Commercial Processing Spec

Founded in 1963, FirstBank maintains more than $20 billion in assets and operates over 100 branch locations across Colorado, Arizona and California. Its growth can be attributed to one simple philosophy: do right by customers, communities and employees, which is at the center of the company's "banking for good" mantra. FirstBank believes that diversity, equity, and inclusion are part of everything we do, both within and outside our company, and prides itself in hiring and training a diverse and talented group. We strive to not only maintain a diverse workforce, but also ensure our employee experience garners a sense of belonging, is inclusive and equitable. FirstBank believes that a company is nothing without the people that comprise it, and prides itself in hiring and training a diverse and talented group. By joining the FirstBank team you will experience its great team culture with ample opportunity for growth. There's an opportunity for everyone with positions all across the company, from Teller and Call Center to Technology and Lending. Apply today to learn more and join the team!
A Brief Overview
Commercial Loan Processors are responsible for ordering, obtaining, reviewing, preparing and following up on documentation required to process commercial loan transactions. They act as the intermediary and central point of contact for branch loan personnel, third parties and internal departments. This position involves considerable analysis, administrative work, and communication in a fast-paced environment with constant deadlines. As a specialist, you are responsible for managing your individual work queue and engaging in judgment calls and decision- making.
What you will do

• Ordering and follow up on items for commercial loan file documentation.
• Confirm accuracy and completeness of all items.
• Demonstrate familiarity and complete initial reviews of collateral and supplementary file documentation such as: flood determinations, FirstBank Combo/Hazard statements, payoff statements, title commitments, commercial disclosures, and tax verifications.
• Complete business entity name and Uniform Commercial Code (UCC) lien searches.
• Develop and maintain the understanding necessary to research, review, and summarize UCC documentation to determine requirements to perfect our security interest and assist loan officer and market loan staff with resolving outstanding issues.
• Responsible for enterprise-wide UCC collateral perfection including preparing and filing UCC Financing Statements, following up on payoffs, subordinations, and terminations.
• Complete a thorough review of the weekly and monthly UCC reports.
• Work with recording agencies if various states and counties to determine proper filing requirements to ensure UCC collateral perfection.
• Conduct a thorough review of standard to mid-range complexity commercial loan file documentation prior to closing to ensure that documents are prepared accurately with proper title, dates, dollar amounts, guarantors, collateral, covenants, etc.
• This position will encompass commercial loan types, varying in complexity, including Business Lending, CRE Construction, Purchase, attorney prepared transactions, and 1031 exchanges.
• Review and prepare standard to mid-range complexity loan file documentation accurately and within compliance of all state and federal lending regulations, FirstBank Loan Policy, Appraisal Policy, and Loan Committee requirements, as well as internal policies and procedures.
• Work closely with branch loan officers, loan assistants, and other team members to understand and interpret documentation required for various types of commercial loans and requesting information from branch loan personnel as needed.
• This includes specific required document language included in internally prepared documents as well as attorney prepared documents (covenants, special terms, monitoring/documentation requirements).
• Frequently communicate with Loan Officers, title companies, insurance agents, and other 3rd parties as well as internal departments to compile the required loan documentation.
• Establish an advanced knowledge of internal loan policies, commercial loan products, and lending regulations as well as an advanced knowledge of commercial loan software and other internal applications.
• Review and analyze corporate, collateral and supplementary file documentation to confirm accuracy, completeness, and compliance with federal regulations, Loan Committee requirements and internal loan policy.
• Complete all requirements to perfect security interest in various types of collateral including commercial real estate, accounts receivable, equipment, etc.
• Analyze various types of commercial loan terms and structures and ensure they are accurately depicted in the loan documents.
• Prepare loan closing documents in a timely manner to meet the set closing date.
• Communicate with outside attorneys on loan structures and review attorney prepared loan documents for compliance with Loan Committee requirements and internal loan policy.
• Train and mentor new Commercial Originations employees, providing guidance and acting as a subject matter expert.
• May act as a resource to Officers and market loan staff.
• Complete internal loan worksheets needed to accurately disburse, set up, monitor and report loan transactions.
• Advanced understanding of loan coding such as HMDA/CRA and call types for proper regulation reporting and internal reports and analysis.
• Perform other duties and projects as assigned.
• Understand and comply with all provisions of the Safety in the Workplace policy.

Minimum Requirements

• Typically requires a minimum of 2 years related experience

Preferred Requirements

• Working knowledge of lending principles, commercial loan products, and the commercial originations process.
• Ability to manage a full workload with little assistance.
• Effectively communicate guidance to other team members to ensure a quality loan product.
• Ability to see trends and anticipate wide implications; provide innovative solutions.

Knowledge, Skills, and Abilities

• Excellent time management and organizational skills.
• Innovative problem solving and decision making skills.
• Self-motivated.
• Detail oriented.
• Confident working with various computer applications including Microsoft products.
• Comfort in a fast-paced office environment.
• Working knowledge of lending regulations such as Reg B, HMDA and CRA, and Flood.
• Complete understanding of FirstBank Loan Policy, Appraisal Policy, and Loan Committee requirements.
• Competency in Federal and State regulations related to lending.
• General understanding and ability to analyze CRE, Business, trust, and lease structures, valuation methods, lease terms, and loan covenants.
• Ability to train and develop less experienced Quality Control and Commercial Coordination staff.

Working Conditions and Physical Requirements

• Frequently remains stationary throughout a typical business day
• Frequently operates a computer and other office machinery, such as a calculator, copy machine, and computer printer
• Occasionally moves about inside the office to access file cabinets, office machinery, and other rooms
• Occasionally positions self to access drawers and shelves of various heights
• Frequently reaches for and handles paperwork and files
• Constantly communicates with customers, coworkers, and management in-person and on the phone
• Must be able to exchange accurate information

Salary Range
$23.70 Per Hour to $31.65 Per Hour
Statement of Benefits
FirstBank offers a suite of benefits that support our employees' professional, financial, physical, emotional and spiritual well-being. Benefits currently offered with our positions include: Paid Time Off/paid leave programs, 401K/Employee Stock Ownership, United Healthcare medical, MetLife dental, VSP vision, Employee tuition reimbursement, Volunteer Time Off, Short-Term Disability, Long-Term Disability, and Group Life Insurance/AD&D
FirstBank is an EOE/Affirmative Action employer. All qualified applicants will receive consideration for employment without regard to age, race, color, religion, sex, sexual orientation, gender identity, national origin, genetic information, disability, veteran status, or any other applicable status protected by state or local law. FirstBank does not permit pay inequities. Anyone who believes they have been subject to pay inequity should immediately report their concerns to the Human Resource Department.
*This job opportunity is expected to close on March 1, 2024 *
*This job opportunity's deadline has been extended to March 20, 2024*
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)