Loan Associate

Position Summary

A Loan Associate is essentially a loan officer in training. Their primary job is to support loan officers with their daily tasks in order to facilitate smooth loan transactions. A loan associate is responsible for processing loan applications in compliance with bank policies, meeting investor guidelines and demonstrating lending strategies. This individual also provides loan support functions to include documentation origination and evaluating loan servicing, authorization, and/or recommend the approval of commercial, credit, or real estate loans.

Essential Duties and Responsibilities

• Meets with loan officers to determine what tasks need to be addressed.

• They can attend meetings between loan officers and customers where the loan officer is trying to determine customer needs and negotiate deals

• Manages the loan processes to include pre-processing steps (ordering title policies, EDR, surveys, etc.), processing steps (preparation of loan documents and closing coordination), and post-closing (monitoring and booking of the loan)

• Orders revision loan documents, appraisals, and environmental documents as determined

• Orders updated customer financial statements as needed

• Acts as liaison with various departments. Responsible for providing services to commercial customers including but not limited to the processing of loans, payments, financial analysis, statements, etc.

• Reviews documentation for renewals and restructures as approved by management

• Assists with arranging renewal closings and restructure loans

• Effectively processes loan requests under supervision, by obtaining, verifying, completing, and maintaining the necessary loan documentation

• Conducts research and reviews liens, title searches, and title commitments and works with Loan Officer to clear all exceptions

• Processes and completes construction draw, payments, new loans, and renewals

• Reviews accepted collateral types for appropriate documentation

• Provides support in recording and filing pertinent collateral documents (i.e.. Deed of Trusts, UCCs, Fishing Vessel Mortgages)

• Provides support in maintaining loan files and following up with annual reviews and financial tracking

• Assists other lenders as needed

• Presents credits to Loan Committee for approval

• Assures customer service is a top priority whether internally or externally, treating customers and employees professionally, with courtesy, and respect

• Actively sells and promotes the company’s full line of services and products

• Reviews credit memos and loan files to ensure they have all the pertinent information necessary to create loan documents

• Assists Loan Servicing in ensuring all disclosures are completely error-free

• Assists Loan Servicing in creating and proofing loan documents for consumer and commercial loans

• Reviews loan documents for consumer and commercial loans

• Provides support in booking loans and collateral information into the internal banking system

• Stays current on loan policies and procedures for the bank and at the regulatory level

• Liaisons with the Legal Service Department and ensures that protocol is maintained

• Expands relationships with existing clients and brings in new relationships to the bank

• Generates leads through well-established relationships with professional advisors and continues to cultivate a network of additional professional advisors

• Analyzes, structures, and negotiates complex loan opportunities to win new business in accordance with policies and sound risk management practices

• Oversees and negotiates the preparation of documentation necessary for the financing agreement

• Be familiar with the employee handbook and will be held accountable to the standards of conduct and expectations detailed therein.

• Performs other duties as assigned

Minimum Qualifications (Knowledge, Skills, and Abilities)

• High school diploma or equivalent and on-the-job training

• Previous experience in loan processing, accounting, and servicing strongly desired

• Computer proficiency at a mid to expert level in Microsoft Office programs, expert level in excel required for related analysis of customer financials

• Understanding of commercial banking laws, bank products, services, policies, and procedures, as well as cost accounting, financial and statistical analysis, principles of commercial and consumer credit

• Thorough understanding of Federal Housing Authority (FHA), Veterans Affairs (VA), Federal National Mortgage (Fannie Mae), and other types of construction and conventional loans

• Knowledge of legal documentation is required

• Certification of any mandatory state loan officer training or licensing required

• Demonstrated ability to use various interpersonal styles and communication methods, to gain customer acceptance of a product or service

• Ability to work on multiple projects simultaneously, managing time and resources to ensure work is completed efficiently and within established timeframes

• Strong organizational skills and the ability to handle multiple tasks under tight time constraints

• Excellent verbal and written communication skills

• Self-motivated with a high level of problem-solving skills

• Excellent time management skills and the ability to complete tasks on time

Physical Demands and Work Environment

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable individuals with disabilities to perform the functions. While performing the duties of this position, the employee is regularly required to talk or hear. The employee frequently is required to use hands or fingers, handle or feel objects, tools, or controls. The employee is occasionally required to stand; walk; sit, and reach with hands and arms. The employee must occasionally lift and/or move up to 15 pounds. Specific vision abilities required by this position include close vision, distance vision, and the ability to adjust focus. The noise level in the work environment is usually low to moderate.


This job description in no way states or implies that these are the only duties to be performed by the employee(s) incumbent in this position. Employees will be required to follow any other job-related instructions and to perform any other job-related duties requested by any person authorized to give instructions or assignments. All duties and responsibilities are essential functions and requirements and are subject to possible modification to reasonably accommodate individuals with disabilities. To perform this job successfully, the incumbents will possess the skills, aptitudes, and abilities to perform each duty proficiently. Some requirements may exclude individuals who pose a direct threat or significant risk to the health or safety of themselves or others. The requirements listed in this document are the minimum levels of knowledge, skills, or abilities. This document does not create an employment contract, implied or otherwise, other than an “at will” relationship.