Commercial Loan Coordinator

Position Purpose and Objectives

The Commercial Loan Coordinator will provide administrative and operational support to commercial loan officers, borrowers, and credit analysts/underwriters.  The coordinator position will assist loan officers with all areas of business member relationship and act as the primary point of service contact for commercial banking clients, ensuring client satisfaction and retention through timely follow-up and resolution of issues.  The coordinator will have a thorough understanding of commercial loan product types and their related document and due diligence requirements; and can act independently to meet those requirements.  This individual will be responsible for the scheduling and coordination of closings and the preparation and/or review of closing documents for accuracy of legal documentation and ensure a priority lien position for the credit union.  This is a member focused position but requires the ability to work with internal partners and leverage internal resources to provide an optimal commercial borrowing relationship experience.

Major Duties and Essential Functions:

• Assists Commercial Loan Officers in preparation of commitment letters, loan closing documents, and attorney drawn documents, as well as coordinates loan closings with outside escrow firms.


• Prepares modification agreements and ensures accuracy of both legal documentation and system of record.


• Conducts all necessary due diligence for commercial loans to include ordering and reviewing appraisals, environmental reports, title insurance, and corporate searches, uniform commercial code filings, etc.


• Responsible for uploading legal and credit file documentation to imaging system and independent loan servicing provider, as well as maintenance of accurate loan records.


• Ensure loan and credit files contain documents with proper signature, legal descriptions, closing dates and other relevant data along with compliance with federal and state regulations and credit union’s published policies and procedures.


• Responsible for timely follow-up on post-closing items and exceptions.


• Assists Commercial Loan Officers in the preparation of Credit Approval Memorandums and other documents necessary to present a loan for approval.


• Assists Commercial Loan Officers with setting up construction loans for advance inspection requests and monitoring percentage of completion.


• Answers email and telephone requests to assist customers concerning routine and complex loan inquiries and requests.


• Represents the credit union in a positive, courteous, friendly, and professional manner always, including in-person contact, as well as telephone, email, and other methods of communication.


• Assists Commercial Loan Officers with client and prospective client correspondence.


• Assists VP of Commercial Services with report preparation for Board and Executive Management.


• Manages upcoming loan and annual review maturity ticklers, including gathering updated information and obtaining the appropriate approvals.


• Assists commercial lenders in the tracking and maintenance of financial reports and covenants.


• Assists the Commercial Services unit in the management of overdrafts, delinquencies, operational and loan losses within credit union guidelines.


• Assists Commercial Loan Officers with maintaining and updating pipeline information in the Salesforce Customer Relationship Management (CRM) platform.


• Processes loan advance/draw requests for proper approval and disburses accordingly. Disburses loan funds in compliance with loan agreements and credit union approval requirements.


• Partners with branch personnel to coordinate the opening of appropriate operating deposit accounts for business members.


• Identifies cross-sell opportunities and makes the appropriate referral for all credit union business lines.


• Performs other duties as assigned.

Positions directly supervised: 

This role does not supervise any additional positions.

Specific knowledge, skills, and abilities required for this position:

• Knowledge of loan structuring and ability to read and analyze a credit approval memorandum and file to ensure that all documentation and loan packages adhere to loan approvals.


• Knowledge of credit, deposit and treasury products and a broad understanding of operational processes.


• Firm understanding of credit union commercial lending policies, procedures, laws, and regulations.


• Excellent interpersonal and communication skills both written and verbal.


• Proficient in Microsoft Office software (i.e., Outlook, Word, Excel, PowerPoint, etc.) and the credit union’s current loan database and software systems.


• Strong organizational skills, self-motivation, and the ability to handle multiple priorities at the same time.


• Ability to apply critical thinking and problem-solving skills.


• Ability to adapt to changing demands and requirements.


• Ability to work well with credit union members and colleagues.


• Must possess a valid driver's license.

Education:

• High school diploma or GED required.


• Minimum of four (4) years’ experience in a financial institution, preferably with some experience and knowledge of business online banking and cash management products.


• Experience in client service or product support is preferred.

Physical Activities and Requirements of this Position

Working Conditions of this Position

Mental Activities and Requirements of this Position

Compliance requirement

The responsibilities contained within this job description remain compliant with Bank Secrecy Act / Anti-Money Laundering, Office of Foreign Assets Control and USA PATRIOT Act as they apply to the duties of the position.

Disclaimer

The information in this job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job, which may vary on the department or the assignment. The actual essential duties, responsibilities and qualifications may vary by department, reporting structure and other business needs. No inference should be drawn that a specific job duty, responsibility or qualification is non-essential by its absence from this description.