Job Offer: Loan Operations Specialist

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Loan Operations Specialist

Title: Loan Operations Specialist

Department: Loan Operations Department

Reports to: Loan Servicing Manger

Date: June 2023

income Range: $49,000 - $67,000

Job location: Middletown, NY or White Plains, NY



Notes:

1. The income range offered for this job offer is a good faith description of the expected income range this function will pay. Orange Bank and Trust Company reserves the right to pay more or less than the stated range located on a variety of factors such as practice, geography, etc.

2. this job offer will require an initial training period which will take place in our Middletown, NY location.

General Summary :  this function provides loan operations support Loan Participation & Construction Specialist and Escrow Specialist. You should consider this description the foundation of your job, not its boundaries. You should expect to participate in activities not described here which enhance the quality of service to the customer. Your success will be greatly enhanced by adopting a learning attitude and by a availability to take on additional responsibilities.

Essential tasks and Job Responsibilities:
1. Provide exceptional service levels and timely responses to external and internal escrow inquiries.
2. Timely disbursement of routine escrow payments preventing late notices and penalties.
3. Review monthly delinquent tax reporting and maintain Delinquent Tax Report for resolution of delinquencies and follow up of outstanding items.
4. Reviews all reports to ensure escrow transactions processed correctly ensuring timely clearing of all balances in general ledger accounts.
5. Sets up new vendor profiles on core as required.
6. Interface with various towns and municipalities ensuring accurate reporting and data.
7. Responsible for researching and clearing general ledger accounts monthly for outstanding payables
9. Monitor Insurance and clear post-closing follow up and exception items utilizing tracking reports. Documenting efforts and correspondence made with loan agents, insurance companies and borrowers to minimize risk and losses incurred.
10. Assist in compiling documentation for loa n audits
11. Administer the construction loan portfolio (commercial and residential) utilizing the Bank’s construction software “Built”. Processes loan advances, reductions, tracks insurance, and applies interest payments.
12. Monitoring of budgets to ensure line items are in balance and proper reallocations
13. Prepare and process construction loan advances and escrow draw requests in conformity with the loan documents and 3rd party reports. This will include communications with borrowers, contractors, title updates and other 3rd party vendors to obtain and validate required information (inspections, lien waivers etc.).
14. Demonstrate compliance with banking laws and regulations as defined by the Bank’s policies and procedures. Exhibit commitment to training and keeping current with changes in the regulatory environment.
15. Maintain and upload updated files for each loan transaction and maintain/update reports connected with loan advances and reserve accounts.
16. Demonstrate compliance with banking laws and regulations as defined by the Bank’s policies and procedures. Exhibit commitment to training and keeping current with changes in the regulatory environment.
17. Assume other tasks including cross-training, assistance in compiling information for loan audit preparation and projects as assigned.

EDUCATION, CERTIFICATION, practice:

Education
Preferred: Four year college degree with major in banking, accounting or business administration. May be substituted with appropriate prior banking practice.

practice :
Required: Minimum three years banking practice that includes Loan Administration and/or Operations
Preferred: practice working in commercial and consumer loans and/ or Loan Operations functions is preferred with practice in construction lending and escrow processing.

expertise, expertise, ABILITIES:

»Effective expertise in written and verbal communication.

»Should possess a working expertise of Federal and State Compliance regulations related to lending, including but not limited to HMDA,&n bsp;Reg. Z, Flood Requirements, ECOA, Fair Len ding and Reg. B including Adverse Action requireme nts and Appraisal Notice Requirements

»Intermediate expertise of Excel, Word, Outlook,&nb sp;and Fiserv preferred

WORK ENVIRONMENT:

»Working Conditions: Office setting

»Equipment Operations :

PHYSICAL DEMANDS :

»Must be able to lift a minimum of 20 pounds.

Special Note:
External and internal candidates, as well as position incumbents, must be able to execute the essential job functions as set forth above. Orange Bank and Trust Company is committed to a policy of Equal Employment Opportunity and will not discriminate against an applicant or employee on the basis of age, sex, sexual orientation, race, color, creed, religion, ethnicity, national origin, alienage or citizenship, discapability, marital status, military or veteran status or any other legally-recognized protected basis under federal, state or local laws, regulations or ordinances.
Upon request, individuals with disabilities may be entitled to a reasonable accommodation. A reasonable accommodation is a change in the way things are normally done that will ensure an equal employment opportunity without imposing an undue hardship on the bank. Please inform the Human Resources Department if you need assistance completing any forms or to otherwise participate in the application process or, at the appropriate time, to execute the essential functions of the job.
This job description in no way states or implies that these are the only tasks to be performed by an employee. Additional functions and requirements may be assigned by managers as deemed appropriate, located on the employee’s expertise, skill and capability as well as his/her mental and physical abilities.