Senior Commercial Loan Administrator

1 week ago


New York, New York, United States Webster Bank Full time
Commercial Loan Administrator Job Description

At Webster Bank, we're committed to putting people first and helping individuals, families, businesses, and our colleagues achieve their financial goals. As a leading commercial bank, we're passionate about serving our clients and supporting our communities.

Job Summary

We're seeking a highly skilled Commercial Loan Administrator to join our team in the Commercial Bank Middle Office. This full-time role will support pre-closing, regulatory, and closing activities on originations and higher-level portfolio servicing requests, working closely with the Lending Teams and Operations to deliver high-quality closings and exceptional customer experiences.

Key Responsibilities
  • Coordinate and work with the Lending Team, Operations, Attorneys, and Borrowers to ensure commercial loan closings are complete, accurate, and in accordance with Webster Bank's credit policies and procedures.
  • Conduct KYC activities (BSA Compliance) and complete entity setup on loan systems.
  • Prepare Loan Setup forms and complete checklists required by Loan Operations for closing.
  • Support Portfolio Managers on collateral due diligence, ordering flood searches, and coordinating flood packages, as applicable.
  • Process good faith deposits, verify third-party open/paid invoices, and reconcile debits and credits for disbursement balancing.
  • Coordinate pre-closing activities with Attorney for new loans, modifications, extensions, and renewals.
  • Monitor/coordinate insurance needs, as applicable.
  • In conjunction with LOB, review draft loan documents to ensure alignment with bank policy, credit approval terms, and loan system compatibility.
  • Obtain and verify funding instructions or requirements, receive clear to close form attorney, ensure all accounts are balanced, and hand off complete closing package to Loan Operations for booking.
  • Support Treasury Deposit Services to process and coordinate any openings or necessary online services.
  • Perform quality control checks on loan and lending systems to ensure loan accuracy.
  • Follow-up on missing & pending items, as well as ongoing documentation such as expired or cancelled insurance (work with operations to ensure timely force placement as necessary).
  • Assist Portfolio Managers with follow-ups for other types of ticklers – financial statements, covenants, manual tax monitoring, etc.
  • Support "lighter touch" customer requests (balance inquiries, loan statement requests, interest rate options, extensions, etc.), working with the LOB to approve and Operations to execute.
  • Review advance requests and circulate for approval, and submit to Loan Operations for processing.
  • In alignment to bank policy and procedures, coordinate internal loan system administrative coding changes with Loan Operations.
  • Work on internal projects to improve the lending process, enhance/expand middle office capabilities, and support the Lines of Business & Operations.
Requirements
  • Bachelor's degree from an accredited college or university.
  • Prior paralegal, commercial lending loan administration, and/or closing experience on $10MM-$50MM+ commercial transactions (5+ years) within borrower segments (C&I, CRE, Sponsor & Specialty, ABL, etc.).
  • Strong interpersonal and customer service skills to interact with lending teams, operations partners, attorneys, and borrowers.
  • Strong understanding of commercial lending process, compliance & regulations, loan types/products/structures, etc.
  • High confidence in reviewing and understanding legal loan documents and contract terms (paralegal experience is a plus).
  • Ability to multitask and manage multiple transactions and servicing requests, simultaneously.
  • Basic understanding of loan & lending systems (Signature, ACBS, Loan IQ, Sageworks LOS, Salesforce, etc.) and proficiency in Microsoft Applications.
  • Fundamental math/accounting/finance skills to understand debits, credits, balancing, amortization schedules, etc.

We're an equal opportunity employer and welcome applications from all qualified candidates. #LI-EM1



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