Commercial Loan Administrator - Banking

Cambridge, MA 02138

Posted: 01/15/2019 Employment Type: Contract to Perm Specialty: Accounting & Finance Job Number: 82847

Our client in Cambridge, MA is seeking a Commercial Loan Administrator to join their team. In this contract-to-hire role, you will be responsible for the review and completion of all due diligence associated with the commercial loan documentation/closing process. This includes the satisfaction of approval conditions prior to the preparation of commercial loan documentation and controlling the disbursement of new loan proceeds by originating loan documents or auditing and reviewing attorney prepared documents. This position pays up to $25/hr. Apply today!

Responsibilities for the Commercial Loan Administrator:
  • Respond to internal and external customer inquiries
  • Prepare and obtain necessary loan documentation for new CRE, C&I, Small Business and SBA loan requests
  • Responsible for the post-closing documentation review and enforcing receipt of closing binders and exception items
  • Track all loan collection expenses, vendor fees, good faith deposits and other professional fees
  • Ensure that Standard Flood Hazard Determination Forms have been ordered and received on all Commercial Loans secured by Real Estate 10 days prior to closing
  • Obtain the receipt of Patriot Act Identification Worksheets and verify customer information required on all new and existing Commercial Loan customers
  • Track legal exceptions and work with the Loan Officers, Borrowers and Attorneys to clear them
  • Process the daily overdrafts and return deposited items for the Bank’ s commercial customers’
  • Prepare Commercial Loan advances under existing Construction Loans and Lines of Credit and transfers on existing loans
  • Enter critical data into the DNA core system for the preparation of C-view reports distributed to Sr. Management
  • Prepare internally prepared loan documentation and review the LAS for completion 
  • Assist the Loan Officers with the preparation of commitment letters 
  • Maintain Commercial Loan documentation by scanning/importing required documents 
Requirements for the Commercial Loan Administrator:
  • College education or equivalent work experience
  • 2+ years of banking experience, solid loan operations and documentation management experience
  • Deposit operations experience preferred
  • Strong PC skills including proven ability to assimilate new software applications, Word, Excel, in a windows environment
  • DNA, DocStar, LaserPro and Adobe Professional
  • Ability to handle highly confidential material
  • Technology savvy with a strong knowledge working with Microsoft Office
  • Strong organizational skills with great attention to detail
  • Strong multi-tasking and prioritizing skills with the ability to meet deadlines
  • Excellent written and verbal communication skills
  • Strong interpersonal skills with a customer service focus
  • Ability to work independently and as part of a team
  • Must be eligible to work in the U.S. without sponsorship     
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