Job Description :
Industry Banking
Job Title Loan Specialist
Location Buffalo, NY / Jersey City, NJ (Remote currently)
Duration 12 months (Possibility of extension)
Description:
- This will be a documentation and servicing role. Processing Advance and Payments; Liaison with external vendors and legal for documentation handling; Handling ad-hoc requests from clients about the commercial loans
- Manages the administration of the portfolio of commercial banking loans that required a specialised level of service. Loan portfolio contains loan which require review of draw requests and handling of adhoc requests from commercial customers.
- The servicer is responsible for all aspects of the administration of the portfolio. In administering the assigned portfolio, the administrator will also need to coordinate and prioritise the activities of other members of the Loan Servicing team.
- The role also includes a documentation and closing component to help support our Commercial Real Estate loans, and tracking of legal documents for the business.
- The CMB Loan service team handles loan servicing for the core commercial banking portfolio. Also handled is the documentation component for the Commercial Real Estate portfolio.
- It is the central source between RM, Clients and Operations. We are looking to bring in a contractor due to an increasing portfolio size and projects being undertaken by the team.
Impact on the Business:
- Help manage the administration needs of a diverse, complex portfolio of commercial loans for an assigned business.
- Review and understand commercial banking and commercial real estate loan terms and financial components; identify potential problems and solutions. Engage with counsel and Loan Closing to ensure proper management of documentation.
- Ensure funding submissions comply with applicable internal guidelines, external regulations.
- Responsible for transmittal of loan changes to Servicing to support accurate servicing of the loan. Proper servicing of the transaction ensures maximum recoverability on asset.
Customers / Stakeholders
- Prepare funding documentation and coordinate activities with all parties involved including syndication partners, customer's relationship managers.
- Serve as a knowledge resource and subject matter expert for the business on commercial transactions.
Leadership & Teamwork
- Engage, manage, direct and coordinate all aspects of commercial loan administration to properly manage activity and risk in the assigned portfolio in accordance with loan documents, credit approvals, policy and credit standards.
- Negotiate, maintain and enforce legal, policy and procedural components of loan documents to manage risk and maintain integrity of loan documentation.
- Ensure effective communication with Relationship Managers, counsel, management and colleagues.
- Coordinate activities with other parties including external legal counsel, borrower, and internal contacts and resources.
Operational Effectiveness & Control
- Mitigate and remedy documentation and operational risks, including serving as a screening process for issues impacting loan servicing.
- Confirm that all loan paperwork is handled in compliance with Company procedures and relevant regulations.
- Identify, mitigate and remedy documentation and operational risk, , document exceptions and overall quality control.
- Complete other responsibilities, as assigned.
Qualifications:
- Loan Servicing/Loan experience
- Diploma, some college preferred.
- Looking for 2-5 years of experience, Banking a plus
- Ability to provide servicing of the portfolio
- Any aspect of loan servicing, UCCs
- Loan Documentation
- Personal, customer service
- Project Management, but no people management. Organizing and prioritizing tasks.
- Insurance review background in commercial mortgages
- Full life cycle loan knowledge
- Basic understanding of MS suite
- McCracken program used
- Insurance industry would work as a background option. Not necessarily banking background.
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Company:CollaberaLocation:Buffalo - New York - United StatesJob Types:ContractPost Date:October 22, 2021Valid Through:November 21, 2021