Entry Level Loan Processor Jobs in Virginia (NOW HIRING)

Description

About Locus:

At Locus, we know communities thrive when they have equitable access to capital. We collaborate with stakeholders across the community development ecosystem to invest in communities with strong aspirations, while addressing challenges like a shortage of affordable housing, limited access to fresh food, a lack of quality jobs, and clean energy innovation. We believe a capital system that centers community input and impact is essential to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving places. 

Locus is the parent organization for a family of community development enterprises, which includes a nonprofit CDFI loan fund, a CDFI bank, a fund management practice, and a national guarantee program. With offices in Christiansburg and Richmond, Virginia, Locus offers innovative and flexible financing tools and strategic consulting services to individuals and organizations in underestimated and excluded communities, most of which are low-to-moderate income. Alongside our many partners, Locus has generated over $2 billion dollars in total impact.  

Locus is a nonprofit holding company regulated by the Federal Reserve. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org.

The Operations Clerk is an entry-level position that supports the daily functions of the Loan Operations department and the administration of the Guarantee program. This role plays a key part in ensuring the accurate handling of loan documentation, transaction processing, and program reporting.

Essential Duties and Responsibilities:

Loan Processing & Maintenance

• Performs research and responds to general loan account questions
• Handles officer change updates
• Add/update customer's contact information
• Maintains accuracy and completeness of customer files
• Set up ACH information for customer payments
• Provide payoff quotes to internal customers
• Provide customer billing statements
• Manage document tracking exceptions 

Loan Filing & Imaging

• Index loan documentation to core Locus system
• File all physical loan documents 
• Scan training documents and file as applicable
• Retrieve and provide files for review by lenders and auditors.

Paid Loans

• Release collateral on loans such as UCCs, Titles and Deeds of Trust
• Send paid loan documents to customers
• Transfer paid loan files for review and document retention

UCC Continuations

• Provide timely filing of UCC Continuations

New Guarantee Client Setup and Billing

• Onboarding new and/or updating IIS clients and their assets into appropriate LOCUS systems.
• Invoicing for Underwriting fees 

Guarantee Closings for Credit Enhancement Programs

• Collect documents needed using closing checklist 
• Draft Guarantee Agreement 
• Work with RM to complete closing 

Additional Guarantee program duties

• Invoices, Monthly/Quarterly/Annual billing for all Investors 
• Claims Processing 
• Prepare amendments/waivers and modifications 
• Send out reminders to guarantee beneficiaries and loan borrowers regarding required reporting
• Collect and save reporting in appropriate digital location
• Track reporting compliance and provide updates to CIGP and Impact Investment Services teams
• Work closely with the Data Analyst for data entry accuracy

Additional Responsibilities

• Provide back-up coverage for other operations personnel
• Minimum 2 days in-person in the Richmond office.
• Assist external and internal customers with questions regarding loans as needed

Requirements

Education, Experience, Certifications: 

• High School diploma or equivalent   
• Experience of 1-3 years related experience and/or training is a plus 
• Accounting and/or banking and knowledge of basic accounting principles, practices, and standards,is a plus, not a requirement 

Computer/Technology:

• Excellent Word, Excel, and Windows file management skills are mandatory 
• Proficient in the use of web conferencing platforms such as Microsoft Teams or similar software
• Demonstrated web research skills
• Familiarity with Outlook or similar network-based email and calendar software 
• Must be able to work independently in a stable remote environment

Communication:

• Ability to communicate verbally across all levels of the organization in a clear, concise and confident manner   
• Ability to write accurate, clear and organized communications, incorporating a range of information and analysis
• Ability to document workflow and procedures

Compensation and Benefits:

• $45,000 - $49,000 annual salary, depending on skills and experience 
• Annual bonus opportunity 
• 18-days of PTO per year
• 13-paid holidays per year 
• Medical, dental, vision, short- and long-term disability insurance 
• Life Insurance 
• Paid Family Leave options 
• 401k savings plan with employer match 

Locus is an Equal Opportunity Employer. Locus does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disability, or status as a veteran.