Overview
Commercial Loan Documentation Admin Jobs in New York City Metropolitan Area at Valley Bank
Title: Commercial Loan Documentation Admin
Company: Valley Bank
Location: New York City Metropolitan Area
The loans being serviced are middle market commercial loans, which include companies with revenues ranging from $25 million to $2 billion. These loans encompass Asset-Based Lending (ABL), Syndications, and have a specialty focus.
Job Description
Responsibilities include but are not limited to:
Act as liaison between loan officers and customers.
Request and review loan documents for the more complex loans, upon receipt from the Lender — typically loans that are to close without outside counsel.
Complete commitment letters for Commercial loans in compliance with Loan Offering requirements.
Perform UCC and property searches or OFAC and SOS searches as required.
Perform post closing review of documents for propriety and completeness.
Follow up on expiring insurance policies to assure continuity of coverage on the Bank’s collateral.
Investigate and determine the approval for release of collateral and loan documents on paid loans.
Review and investigate overdrafts on a daily basis, to assure resolution of any open items prior to the Bank’s cut off time.
Monitor and update ticklers system for policy and document exceptions, insurance information, and financial data, to include contacting customer / CPAs / insurance companies for expired information.
Create new collateral files and file documents in existing files or scan documents, as necessary.
Follow-up for outstanding documentation exceptions on new loans.
Release documents on paid loans.
Review on a daily basis the Over Draft Report and follow up on Commercial accounts for payment / rejection within the Bank’s daily cut off time.
Assist Loan Officers on expired line renewals as necessary.
Assist Department staff with their assigned tasks as needed.
Monitor AML/ BSA Compliance and update utilizing various ticklers or direction from Manager or Lenders.
Follow up on past due accounts.
Problem resolution on customer inquiries.
Process advances and paydowns on loan portfolio.
Process extensions and construction advances and issue official checks at closings.
May prepare wire transfer requests.
Required Skills:
Excellent verbal and written communication skills.
Ability to prioritize and organize assignments.
Ability to handle multiple tasks simultaneously.
Intermediate PC skills using Microsoft office applications.
Required Experience:
High School Diploma or GED and a minimum of two years’ related experience.
