Loan Review Specialist

2 weeks ago

Fargo, North Dakota, United States Alerus Full time
Job Summary

We are seeking a highly skilled Loan Review Officer to join our team at Alerus Financial. As a Loan Review Officer, you will play a critical role in ensuring the integrity of our lending process and identifying potential risks.

Key Responsibilities
  • Conduct Reviews of Commercial and Agriculture Loans
    • Perform independent reviews of commercial, ag, and commercial real estate loans to identify developing risk and validate the integrity of our risk rating systems and lending process.
    • Conduct continuous review of all types of commercial and commitments.
    • Validate underwriting assigned risk ratings.
    • Review and test underwriting assessments of cash flow, identification of repayment source, adherence to written policy, policy exception approval, guarantor, and collateral analysis.
    • Change risk ratings as appropriate given risk identified in the review.
    • Validate booked loans conform to approved terms and structures.
    • Validate actions taken by underwriters are within their assigned lending authority.
    • Confirm loans are properly documented to ensure bank and legal standards are met.
    • Review quality and content of underwriter prepared credit displays and approval documentation - advising underwriters on content and quality.
    • Prepare and present written reports summarizing findings and identified risks.
    • Follow up on identified required corrective action.
  • Credit Risk Monitoring Duties
    • Investigate and present post-mortem report to the Credit Governance Committee on material credit losses.
    • Conduct impairment analysis in support of allowance estimations.
    • Report on credit risk metrics in support of the company's key risk indicator program.
  • Conduct Review of Small Business Loans
    • Perform independent review of small business lending practices including the use of automated scoring systems.
    • Sample small business loan approvals for the purpose of testing adherence to written policy and defined scoring parameters.
    • Determine that overrides receive appropriate approval.
    • Review the production of periodic scoring system reports to assess system use and control.
    • Sample small business loan files to ensure loans were properly documented and closed.
  • Conduct Review of Consumer and Residential Loans
    • Perform independent review of consumer and residential real estate lending practices including the use of automated scoring systems.
    • Sample direct and indirect consumer loan approvals for the purpose of testing adherence to written policy and applicable consumer lending regulations.
    • Review the production of scoring system reports to assess system use and control.
    • Sample approved and declined system identified overrides to ensure proper approval.
    • Sample loan files to ensure loans were properly closed and documented.
    • Sample residential real estate loan approvals to ensure portfolio retained loans are properly closed and documented in accordance with bank policy.
    Requirements
    • Bachelor's degree or equivalent combination of education and experience.
    • Minimum three to five years banking experience required in commercial lending, regulatory examinations, or internal bank loan review.
    • Previous experience in commercial lending and/or loan review specific job training required.
    • Thorough knowledge of banking lending principles, policies, and practices.
    • Proficient consumer and commercial financial statement analysis skills.
    • Knowledge of commercial, consumer, and residential real estate documentation standards.
    Personal Characteristics
    • Strong attention to detail.
    • Proficient reading, writing, grammar, and mathematics skills.
    • Professional attitude.
    • Strong analytical skills and problem-solving ability.
    • Self-starter with established ability to work effectively with minimal day-to-day supervision.
    • Positive disposition.
    • Strong organizational skills.

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