Business Banking Loan Assistant

Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

Who We Are: Join an organization that prioritizes innovation, customer service and supporting the communities we serve. Love the people you work with while participating in and helping to shape our collaborative environment. When you join Salem Five, you become part of a growing, regional financial services company. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong Business Banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.

Why Salem Five: We’ve been around since 1855 – which means we will be around a lot longer – but we also know what it takes to be competitive in this day and age. We pride ourselves in being one of the first banks on the internet and continually try and push ourselves to offer the latest in online and mobile banking to serve our customers in whichever channel they prefer. Whether it be a virtual assistant via our website, obtaining cash at ATMs without a card present, or going through the mortgage process via our digital app, we want to offer the digital experiences that customers want. Continued company growth offers opportunities for individual growth.

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.

JOB DUTIES AND RESPONSIBILITIES include, but are not limited to the following:

• Provides superior service experience to clients and prospects, taking ownership of inquiries and requests, and following through to ensure timely response and accurate resolution.
• Communicates effectively and professionally with customers, coworkers, and vendors; vendors include closing attorneys, appraisers, environmental companies, and others.
• Provides administrative support to the CBB loan officers in the loan submission, closing, and servicing process by:
• Submitting completed loan packages to underwriting once the flood certification, certification of good standing and UCCs have been verified, if applicable.
• Reviewing all closing documents provided by attorneys for accuracy, for example, the loan note, loan agreement, guaranty, mortgage, etc.
• Preparing closing documents for loans closed by Salem Five.
• Ensuring all loan closing conditions and compliance requirements are met.
• Submitting closing packages, complete with all required loan documentation, checklists and booking memos to loan servicing for booking.
• Identifying, monitoring, and tracking of missing documentation and/or documentation that needs correction.
• Manages appraisal process in coordination with Credit Administration Officer, ensuring that all requests are submitted, bid out to appropriate appraisers, conducted, and received on time. Ensures all appraisals are reviewed and approved prior to closing and all related documentation is in the file.

• Coordinates with loan officer on the type of environmental report needed, if applicable, and orders a Government Records Review report when requested; ensures reports are properly maintained on file.
• Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position by:
• Ensuring that all requirements are met for loans on properties in a flood hazard zone, obtaining compliance department approval prior to closing.
• Reviewing all loans for MassCAP, NH CAP, CRA, HMDA and/or CDL reporting and accuracy and submitting the applicable forms when necessary.

• Provides loan officer and client support post-closing, acting as the primary service contact and coordinating with other departments when necessary.
• Coordinates all loan fundings, advances, and payments with the closing attorney (if applicable), loan officer, underwriter, portfolio manager, and loan servicing by:
  • Fundings: ensuring all loan closing conditions are signed off on by the underwriter and that the closing attorney agrees to the funding total, if applicable
  • Advances: Performing a check on the maturity or review date, good standing and UCCs prior to submission.
  • Loan Payments: Assisting with auto-pay set up and changes and monitoring monthly past due reports
• Tracks all appraisal, environmental, closing and other fees assessed to borrowers and reconciles related general ledger account(s) monthly.
• Opens escrow deposit accounts when required by underwriting and performs monthly reconciliations.
• Assists with portfolio management by monitoring past due payments, preparing documents for demand loan annual reviews, annual renewals, and modifications as needed.
• Prepares several routine monthly reports, some of which for internal use and others for submission to the SBA. Processes related outgoing wire transfers and/or payments as applicable.

Education and/or Experience

Minimum of high school diploma or GED; demonstrated capability and familiarity with Microsoft Office applications is required. Two or three years of experience and/or related training in a client-focused, business environment required. Prior administrative support experience is a strong plus.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is frequently required to stand; walk and sit. Specific vision abilities required by this job include close vision.

Benefits/Incentives: Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more

Salary Range: Competitive Base

Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you.

Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)