Loan Associate
Salary Negotiable Based on Experience.
Job Summary
The ideal candidate is a quick leaner and detail-oriented individual with strong analytical skills. The candidate should also have strong communication abilities and be able to maintain good client relationships.
Essential Job Functions:
- Coordinate with loan administration to order appraisal bids, environmental bids, credit reports, flood certificates, etc.
- Underwrite and analyze Borrower and Guarantor information to determine repayment ability.
- Prepare, submit, and present credit memo to loan committee for review and approval.
- Coordinate with loan administration department for loan closing.
- Review and prepare draw requests submitted by the Borrower.
- Order draw endorsements with Title
- Coordinate with Participation Bank and/or Note Dept to get draws funded.
- Maintain a loan portfolio.
- Collect required updated financial statements, tax returns, etc. according to the Business Loan Agreement.
- Ensure Loan Tickler system is updated in a timely manner.
- Perform Annual/Quarterly Reviews and Annual Site Inspections.
- Prepare Quarterly reports such as Construction Loan Progress Report(s).
- Monitor loan payment and follow up with borrowers if necessary.
- Provide customer service and administrative support.
Qualifications
- 0-2 years of experience as a loan associate, underwriter, or equivalent experience in lending/credit.
- Bachelor’s degree in business, finance, statistics, other related fields, OR equivalent qualifications preferred.
- Attention to detail.
- Ability to work with tight deadlines.
- Strong written, verbal, and collaboration skills.
- Strong reasoning and analytical skills.
- Mathematical skills.
Mega Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, age, national origin, disability, protected veteran status, gender identity or any other factor protected by applicable federal, state, or local laws.