Commercial Loan Administrator

COMMERCIAL LOAN ADMINISTRATOR

Reports To: Vice President – Loan Operations & Servicing

Location: Corporate Office

Department: Loan Operations & Servicing

Status: Full Time – Salary (40 hours per week)

Octant Business Services, LLC was founded in 2004 and is a jointly owned credit union service organization (CUSO) that provides high quality, affordable, safe and sound business lending products and services for commercial and business loans

Position Responsibilities:

Demonstrates high levels of discretion and independent judgment with respect to matters of significance to include but not limited to:

• Review, monitor and maintain loans booked to Octant’s core servicing system, PCFS Loan Manager. This involves but not limited to financial ticklers, UCC tracking, insurance tracking, and note modification updates.
• Assist the various credit unions through the closing process by reviewing the loan documents. Prepare loan documentation, run flood certificates, and prepare fees for closings.
• Review, monitor and maintain loan closings, documentation preparation utilizing LaserPro, tickler system and post-closing packages for quality control.
• Review and monitor monthly reporting to credit union clients including but not limited to SBA 1502, Real Estate Taxes, Trial Balance, and Delinquency reports. Various ad hoc requested internal/external departments.
• Respond to borrower, client, and attorney inquiries regarding loans serviced by Octant.
• Provides back up support in all loan operations areas and identify areas for improvement in the loan servicing functions.

Position Requirements:

• 2 + years financial institution commercial and/or real estate loan “back office” experience.
• BS degree or equivalent experience and education.
• Experience with and understanding of commercial loan servicing software.
• Ability to understand and work with legal documentation preferred. (training will be provided)
• Sound verbal and written communication skills.
• Proficiency in MS Office products. (Word, Excel, Power Point)
• Accuracy and attention to detail.
• Self-directed with good follow-through skills.
• Ability to conform to policies and procedures.
• Sufficient with time management and project prioritization.

Job Type: Full-time

Pay: Up to $55,000.00 per year

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Flexible schedule
• Flexible spending account
• Health insurance
• Health savings account
• Life insurance
• Paid time off
• Retirement plan
• Vision insurance

Education:

• Bachelor's (Required)

Experience:

• loan servicing: 2 years (Required)
• commercial real estate: 2 years (Preferred)

Work Location: Hybrid remote in Chelmsford, MA 01824