Loan Operations Specialist

About Locus

Locus (formerly VCC Social Enterprises) partners with communities where the capital system is not working to ensure that everyone, no matter their background, location, or economic status, can live in healthy, thriving communities. A capital system that centers community input and impact is essential to making this a reality.

Locus is a nonprofit holding company regulated by the Federal Reserve. Locus is the parent organization for a family of social enterprises, which includes Locus Bank, Locus Impact Fund, Locus Capital, and the Community Investment Guarantee Pool, or CIGP. Locus has generated over $2 billion dollars in total impact in local communities to create jobs, energize places, and promote an enhanced quality of life. With offices in Christiansburg and Richmond, Locus offers innovative and flexible financing tools and professional advisory services to individuals and organizations in low-to-moderate income and underserved communities. Locus Bank is an FDIC-insured, certified bank and B Corp offering products tailored to socially conscious investors, along with personal and business checking, savings, and certificate of deposit accounts. Locus Bank is a majority-owned subsidiary of Locus. Member FDIC. Equal Housing Lender. Learn more at www.locusimpact.org.

Opportunity:

Locus is seeking a Loan Operations Specialist to ensure accurate and timely operations of the Bank's loan process. Duties include but are not limited to booking loans on loan system, imaging loan documents, verifying and auditing loan input, following up for loan documentation files (credit/collateral), maintaining document tracking exceptions, completing, and reviewing daily reports and balancing, performing loan research, and resolving problems, 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 banking
• Book and verify new SBA loans
• Scan, index, and verify loan files to core system accordingly
• Post-closing loan review
• Post payments draws and principal reductions
• Edit loans booked to loan platform for accuracy
• Participation processing – both purchased and sold
• Clear loan unposted transactions
• General loan account questions/research
• Execute recording/release of applicable documents
• Document exception tracking/reporting

GL Reconcilement

• Balance loan general ledger clearing accounts

Filing

• Filing of all loan files
• Scanning trailing documents and filing them in the appropriate loan file
• Works closely with the lenders and auditors to pull files for review

Paid Loans

• Releasing collateral on loans such as UCC’s, Titles, and Deeds of Trust
• Sending paid loan documents to customers
• Segregating the Paid Loan files
• Process loan payoffs to include collateral releases

UCC Continuations

• Timely filing of UCC Continuations

Insurance Monitoring

• Review exception reports to ensure proper insurance coverage is maintained
• Coordinate Force Placing Coverage when necessary
• Customer Service
• Assist External and Internal Customers with questions or issues as they arise related to loans

Reporting

• Serves as back up for USDA Reporting semi-annually
• Review and update Loan Tickler Report
• Review and update Daily Loan Payment Report
• Review and update Post Closing Exceptions Report
• Review and update UCC Continuation Report

Other Duties

• Back up for Operations personnel
• Perform other duties as assigned

Education, Experience, Certifications:

• Minimum high school diploma
• 1 year to 3 years of experience in a commercial bank lending or Loan Operations environment
• Knowledge of accounting is a plus

Salary & Benefits

The salary range for the Loan Operations Specialist is $32,000-$60,000. Locus offers a competitive salary based on experience and skills, as well as an excellent benefits package including health, disability, life insurance, 401(k) savings plan with employer match, and paid time off.

**Position is Hybrid Remote; candidates should be accessible to either our Richmond or Christiansburg, VA. office

EEO Statement

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 family status, national origin, non-job-related disability, or status as a veteran.