Commercial Loan Administrator

4 weeks ago

Rockville, United States Lafayette Federal Credit Union Full time
Job DescriptionJob DescriptionDescription:

NOTICE: JOB APPLICANTS LIMITED TO DC, MD, OR VA RESIDENTS. POSITION IS HYBRID. Please note that we are exclusively considering applicants residing in the District of Columbia, Maryland, or Virginia for all open positions.

Join Lafayette Federal Credit Union, a proud recipient of USA Today's Top Workplaces of 2024 award


We are expanding and looking for exceptional talent to support our members and contribute to our reputation as an employer of choice. Be a key player in our mission to become the premier financial partner for our community. Your skills and dedication are essential to our success.

  • Do you have strong problem solving and analytical skills to assess loan risks and opportunities?
  • Are you able to work under pressure and meet tight deadlines?


If so, then Lafayette Federal may have the perfect opportunity for you We are currently seeking a Commercial Loan Administrator to join our dynamic team


About us:

Our Difference: What makes Lafayette Federal cutting-edge? Lafayette Federal Credit Union is not only a great place to bank, but also a great place to work We have been recognized nationally by (1) Newsweek’s America’s Best Bank’s list, (2) we’ve received a 5-star rating from Bauer financial, and (3) we’ve also ranked #12 in S&P Global’ s Top Performing Credit Union’s in 2022 for the second year in a row


Our Culture: Lafayette Federal is about inclusion, diversity, high performance, and new opportunities. Teamwork and our sense of community also make Lafayette Federal a great place to work. Each person is valued for his or her unique set of skills. We share a common devotion to the people we serve, participating in charity events throughout each year and giving back to the community.


Our Opportunities: Professional development, training, and certification is a priority for our employees. We want you to reach your career goals and provide support that leads to opportunities of advancement within the industry.


About the role:

We are currently seeking a Commercial Loan Administrator to gather all necessary financial, collateral, and relevant information required for loan underwriting. Ensure borrowers adhere to loan requirements, such as annual financial reporting, certificates of insurance, proper liens and review loan documentation both pre and post settlement to ensure adherence to approval terms, policies, and procedures.

Requirements:

A day in the life of the Commercial Loan Administrator will include:

  • Loan File Preparation: Gathering all necessary financial, collateral, and relevant information required for loan underwriting. Prepare comprehensive file for Credit Analyst to evaluate loan requests efficiently.
  • Loan Portfolio Monitoring: Ensuring borrowers adhere to loan requirements, such as annual financial reporting, certificates of insurance, proper liens, and collateral value maintenance with specified margins. Monitor compliance with financial covenants.
  • Loan Document Review: Thoroughly reviewing loan documentation both pre and post settlement to ensure adherence to approval terms, policies, and procedures. Facilitating smooth loan closings, disbursements, and documentation maintenance. Processing payments, wires, ACH payments and advance requests accurately.
  • Reporting: Gathering, compiling, analyzing, identifying trends, risks and opportunities and providing them to senior management on a monthly, quarterly or as needed basis.
  • Team Collaboration: Working independently and collaboratively within the Commercial Lending Dept and across other Credit Union departments. Acting as a key contributor to achieving departmental and Credit Union goals.
  • Client Service Excellence: Serving as the primary point of contact, delivering exceptional client service to borrowers. Addressing inquiries promptly, resolving issues effectively, and maintaining positive relationships with clients and colleagues.
  • Communication with Senior Management: Communicating clearly and effectively with senior management. Providing insightful updates on loan portfolios, risk assessment and strategic initiatives.


Education and Skills:

  • Bachelor’s degree in finance, business, or related field OR 1-3 years’ experience in commercial lending administration
  • Strong Analytical skills with the ability to interpret data and identify trends
  • Proficiency in Microsoft Office suite for documentation, analysis and reporting purposes
  • Excellent attention to detail to ensure accuracy in reporting
  • Strong communication skills, both written and verbal, for presenting findings to senior management
  • Ability to work under pressure and meet tight deadline
  • Strong problem solving and analytical skills to assess loan risks and opportunities
  • Attention to detail and ability to thrive in a fast paced environmental while managing multiple tasks


Top benefits or perks:

Joining Lafayette Federal comes with perks to support you in your personal and professional journey.


We provide employees with a generous benefits package including:

  • Employer paid (99.9%) health insurance premium for single and family coverage (HMO Plan)
  • Fully funded deductible (HMO Plan)
  • 401k employer matching contribution
  • Income protection with life insurance, short and long-term disability
  • Paid time off, holiday leave & birthday leave
  • Educational assistance
  • Commuter benefits program and more


The job posting highlights the most critical responsibilities and requirements of the job. It is not all-inclusive. There may be additional duties, responsibilities, and qualifications for this job.


*Lafayette Federal Credit Union is an Equal Opportunity and E-Verify Employer

*EOE/AA/DISABILITY/VETERAN

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