Loan Operations Specialist III

About Locus

Locus (formerly VCC Social Enterprises) partners with communities where the capital system is not working to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving communities. A capital system that centers community input and impact is essential to making this a reality.

Locus is a nonprofit holding company regulated by the Federal Reserve. Locus is the parent organization for a family of social enterprises, which includes Locus Bank, Locus Impact Fund, Locus Capital and the Community Investment Guarantee Pool, or CIGP. Locus has generated over $2 billion dollars in total impact in local communities to create jobs, energize places, and promote an enhanced quality of life. With offices in Christiansburg and Richmond, Locus offers innovative and flexible financing tools and professional advisory services to individuals and organizations in low-to-moderate income and underserved communities. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors, along with personal and business checking, savings, and certificate of deposit accounts. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org.

Opportunity:

Locus is currently seeking an experienced Loan Operations Specialist III to be responsible for accurate and timely operations of Locus’ loan processes.

Position Overview:

The Loan Operations Specialist’s responsibilities will include but not limited to booking loans on loan system, imaging loan documents, verifying and auditing loan input, following up for loan documentation files, maintaining document tracking exceptions, performing loan research, and processing loan payoffs.

Essential Duties and Responsibilities

Loan Booking

• Book and verify new loans, renewals, modifications, letters of credit and guidance lines of credit for commercial banking
• Book and verify new SBA loans
• Scan, index, and verify loan files to core system accordingly
• Post-closing loan review
• Post payments draws and principal reductions
• Edit loans booked to loan platform for accuracy
• Participation processing – both purchased and sold
• Clear loan unposted transactions
• General loan account questions/research
• Execute recording/release of applicable documents
• Document exception tracking/reporting

GL Reconcilement

• Balance loan general ledger clearing accounts

Filing

• Filing of all loan files
• Scanning trailing documents and filing them in the appropriate loan file
• Works closely with the lenders and auditors to pull files for review

Paid Loans

• Releasing collateral on loans such as UCC’s, Titles, and Deeds of Trust
• Sending paid loan documents to customers
• Segregating the Paid Loan files
• Process loan payoffs to include collateral releases

UCC Continuations

• Timely filing of UCC Continuations

Insurance Monitoring

• Review exception reports to ensure that proper insurance coverage is maintained
• Coordinate Force Placing Coverage when necessary

Customer Service

• Assist External and Internal Customers with questions or issues as they arise related to loans

Reporting

• Serves as back up for USDA Reporting semi-annually
• Review and update Loan Tickler Report
• Review and update Daily Loan Payment Report
• Review and update Post Closing Exceptions Report
• Review and update UCC Continuation Report

Other Duties

• Back up for Operations personnel
• Perform other duties as directed

Education, Experience, Certifications:

• Minimum high school diploma and 3 years to 5 years of experience in a commercial bank lending or loan operations environment. Knowledge of accounting is a plus.

Skills Required:

Organizational Skills

• Well-developed organizational and decision-making skill, adaptability to changing priorities
• Ability to meet deadlines and oversee multiple responsibilities simultaneously
• Able to set own schedule and execute according to a plan, driving for results and effectiveness

Communication

• Verbal: Ability to communicate in a clear, comfortable, and confident manner. Communicates effectively and in a way that supports teamwork – conveys insights to peers and managers quickly and concisely.
• Written: Demonstrated ability to write clear, organized, and accurate memos, incorporating a range of information and analysis. Ability to document workflow and procedures.

Computer/Technology

• Excellent Word, Excel, and Windows file management skills mandatory
• Demonstrated web research skills
• Familiarity with Outlook or similar network-based email and calendar software

Compensation and Benefits

• $45,000 – $55,000 annual salary depending on skills and experience
• Bonus opportunity if bonuses are paid in any given calendar year
• 17 days of PTO per year
• 11 Paid holidays per year
• Medical, dental, vision, short- and long-term disability insurance
• 401k savings plan with employer match
• Life Insurance
• Hybrid Remote

EEO Statement

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 family status, national origin, non-job-related disability, or status as a veteran.