Commercial Loan Specialist Job Description
Commercial loan specialist
provides payoff quotes, transacts the payoff in core and processes the paid loan paperwork including the preparation of collateral releases.
Commercial Loan Specialist Duties & Responsibilities
To write an effective commercial loan specialist job description, begin by listing detailed duties, responsibilities and expectations. We have included commercial loan specialist job description templates that you can modify and use.
Sample responsibilities for this position include:
May perform preliminary analysis on title insurance commitment reports including title exceptions, and responsible for preparing title/escrow instructions including reviewing final title policy to ensure it complies with the title/escrow instructions and confirms that the bank’s lien position is accurate
Regularly serve in a problem solving capacity providing client service for loan products
Ensure loans are booked timely and loan proceeds are disbursed in accordance with loan approval
Package loan documents post-closing and submits for imaging
Understand client needs and identify opportunities to improve and resolve client service issues related to the extension of commercial credit
Set up, process, and monitor documents, and files for commercial loan package completion to meet lending specifications
Monitor existing loans to ensure complete conformity with terms
Process advances of funds for payment of credit accounts at the request of the borrower or Commercial Relationship Manager
Monitors new loans assigned using work queues for incoming work tracking work in process
Receives electronic file from U/W or PM, reviews Credit Approval/Credit Memo and utilizes conditions set and Loan Checklist to determine due diligence requirements
Commercial Loan Specialist Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Commercial Loan Specialist
List any licenses or certifications required by the position: GL, PC, LLC, WLO, CIP
Education for Commercial Loan Specialist
Typically a job would require a certain level of education.
Employers hiring for the commercial loan specialist job most commonly would prefer for their future employee to have a relevant degree such as Doctoral and Bachelor's Degree in Education, Business, Finance, Graduate Education, Accounting, Real Estate, Communication, Legal, Associates, Financial Analysis
Skills for Commercial Loan Specialist
Desired skills for commercial loan specialist include:
Loan documentation
Collateral review
Exceptions
Payment and loan systems
Lending processes and procedures
Banking processes helpful
Borrower based lending
Multiple collateral properties
Banking processes
Regulation CC
Desired experience for commercial loan specialist includes:
2-3 year’s previous commercial loan administration and/or retail banking experience or the equivalent in office experience
Responsibility for the review and verification of commercial loan system reports to ensure new loan set-ups, modifications, extensions, maintenances and monetary transactions are entered property
Accurately and efficiently processes incoming transactions to the loan system
Developing and preparing reports and records relating to Commercial loans as required
Responsibility to ensure all loans are set-up and serviced as per loan documents and bank policy
A minimum of 2 years’ or more previous work experience in a corporate setting
Commercial Loan Specialist Examples
1
Commercial Loan Specialist Job Description
Job Description Example
Our company is looking for a commercial loan specialist. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for commercial loan specialist
- Analyze collateral documentation and loan information in the bank's accounting system (AFS) and credit approval system(s) as needed, adding collateral records to loan servicing system
- Perform maintenance of collateral records in loan servicing system
- Prepare and record various collateral related documents (Ex, Mortgage, Mortgage Release, UCC filings, vehicle liens)
- Communicate with loan officers and other internal customers regarding collateral
- Work with outside agencies (title companies, county recorders, ) in order to resolve problems
- Prospects for new relationships "leading with Treasury" for the bank within an assigned territory or business segment
- May assist in developing and implementing procedures to maximize efficiency and provide excellent customer service
- Ideal candidate may participate in projects requiring coordination with other teams
- Review loan documents to the approval memo, ensuring that key items match
- Interpret the documents as to the structure of the loan so that onboarding may be done accurately the first time
Qualifications for commercial loan specialist
- Experience in an automated loan origination environment preferred
- Strong understanding of all Business Banking and Commercial loan products
- Strong knowledge of Business Banking and Commercial Lending Credit Policy/Guidelines
- Knowledge of B2B, CCAS, AFS, Loan Doc Prep System (or equivalent systems), and other banking systems preferred
- Completion of Documentation Preparation certification program (future)
- Excellent knowledge of most common vendor documents # title work, appraisals, flood determinations, lien searches
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Commercial Loan Specialist Job Description
Job Description Example
Our company is searching for experienced candidates for the position of commercial loan specialist. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for commercial loan specialist
- Participation loan servicing
- Maintain the Colson 1502 report on all SBA 7A loans
- May perform ad hoc analysis and reporting and collaborate with Management and/or project team stakeholders
- Enters loan data into document processing software on less complicated commercial and consumer loan products
- Accurately uploads/books loan to the system
- Provides administrative and/or operational support within of the following loan areas
- Maintains files, documents, notes
- Updates computer system with pertinent collateral information and collateral exception information
- Review all loan requests for appropriate authorization, compliance and bank policy standards
- Responsible for verifying completeness of files from start to finish with all necessary documents, signatures required and closing of loan
Qualifications for commercial loan specialist
- Excellent knowledge of loan documents and requirements
- Excellent knowledge of commercial lending and loans
- Thorough knowledge of B2B, CCAS, AFS, RIMS, CHQ, Loan Doc Prep System (or equivalent vendor systems), and other banking systems
- Self-starter and works without direction
- Strong knowledge of most common vendor documents # title work, appraisals, flood determinations, lien searches
- Thorough knowledge of B2B, CCAS, AFS, RIMS, CHQ, Loan Doc Prep System (or equivalent vendor systems), and other banking systems preferred
3
Commercial Loan Specialist Job Description
Job Description Example
Our innovative and growing company is hiring for a commercial loan specialist. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for commercial loan specialist
- Assists with basic and mid-sized loans
- Provides customer service on behalf of loan officers/relationship managers and team leaders
- Will be responsible for disbursement of funds
- Will have to be proficient at using the AFS Construction Lending Module
- Strong knowledge of bank and department systems and processes
- Create and/or maintain management reports, interpreting data and identifying trends and advising management
- Leads continuous improvement and data quality activities change initiatives to align function with corporate and departmental goals
- Demonstrates an understanding of commercial lending products market verticals
- Adherence to regulatory corporate policy requirements for commercial lending, credit risk and operational risk
- Recognize and discuss loan transactions with lending staff and credit supervisor
Qualifications for commercial loan specialist
- Bachelor’s Degree in real estate, business, finance or related area or equivalent experience
- May manage a loan pipeline from origination through to settlement and funding in accordance with Bank policies and procedures
- Provides documentation and Bank policy and procedure guidance to all lending areas
- Updates Exception report weekly
- Verifies all quality control procedures are maintained and monitored
- Majority of loans handled are standard, non-complex in nature
4
Commercial Loan Specialist Job Description
Job Description Example
Our growing company is hiring for a commercial loan specialist. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for commercial loan specialist
- Proactively identify potential risks, and discuss with management contingency plans
- Enter documentation requests into the system application to produce loan documents for closing
- Analyze collateral to ensure flood requirements meet regulation
- May provide training to others
- May act as a subject matter expert/team lead and provide training to others
- Prepares loan documents, including amendments to existing credit facilities, in connection with commercial loans
- Reviewing the documents executed or delivered at closing to confirm that the loan documents have been executed and not modified
- Obtain appropriate supporting documents including title work, flood, and OFAC searches, insurance, organizational documents, real estate collateral documentation and various due diligence items to verify compliance with loan approval and bank closing procedures
- Review credit approval memos and attorney prepared documents for loans to ensure compliance to loan approval guidelines
- Communicates timelines with loan operations, lenders, title companies and attorneys throughout the loan process
Qualifications for commercial loan specialist
- Manages a loan pipeline from origination through to settlement and funding in accordance with Bank policies and procedures
- Handles loans that are more complex in nature ensuring all documentation are in compliance
- Resolves complex issues relating to closings
- Serves as a resource for Loan Specialist I
- 3+ year’s operations, and/or project management related work experience
- Commercial Loan Servicing experience with thorough knowledge of Commercial Loan Accounting
5
Commercial Loan Specialist Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of commercial loan specialist. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for commercial loan specialist
- Coordinates the application of loan deposits and disbursements of loan proceeds to ensure funds are applied correctly and all costs are paid at loan closing
- Provides administrative support to the commercial loan department to process loan requests from underwriting to booking
- Orders all due dilligence required for loan requests assuring all due dilligence complies with applicable regulations, bank policies and procedures
- Responsible for providing outstanding customer service
- May prepare and/or track disbursements, loan documents, reports, obtain credit and/or financial information
- Work with the global Product Manager to manage the entire product lifecycle from strategic planning to tactical activities
- Configure screens and workflows within the global product for use in the EMEA region for both pre-sales and implementation purposes
- Work with partners and appropriate resources to develop necessary language translations of the core product to the different languages within the region
- Specify market requirements for current and future products by conducting market research supported by on-going conversations with customers and non-customers
- Drive a solution across development through market requirements and product positioning
Qualifications for commercial loan specialist
- Resolves more complex issues relating to closings
- Serves as a resource for Loan Specialist I & II
- Works independently and handles loans of a more complex nature along with heavily negotiated loan transactions ensuring all documentation are in compliance
- Minimum one year experience in a financial services related position, preferably commercial lending operations or a real estate related position (title agency, mortgage servicing, etc)
- Working knowledge of Microsoft Excel, Word and Access -- Ability to create and edit basic Word and Excel documents
- Demonstrated problem solving execution