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Loan Associate III
|Location:||Watford City, ND|
Join a culture that encourages innovation, inspires ideas, supports change and doesn’t set boundaries on what success looks like. Recognized seven years in a row for being a Top 50 Best Places to Work isn’t just an award placed on the shelf. It speaks to the teams of colleagues who are dedicated to create extraordinary experiences based on the philosophy of living first.
Interested in learning more? Please see below for additional information regarding the Loan Associate III position and submit your online application!
Position Summary: Under the direction of Regional Loan Associate Supervisor and Loan Associate Manager, provides assistance to the Lending Department by performing the following duties. This position requires a sound knowledge of established procedures, methods and practices. Expected to handle specialized processing work of an advanced nature.
A Day in the Life
Essential Duties and Responsibilities include the following. Other duties as assigned.
- Proficient in all duties of all Loan Associate II and provides mentoring / training of Loan Associate I and II, as needed
- Primarily works Commercial / Ag lending
- Properly enters proposed loan and workflow in loan software and works with the credit analysts to provide proper documentation required for underwriting purposes.
- Attends loan committee meetings for assigned credits
- Calls specified companies to obtain property abstract, survey and appraisal.
- Orders necessary preliminary and final title work. Reviews and analyzes title report or survey to determine issues and any present or potential risk.
- Processes incoming dealer loans
- Originates loan correspondence. Maintains proper correspondence and legal files.
- Works with Loan Operations throughout process of ordering loan documentation, providing information and reviewing completed documentation prior to closing.
- Notifies customer of approval or prepares and mails adverse action forms to applicants.
- Provides support for Loan Officers by handling loan closings in place of Loan Officers (entering information into computer database, generating and assisting customer in completing all required documentation and disclosures, ensuring the customer understands all conditions and terms of the loan)
- Examine loan terms and ensure the loan is properly recorded and funded within established time frames.
- Assists lenders with closing instructions including funds and signatures required for closing.
- Prepares, scans and maintains loan files. Files respective offices’ new notes in vault.
- Ensures timely recording of lien documents to ensure collateral perfection.
- Updates tickler system to note funding activities, interest rate settings and billings.
- Maintains and collects current information on technical exceptions, such as insurance, titles, financial statements, etc.
- Monitor levels of outstanding exceptions and past due ticklers and strives to meet goals and expectations
- Processes extension agreements
- Processes paid notes and collateral releases
- Retrieves and reviews loan reports for completeness and accuracy; corrects non-post or errors.
- Performs loan support duties of complex variety such as charged-off accounts, recoveries, participations and commercial loan accounts
- Responds to customer inquiries including payment questions, payoffs and loan values and services calls to the loan department and directs customers to appropriate lenders if necessary
- Processes loan payments
- Serves as a back-up for Consumer Loan Associates
- Explains, promotes, cross-sells or refers bank, insurance and trust products or services.
- Remains current on policy or procedural changes and new product offerings.
- Attends periodic training to receive information about various bank services and participates in an exchange of ideas, challenges and solutions.
- Assists with various projects and assignments as needed.
- Comply with federal, state, and company policies, procedures, internal controls, and regulations.
Supervisory Responsibilities: Directly supervises 1 to 3 Loan Associates within their designated region, carries out supervisory responsibilities in accordance with the organization's policies, procedures and applicable laws. Responsibilities include training employees, addressing complaints and resolving problems.
Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Education and/or Experience: 5 or more years prior Loan Associate experience. Associate's degree (A. A.) or equivalent from two-year college or technical school; or two to four years related experience and/or training; or equivalent combination of education and experience.