Loan Operations Specialist I

at Live Oak Bank • Wilmington, NC

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POSITION SUMMARY:

Manages and maintains the bank’s core systems with new or updated loan and lease documentation. The Loan Operations Specialist I is responsible for reviewing the accuracy of what has been imputed into the bank’s systems by following internal procedures and policies.  This includes supporting bank personnel with various questions or inquiries received from the borrower.     

 

ESSENTIAL FUNCTIONS:

  1. Oversees and coordinates booking of all new loans and leases to the core systems in a timely manner. Proficient in all SBA loan booking and review. 
  2. Reviews allocation of funds and makes appropriate general ledger balancing entries for all loan closing requests from outside or internal funding approvals.
  3. Assists loan personnel and borrowers with questions regarding customer billing, payments, disbursements, payoffs, modifications and general ledger reconciliations.
  4. Researches and completes valuations of all in-house desktop appraisals for loan collateral.
  5. Accurately enters documented changes received from loan personnel and borrowers in core systems.
  6. Prepares loan and lease payoff statements and processes received payoff funds.
  7. Manages all loan and lease related ACH transactions including payments, good faith deposits, payoffs, Special Asset requests and modification fees.
  8. Reviews daily/weekly/monthly reports within the loan core system to include exports to various other systems.
  9. Reviews and inputs approved modifications into the loan core system. Assists the Business Advisory Group and Construction team with questions prior to modifications being submitted.     
  10. Analyzes and manages distribution of monthly loan and lease billing invoices.
  11. Maintains and oversees daily upload between loan core system and SalesForce.
  12. Completes general ledger entries for construction disbursements and troubleshoots discrepancies.
  13. Facilitates all money movement for Renewable Energy, Government Contracting, Solar leasing, and Chicken related Live Oak Bank accounts. Includes manual processing of monthly and quarterly payments, refunds, releases and fees.
  14. Complies with Federal, State and SBA Regulations.

 

ADDITIONAL RESPONSIBILITIES:

  1. Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection and determent of money laundering or other unlawful activities.
  2. Functions as a team and realizes all members of the team are vital to its success.
  3. Performs other duties as required.

SKILLS:

  • In-depth knowledge of loan processing requirements
  • Detail oriented with a high degree of accuracy
  • Mathematical skills
  • Organizational skills
  • Strong administrative skills, including computer/word processing skill

 

EDUCATION:

  • Bachelor’s Degree or Equivalent Experience Required

 

EXPERIENCE:

  • Bank operations experience is preferred
  • Loan processing experience is preferred

 

PHYSICAL DEMANDS/WORK ENVIRONMENT REQUIREMENTS:

  • The ability to work the days and hours required to fulfill the essential functions of the position
  • The ability to work long hours and to multitask

MENTAL DEMANDS:

  • Learning, thinking, concentration, creativity
  • The ability to interact with others and exercise self-control
  • The ability to work under stressful conditions
  • The ability to exercise discretion when necessary
  • The ability to manage multiple files simultaneously