Loan Operations Specialist

Job Description

Job Description

Job Summary

The Loan Operations Specialist plays a key role in ensuring the accurate and timely administration of the bank’s loan portfolios throughout the entire loan lifecycle. This position focuses on loan transaction processing, loan account maintenance, escrow management, loan documentation, funding coordination, and exceptional customer support.

The ideal candidate is detail-oriented, highly organized, and adept at managing multiple priorities in a fast-paced banking environment. This role requires strong communication skills, sound judgment, and the ability to collaborate effectively with internal departments, external partners, and clients while maintaining full compliance with regulatory and policy requirements.

Essential Job Functions

Loan Servicing & Account Administration

• Accurately set up and board new loans into the bank’s core system (e.g., Horizon) based on approved credit terms and documentation.
• Process payments, payoffs, rate changes, advances, and principal or interest adjustments for commercial, real estate, and government-guaranteed loans.
• Maintain and update accounts for modifications, extensions, renewals, and covenant compliance.
• Ensure accuracy of accruals, amortization schedules, and general ledger entries.

Escrow, Insurance & Tax Management

• Manage escrow accounts and ensure timely disbursement of tax and insurance payments.
• Track insurance renewals and verify compliance with internal and regulatory requirements (e.g., flood and hazard insurance).
• Conduct periodic escrow analyses and communicate shortages or overages to borrowers.
• Set up and monitor delinquent property taxes.
• Maintain organized records of insurance and tax documentation for audit and compliance review.

Customer & Internal Support

• Serve as a key servicing liaison to Relationship Managers, Credit Administration, and external vendors.
• Respond to customer and internal inquiries regarding loan payments, balances, escrow accounts, and payoff requests.
• Prepare payoff statements, satisfaction letters, and other loan related correspondence.
• Research and resolve discrepancies or servicing errors efficiently and professionally.
• Support Relationship Managers by providing timely and accurate loan information.

Loan Documentation & Funding Coordination

• Assist in preparing, reviewing, and processing loan documentation for accuracy, completeness, and compliance with approved credit terms.
• Retrieve and verify required documentation (e.g., title reports, flood certifications, insurance policies, entity documents).
• Coordinate with documentation and funding teams to ensure all closing and post closing conditions are met before disbursement.
• Review executed documents for completeness, signatures, and notary requirements before final funding.
• Maintain organized digital and physical loan files across shared systems and repositories.

Post-Closing & Compliance Oversight

• Track and monitor post-closing items such as recorded documents, ALTA policies, and UCC filings or continuations.
• Maintain ticklers for insurance expirations, covenant compliance, and renewal dates.
• Assist with regulatory and internal compliance reviews to ensure all records meet audit and retention standards.
• Support periodic portfolio reviews and examinations by providing requested data and documentation.

Other duties as assigned.