Loan Operations Support

Job Description

Job Description

Deerwood Bank is hiring a full-time Loan Operations Support position to work in one of our 14 Minnesota locations. This position is primary support for the Loan Operations Team. As a member of this team, this individual is responsible for a variety of tasks related to proper loan payment posting, boarding new loans, and extensions, balancing of General Ledgers, trouble-shooting loan payment issues while also monitoring the Helpdesk for individual requests and miscellaneous tasks.

Hours : Monday - Friday 8 : 00am - 5 : 00pm

Starting Pay Rate : $20.00 - $24.00 / hour

Major Responsibilities and Duties :

• Trouble-shooting loan payments that have non-posted (daily) Proof and ACH
• Administering participation loan payments and advances, including disbursements to investors and requests from investors
• Boarding consumer and commercial loans
• Reversals and corrections of loan payments made in error
• Generate and apply Participation payoffs
• Balance WIP, Loan Funding Suspense and general ledger outage accounts
• Resolving issues with loan statements including errors or lost statements
• Providing customer service to personnel who have issues with particular loan accounts
• Credit bureau regular reporting and addressing reporting errors or disputes
• Check back on commercial loans via input sheets, approval docs and actual loan documents
• Work and researching FNMA rejects, unapplied accounts
• Create Phoenix custom reports and review a variety of daily reports, making corrections when needed
• Create, review and correct Year End 1098 forms
• Problem loan changes in Phoenix such as non-accrual, charge-offs and check back action by other staff
• SBA reporting, error correction and correspondence
• Waiving loan late fees upon approval from the appropriate authority
• Month-end reports – backup – production, letters of credit, branch reports
• Receive customer phone calls, send emails, and Requested documents via ProSign
• Create Amortization schedules as requested
• Addressing Phoenix field discrepancies due to conversions and mergers or acquisitions
• Creating and updating procedures in One Note
• Other duties as assigned

Regulatory Compliance Requirements :

Incumbent will be responsible for meeting the requirements for all statutes / regulations pertaining to or governing his / her position / department.

Independent Judgment :

The incumbent must use a moderate to high degree of independent judgment to determine corrective actions for errors and disputes in Phoenix. They must be familiar with bank policies, particularly the lending policies. In addition, the incumbent must have sufficient knowledge and experience to examine loan reports, files and records to determine corrective actions. The incumbent will also be responsible for the appropriate handling of customer service issues, tracking / reporting and monitoring requirements for each loan, the ability to differentiate between credit file documents and collateral documents and when it is appropriate to release collateral.

Knowledge, Skills and Abilities Necessary :

Benefits are available to employees working 30 or more hours per week on the first of the month following date of hire.

Deerwood Bank Minnesota locations include : Baxter, Bemidji, Blackduck, Brainerd, Deerwood, Garrison, Grand Rapids, Mendota Heights, Northome, Ogema, Sartell, St. Michael, St. Paul and Waite Park