Loan Operations Manager - Community State Bank
Union Grove, WI 53182
About the Job
Community State Bank is seeking a Loan Operations Manager. As a community bank we have the unique opportunity to be an influential part of many special journeys taking place in our communities. Whether it's guiding a customer through their first mortgage experience, helping a business customer start up a new idea, working hand-in-hand with local non-profit organization to make a difference or simply being a mentor for a new employee of Community State Bank...our purpose as a community bank is to "Provide Opportunity"!
Our success is defined by the respect and trust placed in us by our communities, employees and customers.
We want you to be part of our Community! The loan operations manager is an in-office position and is expected to manage and control key activities related to loan processing, loan servicing, loan accounting, and loan reporting across a variety of loan products including both commercial and consumer loans.
The loan operations manager will be responsible for managing all loan operations processes and procedures. The loan operations manager will also be the lead person in the implementation of all loan operations projects, such as process reengineering and systems implementations. This position is essential in driving operational excellence and ensuring compliance.
Essential duties:
Qualifications:
Our success is defined by the respect and trust placed in us by our communities, employees and customers.
We want you to be part of our Community! The loan operations manager is an in-office position and is expected to manage and control key activities related to loan processing, loan servicing, loan accounting, and loan reporting across a variety of loan products including both commercial and consumer loans.
The loan operations manager will be responsible for managing all loan operations processes and procedures. The loan operations manager will also be the lead person in the implementation of all loan operations projects, such as process reengineering and systems implementations. This position is essential in driving operational excellence and ensuring compliance.
Essential duties:
- Manage and lead all aspects of the Loan Processing and Loan Servicing departments, ensuring that all loan transactions (New, Renewals, Modifications, and Extensions) are accurately and timely registered in the Bank’s CORE system, including proper posting of all related financial transactions.
- Ensure the accuracy of “high” risk fields related to all booked transactions through effective quality control measures.
- Ensuring loan documents are prepared according to state and federal regulations, bank policies and procedures.
- Ensuring that residential mortgage applications are processed following regulations (including but not limited to TRID), bank policies and procedures.
- Oversee all loan servicing functions, ensuring timely and accurate processing of loan payments, payoffs, advances, maintenance, index and interest rate changes, adjustable-rate loan servicing, generation of loan pay-off letters, satisfaction of collateral documents, processing partial releases, maintaining loan general ledgers, generating loan statements and notices, managing non-accrual and charge-off loans, and tracking special loan terms.
- Ensure timely and accurate servicing of all escrow loan accounts, including escrow disbursements (for insurance and taxes) and escrow analysis for both Commercial and Consumer loans.
- Monitor and manage applicable insurance (primarily Hazard and Flood) protecting the loan portfolio, including oversight of the Lender Placement and Flood Monitoring programs, and managing third-party vendors providing insurance services.
- Lead regulatory processes, including Credit Bureau Reporting, Regulation X, PMI servicing, Flood insurance compliance, Periodic Statements, payment practices, customer complaints, customer requests for information, and pay-offs.
- Collaborate in the recruitment and selection process, conducting interviews, providing feedback, and ensuring onboarding aligns with departmental needs while identifying cost-saving opportunities.
- Maintain employee motivation, engagement, and recognition, inspiring commitment and integrity while modeling cultural values and positive behaviors.
- Conduct ongoing analysis of operational processes, leveraging new technologies to streamline operations and achieve excellence in loan processes.
- Manage the launch of new products or initiatives impacting the unit, ensuring adherence to policies and procedures.
- Oversee all audits and examinations affecting the area of supervision, ensuring compliance with Bank policies and regulations.
- Ensure policies and procedures affecting the unit are kept up to date, providing constant review of key loan operational processes to uphold high standards of quality and efficiency.
- Represent the Loan Operations unit as a core team member in all projects impacting loan processing, servicing, escrow, and insurance processes
- Perform additional Loan Operations duties as required by Management and prepare various reports as requested.
Qualifications:
- 5-7 years of advanced experience in Loan Processing/Servicing (residential, consumer and commercial loans, including complex deals) with proven track record of managing loan processes, regulatory compliance, and operational excellence.
- Advanced knowledge in all key processes impacting Loan Operations: loan regulation, loan accounting, loan servicing, escrow and insurance servicing, flood program, loan reporting (among others)
- Understanding of Loan Systems (loan origination, CORE, imaging, servicing, tracking, online servicing) a must.
- Process analysis efficiency and reengineering experience, a plus
- Loan projects implementation experience, a plus
- Managerial experience a must
- Strong capability with MS office program (word, Excel and Power point).
- Strong attentiveness to detail required.
- Good organizational and communication skills
- Excellent writing and analytical skills
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Source : Community State Bank