Loan Processor Jobs in Meriden, CT (NOW HIRING)

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This Loan Production Manager role is designed to be the primary internal and external point of contact driving commercial loan applications from the point of application through preclosing. Transactions include commercial and industrial, and real estate secured and are expected to range in size from $500K to $10MM. Responsibilities begin with verification of completed application submittal documentation, and end with verification of preclosing documentation collection. Application support can include tasks before and after these key gates, but the primary objective is to ensure loan applications move through the onboarding process leveraging collaboration with Lines of Business, Underwriting, and Loan Operations.

Job Description Summary:

The Loan Production Manager role is designed to be the primary internal and external point of contact driving commercial loan applications from the point of application through preclosing. Transactions include commercial and industrial, and real estate secured and are expected to range in size from $500K to $10MM. Responsibilities begin with verification of completed application submittal documentation, and end with verification of preclosing documentation collection. Application support can include tasks before and after these key gates, but the primary objective is to ensure loan applications move through the onboarding process leveraging collaboration with Lines of Business, Underwriting, and Loan Operations.

Job Responsibilities:

• Drive consistency and accountability across the credit and loan onboarding process by managing an origination pipeline of commercial credit requests through workflow stages from application through closing.

• Manage multiple credit applications simultaneously with careful tracking of application status and next steps required for an application to advance.

• Coordinate with Line of Business on customer outreach effort to ensure required documentation is collected and uploaded into the Loan Origination System.

• Thoroughly review all loan application documentation, anticipate potential workflow challenges, and take proactive measures to resolveobstacles in advance.

• Coordinate with Underwriting to ensure receipt of sufficient due diligence materials, seek responses to credit inquiries, and maintain status communication to Line of Business.

• Serve as a primary point-of-contact for all application status inquiries and/or problems arising throughout the loan approval and closing processes.

• Prepare and issue commitment letters consistent with the credit approval terms and provide customer follow-up if questions arise.

• Act as the primary process owner of the credit request to ensure a timely and high-quality closing is achieved by tracking application status, following up on missing information, proactively solving problems, and collaborating with cross functional teams.

• Coordinate preparation of all necessary loan documentation and exercise preclosing quality control in preparation for deal closing and scheduling activities.

• Coordinate correspondence, both verbal and written, among clients, Relationship Managers, Middle & Back Office operations, and Counsel, as necessary.

*** This role has a hybrid work schedule that consists of 3 days in the office and 2 days working remotely.

Experience:

• 5 years of experience in Credit, Lending, or Bank Operations

• Bachelor's Degree in Business, Finance, Accounting, or Economics preferred

• Strong knowledge of commercial loan documentation in commercial, industrial, and real estate markets.

• Awareness of collateral specific concepts of security interest, lien perfection, and obtaining clear title.

• Experience ordering or working with appraisals, business valuations, environmental assessments, and other third-party due diligence reports.

• Familiarity with the basic commercial lending process and procedures in Sales Support, Credit, Closing, Loan Operations, and Portfolio Management.

• Heightened organizational and prioritization skills with proven ability to multi-task and drive applications within target turn times.

• Ability to present potentially complex subject matter in a clear and concise manner to ensure understanding by internal stakeholders, customers, and other external parties.

• Demonstrated ability to engage with functional teams to build relationships and collaboratively work toward identifying and recommending process improvements.

• Problem solving skills with experience defining key points and creatively working toward solutions.

• Other beneficial areas of familiarity include lending with Small Business Administration Programs, and knowledge of commercial lending compliance laws and regulations.

The estimated salary range for this position is $112,000USD to $120,000USD. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

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Webster Financial Corporation and its subsidiaries ("Webster") are equal opportunity employers that are committed to sustaining an inclusive environment. All qualified applicants will receive consideration for employment without regard to race, color, religion, age, marital status, national origin, ancestry, citizenship, sex, sexual orientation, gender identity and/or expression, physical or mental disability, protected veteran status, or any other characteristic protected by law.