Commercial Loan Servicing Administrator

Location
Herndon, VA
Posted
Jul 16, 2021
Closes
Aug 15, 2021
Ref
2021-1744
Function
Administrative
Hours
Full Time
Overview

For more than 70 years, Northwest Federal Credit Union has provided valuable financial products and services for our members. Northwest offers employees a comprehensive benefits program including: medical and dental plans, paid time off, a generous 401k match, student loan assistance, parental leave, and the opportunity to grow professionally through a wide range of job-based, classroom and online training resources. Northwest Federal Credit Union has been recognized, for the second consecutive year, as a 2021 Top Workplace by The Washington Post and we believe that our success is built upon the excellence and achievement of our employees. Together, we serve and inspire to transform lives.

Utilizing a comprehensive knowledge of commercial/SBA/USDA standard operating procedures, Commercial Loan Servicing Administrator will provide support for daily servicing for all commercial loans, participations and loans guaranteed by the U.S. Small Business Administration (SBA) and U.S. Department of Agriculture (USDA) to ensure compliance with SBA, USDA, NCUA and Credit Union lending policies and practices.

Responsibilities

  • Review loan documentation including any modifications and amendments to assess loan quality
  • Conduct post-closing audits
  • Provide timely and adequate notice to the Small Business Administration (SBA) and U.S. Department of Agriculture (USDA) on past-due loans to protect the SBA and USDA Guarantee; including assisting in the clearing of all financial and collateral exceptions that affect the Conventional, USDA and SBA loan guaranties
  • Must be able to translate information from legal loan documents into Commercial Servicing systems (FICS Commercial Servicer) and insure accurate information in regards to term loans, rate options, changes, re-pricings, advances, pay-downs and ensure the accuracy of monthly statements are represented properly on the loan servicing system
  • Covenant tracking of Borrowing Base Lines of Credit, insurance, UCC filings, Tax monitoring, and financial monitoring
  • Research and resolve problems or discrepancies related to loan servicing
  • Work collaboratively with Commercial Lenders, Credit & Risk, and other Lending representatives at the Credit Union regarding Commercial/SBA/USDA loan transactions
  • Work with Live Oak or other partners including the creation of loan file folders, set up of participation loans in the Commercial Servicing system, complete necessary accounting vouchers, process business Line-of-Credit disbursements, perform wire transfers, prepare any supporting documentation and post all incoming participation loan payments
  • Answer and respond to telephone calls and email inquiries related to all aspects of servicing business members
  • Prepare management reports as requested and provide feedback when requested
  • Adhere to Bank Secrecy Act (BSA) regulations and all related Credit Union policies and procedures
  • Perform other related duties as assigned


Qualifications

  • High-School diploma or equivalent
  • Minimum 1-2 years of experience with commercial/small business lending, credit analysis, familiarity with credit/compliance policies and procedures, loan analysis or other directly related experience
  • Knowledge of laws and regulations governing business and consumer loan servicing practices as well as collection practices
  • Knowledge of legal documents required for Commercial/SBA/USDA loans including releasing liens
  • Proficiency in all facets of commercial lending to include the origination of commercial credit facilities such as lines of credit, term loans and commercial real-estate mortgages, loan underwriting and credit analysis, preparation of credit memorandums, and knowledge of commercial loan documentation and collateral


EEO Notice

Northwest Federal Credit Union is an Equal Opportunity Employer and will consider all qualified applicants without regard to race, color, age, religion, sex, sexual orientation, gender identity, genetic information, national origin, disability, protected veteran status or any other classification protected by law.

NWFCU complies with federal and state disability laws and makes reasonable accommodations for applicants and employees with disabilities. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact the Human Resources Department at 703-709-8900 or HRDepartment@nwfcu.org.