Job Abstract

Position Title

Location

Job Summary

Job Responsibilities:

Loan Booking - Requires a thorough knowledge and understanding of commercial loan documentation and the accounting system to which they are booked.  Must be extremely organized in thoughts and procedures. Is responsible for timely and accurate input and the ability to question when any documentation is outside the norm.  Must be able to book new, renewed, extended loans as well as Letters of Credit, Swap and ACH exposures.

Transaction Processing/Daily Report Review – Post transactions including payments, pay downs, payoffs, advances, adjustments to accounting system.  Requires a complete and thorough understanding of loan system in order to post properly.  The daily report review uncovers system errors that would not otherwise be caught. 

General Ledger balancing/Swap servicing and invoices – All transactions flow through two general ledgers that must be balanced daily.  There are hundreds of entries and all must be accounted for and organized.  Swap servicing includes monthly manual rate changes and 2-3 times a month reconciling with the third party vendor, as well as new Swap monetary activity.

 Participation Loan Booking and Monitoring:  Owning a group of participation loans, which includes daily, weekly, monthly updates for rate changes, advances and payments.  Must ensure that we stay in balance with lead bank and the monetary transactions and rate changes are done timely to avoid any unnecessary past due or out of balance situations.  Must be able to calculate interest by hand and communicate clearly both orally and in writing.  Requires wires to be created and/or verified in very large dollar amounts.  

Updating Borrowing Base Availability, Cross Training, Loan Maintenance and Updating Various Spreadsheets:  When notified of borrowing base changes, must make changes to Core system within the day to ensure availability of funds for customers.  Updates various spreadsheets to ensure proper recording of different types of loans, exposure, etc.  Cross trains to understand the basics of other participation loans and transaction processing and other department functions.  Make maintenance changes to core system as requested by internal staff.

Adhere to all REGULATORY AND COMPLIANCE issues linked to the job and the team and understand how these issues help the bank achieve the vision of remaining an independent bank. (required for all positions)

Staff member is expected to consistently adhere to regulatory and compliance policies and standards linked to their job as listed.  Staff member will not repeatedly act in a manner signifying intentional or willful noncompliance, nor exhibit gross negligence or a general disregard for compliance and regulatory standards. Staff member must ensure compliance with applicable federal, state and local laws and regulations. Staff member must complete all required compliance training on a timely basis. Staff member will maintain knowledge of and adhere to Flagstar’s internal compliance policies and procedures. Staff member must take responsibility to keep up to date with changing regulations and policies.

COMPETENCIES

Core Corporate Competencies

Compliance

Ensures compliance with applicable federal, state and local laws and regulations.  Completes all required compliance training.  Maintains knowledge of and adhere to Flagstar’s internal compliance policies and procedures.  Takes responsibility to keep up to date with changing regulations and policies.

Collaboration

Understands the importance or relationships to enable effective teamwork.  Modifies personal style, focuses on the needs of others, and listens effectively to ensure effective outcomes for group endeavors.

Results Focus

Takes a dynamic approach to work characterized by initiating decisions and actions.  Concentrates on achieving the outcomes of a process or project while adhering to the overall strategy of the organization.  Creates a culture of accountability and performance.

Work Ethic

Demonstrates attributes of ethical behaviors, high personal standards, and sound work ethic all employers should expect of employees.  Consistently treats others with respect and understanding.  Responds in a timely manner to all customers and co-workers.

LEVEL OF EDUCATION / EXPERIENCE / KNOWLEDGE:

HS Diploma, GED or Foreign Equivalent        

• 5+ years in commercial loan operations, commercial servicing or similar loan servicing experience
• Considerable exposure to commercial loan documentation preferred

SKILLS:

• Demonstrated ability to understand and interpret loan documentation
• Good analytical and problem solving skills
• Excellent verbal and written communication skills
• Willingness to work in a team environment
• Intermediate understanding of MS Excel
• Automated Financial Systems (AFS) experience preferred

PHYSICAL DEMANDS (ADA):  

No unusual physical exertion is involved.

The job requires a moderate degree of physical exertion and stamina such as standing, sitting, walking, driving or infrequent lifting.