Loan Operations Specialist

First State Bank and Trust seeks motivated individuals to help our clients and community achieve more. It's a formula that has worked for over 100 years serving the St Croix Valley community. As guides, we work alongside our clients every step of the way, helping them achieve more because we believe achievement is more than a transaction; it's a journey.

And this is the same philosophy that extends to our team. By building a culture of care and commitment, we do more to help our employees achieve more. Focusing on development and career growth, we look to guide our employees on their career journey by providing resources to build and strengthen skills and actively give back and support our community through volunteer outreach and engagement.

We look forward to welcoming you to our team, so we achieve more, together.

Join the First State Bank and Trust team!

Job Summary

The loan department’s mission is to provide lending services, credit analysis, as well as clerical and operational support associated with the risk management, production, administration, and ongoing customer service of all loans. 

The Loan Operations Specialist provides operational and servicing support for the bank’s lending portfolio and assists with the processing of consumer loans. This position works closely with lenders, operations, and processing staff to ensure loans are accurately documented, booked, and serviced within the bank’s systems. 

This position is primarily responsible for supporting loan operations and servicing all loan types, including consumer and residential loans, and processing consumer and residential loans. Responsibilities include loan servicing and maintenance, escrow administration, system management and problem-solving, loan documentation preparation, onboarding loans into the system, and other duties as assigned. 

Job Description

When requested by the lending staff, gather the required information needed for the loan approval process, such as pulling credit reports, etc. Once the Lender approves the loan, obtain all required data and process the loan paperwork for the client’s signature at loan closing. This includes new and renewed credits, modifications, and adverse action files. 

Performance Standards / Competencies:

• Review the client’s loan application to ensure everything is accurate and complete before preparing the necessary loan paperwork. 
• Conduct lien searches/perfections to ensure there are no title liens. 
• Generate and send disclosures in a timely manner. 
• Order appraisals, title insurance, credit reports, verification of employment, flood determination, and coupon books, and submit necessary invoices for payment at the appropriate time. 
• Properly prepare all required documents in an accurate and timely manner 
• Process Adverse Action Notices, as applicable
• Perfect collateral by filing UCC and recording documents. 
• Upload loan-related documents to the document management system (AccuAccount).
• Onboard loan to core banking system (Jack Henry Core Director)
• Prepare and process loan tickets for funding.

Service Existing Loans and Systems Maintenance

Handle day-to-day loan maintenance in assigned areas.

Performance Standards / Competencies:

• Process loan payments and payoffs from clients, title companies, etc. in a timely and accurate manner.
• Handle ODP, maturity, and past due notices. 
• Process loan extensions, modifications, and line-of-credit renewals in a timely and accurate manner. 
• Release documents in a timely manner.
• Assist with various audits related to the lending function to limit bank risk. 
• Post loan charge-off accurately and in a timely manner. Report to IC Systems/eFunds, as applicable
• Monitor exceptions and tickler reports. 
• Assist with paid loan file maintenance. 
• Perform Quality Control (QC) on scanned documents.
• Administer escrow accounts, including distributions, annual analysis, and loan maintenance.
• Manage physical loan files and organize them when necessary. Includes 90-day shred of QC’ed
• Retrieve daily reports and correct any errors expediently, including zero balance loans, payment rejections, and non-post items. 

Provide Strong Internal/External Customer Service

Provide proactive, outstanding customer service individually and as a department to other employees and clients.

Performance Standards / Competencies:

• Always maintain a professional appearance and attitude toward others and the bank.
• Warmly greet all clients calling the branch or entering the lobby.
• Always keep lines of communication open with clients and between departments.
• Listen to and seek to understand the clients’ needs/problems.
• Take ownership of complaints/problems.
• Learn privacy policy and protect client’s information. Adhere to privacy and confidentiality requirements.
• Demonstrate a willingness to take on new tasks and to be a team player.

• 2 or 4-year college degree, preferably in Business Administration, Finance, or a related field, or equivalent work experience.

Minimum Qualifications:

• 1-3 years of experience in business/commercial banking processes is required.  
• Previous experience in a role related to lending assistant, operations specialist, mortgage processor, etc. is a plus. 
• Excellent judgment and independent thinking skills.
• Working knowledge of Cash Management and Commercial Deposit Account services and products.
• Maintains current knowledge of Federal and State laws and regulations, as well as industry best practices, including BSA/ AML regulations and guidelines.
• Strong interpersonal skills and ability to work effectively with Managers and coworkers.
• Strong organizational skills and resourcefulness.
• Strong attention to detail and ability to function effectively in an environment with deadlines and shifting priorities.
• Evidence of the practice of a high level of confidentiality.
• Flexible and adaptable.
• Dependable and reliable.
• Knowledge of Office 365, Windows, LaserPro, Calyx Point, and Jack Henry Core is helpful.