Commercial Loan Processor

Location:

355 North Fifth Street

Indiana, PA 15701

Hours:

Monday - Friday: 8:00AM - 5:00PM

(Additional hours as necessary to meet the objectives of the department)

Function:

Responsible for ensuring accuracy, Compliance of requests and the timely ordering and review of the required reports and ensuring the accuracy of the information on Property Reports, Flood Determinations, UCC Searches (basic & detailed), Business Name Searches, Domestic Lien Searches and Appraisals are completed in accordance with the Commercial Lending and Business Banking Lending Division approval document. This requires an advanced knowledge of lending, applicable banking laws, federal and state regulations, policies and lending platforms. Responsible for ensuring quality control of the operation, audit, and compliance risk of all loan requests prior to documentation.

Duties and Responsibilities:

• Performs reviews on loan applications and modifications through a data field validation process to ensure data integrity is maintained for commercial loan documents.

• Ensures accuracy of loan applications and modifications submitted for Compliance related items by conducting reviews of the following:

  • On-going HMDA, Reg. B (Joint Intent to Apply), CIP, CDD monitoring for procedure effectiveness and training recommendations.

  • Generating Appraisal Disclosures (Reg. B) for loan applications when applicable.

  • Obtain and review Beneficial Ownership for completion and accuracy and perform appropriate OFAC search.

• Responsible for ordering, receiving and review of Property Reports, Flood Determinations, UCC Searches (basic & detailed), Business Name Searches, Domestic Lien Searches and Appraisals in accordance with the loan decision application conditions:

  • Ordering the required reports according to approval conditions and collateral requirements or the Portfolio Managers modification request.

  • Tracking orders with Vendors and notifying and distributing reports to Bankers to schedule loan closings without interruptions.

  • Maintains logs and reports to be used by Management.

  • Preparation of flood worksheet including verifying all required items are present (flood determination, signed flood notice, adequate flood insurance coverage).

  • Ordering UCC searches (basic and detailed), and business name searches.

• Manages the review and distribution, while ensuring the accuracy and completeness of the Property Reports, Flood Determinations, UCC Searches, Business Name Searches, and Appraisals in accordance with the approval of the loan application/modification by:

  • Analyzing and reviewing the reports and comparing them to each other and the approval to ensure the information coincides with each other. Distributing the reports to the Bankers once received and reviewed.

  • Working with Underwriters, Portfolio Managers, Quality Control Analysts and Bankers on rectifying differences between the required reports and the loan approval conditions to ensure all are within compliance (i.e. judgments, tax liens, incorrect parcel numbers and/or addresses Borrower's Legal Name, etc.).

  • Ensures all reports are attached to the loan origination system once accuracy has been validated.

  • Working with the Commercial Loan Documentation Processing Supervisor to correct any differences that may arise during the documentation process. Working with the various Vendors to have information corrected on reports in a timely manner. Additionally, corresponds with outside counsel as needed to ensure validity of supporting documents.

  • Completing the Flood Insurance Worksheet calculations for loans and modifications to ensure the Bank obtains adequate flood insurance coverage.

  • Reporting all errors and findings and recommending ideas and actions to improve processes and procedures.

• Responsible for the daily reconciliation for the Appraisal General Ledger account.

• Remains current with all federal, state regulations and S&T Bank Policies.

• Obtains & maintains proficiency in the loan origination system software, Microsoft Office (Word, Excel, & Outlook), internet searches, core operating system (FIS), imaging system, applicable vendor software along with the upgrades to these programs or replacement software and any other conduit available to process all orders as well as prepare required documentation.

• Acquires and maintains a thorough knowledge of all applicable banking laws / state and federal regulations and the Bank's Corporate & Lending Policies / Underwriting Manuals to ensure compliance.

• Advances knowledge through further education and/or obtaining certifications and attending training, where appropriate, on regulatory, platforms and audit issues or concerns.

• Maintains a positive and productive working relationship with all co-workers, vendors and bank customers. And demonstrates positive interpersonal skills with the ability to work independently as well as motivated to work as a team player to contribute to the success of the department and the Bank.

• Performs additional job duties as needed

Education:

Requires a high school diploma or equivalent basic academic education.

Experience:

Requires two to five years general business experience and two to five years specialized experience in Commercial Lending, Document Regulatory knowledge.

Physical Demands:

This work can be performed at multiple locations. Operates a keypad device 70-80% of the day, operates electronic equipment 10-20%. Primary parts of the body involved include fingers, thumb, hand, wrist(s), elbows, upper torso. Sitting 80-90% of the day. This work can be performed with reasonable accommodations.

Offered rates and salaries may vary based on geographic location, market data and on experience, education, and evidenced position specific skill requirements.

For roles that are incentive eligible, payment is based upon the plan document and company, business, and/or individual performance.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)

Salary Range: