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Company: Valley Bank
Location: New York, NY
Career Level: Associate
Industries: Banking, Insurance, Financial Services

Description

Responsibilities include but are not limited to:

  • Act as liaison between loan officers and customers.
  • Request and review loan documents for the more complex loans, upon receipt from the Lender -- typically loans that are to close without outside counsel.
  • Complete commitment letters for Commercial loans in compliance with Loan Offering requirements.
  • Perform UCC and property searches or OFAC and SOS searches as required.
  • Perform post closing review of documents for propriety and completeness.
  • Follow up on expiring insurance policies to assure continuity of coverage on the Bank's collateral.
  • Investigate and determine the approval for release of collateral and loan documents on paid loans.
  • Review and investigate overdrafts on a daily basis, to assure resolution of any open items prior to the Bank's cut off time.
  • Monitor and update ticklers system for policy and document exceptions, insurance information, and financial data, to include contacting customer / CPAs / insurance companies for expired information.
  • Create new collateral files and file documents in existing files or scan documents, as necessary.
  • Follow-up for outstanding documentation exceptions on new loans.
  • Release documents on paid loans.
  • Review on a daily basis the Over Draft Report and follow up on Commercial accounts for payment / rejection within the Bank's daily cut off time.
  • Assist Loan Officers on expired line renewals as necessary.
  • Assist Department staff with their assigned tasks as needed.
  • Monitor AML/ BSA Compliance and update utilizing various ticklers or direction from Manager or Lenders.
  • Follow up on past due accounts.
  • Problem resolution on customer inquiries.
  • Process advances and paydowns on loan portfolio.
  • Process extensions and construction advances and issue official checks at closings.
  • May prepare wire transfer requests.


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