Loan Administration Assistant
General Job Responsibilities
Community Bank Loan Administration Assistants provide support services system wide in various capacities. The assistants in this classification may carry different functional titles but have similar competencies and education and experience requirements. Specific requirements based on the designated responsibilities may be provided at the time of recruitment and hiring. Loan Administration Assistant positions include responsibilities for scanning documents, tracking and reporting, insurance verification, balancing, credit checks, government reporting and other documentation and reporting. The Loan Administration Assistant must possess a thorough knowledge of all bank products and services; fully understand and adhere to all federal and state laws and the policies related to the industry and their particular section; and have the ability to research issues and respond to questions from staff. Loan Administration Assistants report to a Loan Administration Supervisor or Manager. Duties of the Loan Administration Assistant may include:
- Thoroughly reviewing and analyzing all loan transactions for accuracy. Questions any irregularities or unusual occurrences regardless of origin
- Demonstrates ability to understand general accounting principles
- Performs data entry, reviews and submits reports
- Reviews and performs tasks for tracking reports, and tracking exceptions
- Performs documentation and data review of new and renewed loans, loan denials, hmda, for compliance, lien perfections and bank policies
- Performs tasks related to credit bureau disputes, judgments, and law suits
- Performs tasks related to sending, receiving, and cancelling documents recorded and to be recorded.
- Loan Administration Department serves as vault custodian for all loans and collateral documents
- Performs tasks for document imaging of loan documents and verification of images
- Reviews and tracks insurance policies for loans to ensure continued coverage for applicable collateral.
- Performs tasks related to escrow loans
- Reviews loan notices and statements
- Other duties as assigned by Supervisor or Manager
Education and Experience
Education
Graduation from high school or equivalent GED required.
Experience
A minimum of three year’s work experience in the banking industry preferred.