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Choice Bank · 1 day ago

Business Loan Servicing Specialist

Minneapolis, MN

Full-time

Onsite

New Grad, Entry Level

Choice Bank is dedicated to supporting its clients and community through personalized banking services. The Business Loan Servicing Specialist plays a crucial role in the commercial lending function by ensuring accurate loan documentation, facilitating communication between parties, and maintaining loan relationships post-closing.

BankingFinanceFinancial Services

Responsibilities

Responsible for collecting, compiling and inputting accurate loan documentation for all new and renewed loans

Maintains appropriate approval throughout the loan documentation process through closing and initial funding

Ensures compliance requirements are satisfied, approval conditions are met, collateral is collected with evidence of insurance when applicable, and documentation is properly executed prior to closing and funding a loan

Ensures appropriate loan related fees are assessed to the borrower and payments to related third parties are processed in a timely manner

Coordinates the communication between lender, borrower, and involved third parties when necessary throughout the loan closing process to ensure all parties have accurate information and are in agreement

Ensures collateral is collected and perfected at time of closing

Obtain, review, and archive loan documents including but not limited to financial statements, tax returns and business reports, credit reports, appraisals, flood determinations, lien searches, and loan covenants and conditions

Prepare tracking, checklists, coding and set-up forms for new, modified, and renewed loans, including FSA, BND, and SBA loan

Reviews daily reports to ensure loan maintenance accuracy

Processes loan advances and payments daily

Assists Lenders and Borrowers with requests for information or follow up on loan related items

Maintains loan origination platforms for accuracy on borrowers, loan terms, collateral, and tickler tracking

Completes follow up for miscellaneous monthly loan reporting and tracking items

Completes extra projects as assigned by management

Supports, advances and is responsible for meeting Premier Experience service standards

Assists with in-branch customer services needs including but not limited to telephone, teller and account opening functions

Assist with completing special projects and assignments as required by department leadership

Actively participate in internal and external continuing education for mortgage loan operations and leadership

Contain knowledge of company products and services

Have a working knowledge of Choice Financials policies and procedures and comply with them

Maintain complete confidentiality with regards to customer accounts, loans and bank relationships

Project a positive image of Choice Financial when representing the organization

Actively support management and organizational goals

Interact with other employees to promote teamwork, communications, trust and respect

Adapt to meet the ever-changing customer and community needs

Performs duties outside normal scope as assigned

Qualification

Loan Operating SystemsCommercial Loan OperationsMicrosoft OfficeInterpersonal SkillsAnalytical ThinkingProblem-SolvingAttention to DetailOrganizational SkillsEffective Communication

Required

2-year Degree in Accounting, Finance, Business Administration or related field or equivalent combination of education and/or experience in commercial loan operations

Has knowledge of commonly used concepts, practices, and procedures necessary to perform the functions of the job

Assists with departmental projects

Performs assigned duties within the department

Understands and utilizes Loan Operating Systems

Works under regular supervision

Limited to specific duties within the department