Loan Operations Specialist

Job Description

Job Description

Description : About Locus :

At Locus, we know communities thrive when they have equitable access to capital. We collaborate with stakeholders across the community development ecosystem to invest in communities with strong aspirations, while addressing challenges like a shortage of affordable housing, limited access to fresh food, a lack of quality jobs, and clean energy innovation. We believe a capital system that centers community input and impact is essential to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving places.

Locus is the parent organization for a family of community development enterprises, which includes a nonprofit CDFI loan fund, a CDFI bank, a fund management practice, and a national guarantee program. With offices in Christiansburg and Richmond, Virginia, Locus offers innovative and flexible financing tools and strategic consulting services to individuals and organizations in underestimated and excluded communities, most of which are low-to-moderate income. Alongside our many partners, Locus has generated over $2 billion dollars in total impact.

Locus is a nonprofit holding company regulated by the Federal Reserve. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org.

Position Overview :

The Loan Operations Specialist responsibilities will include but not limited to booking loans on loan system, imaging loan documents, verifying and auditing loan input, following up for loan documentation files, maintaining document tracking exceptions, performing loan research, and processing loan payoffs.

Essential Duties and Responsibilities :

Loan Booking

Book and verify new loans, renewals, modifications, letters of credit and guidance lines of credit for commercial lending

• Book and verify new SBA loans
• Post-closing loan review
• Arrange loan ACHs
• Post payments, draws, and principal reductions
• Edit loans booked to loan platform for accuracy
• Participation loan processing both purchased and sold
• Clear loan unposted transactions
• General loan account questions / research
• Execute recording / release of applicable documents
• Document exception tracking / reporting
• Update adjustable rate on all loan accounts

GL Reconcilement

Filing

Paid Loans

UCC Continuations

Insurance Monitoring

Customer Service

Reporting

Other Duties

Requirements :

Experience / Education / Certifications :

Skills Required :

Organizational Skills

Communication

Computer / Technology

Compensation and Benefits :

Locus is an Equal Opportunity Employer. Locus does not discriminate in hiring or employment practices on the basis of race, color, religion, gender, age, sexual orientation, marital or familial status, national origin, non-job-related disability, or status as a veteran.