Specialist, Commercial Loan Operations

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.  

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Responsible for managing the administrative aspects of commercial loans, including accurately processing loan documents, maintaining loan records, ensuring compliance with regulations, servicing client loan accounts, and resolving any issues related to commercial loans, all while upholding the bank's policies and procedures to protect its interests; essentially acting as the behind-the-scenes operator ensuring smooth loan lifecycle management for commercial borrowers. The ideal candidate will possess excellent analytical and problem-solving skills. This is an entry-level role with incredible growth opportunities. 

Key Responsibilities:

• Review and understand commercial loan documents to service loans in senior and subordinate positions in accordance with documented terms.

• Accurately input data into system of record to ensure commercial loans will be serviced according to the loan documents and overall procedures.

• Report and actively pursue resolution of past due items and matters of default in accordance with documented terms.

• Establish and maintain organized commercial loan credit files.

• Adhere to timelines and deadlines established based on client needs and department workflow.

• Dive into the details: Support the loan process by preparing and reviewing loan documentation, ensuring accuracy and completeness. This involves analyzing key documents, putting your analytical skills to work.

• Master the flow:  Manage loan servicing activities, including payment processing, loan advances, escrow administration, and monitoring.  You'll learn the intricacies of loan accounting and ensure compliance with regulatory requirements.

• Collaborate and contribute: Work closely with Relationship Managers, outside financial institutions, borrowers, and internal teams (including credit, legal, and portfolio management) to facilitate smooth loan transactions.  Your communication and teamwork skills will be essential.

• Become a financial expert: Develop a deep understanding of commercial loan products, structures, and risk assessment.  This role provides invaluable exposure to the inner workings of commercial finance.

• Grow and learn:  Participate in training and development designed to enhance your skills and industry knowledge. We are committed to investing in your future.

Skill/Experience Requirements:

• 0-3 years’ experience in the loan administration/servicing industry, ideally in business/commercial divisions preferred but not required

• Bachelor’s Degree in business, finance, accounting, or equivalent experience in related field

• Some knowledge of commercial loan documentation

• Exceptional attention to detail

• Strong problem-solving skills

• Ability to apply critical thinking skills to resolve issues with appropriate consideration given to potential benefits and consequences.

• Professional communication skills, both verbal and written

• Must be able to produce at a high level under limited supervision and meet imposed deadlines in a fast paced, demanding environment.

• Must be able to work independently and in a cooperative team environment; and

• Comfortable in a fast-paced atmosphere with varied responsibilities based on priorities of the current situation.

• Strong comfort level with technology, including ability to adapt to new systems quickly and easily.

 The estimated salary range for this position is $26.00 to $31,000.00 USD hourly. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

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All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.