Commercial Loan Administrator

Veritas Partners; King of Prussia (PA); On-site; USD 70,000 - 90,000; Full time

Job summary

Veritas Partners is seeking a detail-oriented professional to support commercial real estate loan servicing and construction loan processing. You will coordinate loan setup, budgets, and data integrity across inputs and documentation, ensuring accurate funding and post-closing administration.

The role involves working with multiple bank units to track draws, verify letters of credit, and maintain ledger accuracy for ongoing loan activity in a fast-paced finance environment.

Qualifications

• Bachelor’s degree in accounting, finance, or related field or comparable experience in construction loan servicing or commercial banking.
• Knowledge of transaction data entry and understanding of debits/credits; ability to proof and balance accounts.
• Working knowledge of general ledger automated systems preferred.

Responsibilities

• Works with Operations Unit Manager and Finance groups to set up new commercial real estate and construction loans.
• Prepares loan setup data, reviews budgets, and ensures accuracy of input data.
• Coordinates disbursement funds, draws, and closing with Finance Department and Loan Operations.

Skills

Transaction data entry

Debits/credits

Ledger systems knowledge

Education

Bachelor's degree in accounting/finance OR equivalent experience

Job description

• Works with Operations Unit Manager, Real Estate Finance Risk Manager, Real Estate Finance Processor and Relationship Manager to set up new commercial real estate, construction loans and request new loan numbers.
• For more complex construction loans, prepare new loan set-up data sheets and review new construction loan information in the Pipeline section of the construction loan system. Sets up loan budget; reviews data input for accuracy and assures that new loan set up line-item budgets are in accordance with approval. Understands and implements required primary and subaccount data entry input. Reviews essential documentation ensuring that original executed Note is received prior to funding.
• For all Real Estate Finance construction loans, assured pre-closing on-going draw disbursement funds are reserved with Finance Department Funds Manager and coordinates actual funding with Loan Operations Accountant at closing and for all subsequent draws.
• Set up construction loan disbursement files; set up new borrower portfolio files or assure new loan information is included in existing portfolio files.
• Ensures all Letters of Credit are properly accounted for on the Construction Loan System Budget. Track the respective Township Release(s) for each Letter of Credit.
• Prepares and presents disbursement documentation from the system, monitors and balances disbursement report. Works with Operations Unit Manager and Real Estate Finance Reporting and Risk Management Unit Manager to assure accurate set up and administration of all loan Syndications/Participations – In or Out.
• Track escrow account information, ensuring complete accuracy of account information. Maintains the integrity of the system data.
• Reviews monthly interest billing statements for accuracy. Monitors’ interest reserve adequacy on all accounts; assures accurate billing if interest reserves are exhausted.
• Alerts management to process and procedural changes concerning the daily, monthly and continuing responsibilities associated with managing and controlling construction loan information interfaced with bank wide Accounting and Finance systems for the construction loan system used by the Loan Operations Accountant, lending staff and this position. Works with and coordinates specific job activities with the Real Estate Finance Construction Loan Processor to assure adequate backup. Provides excellent customer service to clients. Responds to general inquiries on loan status.

REQUIREMENTS:

• Bachelor’s Degree in accounting, finance, or related field; OR comparable experience in

construction loan servicing or a commercial banking position

• Knowledge of transaction data entry and understanding of debits/credits as well as proofing and balancing accounts.
• Working knowledge of general ledger automated systems preferred.