What You'll Do
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Summary/Objective:
Primary responsibility to support Commercial Lending in providing customer service to internal and external customers, including answering telephone calls, and interfacing with members directly regarding system use, loan documentation and general servicing inquiries. There are three sub-functions that the Senior Commercial Loan Servicing Specialist (SCLSS) may be assigned:
1. Loan Operations
2. Loan Administrator
3. Small Business Support Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Essential Functions - (1) Loan Operations:
Primary responsibilities are to process and monitor all phases of commercial loans
* Prepare new loan documentation (Note and/or Loan Agreement) on loans that are not real estate secured and prepare Amendments to Notes and/or Loan Documents as described in the appropriate approval document. Review Commitment Letters prior to them being mailed to ensure the commitment letter matches the approval document. Within regulatory timeframes, create mortgage discharges, assignments and assess the appropriate fees associated, if applicable.
* Perform a pre-closing and post-closing review of all new loans and amendments for compliance and accuracy and works closely with the closing attorneys and relationship managers to ensure all changes are completed and that the loan was closed in compliance with the approval.
* Work with legal counsel, loan correspondents and borrowers to collect, review and organize legal, governmental, and professional materials necessary to properly document and close.
* Research legal file to provide requested documents or answers to relationship managers, attorneys, or members.
* Responsible for booking and/or modifying commercial loans. This entails the ability to read and interpret promissory notes and modifications agreements to establish the proper schedules and data on system that will reflect the contract with the member. Must be able to use sound judgment when selecting codes such as property type, account type, flags, etc. as each of these is critical to the system and reporting.
* Responsible for processing paid loan files which includes logging paid loan files, accurate preparation of mortgage discharges, confirmatory discharges, and partial release documents, and ensure the timely delivery of the necessary closed loan documentation to members and closing agents.
* Oversee all commercial loans participated with other credit unions and financial institutions. This involves communication with investor credit unions (participant), sending and receiving funds, rate changes and forwarding on-going information to the appropriate.
* Review and approval for mailing all commercial loan bills and payment notices.
* Review the input of all new loans booked on the XP Core system.
* Review various daily monitoring reports to insure payments were processed correctly. Monitor all declined, withdrawn or approved but not accepted loan applications to ensure a Lost Business Form has been completed and filed.
* Balance accrual, billing and general ledger accounts and systems, monitor report and escalate outstanding items.
* Update outstanding loan documentation and financial information, as well as, monitoring information in the Suntell System.
* Prepare the 1502 Colson Report for all of DCU's (including Octant loans) SBA guaranteed loans.
* Responsible for reporting all loans that fall under HMDA and complete the LAR for each HMDA applicable loan.
* Support all aspects of Pega including loan processing, reporting errors or bugs, entering and testing tickets as needed.
* Set up new Business Visa accounts on Springboard. Research and processes all servicing matters relating to Business Visa accounts
* Initiate internal wires for loan closings, advances, or member requests.
* Produce Escrow analysis Statements for all consumer/commercial type insurance and taxes and perform account maintenance. Perform Escrow review and release module. Become the subject matter expert on the regulatory requirements for escrow accounts.
* Process loan payments, construction advance requests, research and resolve all discrepancies. Perform simple and complex scheduled and non-scheduled maintenance functions.
* Complete NCUA Call report monthly as well as investigate any data discrepancies.
* Responsible for tracking and processing payments for various tax and insurance policies (including forced placed and flood) in the commercial loan portfolio. Follow-up with members and agencies as needed.
* Perform in-depth research and analysis leading to resolution of inquiries related to monetary or documentation issues.
* Mentor, support and train Commercial Loan Servicing Specialists, as needed.
* Perform other job-related duties as assigned by Managers(s). Essential Functions - (2) Loan Administrator Primary responsibilities are to assist and support the loan officers in their pursuit of new loans and monitoring their current loans.
- Assist in the daily requirements of a team of Senior Commercial Lenders, Commercial Lenders, and Portfolio Managers. At the direction of team members, responsible for the preparation of Commitment Letters and CPS Adjustments along with communicating directly via e-mail and/or telephonic means with Members, prospective Business Members, Centers-of-Influence (i.e., Insurance Agencies, Accountants, etc.) and State and Municipal agencies related to Member Business Loan and/or Deposit issues and follow-up.
- Self-directed to review, take action and track Exception Reporting, Matured Loan Reporting, Tax Delinquency Reporting, Insurance Tracking, Financial Statement requirements and Loan Delinquencies. Communicate and report on results in a timely fashion to the team member being supported.
- Provide quality customer service to both external and internal customers. Perform basic and more complex operation functions as directed by supervisor that may include but not limited to receiving, reviewing and preparing loan files, entering data into a loan or related system, reviewing loan documents, maintaining customer loan and deposit accounts and reviewing loan files for accuracy.
- Perform general administrative functions within the department that may include but not limited to typing memos, letters and e-mails, answering phones, preparing other correspondence and reports, reviewing and taking action regarding daily reporting, reviewing and submitting vouchers for bill payment, preparing periodic reports and filing as needed.
- Support all aspects of Pega including loan processing, reporting errors or bugs, entering and testing tickets as needed.
- Responsible for working with lenders to ensure Reg B compliance is met for all loans.
- Create Reg B letters ensuring timely compliance.
- Create and mail out waiver letters to Borrowers.
- Responsible for direction and/or assistance with special assignments and projects on an as needed basis.
- Ensures that work is in compliance with applicable laws, regulations and guidelines, as detailed in policies located on intranet; policies include but are not limited to Fair Lending, Know Your Customer, BSA and other applicable anti-money-laundering policies.
- Assists in the preparation and distribution of a variety of recurring reports for use in the administration of the commercial portfolio.
- Responds to a variety of inquires and confirmations on Commercial Members.
- Assists in the maintenance of system to ensure loan files have updated financial statements, appraisals and other information.
- Initiate internal wires for members
- Process daily work within service level expectations:
- Personal / Business Membership Applications
- New Checking or Money Market Account Requests
- New Deposit Account Requests
- Performs quality audits within the department according to scope and repors findings to management.
- Update the information required by FHLB on the loans that have been pledged to FHLB
- Update outstanding loan documentation and financial information, as well as, monitoring information in the Suntell System. Distribute the Suntell financial tracking and documentation exception reports.
- Mentor, support and train Commercial Loan Servicing Specialists, as needed.
- Perform other job-related duties as assigned by Manager(s).
Essential Functions - 3 Small Business Support: Primary responsibilities are to support the Small Business Lending group. May report to Small Business Specialist Team Leader
- Trial and Delinquency Reporting
- Open memberships (personal & business) mainly for loan closing
- Package loans for underwriting by SBS, Credit Department or Octant
- Gather Documents
- Pull Credit
- Research and obtain collateral values
- Create coversheet
- Prepare and send approval letters on Small Business loans.
- Book Visa, Vehicle & Equipment for Small Business
- Perform post-closing requirements on Small Business Loans.
- Create and send term sheets & commitment letters
- Update monthly sales spreadsheets (Opened Accts Closed Loan, Business Loans per Branch Reports)
- Update and send Reg B on a weekly basis
- Create Reg B letters to be sent to applicants
- Respond to inquiries regarding daily NSF report, as necessary
- Separate and save files using Adobe Acrobat
- FedEx documents (appraisals, loan docs, etc.) as necessary
- Screen and respond to Service Requests in Pega (payroll/merchant services, LOC, Membership questions)
- May review stops and alerts on memberships during both servicing and loan booking process, taking appropriate steps to find resolutions accordingly.
- May become administrator for different systems requiring them to oversee certain reports or functions.
- Account and loan maintenance (CPI, Titles, Insurance, M- Holds, Address Changes, provide credit reference requests, complete documentation requests to borrowers)
- Support all aspects of Pega including loan processing, reporting errors or bugs, entering and testing tickets as needed.
- Review exception report monthly and collect required information as needed. Including BBC, A/R, tax returns, PFS, etc.
- Octant- accessing online portal, uploading documentation, downloading file information, contact borrowers regarding- Past due taxes and Expired Insurance report, Delinquent payments, assist with finalizing annual reviews, etc.
- Mentor, support and train Commercial Loan Servicing Specialists, as needed.
- Assist with developing, writing and/or testing written procedures or recorded trainings.
- Interact with business members to:
- Welcome to DCU and cross-sell commercial lending products
- Answer their questions
- Solve issues
- Request information including information for annual reviews.
- Answer phones for the department, coordinate and ensure phone coverage at all times during business hours.
- Other duties as assigned.
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What We Do
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DCU is the largest credit union headquartered in New England - serving more than one million members in all 50 states. With over 1,900 team members, we strive to make DCU a great place to work with an excellent work-life balance, and a community that cares. DCU is an equal opportunity employer, and we value diversity, inclusion, and equity at our company. We evaluate qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other legally protected characteristics. If you're applying for a job and need a reasonable accommodation for any part of the employment process, please send an email to careers@dcu.org and let us know the nature of your request and contact information. Please note that only those inquiries concerning a request for reasonable accommodation will be responded to from this email address. DCU is not currently offering Visa transfer/ sponsorship for this position.
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Digital Federal Credit Union
Jun 11, 2025