Commercial Loan Coordinator

Description

Overview:

This individual is responsible for supporting the origination, onboarding, servicing, and maintenance of commercial loans throughout the loan’s lifecycle. Works closely with the Commercial Loan Administrator and management to ensure loan transactions are approved, documented, and completed in accordance with Bank policies, procedures, and regulatory requirements.

Contributes to the efficiency of maintaining data input integrity and ensures timely processing of loan maintenance, servicing requests and onboarding of new loans closed.

This role offers opportunities for growth within the Commercial Lending Team, with the potential to advance into a Commercial Loan Administrator position.

Must be a detail-oriented professional with an understanding and experience of commercial lending and the various loan facilities.

Primary Accountabilities / Responsibilities:

1. Coordinate timely and accurate onboarding and maintenance of commercial loan facilities in the Bank’s core system, including modifications, renewals, extensions, participations, letters of credit while ensuring compliance with loan presentation and executed loan documents.
2. Creating new individual and entity profiles in the core system.
3. Review approved loan presentation and executed closing documents to identify any discrepancies.
4. Review and completion of the post-closing checklist and indexing of closing documents to digital archives.
5. Perform quality control reviews on newly booked loans and prior day loan maintenance transactions to ensure data accuracy, completeness, and compliance with Bank policies and procedures.
6. Process loan participation transactions, including advances, payments, settlements, and wire transfers, in accordance with Bank procedures.
7. Process advances for Revolving Lines of Credit (RLOC), paydowns and construction loans while ensuring compliance with Bank policies and procedures.
8. Enter and maintain new and updated insurance information for existing commercial loan portfolio within the COCC Insight system. Ensure records remain current and up to date by following up with agents, borrowers and lenders on expirations and cancellations.
9. Process General Ledger (GL) tickets for various loan related fees.
10. Prepare loan payoff requests and notify lender to determine prepayment penalty and then issue payoff letters as requested.
11. Coordinate the release of real estate recorded liens on land records, Uniform Commercial Code (UCC) filings with the Secretary of State and Department of Motor Vehicles (DMV), if applicable.
12. Process the return of paid loan documents to customers.
13. Generate and distribute loan notices or reports from Synergy.
14. Coordinate and maintain automatic payment transfers of loan payments.
15. Review computer generated adjustable-rate change reports and notices; mail notices to customers; resolve problems as they arise.
16. Perform loan level maintenance, as necessary.
17. Monitor paid loan files with computer generated reports.
18. Process loan payments and payoffs received internally and from the mail. Process payment reversals and corrections as needed.
19. Prepare and submit monthly reporting to the Small Business Administration (SBA).
20. Ensure lenders adhere to all Commercial Loan Policies, Procedures, and Compliance Policies and Procedures to any loan boarding or servicing activities.
21. Prepares, organizes and ensures accuracy of required reports, correspondence, memos and other necessary documentation within the timeframe specified.
22. Gathers scanned loan file information for internal and external audits and exams.
23. Assist customers whether internal or external with servicing inquiries.
24. Performs additional duties as requested by Manager.

Requirements

Knowledge/Skills/Experience Requirements:

Minimum of 1-3 years of commercial loan servicing experience required. Working knowledge of commercial loan documentation is required. Accuracy and strong clerical and organizational skills required. Proficient in PC applications. Must maintain a high level of attention to detail while performing all tasks. Ability to maintain a high level of attention to detail while performing multiple tasks.

Work Environment/Physical Demands/Condition Requirements:

Busy office environment, with moderate noise: computers, printers, phones, and light traffic.

Must be able to focus and not be easily distracted. Must be able to sit for at least 70% of the

workday. Some movement is required to retrieve files, etc. Must be able to see computer

screen and read documents.

Equipment Used:

General office equipment: Computer, Telephone, Mobile devices, Scanner.

Information Security

Responsible for actively protecting the confidentiality of customer information and computer systems used in the bank by:

• Remaining alert to and reporting malicious or suspected malicious email.
• Participating in training opportunities to ensure continued protection of customer data.
• Provide feedback where possible to help improve the Bank’s security culture.

Responsible for maintaining confidentiality of all sensitive information.

Compliance:

Satisfactorily completes all required compliance training and complies with all regulations which apply within the scope of the position.

Benefit Offerings:

401k plan, health insurance package, H.S.A. contribution, bank paid life insurance, wellness reimbursement, tuition reimbursement, PTO, Volunteer PTO, flexible work schedules, hybrid work roles, employee recognition program and career path coaching.

Annual Salary Range: $50,486 - $69,873

The base salary range displayed represents the expected budget for this position at the time of posting. Actual compensation packages are finalized at the offer stage and are determined by a variety of factors. The starting salary will be based on the following, but not limited to, the candidate’s specific work experience, job-related knowledge, education, specialized skills, certifications, and internal pay equity across our current team.

Torrington Savings Bank is an equal opportunity employer, dedicated to a policy of non-discrimination in employment on any basis prohibited by law. The Bank considers applicants for all positions without regard to disability, military/veteran status, or any other legally protected status, and is committed to providing equal opportunities in terms of its recruiting and hiring practices.

Applicants requiring reasonable accommodation in the application process should notify Human Resources.

Torrington Savings Bank participates in E-Verify and will provide the federal government with your Form I-9 information to confirm that you are authorized to work in the U.S.A.

EOE/AA/D/V

Torrington Savings Bank is a drug free workplace.

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