Objective:The primary focus of the Commercial Loan Processor position is provide effective and timely servicing and boarding of all commercial loans and letters of credit from settlement through post-closing follow-up This position will have direct internal and external customer support and communication responsibilities, as well as boarding and maintaining recently closed commercial loans within the Bank’s core and ancillary system.
*Firstrust Bank is an Affirmative Action Contractor and is an Equal Opportunity Employer.*Minority/Female/Disabled/VeteranResponsibilities/Duties:Assist in the development of new business for Firstrust. Is alert to express customer/prospect needs to suggest appropriate services. Directs customers to the appropriate person to open an account. Actively sells and promotes corporate products to potential and existing customers. Possesses knowledge of corporate products and services to suggest products.
Performs a wide variety of tasks related to post-close loan servicing of the commercial loan portfolio.
Process the payment of any fees and necessary general ledger transactions
Respond to internal and external operations requests via email, phone, or other internal digital methods of communication.
Respond to customer inquiries regarding status of commercial loans, collateral held to support those loans, etc.
Process commercial loan draw or pay down requests. Seek approval if loan type and structure necessitate it.
Calculates and prepares payoff statements, verifications, and discharges.
Fund and board commercial loans and letters of credit including collateral and insurance records as well as change in terms. Assure the accuracy of the data enter, establish task reminders and identify exceptions.
Assure that all accounts are properly billed and collected in accordance with established loan requirements. Post payments received in a timely manner. Maintain unapplied balances on all loans; make payments with unapplied funds as required.
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.
Provide for the effective handling of internal and external customer inquiries including research requests
Process commercial payments (traditional, participations and swaps) and review the accuracy of incoming funds and reports submitted by servicers.
Review monthly reports including tickler reports, deferred fees report, and closed loans report and implement all necessary actions.
Daily review of the ACH un-posted report. Research and clear all items involving loans.
Prepare payoff letters for all commercial loans, including satisfaction fees and pre-payment penalty calculations.
Prepare and mail detailed manual unused fee bill for customers.
Active role in accessing system functionality and testing. Identify system limitations and work with management to formulate a resolution and implement plan.
Process and reconcile all of the bank Commercial Participation loans. Including setup, communications and daily remittance to participating banks.
Process, and settle the banks commercial Swap loans on a monthly basis. This includes interest accrual reconciliation, processing billing payments, and performing monthly reconciliations.
Perform other duties as required or directed by the Loan Operations Manager.Essential Functions:The employee will need to position self to lift up to 20 pounds of materials for file maintenance. The ability to communicate and exchange information is required. The incumbent will operate a computer terminal and phone with repetitive motion, while analyzing or preparing dataKnowledge – Skills & Abilities:
4 Year college degree is preferred but not required
5 Years of loan product and servicing experience
Possess strong work habits and attention to detail
Possess a demonstrated commitment to quality service
Intermediate Microsoft Office skills
Excellent organization and time management skills
Communicate clearly and professionally, strong interpersonal skills
Ability to multi-task with an excellent degree of versatility and flexibility
Job Type: Full-time