Loan Quality Assurance Specialist

Job Description

Job Description

To see benefits offered by Foresight Bank, please visit our careers page: Career Opportunities | Foresight Bank.

Organization Overview:

Foresight Bank is the largest, locally owned community bank in Northern Illinois, with fifteen offices in the counties of Winnebago, Stephenson and Kankakee. Foresight Bank is owned by Foresight Financial Group, Inc., an Illinois corporation founded in 1986, a financial holding company established under the Federal Reserve.

Position Summary:

The Loan Quality Assurance Specialist is responsible for providing accurate and timely processing of assigned tasks and ensuring that exceptional support is provided to staff for all loan products and services.

Primary Responsibilities:

1. Perform daily operations to ensure accurate and timely processing and verification of loan documentation and support to all bank staff.
2. Responsible for timely handling of new loan verifications, including but not limited to: verification of correctly entered information into Core system, proper signatures on all documents, proper documentation received, etc.
3. Possess knowledge of compliance, guidelines, and documentation related to opening a new loan.
4. Loan Account review for quality control.
5. Review of applicable annual reports and Year End Tax Statements.
6. Conducting post-closing reviews on loan documentation.
7. Setting loan exceptions.
8. Setting financial documentation schedules and ticklers.
9. Clearing exceptions via ticketing system.
10. Manage Loan Exception Reports as needed.
11. Provide backup to other Loan Shared Services departments as needed.
12. Assist with corporate and departmental projects as assigned.
13. Assist with gathering and reviewing related audit documentation, copies and reports as requested.
14. Assist in identifying possible efficiencies in process and communicating with the Quality Assurance Supervisor.
15. Maintain strict confidentiality of all customer records and personal information.
16. Maintain compliance with and adhere to all state and federal regulations and bank policies and procedures, including but not limited to Bank Secrecy Act, FACT ACT, Community Reinvestment Act, and EEO/AA/Fair Employment Practices.
17. Perform other duties as assigned.
18. Maintain compliance with and adhere to all state and federal regulations and bank policies and procedures, including, but not limited to Bank Secrecy Act, FACT ACT, Community Reinvestment Act, and EEO/AA/Fair Employment Practices.

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

Competencies:

To perform the job successfully, an individual should demonstrate the following competencies. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Customer Service : Advanced ability to fulfill the needs of internal and external customers by anticipating their needs and delivering timely and accurate communication and follow-through.

Planning : Can establish a systematic course of action for self to accomplish objectives in an organized manner; determines priorities and allocates resources effectively.

Communication : Effective written and oral communication skills.

Analytical Thinking : Strong analytical skills including the ability to address situations by using a logical, systematic, sequential approach.

Technical : Advanced working knowledge of loan operations banking applications. Fluency in Microsoft Word and Excel.

Position Performance Standards:

Handling and review of all documentation/reports according to compliance, regulations and bank policies.

Accurate and timely processing of year- end tax statements, loan closing packages, financial statements, loan agreements, etc.

Successful exams and audits without significant findings.

Performance Weightings:

40% Competencies

60% Position Performance Standards and Personal Goals

Qualifications:

HS Diploma or equivalent required. Minimum 1 year of banking experience. Loan Operations and Jack Henry knowledge preferred. Knowledge of related banking regulations desired.

Physical Demands and Work Environment:

This job operates in a clerical office setting. This role routinely uses standard office equipment such as computers, phones, copy machines, filing cabinets and fax machines. The physical demands described here are representative of those that must be met by a Team Member to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This position requires manual dexterity. While performing the duties of this Job, the Team Member is regularly required to sit or stand for extended periods of time.