Sr. Commercial Loan Administrator

Company: Cornerstone Bank
Location: Worcester
Posted on: August 7, 2022

Job Description:

Description:
Cornerstone Bank was formed in 2017, born of a long history of supporting the community, and providing a strong foundation to help people and businesses thrive. Serving Worcester County, Cornerstone Bank's local presence and community-based banking model enables a unique ability to deliver outstanding service, with a personal touch. Cornerstone provides the highest level of service and expertise for individuals, businesses, and community organizations with branch locations throughout Central Massachusetts.

Cornerstone Bank is committed to providing a collaborative workplace where innovation, teamwork, accountability and excellence are recognized and where employees are encouraged to broaden their skills, seek opportunities for professional development, serve their community, and provide outstanding customer service with each encounter.
Being a part of the Cornerstone team has many great benefits and perks. This includes a competitive pay, a generous student-loan paydown program, comprehensive benefit package including, medical, dental, vision insurance and even pet insurance! We offer a 401(k) plan with an employer contribution and match, success-sharing bonuses, paid time off and more!
If you are looking to join a team that is committed to your ongoing professional growth and development, we are looking forward to speaking to you!

We are currently looking for a Sr. Commercial Loan Administrator to join our team. This position reports directly to our VP - Commercial Loan Operations and is responsible for processing and documenting commercial loans under minimal supervision, processes loan files and provides support for Cornerstone Bank in originating and closing Commercial, Commercial Real Estate, Construction and SBA loans by performing the following duties.

Responsibilities and Accountabilities
Reviews the commercial pipeline to ensure loans are dispositioned in accordance with Regulation B.
Provides training for new staff on document preparation and commercial policies and procedures as necessary.
Monitors and tracks missing documentation from loan closings reviews past due documents with VP-Commercial Loan Operations.
Identifies and reviews new customers to assure Commercial Loan Department is adhering to U.S. Patriot Act, by utilizing OFAC review via Watch Dog. Performs credit checks and contracts with outside vendors for services such as environmental, flood certifications and IRS information.
Prepares all documents, including commitment letters, proposal letters and other correspondence from the point of application to the closing of a loan, utilizing internal software, in accordance with Bank approval and regulatory compliance. Works closely with Lender to coordinate closings with attorneys and customers. Works closely with Lender to coordinate closings with attorneys and customers.
Performs pre-closing review of loan documents for other CLAs in absence of Loan Officer or as needed.
Ensures compliance with all applicable regulations.
Ensures all documents required for loan closing are obtained and accurate including insurance binders.
Inputs and maintains customer's credit/legal files in document imaging software.
Prepares Small Business Administration (SBA) program loan packages, authorizations and documentation.
Files UCC for all applicable new loans to perfect lien.
Obtains and updates HMDA/CRA data in LOS system for commercial applications, as applicable, and may work with Compliance department to ensure accuracy.
Processes receipt and submission of invoices through accounts payable system.
Coordinate inspections and title rundowns for construction loans.
Preparation of adverse action notices to customers, ensuring compliance with regulatory requirements.
Updates commercial loan system with financial statements.
Prepares modification documents and covenant acknowledgement/waivers.
Funds attorney via deposit to IOLTA account or wire through WITS system.
Processes lines of credit transfers with loan officer approval.
Works closely with commercial loan servicing staff and consistently provides superior professional service to internal and external customers.
Serves as the Clerk of the Loan Committee; prepares and distributes meeting agenda, minutes and Loan Offerings; processes proxy vote in LOS system on behalf of Loan Committee and Executive Committee.
May be required to participate in projects as it relates to commercial loan administration.
It should be expected that, from time to time, other duties, both related and unrelated to the above, may be assigned and therefore required. Along with ability to support and provide services in multiple locations as required.

Requirements:
Qualifications
3-5 years experience in commercial lending within banking or financial industry preferred.
Demonstrated ability to provide high-level of customer service with a pro-active approach to problem solving.
Strong organizational, verbal and written communication skills.
Demonstrated proficiency with personal computer applications such as Word and Excel
Good analytical skills and high level of attention to detail.
Ability to multi-task and reprioritize tasks throughout the day to ensure deadlines are met, often working independently.
Knowledge of LoanVantage LOS system and COCC Insight core system, is preferred.
Travel to multiple locations required as necessary.
Flexibility to adjust to changing environment, both regulatory and culturally.
Education/Training/Experience
High School diploma or equivalent. College degree is desirable.

PI186824511

Keywords: Cornerstone Bank, Worcester , Sr. Commercial Loan Administrator, Other , Worcester, Massachusetts