Lending Specialist

Grand Forks, North Dakota
Join our team!
Jun 19, 2019
Job Type
Full Time
Position Summary:

The Lending Specialist is responsible for fulfillment of lending transactions upon approval, developing complete loan packages to document credit transactions according to approval conditions, perform due diligence needed to insure proper borrowing entity and authorization, as well as insuring collateral adequacy and lien position. This position will serve as a subject matter expert for loan documentation and maintain a customer focus while working with other departments such as underwriting, relationship management and loan operations.

Essential Responsibilities:

Job Function Number 1: Loan documentation - 60%
  • Coordinate loan closing date with advisor/guide and underwriter.
  • Reviews loan approvals for approval conditions.
  • Determine required loan documentation to complete the transaction according to approval terms.
  • Complete loan worksheet and order appropriate loan documents for each transaction.
  • Preparation of draft loan agreements or order from legal counsel when needed.
  • Collaborate with underwriter and relationship manager to bring to final form.
  • Obtain verification of adequate insurance coverage prior to delivery of loan documents.
  • Responsible for preliminary review of loan documents for accuracy. Collaborate with underwriter to gather additional information, finalize approval of loan documents.
  • Responsible for working with relationship manager to coordinate closing process and facilitate delivery of documents.

Job Function Number 2: Due diligence & compliance- 20%
  • Order title insurance, environment reports and other necessary reports to insure our lien position and quality of collateral.
  • Responsible for obtaining due diligence reports including Certificates of Good Standing, KYC, corporate borrowing resolutions and other documents needed to verify corporate standing and proper borrowing authorizations.
  • Analyze reports and provide opinion as to results and impact to lien position.
  • Enter appraisal orders, as needed for underwriters.
  • Partner with underwriting team to perform appraisal reviews along with underwriting team.
  • Assure completeness of due diligence ordered by credit administration including UCC searches, flood certifications, credit bureau reports, D&B reports, etc. prior to closing and report finding to underwriter and relationship manager.
  • Keep apprised of internal and external compliance requirement, as pertains to loan documentation and administration standards.

Job Function Number 3: Credit administration - 20%
  • Complete post-closing file reviews to insure all documents are properly stored in Nautilus. Follow up and take corrective actions, as necessary.
  • Assist underwriters and advisors/guides with identifying and resolving closing documentation errors.

Position Requirements:

  • Bachelor's degree in business related field or equivalent experience.
  • Five or more years of loan documentation and credit administration experience.

Personal Characteristics:
  • Strong communication skills.
  • Negotiating skills.
  • Problem solving skills.
  • High level of detail orientation.
  • Ability to work independently

Physical Demands: (must be met with or without a reasonable accommodation)
  • Extended periods of time sitting at a desk and using office equipment.
  • Ability to operate a personal computer/laptop for approximately 8 hours per day.
  • Extended time is spent reviewing physical and electronic documents.
  • The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
  • Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
  • Will spend most of time in an indoor environment.

Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

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