Commercial Loan Assistant

Position Title: Commercial Loan Assistant

Department: Commercial Lending

East Cambridge Savings Bank’s Commercial Lending Department is actively recruiting for a Commercial Loan Assistant.

Function:

Under the direction of the Vice President - Commercial Loan Operations Manager, performs a variety of administrative tasks in connection with the commercial lending function.

We are looking for a candidate with:

• 1-3 years’ experience in a Commercial Lending environment
• Bachelor’s degree or equivalent through specialized coursework and training
• Must be detail oriented with strong organizational and verbal communication skills
• Working knowledge of Microsoft Word and Excel
• Working knowledge of LoanVantage preferred
• Ability to perform a variety of tasks simultaneously while adhering to guidelines

Essential Job Functions:

• Assembles and verifies accuracy of loan documentation and check documents for proper vesting, legal descriptions, closing dates and signatures.
• Maintains new and paid commercial loan files and ensure that loan files contain documents with proper signatures, dates and other relevant data. Reports discrepancies to Vice President – Commercial Loan Operations Manager.
• Monitors UCC and/or other security documents on a regular basis. Prepares renewal or termination documents as necessary. Assists with requesting financial statements from commercial borrowers on an annual basis. Compiles financial data for review by Credit Analyst. Follows up on requested information/documentation to ensure receipt. Prepares BOI presentation forms for approval of new commercial non-real estate loans. Prepares disposition correspondence including commitment letters or adverse action and/or denied documentation, and in-house closings of newly approved commercial non-real estate loans. Prepares all necessary loan documents for loan closings, either in-house or by attorney.
• Ensures that loans are processed in accordance with all the terms and conditions of the credit approval and all applicable regulatory guidelines.
• Updates the SBA remittance fee due report on all SBA loans on a monthly basis. Prepares the necessary closing documents for commercial loans.
• Assists Vice President – Commercial Loan Operations Manager in handling all documentation related to Commercial real estate. Monitors application pipeline, and follows up on appraisals, 21E reports, and financials. Reviews and packages loans for approval by Management.
• Assists Vice President – Commercial Loan Operations Manager by responding to inquiries from customers, attorneys and other Bank personnel as needed to resolve problems. Acts as liaison with attorneys prior to and during closings to ensure accurate and consistent documentation.
• Documents all loan underwriting and processing activities related to Commercial loans on a daily basis.
• Ensures proper due diligence and CIP/ CDD Beneficial Ownership requirements are met prior to closing the loan, working with the Commercial Lending Officers as needed.
• Prepares and follows construction advances and closed loans. Coordinates a draw request for Construction Loans between customers and outside construction consultants and payouts.
• Responsible for maintaining all documentation for Participation Loans serviced by ECSB or others.
• Leads a variety of customer service activities as it pertains to commercial customers, including responding to requests, researching discrepancies and resolving issues. Contacts attorneys, appraisers, insurance companies and other applicable parties for miscellaneous information and documentation.

Supportive Functions:

• Performs all related lending tasks and special projects as may be required or assigned.

Contact our Human Resources Division or visit https://www.ecsb.com/about-us/careers for more details and to apply.

Or submit your resume to:

Email: recruit@ecsb.com Fax: 617-252-6877 Phone: 617-354-7700

East Cambridge Savings Bank, Attn: Human Resources

344 Cambridge Street Cambridge, MA 02141

East Cambridge Savings Bank is an Equal Opportunity Employer/Veterans/Disabled