The Loan Operations Officer is responsible for leading the Loan Operations Department’s processes, procedures, workload, and team members. This position will maintain knowledge of regulatory requirements and perform the due diligence needed to ensure complete and accurate operational tasks. This position will maintain a client focus and deliver a superior client experience for consumer and commercial loan-related products and services.
Essential Duties and Responsibilities:
- Leads, mentors, and supports the Loan Operations team to provide training, direction, and development.
- Supervises the performance of direct reporting team members while providing guidance and support for individual development needs.
- Coordinates and monitors the department’s daily functions to ensure appropriate workloads and tasks.
- Maintains advanced knowledge of loan operations systems, processes, policies, and procedures.
- Creates, updates, and maintains written assigned Bank policies and department procedures.
- Works with internal team members to identify and implement process improvements that enhance the client experience and department efficiencies.
- Leads and directs operational department projects and resources.
- Hosts monthly team and individual one-on-one meetings with direct reports to gain insight, contributions, and feedback.
- Recognizes training needs, assists in early detection of errors or problems, and provides input to management regarding training opportunities.
- Acts as a liaison between the operations team and the banking teams. Provides feedback regarding errors or procedure changes.
- Supervises and streamlines all aspects of the loan process, including but not limited to loan documentation, booking and boarding, loan accounting, loan reporting, quality control, and check-backs.
- Prepares reports for committee meetings, internal audits, or examinations.
- Completes SBA 1502 and CRA reporting.
- Works with system providers to utilize applications to the fullest capacity, streamline processes, and ensure accuracy and compliance. Analyzes, prepares, and trains team members on system updates and verifies that enhancements are working correctly.
- Maintains current product knowledge as well as knowledge of previous product offerings.
- Serves as an engaged member of the Bank’s internal Compliance Committee by attending monthly
- Answers incoming calls or emails to provide excellent client service regarding technical and operational support.
- Reviews documentation and department work products for completeness and accuracy.
- Performs the duties of the Loan Operations Specialist as needed, with duties including but not limited to booking and boarding new, extended, and renewed loans, loan documentation, loan accounting, and loan reporting.
- Performs the duties of the Loan Servicing Specialist as needed with duties including but not limited to account maintenance, loan servicing, loan accounting, and loan reporting.
- Assists the Senior Management Team and other departments throughout the Bank with special projects and functions
- Performs all job functions and interactions with fellow Bank team members, clients, vendors, and prospective clients within the guidelines of the DRAKE BANK Core Values: Dedicated, Reliable, Authentic, Knowledgeable, and Ethical
- Performs other duties as assigned
Regulatory Compliance Requirements:
- Responsible for department compliance with loan operations-related regulations and best practices.
- Obtains satisfactory or better results on all internal and external examinations and audits.
- Continually enhances knowledge of regulatory and compliance issues through completion of all required online training and attendance at in-house and external training presentations
- Performs all job functions in accordance with Federal and State regulations and within banking policies
Education and Experience:
- Bachelor’s Degree in Finance, Accounting, Business related field, or related experience.
- Five (5) or more years of experience in Loan Operations.
- Three (3) or more years of professional leadership experience.
Knowledge / Skills Required:
- Experience using various computer programs and systems, including but not limited to Microsoft Office Suite, LaserPro, and Fiserv Premier applications.
- • Excellent understanding of loan processing and documentation, systems, customer service, internal controls, and transaction flows.
- Strong ability to supervise, manage, lead, and motivate subordinates to perform at their optimal potential.
- Knowledge of departmental policies, procedures, and workflows.
- Self-starter with a passion for compliance and appreciation for the rules.
- Excellent verbal and written communication skills, including phone, computer, speaking, listening, and presenting.
- Ability to listen and speak clearly and effectively to others and negotiate acceptable resolutions.
- Strong time management, attention to detail, and organizational skills with the ability to multi-task.
- Ability to establish and foster strong professional relationships with employees and external sources such as clients.
Drake Bank provides competitive salaries and an excellent benefits package.
Drake Bank is an Equal Opportunity Employer.
Job Type: Full-time
How to Apply:
Please send your resume to HR@drake-bank.com.