Commercial Loan Administrator
1 month ago
**COMMERCIAL LOAN ADMINISTRATOR**
**Reports To**:Chief Operating Officer or Manager - Loan Operations & Administration
**Location**:Corporate Office
**Department**: Loan Operations & Servicing
**Status**: Full Time - Salary (40 hours per week)
Octant Business Services, LLC was founded in 2004 and is a jointly owned credit union service organization (CUSO) that provides high quality, affordable, safe and sound business lending products and services that allow client credit unions to offer commercial and member business loans (CMBL).
**Position Responsibilities**:
Demonstrates high levels of discretion and independent judgment with respect to matters of significance to include but not limited to:
- Review, monitor and maintain loans booked to Octant’s core servicing system, PCFS Loan Manager. This involves but not limited to financial ticklers, UCC tracking, insurance tracking, and note modification updates.
- Reconcile daily cash operations consisting of various ACH payments, accounts payable, and account receivable. Process daily loan payments via ACH.
- Assist the various credit unions through the closing process by reviewing the loan documents. Prepare loan documentation, run flood certificates, and prepare fees for closings.
- Review, monitor and maintain loan closings, documentation preparation utilizing LaserPro, tickler system and post-closing packages for quality control.
- Review and monitor monthly reporting to credit union clients including but not limited to SBA 1502, Real Estate Taxes, Trial Balance, and Delinquency reports. Various ad hoc requested internal/external departments.
- Respond to member, client, and attorney inquiries regarding loans serviced by Octant.
- Provides back up support in all loan operations areas and identify areas for improvement in the loan servicing functions.
**Position Requirements**:
- 2 + years financial institution commercial and/or real estate loan “back office” experience.
- BS degree or equivalent experience and education.
- Experience with and understanding of commercial loan servicing software.
- Ability to understand and work with legal documentation preferred. (training will be provided)
- Sound verbal and written communication skills.
- Proficiency in MS Office products. (Word, Excel, Power Point)
- Accuracy and attention to detail.
- Self-directed with good follow-through skills.
- Ability to conform to policies and procedures.
- Sufficient with time management and project prioritization.
Pay: Up to $55,000.00 per year
**Benefits**:
- 401(k)
- 401(k) matching
- Dental insurance
- Flexible schedule
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Retirement plan
- Vision insurance
Schedule:
- Monday to Friday
**Education**:
- Bachelor's (required)
**Experience**:
- loan servicing: 2 years (required)
- commercial real estate: 2 years (preferred)
Ability to Relocate:
- Chelmsford, MA: Relocate before starting work (required)
Work Location: Hybrid remote in Chelmsford, MA
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