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Senior Commercial Loan Administrator

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Western Alliance Bank

Sep 18

  • Job
    Full-time
    Mid Level
  • Accounting & Tax
    Banking & Finance
  • Quick Apply

AI generated summary

  • You should have a high school diploma, 3+ years in commercial loan administration, knowledge of lending regulations, strong analytical skills, and proficiency in computer skills.
  • You will manage loan closings, coordinate due diligence, process documentation, analyze transactions, resolve obstacles, and ensure compliance while collaborating with various stakeholders.

Requirements

  • - High school diploma and two + years of related experience in Commercial Loan Closing.
  • - Knowledge of lending regulations, including but not limited to Flood, KYC and AML risks, closing procedures, Title policies/endorsements, and insurance coverage types.
  • - 3+ years of experience in commercial lending administration
  • - Ability to work independently and confidently close all loans assigned with some oversight.
  • - Preferred not required – working knowledge of iLien / Lien Solutions, FCM, FIS- IBS/ACBS core system. Basic knowledge of loan documentation, complex business ownership hierarchies and entity types and collateral perfection.
  • - Strong analytical skills
  • - Ability to effectively handle stressful situations and perform several tasks simultaneously with accuracy.
  • - Strong aptitude for detail, time management and organizational skills.
  • - Excellent communication and relationship building skills.
  • - Proficient computer skills

Responsibilities

  • The Loan Administrator collaborates closely with Borrowers, Loan Officers, Relationship and Portfolio Managers, Credit Analysts and Underwriters, Internal and External Legal counsel, and internal Loan Operations team members, as well as Title and Escrow agents, to ensure the timely closing of loans within the Commercial and Industrial Portfolio.
  • The Loan Administrator will proactively process a pipeline of diverse, demanding, and complex Commercial and Industrial and Commercial Real Estate loans.
  • The position is responsible for managing loan closing activities for new loans, modifications, renewals, and extensions.
  • Process UCC Search request and review for lien position.
  • Order flood certifications for Real Estate secured transaction.
  • Assist in ordering appraisal report and Phase I review/report if necessary.
  • Order Credit Reports if necessary.
  • Process Credit Cards for approved transactions.
  • Review and understand loan terms and conditions of loan approvals.
  • Analyze transaction types and determine necessary due diligence items and legal documents required to ensure accurate closings and compliance with bank and regulatory requirements and procedures.
  • Initiate customer contact and coordinate receipt and review of outstanding due diligence items.
  • Direct internal Loan Support Group or outside counsel to prepare necessary loan documents.
  • Identify any obstacles to closing and present viable alternatives and solutions.
  • Facilitate loan closing and reconcile all fees and expenses at closing.
  • Actively works on obtaining post-closing conditions to avoid delinquencies.
  • Independently and effectively manage their individual pipeline of loans assigned to them to ensure timely and accurate closings.
  • Collaborate with Team Lead to assist where necessary.
  • Work with necessary Loan Servicing teams to assist with customer inquiries.

FAQs

What is the primary responsibility of a Senior Commercial Loan Administrator?

The primary responsibility is to manage loan closing activities for new loans, modifications, renewals, and extensions within the Commercial and Industrial Portfolio, ensuring timely closings.

What qualifications are required for this position?

A high school diploma and two or more years of related experience in Commercial Loan Closing are required. Additionally, three or more years of experience in commercial lending administration is preferred.

Is knowledge of lending regulations important for this role?

Yes, knowledge of lending regulations such as Flood, KYC, and AML risks, closing procedures, Title policies/endorsements, and insurance coverage types is important for the role.

What skills are necessary to succeed as a Senior Commercial Loan Administrator?

Strong analytical skills, attention to detail, time management, organizational skills, excellent communication, and relationship-building skills are necessary for success in this role.

What kind of experience is preferred for this position?

While not required, it is preferred to have a working knowledge of iLien / Lien Solutions, FCM, FIS- IBS/ACBS core system and a basic understanding of loan documentation, complex business ownership hierarchies, and collateral perfection.

Are there opportunities for professional development in this role?

Yes, there are opportunities to bolster business knowledge and gain hands-on experience in how successful companies operate and manage their finances.

What benefits does the company offer?

The company offers competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance, an employee volunteer program, and a wellness program.

Is prior experience dealing with complex loans necessary?

Yes, the position requires the ability to manage a pipeline of diverse, demanding, and complex Commercial and Industrial loans effectively.

Will I be required to work independently in this role?

Yes, you will need to work independently and confidently manage the pipeline of loans assigned to ensure timely and accurate closings, with some oversight.

Who will I collaborate with in this position?

You will collaborate closely with Borrowers, Loan Officers, Relationship and Portfolio Managers, Credit Analysts, Underwriters, Legal counsel, internal Loan Operations team members, and Title and Escrow agents.

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Western Alliance Bank

Finance
Industry
1001-5000
Employees

Mission & Purpose

With more than $65 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the country’s top-performing banking companies. Through its primary subsidiary, Western Alliance Bank, Member FDIC, business clients benefit from a full spectrum of tailored banking solutions and outstanding service delivered by industry experts who put customers first. Influential sources from Forbes to American Banker again rank Western Alliance Bank among the top U.S. banks in 2023. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide.