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Commercial Booking Associate I
Career Insights for Loan Officer (General)
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Based on New Jersey data
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What they do
A Loan Officer assists customers who apply for loans, and solicits loan applications on behalf of a bank, mortgage broker or other lender. Markets products and provides information on types of loans available, gathers financial and credit information needed to evaluate loan applications; guides the application and approval process. May specialize in loans to businesses or individuals, or in loans to buy real estate.
$101,747 / year median in New Jersey
-26% projected decline
Job Description
PRIMARY PURPOSE
Prepare and board commercial loans as part of the Commercial Closing department. The primary function includes boarding internally prepared and outside counsel documented new loans, renewals, modifications and extensions. The Booking Associate ensures documentation is properly executed and processed on the Bank's core operating systems. In addition, the duties include conducting a second day review of boarded loans.ESSENTIAL DUTIES AND RESPONSIBILITIES
1. Utilize the Commercial Loan and Business Banking Departments' operating systems in order to effectively board new, renewed, extended and modified loans.2. Ensure completion of assigned daily department second day booking verification requirements. 3. Timely respond to inquiries from various servicing and lending departments regarding changes and modifications to existing and new loan boarding data for assigned loans.4. Maintain a thorough working knowledge of the nCino, relevant community banking platform and Premier operating systems. (booking and reporting systems) and department procedures in order to effectively board new, renewed and modified loans. 5. Review loan closing and modification documents and offer necessary changes to the Closing Department in connection with boarding and in response to inquiries for operation control group compliance. 6. Knowledge of applicable compliance requirements for loan operations for response to booking inquires.JOB SPECIFICATIONS
Knowledge, Skills & Abilities- Proficient in MS Office Suite, Salesforce and Fiserv Premier programs.
- General knowledge of the lending process and ability to interpret the policies & procedures governing commercial lending.
- Good understanding of commercial loan documentation and concepts related to the loan booking process.
- Working knowledge of general regulations governing the banking industry, as well as agency guidelines and organization policies.
- Strong interpersonal skills, including ability to effectively communicate with internal commercial customers.
- Strong verbal and written communication skills.
- Detail-oriented with solid organizational skills
- Working knowledge of MS Office Suite, and documentation prep programs.
- Ability to maintain the confidentiality of credit and customer information. Experience & Education
- High School Diploma or equivalent; Associates Degree preferred.
- A minimum of 1-3 years commercial loan processing experience.
- Demonstrated work experience in an office environment. Internal and External Contacts
- Internal contacts include loan assistants, relationship managers, commercial closing administrators, Loan Servicing associates.
- External contact may include borrowers' counsel and title companies.