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Virginia Credit Union · 2 weeks ago

Commercial Loan Specialist - Boulders

Richmond, VA

Full-time

Onsite

Entry, Mid Level

Virginia Credit Union is seeking a Commercial Loan Specialist to provide support to the Business Services Team. The role involves loan processing, member account management, and ensuring exceptional service to business members while handling various administrative tasks related to commercial loans.

AdviceBankingFinanceFinancial ServicesMortgage

Responsibilities

Works closely with Business Services Relationship Managers to facilitate and resolve issues on new loan transactions, closings, modifications and renewals

Responsible for documenting the financial information requirements for new loan requests

Set up, process, and monitor documents, and files for commercial loan package completion to meet lending specifications. Review and monitor loan documents for accuracy, completeness and adherence to approval conditions

Ensure correct lien position which may include UCC searches and analyzing title policies/searches

Maintain files with sufficient documentation for third-party review and prepares files for timely audits

Set up loan and financial ticklers to ensure accuracy and timeliness. Responsible for ensuring all closing conditions are met and loans are closed within time frames

Assist the team of Business Services Relationship Managers in obtaining, scanning and archiving information required for underwriting a loan request

May assist Business Services Relationship Manager in ordering third party reports related to a loan request, including appraisals, Phase I/II environmental reports

Review and resolve a variety of member problems/issues regarding products and services

Process loan advances on credit facilities at the request of member or Business Services Relationship Manager

Process funding of loan closings at the request of the borrower, closing attorney/agent or Business Services Relationship Manager

Process construction loan advances during the draw down period. This may include coordinating the third party site inspection, title update and review, and funding appropriate advances based on percentage completion of the project

May negotiate loan-signing dates with members, closing agents and Business Services Relationship Manager

May work with attorneys and other financial or legal resources to obtain the correct, accurate documents to fully protect the credit union’s interests in complying with the approved terms of the credit relationship

Responsible for GL Certification which includes research, balancing and certification

May perform preliminary review of property and liability insurance to ensure it complies with MBL loan policy and procedure

May provide customer service, administrative support and inter/intra office communication support for the department

May perform other duties as assigned

Independently prepare data input sheets and provide required information for loans to be boarded on the credit union servicing system and ensure all loan coding is correct

Review corporate organizational documents to determine appropriate signing authorities and responsible for confirming such entities are in good standing with applicable governmental agencies

May perform preliminary analysis on title insurance commitment reports including title exceptions, and responsible for preparing title/escrow instructions including reviewing final title policy to ensure it complies with the title/escrow instructions and confirms that the bank’s lien position is accurate

Responsible for reviewing property and liability insurance to ensure it complies with loan terms and MBL policy and procedure

Assists Business Banking Relationship Managers in the management of the total account relationship including deposit accounts

Handles member requests for information and resolves problems promptly. Involves Business Banking Relationship Manager when needed

Handles line of credit advances and account transfers per established procedures

Processes loan payments and collects fees

Maintains working knowledge of financial products

Coordinates with internal partners’ referral opportunities

Presents product proposals to members for selected services

Develops long-term solutions for member problems to help ensure business member and account retention

Resolves complex documentation exception issues

Follows up and corrects all documentation exceptions with customers, attorneys, insurance agents, Registrar of Deeds, Secretary of State, etc

Ensures member files are maintained properly and updated promptly when current information is received

Assists Business Services team in monitoring and follow-up of past dues

Receives and directs telephone calls for Member Business Services

Assists other support and MBS RMs as directed

Types letters, memo, etc. as needed

Participates in special projects as requested

Accurately perform all Bank Secrecy Act (BSA) and OFAC functions related to opening accounts, making account maintenance changes, approving and disbursing loans including, but not limited to, OFAC verification, reporting suspicious activity to the Security Department, and completing all required training

Qualification

Commercial loan processingFinancial products knowledgeCustomer relationship managementMicrosoft Office proficiencySales management softwareMultitasking abilityCommunication skillsDetail orientedSelf-motivatedTeam collaboration

Required

Previous commercial loan administration and/or retail banking experience or the equivalent in office experience

Experience in a commercial loan processing environment

Knowledge of financial products and services

Strong written and verbal communication skills

Must be a self motivator

Must be detail oriented and have the ability to work independently as well as with a team

Must be able to identify cross-sell opportunities

Must be able to multitask and work in a fast-paced environment

Proficient in using Microsoft Office applications

Must be able to work with a sense of urgency

Preferred

Knowledge in all areas of commercial and real estate lending including construction to perm, letters of credit, borrower based lending, and multiple collateral properties

Experience in managing customer relationships in a financial institution

Prior experience in selling and servicing business member relationships

Familiar with financial statements and tax returns

Proficiency with sales management software applications

College degree

Sufficient demonstrated experience with results in areas of responsibility may substitute for educational requirements