POSITION: COMMERCIAL LOAN ADMINISTRATOR
Provides administrative support for the Commercial Lending areas of the Bank, including pipeline management, reviewing legal documentation, performing due diligence in preparation of closing, and facilitating closings with attorneys and lenders. Upon closing, review documents for completeness and prepare loan for boarding to the core. Track and clear post-closing exception items by following up with attorneys and lenders to gather documentation needed.
Key Result Areas:
Coordinate and complete loan closings by preparing and/or obtaining necessary documentation for new and existing commercial loans including Commercial Real Estate, Commercial and Industrial, Asset Based Lending, Small Business Administration, Construction, Participations, SWAPs, Bonds, and Letters of Credit, while adhering to approved terms and conditions
Review and coordinate the funding/disbursement of new and existing loan closing proceeds in accordance with the terms of closing
Track any expenses associated with loan closings and ensure vendor invoices are submitted for payment. Reconcile funds based on outstanding GL items and funds received by the Borrower
Ensure receipt of a complete loan file. Track and follow-up on any documents not received at closing until all outstanding document exceptions are satisfied
Responsible for validating bank and regulatory requirements have been met surrounding Reg B, flood determination and insurance, Patriot Act, and Beneficial Ownership
Prepare payoff letters based on requests received by customers, attorneys, or lenders
Perform additional duties as required
Bachelor’s Degree in accounting, finance, or business management preferred
Three to five years of commercial lending experience
Ability to review documentation while adhering to bank approval and regulatory guidelines
Exceptional attention to detail, with the ability to meet critical deadlines with limited supervision in a fast-paced environment
Exceptional oral and written communication skills, utilized to strengthen customer and business partner relationships
The above description covers the most significant responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job.
About Cambridge Savings Bank:
Cambridge Savings Bank is a full-service financial institution with approximately $5 billion in assets that is committed to improving the quality of life in the communities it serves. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services and has branches located in Arlington, Bedford, Belmont, Burlington, Cambridge, Charlestown, Concord, Lexington, Melrose, Newton, and Watertown.
Cambridge Savings Bank is an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.