Banking & Commercial Loan Processing Clerk, Sr. performs administrative tasks for commercial loan processing. Coordinates with lenders, customers, and external vendors to collect and prepare all required documentation for closings. Being a Banking & Commercial Loan Processing Clerk, Sr. ensures that loan packages are complete, and documentation correctly prepared within required timelines. Inputs and maintains all required transaction and processing records according to procedures. Additionally, Banking & Commercial Loan Processing Clerk, Sr. responds to inquiries. Prepares required regulatory reporting. May require an associate degree. Typically reports to a supervisor. The Banking & Commercial Loan Processing Clerk, Sr. works under moderate supervision. Gaining or has attained full proficiency in a specific area of discipline. To be a Banking & Commercial Loan Processing Clerk, Sr. typically requires 1-3 years of related experience. (Copyright 2024 Salary.com)
Perform operational processing and support to commercial lending, focused on monitoring and servicing commercial and business loan transactions. Review, prepare and finalize loan documents ahead of the disbursement of funds; verify that documentation and work processes are complete and conform to policy. Collect and reconcile invoices. Perform quality control reviews post-closing and facilitate loan funding.
Perform operational processing and support to commercial lending, focused on monitoring and servicing commercial and business loan transactions. Review, prepare and finalize loan documents ahead of the disbursement of loan funds, verify that documentation and work processes are complete and conform to policy. Collect and reconcile invoices to ensure that all fees are accounted for. Perform quality control reviews post-closing and facilitate loan funding. Process credit applications, ensuring that they are fully investigated, analyzed and documented; make valid and timely credit decisions within established limits and present sound recommendations for credit requests above the approval limit. Process and manage requests related to commercial loans and other loan lifecycle events, and oversee processing onto core system(s), ensuring that any errors on accounts are resolved and corrected. Perform account reconciliation and manage any exceptions within the loan program. Perform financial analysis of financial disclosures and prepare internal risk rating, as required. Identify transaction risks and support risk mitigation. Support regulatory and strategic business initiatives, audits and projects.
Liaise and maintain open dialogue with internal business units (e.g. Commercial/Corporate Banking) to ensure the delivery of service levels. Communicate with customers throughout the lending process, as necessary to answer questions, resolve issues and obtain required information. Escalate and present complex loan requests to the appropriate committee(s). Work closely with lending operations partners to coordinate between KYC/onboarding, underwriting and closing activities as part of an integrated approach to delivering a quality loan product.
Demonstrate solid understanding of commercial loan origination, documentation and post-origination servicing activities. Demonstrate strong knowledge and understanding of all applicable regulations and standards related to commercial lending programs. Possess good knowledge of bank accounting/general ledgers, and ability to conduct complex financial analysis.
Recommended years of experience: 3
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