Live Oak is more than a bank. Live Oak helps people realize their full potential so they can create meaningful impact at work, home or in their communities. As an innovation hub, we fully embrace a bold approach to solving problems and surpassing goals. Daily life at Live Oak centers around a culture of taking care of each other, which has made us one of the most desirable places to work. We’ve topped the list of American Banker’s “Best Banks to Work For” because of our unparalleled dedication to our people. Our commitment to our customers and our culture is intertwined, so we seek those who embody and embrace what it takes to empower the American dream. Learn more at liveoakbank.com.
How This Role impacts Live Oak and its People
As a Loan Operations Specialist at Live Oak Bank, you are responsible for protecting the integrity of our core data and maintaining an attention to detail in all in all duties.
What You’ll Do at Live Oak
- Embody Live Oak’s core values.
- Swiftly manage and answer all inquiries and request
- Have an understanding of our core banking procedures
- Help accurately enter documented changes received from loan personnel and borrowers in our core system
- Work closely with other departments to maximize client service and minimize risk to the bank.
How You’ll Do It
- You will oversee and coordinate booking of all new loans and leases to the core systems in a timely manner. Proficient in all SBA loan booking and review.
- You will review allocation of funds and make appropriate general ledger balancing entries for all loan closing requests from outside or internal funding approvals.
- You will assist loan personnel and borrowers with questions regarding customer billing, payments, disbursements, payoffs, modifications and general ledger reconciliations.
- You will research and complete valuations of all in-house desktop appraisals for loan collateral.
- You will prepare loan and lease payoff statements and processes received payoff funds.
- You will manage all loan and lease related ACH transactions including payments, good faith deposits, payoffs, Special Asset requests and modification fees.
- You will review daily/weekly/monthly reports within the loan core system to include exports to various other systems.
- You will review and input approved modifications into the loan core system. Assists the Business Advisory Group and Construction team with questions prior to modifications being submitted.
- You will analyze and manage distribution of monthly loan and lease billing invoices.
- You will maintain and oversee daily upload between loan core system and SalesForce.
- You will complete general ledger entries for construction disbursements and troubleshoots discrepancies.
- You will facilitate 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.
- You will comply with Federal, State and SBA Regulations.
Required and Preferred Experience
- Bank operations experience is preferred
- Loan processing experience is preferred
- Banking Industry experience is preferred
- Make sound decisions to protect the interest of Live Oak Bank
- Bachelor’s Degree required
Required to Thrive at Live Oak
- Dedication – You possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.
- Ownership – You take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.
- Innovation – You embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.
- Teamwork – You foster collaboration, accountability and trust with others and understand that together, we do more.
- Respect – You treat everyone with courtesy, politeness and kindness.
“The above statements are intended to describe the general nature and level of work being performed by the incumbent assigned to this classification. They are not intended to be construed as an exhaustive list of all responsibilities, duties and/or skills required of all personnel so classified.”