Department: Loan Operations
Supervisor: Vice President – Loan Operations Manager
Type of Position: Full Time, Non-Exempt, On-site
Location: Fitchburg, WI
Date Generated: 10/25/2024
Position Overview
The Loan Operations Specialist is responsible for processing and monitoring the bank’s loan portfolio which includes commercial, residential mortgages including secondary market, consumer and HELOC loan products. Applies knowledge of software, systems, regulations, and policy for efficient loan processing and audit success. Collaborates most closely with lenders as well as credit and third-party vendors in support of our clients.
Position Responsibilities
- Onboards loans and performs daily maintenance on loan accounts with the bank’s core system.
- Reviews and analyzes daily loan accounting system reports to balance and maintain the loan portfolio.
- Conducts audits on new and renewed loans booked, file maintenance completed, and for compliance purposes including HMDA, flood, residential mortgage quality control and collateral audits.
- Reviews and sends loan billing statements/notices including annual disclosures and processes loan payments including payments for participations.
- Conducts the loan escrow real estate tax payment and loan account analysis process.
- Quotes and posts loan payoffs, prepares documents and processes the release of collateral.
- Completes loan related inquiries for internal and external requests such as verification of loan/liability, verification of mortgage and other credit inquiries.
- Monitors third party vendor system for delinquent real estate taxes and accurate real estate collateral reporting
- Researches and resolves credit bureau disputes via E-Oscar while monitoring FCRA and metric reporting.
- Proactively monitors and follows up for insurance tracking (including flood, real estate, business personal property and force placed insurance when necessary) and other collateral related monitoring (UCC continuations).
- Reports and balances loans and funds for various programs including mortgage insurance, secondary market investors and the Small Business Administration
- Ensures accurate loan records in both paper and electronic format.
- Maintains a high degree of knowledge in all bank programs, ensuring timely quality service and accuracy for all activities.
- Works collaboratively within the loan operations team performing daily department tasks such as account and system maintenance, maintaining and developing procedures, and project-related assignments.
- Maintains awareness of legal requirements and best practices, adhering to established bank policies and procedures to mitigate risk.
- Other activities as needed to drive toward our vision and fulfill our mission as a loan operations team and organization.
Position Qualifications
- Associate’s degree in business administration or other equivalent work experience.
- Knowledge of FISERV Premier, E-Oscar, secondary market investor programs and other software systems is preferred.
- Proficient with Microsoft Office programs (ie: Word, Excel) and Adobe Acrobat Standard.
- Demonstrated analytical, accuracy, and problem-solving skills leveraging banking knowledge and experience.
- Attentive to details to assure accuracy, detect errors and provide quality follow through.
- Ability to meet deadlines and prioritize work while working independently.
- Demonstrated ability to multi-task and adapt to evolving technologies and workflows.
- Strong client service disposition along with effective verbal and written communication skills.
- Able to collaborate as part of an overall team, supporting others throughout the bank to achieve goals and objectives.
Compensation & Benefits
- Competitive Wages
- Excellent Group Health Care
- Dental and Vision Insurance
- 401K Retirement Plan
- Flexible Spending/HSA Opportunities
- Special Bank Services Discounts
- Professional Development Opportunities
Schedule Details
Work is performed largely in an office environment. Hours of work are generally during regular business hours (Monday – Friday, 8:00 am – 5:00 pm). There may be some variation in work hours due to special projects, deadlines, or other concerns.
Contact Human Resources at 608.441.6000 for information on current openings or email us at hr@oak.bank.
Note: This position description is not inclusive of all assigned responsibilities and may be amended based upon business needs. We are an equal opportunity workplace. Qualified applicants will be considered without regard to race, color, religion, sex, sexual orientation, gender identity, age, marital status, national origin, disability, Veteran status or any other characteristic protected by law.
*Position level and compensation dependent upon banking and leadership experience.
