Loan Operations Associate

First Business Bank; Madison (WI); Hybrid; USD 40,000 - 70,000; Full time

Benefits offered by this job

Comprehensive total rewards

Flexible work model

Employee engagement initiatives

Job summary

An innovative financial institution is seeking a detail-oriented Loan Operations Associate to join their dynamic team. In this hybrid role, you will play a crucial part in ensuring the accuracy of loan documentation and compliance with legal requirements. Your responsibilities will include reviewing loan requests, managing daily reports, and maintaining organized documentation systems. This is an excellent opportunity to contribute to a company that values its employees and is committed to community improvement. If you have a background in loan processing and are passionate about providing exceptional service, this position offers a rewarding career path.

Qualifications

• Prior experience in loan processing or banking preferred.
• Strong interpersonal and organizational skills are necessary.

Responsibilities

• Perform quality review of booking and funding of contracts.
• Verify loan request approvals and documentation accuracy.
• Manage daily reports and documentation indexing.

Skills

Loan Processing

Interpersonal Skills

Organizational Skills

Education

Experience in Banking

Tools

Loan Management Systems

Documentation Software

Job description

Join the growing team at First Business Bank as the Loan Operations Associate - Hybrid!

First Business Bank is a Top Workplaces USA company, learn more here.

At the heart of First Business Bank, we believe success comes down to putting people first. Our people are our priority — they embody ambition, experience, and client focus. The result is extremely engaged employees who provide unmatched client satisfaction. With comprehensive total rewards to support our team members, a commitment to valuing each other’s differences, and a focus on improving our communities, we are confident you’ll find the experience is your advantage. We’re delighted you’re considering joining us!

The Loan Operations Associate is responsible for ensuring the Bank’s security interests are protected by performing quality review of the booking and funding of contracts in the applicable systems, ensuring the accuracy and completeness of documentation, and identifying inconsistencies to applicable legal requirements and loan policy.

Work Model: This role requires three days onsite at our Madison, WI location.

Essential responsibilities of the Loan Operations Associate:

Quality Review

• Verify loan request has appropriate approval as required by loan policy.
• Review documentation for accuracy and completeness, in accordance with applicable legal requirements and the bank’s loan policy.
• Review the booking and funding of contracts in applicable systems.
• Review setup of ticklers for UCC filings, vehicle titles, insurance, and other applicable items.
• Log and track exception items requiring processor follow-up.

Daily Reports and Maintenance

• Review daily reports and log new contracts to be reviewed.
• Review maintenance performed by processing team and verify supporting documentation received.
• Clear exception items.
• Update ticklers for post-closing items received.

Document Management

• Index all documentation received in applicable system.
• Verify scanning and indexing to ensure accuracy and completeness.
• Create or add to existing loan file with wet ink, original documents received.

Paid Contract Processing

• Log paid contracts on tracking spreadsheet.
• Obtain required approvals for release of collateral.
• Perform release of collateral – vehicle titles and UCC filings.
• Update applicable systems to reflect payoff.
• Index paid contract documentation in applicable system.

Position Requirements:

• Prior experience in loan processing or banking preferred.
• Strong interpersonal skills are necessary to work with internal partners when identifying, notifying and resolving all system input errors, incorrect or missing documents and policy exceptions.
• Strong organizational skills and ability to prioritize tasks.