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Loan Operations Specialist
at Albion Staffing
About Albion Staffing Solutions:
Albion has been offering Temp; Contract and Direct Hire Staffing Services for 20-years from offices located throughout South Florida. Offering General Admin/Clerical and Light Industrial staffing services, Albion also specializes in the Logistics, Allied Healthcare and Banking industries.
About this Position:
This position is primarily responsible for the data entry for commercial, residential and consumer loans. Works closely with Officers and Processers to workout payment and booking issues to ensure accurate booking and billing. Process and book indirect loans. This position requires a significant amount of analytical thinking regarding each detail of a loan. It is expected that a proactive approach is taken for any questionable items in order to prevent multiple corrections, issues later in the loan. This position is also responsible for the administration aspect of a loan from the time the proceeds are dispersed until the loan is paid off. This includes sending monthly payment statements and collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance (and managing escrow and impound funds), remitting funds to the note holder, and following up on delinquencies.
Core duties and responsibilities include the following. Other duties may be assigned.
- Prepares collection documentation as well as closing/file documentation and collateral management.
- Prepares Escrow documentation including processes, payments and annual review for residential and commercial loans.
- Inputs loans into system boarding.
- Follows regulations.
- Assists clients with their financial prospects.
- Complies and organizes budget reports and consumer loan policies.
- Prepares documentation for payments, payment hazard, mortgages, flood insurance and taxes for all escrow accounts. Also prepares documentation for tracking systems for insurance, taxes, escrow analysis and collection information and reporting to FHA, Title I, HUD, HMDA, and other similar agencies.
- Prepares loan reviews.
- Adheres to all State and Federal Banking Regulation.
- Reviews computer payment schedules.
- Reviews and verifies accuracy of new and replacement account documents and accuracy of data in system.
- Verifies that all new accounts or loans customers are properly identified according to the Banks Customer Identification Program.
- Orders, reviews and mails payment notices and coupon books.
- Processes loan payments, including Leasing Department payments.
- perform the job successfully, an individual should demonstrate the following competencies:
- Report to the BSA/AML Officer any unusual and/or suspicious circumstances and/or activity detected.
- Preparation of the monthly reconciliation of the Concentrations accounts in accordance with the BSA Program.
- Prepare KYC/CDD Profile Form and obtain all required documentation in accordance with the BSA Program.
- Conduct an OFAC check on all accountholders, beneficial owners, signers, holders of powers of attorney and beneficiaries prior to opening any new account in accordance with the BSA Program. Report any possible matches which cannot be cleared to the BSA/AML Officer.
- Input KYC/CDD Profile Form and enter the necessary information in the system on all new loan accounts at the time of booking in accordance with the BSA Program.
- Input all new Loan relationships for compliance with CIP/CDD/EDD at the time of booking a new loan in the core system in accordance with the BSA Program.
- Ensure source of wealth, source of current income, and net worth as dictated by the BSA Program is properly documented at the time of pay off or pay down.
- Maintain proper internal controls over concentration accounts in accordance with the BSA Program.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Required Knowledge, skills and abilities:
Minimum Education and Experience:
Fifth year college or university program certificate
Two to four years related experience and/or training; or equivalent combination of education and experience.
Ability to read, analyze, and interpret common scientific and technical journals, financial reports, and legal documents. Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community.
- Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry.
- Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations
- Ability to define problems, collect data, establish facts, and draw valid conclusions.
- Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete variables
- To perform this job successfully, an individual should have knowledge of Accounting software; Contact Management systems; Database software; Internet software; Project Management software; Spreadsheet software and Word Processing software.
Applicants will work in Miami, FL
* Pre-Employment and random Drug and Background testing may be applicable.
* Only Local Candidates will be considered; no relocation provided