Loan Operations Specialist (Hybrid) - Philadelphia, PA

OceanFirst Bank
tuition assistance
United States, Pennsylvania, Philadelphia
Jan 23, 2025
Back Loan Operations Specialist (Hybrid) #4350 Philadelphia, Pennsylvania, United States Apply Apply for this job now! Apply Job Description At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values. Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business. Great benefits include: hybrid schedule after initial onboarding has been completed, employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community! About Your Role Responsible for supporting Commercial and Construction Loan Operations, ensuring regulatory compliance for Spring Garden Lending LLC. Support Loan Officers, resolve issues, and improve workflow. Provide excellent customer service and collaborate with other departments. Maintain professional expertise through training and assist other operational areas as needed. Perform additional duties using discretion and judgment. What You Will Do 1. Responsible for loan tasks, including but not limited to loan boarding, loan payoffs, loan denials, loan modifications, subordinations, tickler updates, monthly insurance reconciliations, and collateral tracking and maintenance. 2. Must work with loan officers throughout the loan process to ensure including but not limited to obtaining required credit related information, ordering credit reports, appraisals, property searches and other due diligence items as necessary. 3. Responsible for ordering/preparing commercial loan documentation for new requests, extensions, and modifications. 4. Review loan documents for conformance with loan approval documents, compliance and accuracy. 5. Responsible for servicing and maintaining the existing credit portfolio related to loans. Includes but not limited to settlement of general ledger accounts, escrow functions and collateral monitoring. 6. Track mortgages and liens for all commercial notes to ensure completion of recording and satisfaction. 7. Manages post-closing loan review. 8. Post and process payments, construction draws and principal reductions. 9. Edit loans booked to loan platform for accuracy. 10. Accurately quote loan payoffs, process all paid out loan files and release collateral, when applicable. 11. Performs charge off and non-accrual functions. 12. Process loan payoffs, participation loan processing -- both purchased and sold, services loan payments with participation banks, research payment issues, and disrepencies. 13. Research and process un-posted items. 14. Responsible for maintaining standard operations and procedural documentation. 15. Must answer any customer calls and maintain high level of customer service to both internal and external customers. 16. Assists with year-end processing procedures and answers 1099 or 1098 reporting questions. 17. Supports department conversion initiatives and new product launches. 18. Assists with maintenance and updates on all FIS modules and CRM system. 19. Completes wire processing in accordance with Company policy and procedures. 20. Escalates questionable transactions and recurring issues to management in a clear and timely manner. 21. Continual and proficient communication with VP Loan Operations regarding issues, progress, and ideas for improvements 22. Accurately follows SGL policies, procedures, compliance rules and industry regulations as applicable 23. Performs additional tasks such as reporting, mail distribution, documentation and system maintenance, etc. as needed. 24. Performs other duties, as assigned Requirements What We Expect of You Strong customer service skills with the ability to independently research, resolve or elevate customer issues. Basic knowledge of commercial lending and loan closing process, from initial loan term sheet through to closing, and ability to interpret the policies & procedures governing commercial lending. Experience with or ability to learn Bank Core and sales tracking systems; Understanding of commercial loan documentation and concepts related to the loan booking process. Working knowledge of general regulations governing the banking industry, as well as agency guidelines and organization policies. Knowledge of MS Office, including Windows, Microsoft Word, Excel Communicate clearly and accurately in verbal and written format. Interact in a pleasant, cooperative, and timely manner with internal and external personnel at all levels in order to maintain positive company image. Ability to organize time, resources, and set priorities to accomplish multiple duties and maintain efficient workflow. Ability to maintain and report on confidential information in an appropriate manner. Ability to perform administrative duties: process administrative details in order to solve office problems (e.g. scheduling conflicts, supply delays, information flow), and maintain effective office operation; . Your Qualifications Formal education through high school or equivalent is required, associates degree or higher a plus. Minimum of 2 years' experience in banking industry or financial services industry. Work experience in an office environment. INTERNAL AND EXTERNAL CONTACTS Internal contact with department and senior managers on accounting issues or information requests, within the Spring Garden Capital Group division and the OceanFirst Bank finance and accounting teams. External contacts are occasional, primarily with auditors, tax consultants, and other vendors. WORKING CONDITIONS/PHYSICAL REQUIREMENTS Hybrid environment with a minimum of 3 days/week in the Philadelphia office of Spring Garden Capital Group. Free parking provided.