Loan Operations Compliance Specialist

Loan Operations Compliance Specialist

Requirements

• Excellent analytical, organizational and time management skills.
• Bank operations experience is required.
• Banking Industry experience is required.
• Loan processing experience is required.
• Bachelor’s Degree required.

Responsibilities

• Efficiently manage inquiries and requests related to the loan onboarding and servicing.
• Use sound judgment and innovation to uphold the integrity of the bank’s financial data by accurately maintaining loan records in the core system.
• Collaborate with bank personnel to maximize client service and mitigate potential risk to the bank through creative problem solving.
• Oversee and coordinate the onboarding of all new loans and leases to the core system with promptness and accuracy.
• Review updates to loan data within the core system, ensuring that all maintenance has been properly authorized and documented in accordance with established processes and procedures.
• Manage inquiries brought forth by loan personnel, legal counsel, and customers regarding payments, disbursements, payoffs, modifications, loan documents, and reconciliations.
• Effectively analyze and interpret complex loan documents while adhering to the parameters of the core system and established banking procedures.
• Manage daily data syncs between loan core system and customer relationship management platforms.
• Direct all aspects of the loan and lease payoff process including the preparation of payoff statements and allocation of funds received.
• Review core interest rate configurations through daily research and tracking of various published index values.
• Approve loan and lease related electronic funds transfer requests including disbursements, payments, deposits, and refunds.
• Facilitate the internal transfer of funds through Live Oak Bank accounts per the servicing requirements of Renewable Energy, Government Contracting, Specialty Finance, and Agriculture loans.
• Analyze daily activity reports to identify and facilitate actionable changes in the core system.
• Manage the preparation and distribution of monthly loan and lease billing invoices.
• Review and approve changes to critical core data in alignment with approved loan modification documents.
• Collaborate with various other departments around the bank to complete reconciliations and troubleshoot discrepancies.
• Review and authorize incoming and outgoing ACH payments, validating the authenticity and accuracy of each transaction.
• Use sound judgement. When necessary, asks for help or guidance.
• Ability to work independently while also being a team player.
• Collaborate effectively with team members by assisting new team members with the above processes.
• Work with management, technology, and other teams in the bank on projects that impact Loan Operations.
• Provide recommendations on how to improve processes and drive efficiencies.

Preferred Qualifications

• Audit experience is preferred.