan documentation requests for all bank locations.
- Upload loans to the bank's iCore system after loan closing.
- Generate adverse action notices as needed.
- Maintenance existing loans in iCore.
Skill / Knowledge Requirement:
- Must stay abreast of banking rules and regulations.
- Proficient in the use of LaserPro; the bank's loan processing software.
- Have an understanding of the iCore system from an operational standpoint.
- Keen attention to detail and accuracy.
- Independent and critical thinking skills.
- Strong problem solving skills.
- Math aptitude and the ability to find system errors.
- Remain apprised of iCore system functionality.
- Attend department meetings and training sessions as required.
Working Conditions:
- Well-lit, temperature-controlled indoor office setting with adequate ventilation and moderate noise level, only occasionally requiring exposure to outdoor weather conditions.
- Primarily sedentary physical activity performing non-strenuous daily activities of an administrative nature often requiring sitting, talking, and listening.
- Manual dexterity sufficient to work with the fingers.
- May occasionally be required to lift and/or carry over 10 pounds.
NOTES:
- This position description in no way states or implies that these are the only tasks to be performed by the person occupying this position. The incumbent will be required to follow any other instructions and to perform any other position-related duties.
- Requirements are representative of minimum levels of knowledge, skills, and/or abilities. To perform in this position successfully, the incumbent will possess the abilities and aptitudes to perform each task proficiently.
- Ability means to possess and apply both knowledge and skills.
- This position description has excluded the marginal or peripheral functions that are incidental to the performance of primary functions. All requirements are essential to the function of the position.
- This position description describes the minimum selection requirements to qualify for the position. However, promotion and other employment decisions are also based on Bank needs, being in good standing, fully-competent performance, and other nondiscriminatory issues.
- All requirements are subject to possible modification to reasonably accommodate individuals with disabilities.
- This position description does not create an employment contract, implied or otherwise, other than an at will employment relationship.
- Punctual and regular attendance are a requirement of this position.