Loan Adminstration Officer
GENERAL SUMMARY
Documentation, Closing & Funding Department is responsible for preparing the Promissory Note, Business Loan Agreement, and other loan documentation in LaserPro or reviewing attorney drawn loan documents, drafting Lender’s Instructions, and performing necessary pre-closing validation for closing and funding.
ESSENTIAL FUNCTIONS
Review and document all standard and complex (i.e. Cross Collateralized, Asset Based, Construction complex, International Trade Finance complex) commercial loans.
Review complex attorney prepared loan documents prior to signing in accordance with Credit Approval. Coordinate and work with Cathay legal counsel along with outside attorney for any change or addition to loan documents.
Validate the receipt of the loan and borrower supporting documentation and that the request is in compliance with loan committee approval conditions, Bank's policies, procedures and Federal, State and other regulatory requirements.
Communicate and resolve any supporting documentation issues or questions/clarification on the CCR conditions/wording with Lending Unit and Cathay legal counsel or attorney.
Work with Lending Unit to address comments or frequent issues with submitted, required documentation.
Create LaserPro documentation based upon loan CCR conditions and in compliance with loan committee approval conditions and Bank's policies, procedures and Federal, State and other regulatory requirements.
If applicable, create escrow closing instruction and pre-closing conditions and any other conditions required for Lender/Borrower information.
Receive signed loan documents and perform closing and funding activities including wire request, account funding, remit funds to pay off other lender, order tax contracts, UCC filing, set up and maintain tickler and monitoring databases (such as Stucky and Trade Innovation etc.)
Reviews and approves escrow and recording instructions, or revises when necessary.
Reviews loan exceptions on loans that are process by less experiences staff to ensure they are fulfilled before authorizing the funding of the loans and collateral to protect bank’s lien position. (UCC filing/verification, Title policy reviewing etc.)
Database administrator for LaserPro responsible for update and maintain of LaserPro library setting, include maintain and test PaserPro disaster recovery application along with LaserPro testing database to be use prior to implementing additions or changes to production.
Monitors the timely input and callback of set up, maintain tickler and monitoring databases.
Responds to more complex internal and external inquiries in a timely and satisfactory manner (i.e. Lending Units, Loan Servicing and legal counsel).
Cross-train less experienced staff.
In the Manager's absence, oversee transactions of clients whose financials do not meet all bank's requirements. Submits the appropriate person (i.e. Chief Credit Officer, Loan Operations Manager, etc.) to sign off these transactions prior to processing.
QUALIFICATIONS
Education: College graduate with major in accounting or business preferred.
Experience: 3-5 years banking experience required. Knowledge and understanding of commercial loans and international lines of credit required.
Skills/Ability:
PC literate, proficiency with MS Office
Able to work in a fast pace environment while maintaining a high level of accuracy
Strong organization skills, able to prioritize work
Strong problem-solving skills
Strong verbal and written communication skills
Bilingual (English, Mandarin or Cantonese) is a plus.
Demonstrated ability to make sound recommendation to improve workflow