Description/Job Summary

The Loan Process Specialist serves in the Field Operations Department and reports directly to a Regional Manager located in one of the regional offices. This role acts as the "Deal Champion" for loans and ensures timely and accurate processing of loans originated by Lending AVP/VP and RM. The Loan Process Specialist participates in several stages of the credit lifecycle for all relevant loans. This includes aggregating and organizing all pre-underwriting documents, maintaining accurate and complete electronic files, completing loan due diligence tasks, reviewing loan documentation, coordinating, and occasionally attending loan closings, and preparing loans for booking in the loan origination system.

Responsibilities/Duties

Qualification of Loan Credit Package

The Loan Process Specialist serves as the Deal Champion support person for all loan application activities, ensuring that required documentation is gathered, reviewed, and organized for submission to the Credit Services Department (CSD). Key activities include:

• Assists the Lending AVP/VP and RM with pre-qualification information, which includes the following responsibilities:

• Gathering prospect or member information necessary to qualify a loan opportunity, including drivers' licenses, financials, information pertaining to scope of operations, and entity documentation

• Assessing qualitative and quantitative business and financial information, in conjunction with the Lending AVP/VP or RM, and conducting follow- up inquiries with prospect or member for clarification

• Reviews members' trust agreements, articles of organization, and operating agreement to ensure the right to borrow, pledge, and mortgage

• Inputs all relevant loan information into LOS

• Submits loan in LOS to CSD and serves as the Deal Champion on all submitted loans by responding to internal and external inquiries.

• Assists in following Territorial Concurrence procedures, ensuring compliance with regulations

Loan Processing & Document Preparation

The Loan Process Specialist reviews and processes new and existing loans, and services loan requests and inquiries in a timely manner. Key activities include:

• Prints and signs or obtains Authorized Representative Signature for Notice of Approval and/or Prints Statement of Credit Denial

• Completes initial interest rate lock in LOS per request of Lending AVP/VP or RM and monitors open rate lock commitments

• Upon notification of a Fraud Alert for a member, works with Lending AVP/VP or RM for verification and signature to Approve and Proceed.

• Completes and leads FLCA-related processing activities, including:

• Collects information to identify real estate location, type, and improvements

• Requests value of collateral (e.g., appraisal) based on information collected

• Orders and completes initial review of loan title work.

• Understands and facilitates processing activities associated with FLCA loans which includes the following key responsibilities:

• Submits a request to Compeer Financial, for preparation of FLCA Loan Documents, and serves as the primary contact for inquiries

• Reviews prepared FLCA loan documents and requests modifications in a timely manner if errors

• Coordinates with the Member and Title Company to ensure all requirements will be satisfied prior to closing.

• Provides written loan closing instructions Compeer to the Title Company as well as all relevant loan documents for FLCA loan closings

• Completes Closing Instructions from Compeer for FLCA loans

• Coordinates, scheduling for the Member, Lending AVP/VP or RM, and Title Company, ensuring all parties are accommodated

• Reviews PCA Closing Instructions and Loan Documents for accuracy and returns to Loan Operations for modifications as observed or as requested

• Gathers all loan-related documents and prepares for PCA loan closing

Non-Traditional Loan Processing

The Loan Process Specialist executes the process and procedures related to non-traditional or infrequent loan situations, including government loans and joint checks. Key responsibilities include:

• Serves as the primary lead on Farm Service Agency ("FSA") loan processing, documentation and follow up

• Completes necessary tasks associated with the joint check process and procedure

Loan Closing, Booking, & Funding Processing

The Loan Process Specialist ensures, prior to booking, loans are properly set up in the system, closed accurately in a reasonable timeframe with a positive member experience. Key responsibilities include:

• Assists the Lending AVP/VP or RM in the loan closing process

• Reviews loan documentation after the loan closing for accuracy (e.g., correct placement of signatures by all parties)

• Submits a copy of the Promissory Note and other relevant loan documentation as a request to Central Loan Accounting (CLA) to book loan

• Submits original loan documents to the Collateral Custodian at AgriBank

• Reviews disbursement requests and requirements, disburses funds accordingly, and monitors disbursement availability for construction loans

• Completes and leads certain FLCA-related loan closing activities, including:

• Recording the real estate mortgage if the loan is closed solely by Farm Credit Illinois

• Reviewing Loan Title Policy and Recorded Mortgage and Submitting Loan Finalling Request to Compeer

• Reviewing and Updating Unfinaled Loan Report

• Uploading Loan Finalling Certification from Compeer in ECM

• Submits the UCC-1 to the third-party provider Lien Solutions once loan is closed and the Security Agreement is signed, and uploads filed UCC-1 to the ECM

Member Services & Portfolio Management

The Loan Process Specialist facilitates loan-related requests to ensure accurate and timely completion, identifies opportunities for cross-selling additional products or services, and monitors the loan portfolio to ensure documentation current. Key tasks include:

• Compiles necessary documents to submit loan servicing request to CSD based on member requests

• Promotes and sells additional products and services (e.g., online banking) to members by identifying needs and responding to cross-sell opportunities

• Monitors insurance documentation associated with new or existing loans to ensure procedural requirements have been satisfied

• Provides guidance to the Member Service Specialist regarding the UCC-3 continuation and amendment processes

• Provides assistance in the absence of MSS

Project & Training Participation

The Loan Process Specialist seeks to make an impact within the association through participation in strategically significant projects and training sessions. Key tasks include:

• Participates in committees to provide insight as requested and determined by the Regional Manager

• Participates in all required training sessions as requested and determined by the Regional Manager

Data Security and Confidentiality

• Appropriately protects the confidentiality, security, and integrity of the Association's systems and data and clients' data

Required Skills

• General knowledge of accounting principles, practices and methods

• Working knowledge of credit processing processes and procedures

• Skill in listening and conveying awareness of a customer's problem or issue to find resolution

• Skill in utilizing a systematic approach to problem solving

• Skill in interacting and working effectively with others

• Skill in gathering, compiling and organizing information

• Skill in performing a variety of duties, often changing from one task to another of a different nature

• Skill in utilizing technology to increase efficiency

• Skill in establishing and maintaining cooperative working relationships with coworkers

• Skill in hearing with thoughtful attention

• Oral and written communication skills, sufficient to exchange information effectively with peers, supervisor and customers

Required Qualifications

High school diploma and 3 years of related work experience in areas such as finance, accounting or general business;

Or equivalent education, experience, and skillset sufficient to perform the essential functions of the job