Documentation & Loan Specialist I

Beacon Bank; Worcester (MA); On-site; USD 28,000 - 44,000; Full time

Job summary

Beacon Bank in Worcester, MA seeks an entry-level Documentation Specialist I for the Commercial Loan Documentation team. The role reviews loan documentation, ensures collateral perfection, and processes new relationships and renewals per policy.

Responsibilities include closing support, exception tracking, and compliance with banking regulations. Bachelor’s degree or equivalent experience preferred; 2+ years in loan documentation desired.

Qualifications

• Bachelor’s Degree preferred or equivalent experience required.
• 2+ years’ commercial loan documentation experience preferred.
• Proficient with Microsoft Office (Word, Excel) and the Internet.
• Strong verbal/written communication skills and attention to detail.

Responsibilities

• Review loan approvals to ensure policy compliance and mitigate risks.
• Review attorney-prepared documents for conformance and coordinate changes before closing.
• Assist in loan closings, support funding and fees, and track exceptions.
• Provide follow-up reporting of loan exceptions and reconcile AR for pre-closing expenses.
• Ensure compliance with banking laws and internal policies.

Skills

Loan documentation

Attention to detail

Multitasking

Strong communication

Organizational skills

MS Office proficiency

Education

Bachelor’s Degree or equivalent experience

Tools

Archer system

MS Office

Job description

Division: Commercial

Department: Commercial Loan Documentation

Reports to: Commercial Loan Documentation Manager

Status: Non-Exempt

Grade: 7

Salary Range: $20.50 - $32.12

Actual compensation within the pay range will be determined based on factors including, but not limited to, skills, prior relevant experience, and specific work location.

Location: Worcester, MA

Purpose/Objective: The Documentation and Loan Specialist (DLS) I is responsible for the review of commercial loans ensuring that all document and perfection requirements have been met and that the bank’s position and security interest has been satisfied following Bank policy and procedures. The DLS I is responsible for reviewing a wide variety of loan and line products from simple to complex transactions and perfecting collateral documents. The DLS I will process all new relationship setups on the loan origination system along with modifications and renewals of the relationships. The DLS I will be responsible for meeting completeness, turnaround time and accuracy requirements dictated by established Operating Procedures.

Key Accountabilities:

• Reviews loan approval to ensure compliance with bank policy and to ensure all risks are mitigated. Performs various searches prior to closing to ensure Bank’s collateral position and validity of borrower name. Ensures US Patriot Act, Regulation B and Flood pre-closing requirements are met. 35%
• Reviews attorney prepared loan documents to ensure they conform with loan approval and commitment letter. Coordinates any necessary changes prior to closing. Primary liaison with bank counsel and Commercial Relationship Manager. 35%
• Assists in loan closings, supports funding and management of fees prior to and at closing. Reviews loan documents following the loan closing for completeness and identifies any loan exceptions. Images loan documents and sends to safekeeping. Creates and tracks loan exception and documentation ticklers. 20%
• Provides follow-up reporting of loan exceptions, reconciliation of Accounts Receivable for pre-closing expenses, and completion of compliance tests in Archer system. 10%
• Ensures compliance with all banking laws, rules, regulations, and prescribed policies/practices/procedures necessary to reduce risk and uphold ethical standards related to and required by one’s duties.

Education:

• Bachelor’s Degree preferred or equivalent experience required

Experience:

• 2+ years’ commercial loan documentation experience preferred

Skills & Knowledge:

• Proficient with Microsoft Office, Word, and Excel and the Internet
• Strong verbal/written communication skills
• Ability to multitask
• Strong organizational skills
• Attention to Detail

Beacon Bank is an Equal Opportunity Employer - all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, or national origin. If you would like to contact us regarding the accessibility of our website, need assistance completing the application process, or would like to request alternative methods of applying, please contact us at [e-mail].