Loan Processor

Job Description

Job Description

General Summary

This position is located at our new BI campus in Muscle Shoals, AL. It is NOT a remote position.

The Loan Processor will be responsible for the initial setup, processing, and document preparation of in-house bank loans. The Loan Processor will possess the knowledge and skills to process both consumer and commercial non-real estate loans while adhering to applicable laws, internal credit policy and regulatory guidelines.

Essential Functions: ****

• Processes consumer and commercial non-real estate secured loans.
• Orders any documentation necessary to complete a loan file.
• Reviews required documentation as it is received to determine if it is accurate, complete and if the information provided requires any further verification or clarification.
• Follows up daily on outstanding documentation to make sure that all loans are expeditiously processed.
• Prepares in conjunction with Bank Independent’s Legal Counsel other legal documentation such as loan agreements, affidavits, subordination agreements, etc. as needed.
• Files and coordinates the filing of titles, UCC’s, affidavits, etc., to ensure proper lien perfection.
• Accurately prepares, processes and reviews loan documents prior to closing to ensure completeness and that they are compliant with applicable regulations and laws.
• Maintains knowledge of all state and federal regulations.
• Provides support to branch employees and other departments as needed.
• Follows up on any outstanding post-closing document exceptions.
• Communicates effectively and frequently with sales officer/relationship banker regarding loan status.
• Performs other duties as assigned, including assisting other team members and manager as needed.

Working Conditions

• Generally good, with little exposure to noise, extreme temperatures, dust or other adverse factors.
• Considerable effort and eyestrain from continued checking on the accuracy of all work leaving the department.
• A high amount of pressure to achieve goals, meet deadlines, and work efficiently and accurately to manage numerous competing priorities.

Minimum Level of Preparation and Training

• High school diploma or equivalent required
• Two years banking experience or bachelor’s degree in business or related field required.

Required Skills, Knowledge and Abilities

• Strong analytical and organizational skills.
• Ability to read and understand complex entity and loan documents.
• Excellent oral and written communication skills.
• Excellent time management and decision-making skills.
• Ability to work in a fast-paced team environment while maintaining a positive and proactive attitude.
• Ability to work well with a wide range of people and be able to adapt to changing situations.
• Have a working knowledge of the Microsoft Office Applications of Word, Excel, and Outlook.
• Must be highly motivated, responsible, and able to work well under pressure.
• Ability to learn and utilize bank software and to follow bank and department processes.
• Ability to work independently and be self-motivated.

Employees are required to perform other duties as assigned by management. Management reserves the right to change this job description as needed.