Loan Operations Specialist

Job Title

Loan Operations Specialist

Job Description

Assist lenders and loan associates by performing a variety of duties to insure accurate loan documents in a timely manner. Other responsibilities include special projects as assigned by management to develop procedures and processes including implementation, if required.

Loan Operations Specialist performs most complex duties, assists with special projects as assigned by Manager, assists Management in procedure writing and determining department processes to minimize risk and maximize efficiency for the Bank.

Duties and Responsibilities:
1. Laser Pro
a. Process and correct all loan requests in a timely manner.
b. Review completed loan documents for compliance and documentation accuracy.
2. Loan Booking
a. Reconcile all undisbursed Loans in Process (ULIP, Mortgage Loan Warehouse
accounts and Serviced Participation Loan general ledger accounts on a daily
b. Book/process all loans as requests are received.
c. Review and make necessary corrections to transaction and exception report.
3. Maintenance
a. Review system generated reports with loan documents to verify the accuracy of
new loans boarded to the bank’s core system.
b. Receive, log, review, and prepare original promissory note packages for
4. Paid Loans
a. Complete required Collateral Release forms to be distributed to loan officers on
a daily basis.
b. Prepare required documents to cancel liens on collateral as instructed.
c. Maintain a system for mailing paid loan documentation to the required parties.
5. Insurance and Escrow
a. Maintain insurance policy records by collecting proof of insurance, processing
insurance payments, and managing compliance.
b. Oversee all escrow accounts to ensure insurance and taxes are current.
6. Pre-Closing and Post-Closing File Review
a. Schedule pre-closing appointments with lending personnel.
b. Conduct an accurate and timely review of credit and collateral loan packages
prior to loan funding to assist in the location and correction of any
documentation exceptions or regulatory violations.
c. Conduct a review of all loan denials and withdrawals for documentation
exceptions and regulatory violations.
d. Enter, verify, and update the appropriate information on the bank’s HMDA LAR
tracking software on all HMDA applicable applications.
e. Take part in the re-occurring HMDA file review
7. Consumer Real Estate Department
a. Ensure the necessary documents are received from the lending officer and loan
representative that are required to process consumer real estate loans.
b. Assure compliance with all consumer real estate regulations, policies and
c. Complete appraisal and title search request and verify information is accurate.
d. Work with loan officer and loan representative to obtain adequate insurance
prior to closing.
e. Generate and review all necessary documents prior to loan closing.
8. D & H Software Administration Assistance
a. Maintain current knowledge of compliance changes.
b. Assist with creating or modifying users and loan products as required in vendor
provided software.
c. Assist with, or conduct, end user training for vendor provided software.
d. Monitor open or un-resolved technical support issues with D+H to keep
management current on any issues.
9. Adherence to and support of all compliance and BSA/AML rules and regulations related
to this job function.
10. Performs other duties that may be assigned by Management.

Other Duties and Responsibilities:
1. Answer phones
2. Provide an exceptional level of service to branch personnel, bank vendors, and bank customers
3. Provide support and back-up assistance for additional areas in the Loan Operations
4. Cross-training in additional areas in the Loan Operations Department
5. Assist in completion of “Special Projects”

Education and Experience:
1. College degree in accounting, finance or business. In lieu of a college degree, five years of loan documentation experience.
2. Must be trained in Microsoft Office (Word, Excel, and Outlook) or equivalent processing systems.
3. At least one year of experience in loan accounting systems and processes.

Preferred Skills:
1. Experience in operating a personal computer.
2. Trained in operating general office machines.
3. Knowledge of documents related to the lending area of the bank.
4. Must possess excellent communication (both written and verbal) and organizational
5. Ability to organize and prioritize work without direction from supervisor.
6. Ability to handle high pressure and high volume of work.
7. Ability to multi-task and handle multiple tasks, shifting priorities as required.
8. Exceptional customer service skills

Work schedule will vary depending upon demand, but will consist of an 8-hour shift between the hours of 7:45 a.m. – 6:30 p.m., Monday through Friday. Occasional overtime may be required or Saturday operations. Regular attendance is required.

Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to stand; walk; sit; use of hands and fingers to feel or handle equipment and files; reach with hands and arms; and talk and hear. The employee is occasionally required to climb or balance and stoop, kneel, or crouch. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, depth perception, and ability to adjust focus

Basic Qualifications

1. College degree in accounting, finance or business. In lieu of a college degree, five years of loan documentation experience.
2. Must be trained in Microsoft Office (Word, Excel, and Outlook) or equivalent processing systems.
3. At least one year of experience in loan accounting systems and processes.