Loan Administration Associate II

1 week ago


Woodbridge, New Jersey, United States Provident Bank Full time

Join a Respected Financial Institution
Are you ready to become part of a well-established financial institution with a strong community presence? Provident Bank is a prominent multi-billion-dollar bank committed to growth and excellence, serving New Jersey, Eastern Pennsylvania, and New York. Our enduring success reflects our dedication to our employees, customers, and the communities we serve.

POSITION SUMMARY:
This role involves close supervision and is responsible for executing high-level maintenance and departmental audit functions on various loan types, including commercial loans, commercial real estate loans, construction loans, and small business loans. The incumbent will manage all aspects of transaction processing related to commercial, residential, and consumer loan portfolios, including daily recaps, customer support, scanning, and quality assurance. The role also entails mentoring less experienced staff and tackling complex assignments.

KEY RESPONSIBILITIES:

  • Assist in managing diverse servicing activities, such as fund applications, real estate tax payments, and customer inquiries related to loan portfolios.
  • Ensure timely completion of responsibilities for both internal and external clients, resolving high-priority or complex issues through effective communication and negotiation.
  • Set up borrower and financial information for new loan closings using the appropriate systems.
  • Interpret loan documents and approvals to verify system accuracy.
  • Monitor future interest rate adjustments and ensure compliance with loan documents.
  • Notify management of any significant changes requiring special attention.
  • Process loan modifications, including maturity extensions and interest rate adjustments.
  • Verify that all modified data has received necessary approvals.
  • Administer real estate tax escrow disbursement reports to prevent negative transactions.
  • Communicate with local municipalities to clarify amounts due and resolve discrepancies.
  • Respond to borrower inquiries regarding escrow transactions and re-analyze accounts as needed.
  • Oversee the monthly billing process, ensuring all commercial account bills are generated and dispatched.
  • Maintain high-quality control standards.
  • Contact borrowers for address verification on returned mail.
  • Process monetary transactions, including payments, fees, and adjustments.
  • Perform additional duties as assigned by management.
MINIMUM QUALIFICATIONS:
  • 3 - 5 years of relevant experience.
  • High school diploma or GED required.
  • Ability to interpret loan documentation.
  • Strong communication skills for clear information exchange.
  • Proficient in Horizon System, PC applications, Excel, and Word.
  • Ability to create Excel spreadsheets and utilize formulas for reporting.
  • Demonstrated ownership of workflow and problem resolution.
  • Strong multitasking abilities.
  • Excellent organizational skills.
  • Solid mathematical skills.
WORKING ENVIRONMENT:
Work is generally conducted in an office setting with moderate noise levels.

HAZARDS:
Typical of a standard office environment.

This job description is not exhaustive. Employees may be required to perform other duties as directed by management. Job descriptions and responsibilities may be adjusted as necessary.

Provident Bank values diversity and recognizes the importance of a varied workforce. We appreciate the unique perspectives that a diverse team brings to our organization. Our commitment to our employees and customers is at the heart of our strategy, as we believe culture is a key differentiator in attracting talent.

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