Loan Operations Specialist at Locus

Richmond, Virginia, United States -

Full Time

Start Date

Immediate

Expiry Date

17 Feb, 26

Salary

57000.0

Posted On

19 Nov, 25

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Organizational Skills, Decision-Making Skills, Adaptability, Communication, Writing Skills, Word Skills, Excel Skills, Windows File Management, Web Research Skills, Outlook Familiarity, Team Collaboration

Industry

Financial Services

Description

Description About Locus: At Locus, we know communities thrive when they have equitable access to capital. We collaborate with stakeholders across the community development ecosystem to invest in communities with strong aspirations, while addressing challenges like a shortage of affordable housing, limited access to fresh food, a lack of quality jobs, and clean energy innovation. We believe a capital system that centers community input and impact is essential to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving places. Locus is the parent organization for a family of community development enterprises, which includes a nonprofit CDFI loan fund, a CDFI bank, a fund management practice, and a national guarantee program. With offices in Christiansburg and Richmond, Virginia, Locus offers innovative and flexible financing tools and strategic consulting services to individuals and organizations in underestimated and excluded communities, most of which are low-to-moderate income. Alongside our many partners, Locus has generated over $2 billion dollars in total impact. Locus is a nonprofit holding company regulated by the Federal Reserve. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org. Position Overview: The Loan Operations Specialist responsibilities will include but not limited to booking loans on loan system, imaging loan documents, verifying and auditing loan input, following up for loan documentation files, maintaining document tracking exceptions, performing loan research, and processing loan payoffs. Essential Duties and Responsibilities: Loan Booking Book and verify new loans, renewals, modifications, letters of credit and guidance lines of credit for commercial lending Book and verify new SBA loans Post-closing loan review Arrange loan ACHs Post payments, draws, and principal reductions Edit loans booked to loan platform for accuracy Participation loan processing both purchased and sold Clear loan unposted transactions General loan account questions/research Execute recording/release of applicable documents Document exception tracking/reporting Update adjustable rate on all loan accounts GL Reconcilement Balance multiple general ledger loan clearing accounts Filing Scan, index, and verify loan files to core system accurately Filing of all physical loan files Scanning trailing documents and filing them in the appropriate loan file Work closely with the lenders and auditors to retrieve files for review Paid Loans Releasing collateral on loans such as UCC's, Titles, and Deeds of Trust Sending paid loan documents to customers Segregating and storing the paid off loan files Process loan payoffs to include collateral releases UCC Continuations Filing of UCC Continuations Insurance Monitoring Review exception reports to ensure that proper insurance coverage is maintained Coordinate force placed insurance coverage when necessary Customer Service Assist External and Internal Customers with questions or issues as they arise related to Loans Reporting Serve as back-up for semi-annual USDA Report Review and update monthly Loan Tickler Report Review and update daily Loan Payment Report Review and update monthly Post Closing Exceptions Report Review and update monthly UCC Continuation Report Review and update weekly SBA Payment Report Serve as backup for daily File Maintenance Report Review and update monthly Closed Loan Report Serve as backup for the weekly Purchased Participation Report Serve as backup for the Interest Due Review Report Other Duties Backup for Operations personnel Perform other duties as directed Requirements Experience/Education/Certifications: Minimum high school diploma and 3 to 5 years of experience in a commercial bank lending environment Knowledge of accounting is a plus Skills Required: Organizational Skills Well-developed Experience/Education/Certifications: organizational and decision-making skills, adaptability to changing priorities Ability to meet deadlines and oversee multiple responsibilities simultaneously Able to set one's schedule and execute according to a plan, seeking effective and efficient results Communication Ability to communicate in a clear, comfortable, and confident manner Communicate effectively and in a way that supports teamwork Demonstrate ability to write in a clear, concise and organized way Computer/Technology Excellent Word, Excel, and Windows file management skills mandatory Demonstrated web research skills Familiarity with Outlook, Teams, or similar network-based email and calendar software Compensation and Benefits: $47,000 - $57,000 annual salary, depending on skills and experience Annual bonus opportunity 18-days of PTO per year 13-paid holidays per year Medical, dental, vision, short- and long-term disability insurance Life Insurance Paid Family Leave options 401k savings plan with employer match Locus is an Equal Opportunity Employer. Locus does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disability, or status as a veteran.

Responsibilities

The Loan Operations Specialist is responsible for booking loans, verifying loan input, and maintaining document tracking exceptions. Additional duties include processing loan payoffs and assisting customers with loan-related inquiries.