Responsible for the overall performance of the daily functions associated with processing and servicing commercial, consumer, and residential mortgage loans; monitors all functions for compliance with company policies and procedures as well as implementing new processes/procedures in order to comply with all Federal and State regulations; helps train new employees; helps with in-service training for continuing employees; responsible for quality control of loan files; acts as the point-person for audits/loan review; and ensures that all loan operations activities are performed professionally and delivered efficiently
ESSENTIAL LOAN OPERATIONS FUNCTIONS AND BASIC DUTIES
Books new loans, renewals and extensions for Commercial, Consumer, Residential, Interim Construction, and Participations;
Offers additional support to loan servicers with posting loan transactions on a daily basis, including payments and advances, repayments and payoffs, commitment fees, wire processing, interest rate options, interim construction, participations, etc.;
Offers additional support to loan servicer with processing loan disbursements in system and/or prints disbursement checks;
Reviews collateral, processes requests, and updates systems for fundings and payoffs on a daily basis;
Processes construction draws;
Reviews system reports and ensures that general ledger accounts are balanced daily;
Monitors insurance, tax and other escrow disbursement systems;
Oversees escrow analysis on an annual basis and the disbursement of real estate taxes;
Oversees process to ensure that insurance is current and real estate taxes are paid on collateral real estate. (force places insurance when appropriate);
Oversees quality control function as it relates to loan files and the loan system. Ensures that loan files are complete and loan documents are accurate; Performs any necessary maintenance to loan system to ensure data integrity.
Performs analysis and daily reconciliation of outstanding line balances, fees, and interest accruals;
Maintains IBS Insight interface with Laser Pro;
Works with the Controller/CFO to identify improvements to the General Ledger, Bank Control, and Interface Tables for process controls and operational efficiencies.
Interacts with Account Officers, Credit Managers, and IT personnel to identify improvements for process controls and operational efficiencies.
Keeps current with changes in the FIS core system by reading posted bulletins, participating in local user groups, and taking training courses when appropriate.
Directly supervises loan processors and loan servicing personnel, includes providing coaching and mentoring as well as administering annual performance reviews;
Works with Compliance department to ensure that loans are processed and serviced in accordance with all Federal and State regulatory guidelines;
Assists loan processors in drafting loan documents for all types of loans and fills in for loan processors when absent.
Prepares reports for Board of Director meetings.
Works with Chief Credit Officer and Compliance department to provide all requested loan-related audit/exam items; and drafts responses for all loan related audit/exam findings.
Performs other duties as assigned.
Department functions are effectively and efficiently completed in accordance with established Bank policies, procedures, standards, and related program and legal requirements. Safe and sound lending practices are maintained.
Service and quality goals are met. Suggestions for improved service are developed and implemented. The integrity of the loan portfolio is maintained.
Department policies and procedures are regularly reviewed and modified as needed. Appropriate Departmental and employee goals are formulated.
Loan documents, account records, and related files are complete, accurate, and timely.
Department personnel are well trained, effective, efficiently utilized. Assistance is provided as needed.
Professional business relations exist with customers and external business contacts. Questions and problems are promptly and courteously resolved. Assistance is provided as needed.
Effective working relations exist with Bank personnel and with management. Assistance is provided as needed. Management is appropriately informed.
Loan compliance audits are free from any high priority findings and there are no repeat findings.
Loan compliance exams are free from any violations of law and all regulator concerns are addressed promptly.
Education/Certification:College degree in business, finance, or a related field preferred or equivalent in
Skills/Abilities:Strong leadership and supervisory skills.
Excellent financial analysis abilities.
Solid oral and written communication skills.
Advanced knowledge of Microsoft Word and Excel.
Advanced knowledge of LaserPro Lending software.
Familiarity with FIS IBS Insight a plus
INTENT AND FUNCTION OF JOB DESCRIPTIONS
Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff, and termination decisions. Well constructed job descriptions are an integral part of any effective compensation system.
All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all-inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate.
In accordance with the Americans with Disabilities Act, it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which impose undue hardships on the organization.
Job descriptions are not intended as and do not create employment contracts. The organization maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.
Required Knowledge:Thorough understanding of loan documentation and closing for commercial/retail loans.
General knowledge of consumer compliance laws related to lending.
Complete knowledge of due diligence required for commercial, consumer, and residential loans.
Understanding of flood requirements and title policy requirements and issues.
Understanding of collections procedures and related legal actions.
Understanding of real estate appraisal techniques and general appraisal requirements.
Understanding of construction lending.
Experience Required:Minimum of five years of related loan operations experience.
Supervisory experience required.
Experience handling problem loans and loan workouts.
Experience with the foreclosure process and related litigation.
Experience with audit/exams.
PHYSICAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
Talking:Especially where one must frequently convey detailed or important instructions or ideas accurately, loudly, or quickly.
Average Hearing:Able to hear average or normal conversations and receive ordinary information.
Repetitive Motion:Movements frequently and regularly required using the wrists, hands, and/or fingers.
Average Visual Abilities:Average, ordinary, visual acuity necessary to prepare or inspect documents or products, or operate machinery.
Physical Strength:Sedentary work; sitting most of the time. Exerts up to 10 lbs. of force occasionally. (Typical of office jobs.) Able to lift up to 10 lbs.; ability to bend
WORKING CONDITIONS ISSUES
None: No hazardous or significantly unpleasant conditions in the office where this job is performed.
MENTAL ACTIVITIES AND REQUIREMENTS OF THIS POSITION
Reasoning Ability: Able to apply logical or scientific thinking to define problems, collect data, establish facts, and draw conclusions.
Able to interpret a variety of technical instructions and can deal with multiple variables.
Mathematics Ability: Able to compute discount, interest, profit, and loss; proportion, and percentage.
Able to perform very simple algebra.
Language Ability: Able to read periodicals, journals, manuals, dictionaries, and encyclopedias.
Able to prepare business letters, proposals, summaries, and reports using prescribed format and conforming to all rules of punctuation, grammar, diction, and style.
Able to conduct training, communicate at panel discussions, and make professional presentations.
About Forest Park National Bank
Forest Park national Bank is a full service community bank with a primary customer base in the residential and business districts surrounding the Bank. It was established in 1943 and has operated continuously since then. It is located in the heart of the Madison Street business district in the vibrant business community of Forest Park, Illinois, which is a growing destination place for high quality restaurants and specialty retail shops.