Loan Ops Data Integrity Specl

Valley National Bancorp - Saint Petersburg, FL

Full-time - Mid Level

Saint Petersburg, FL

1,001-5,000 employees

Credit Intermediation and Related Activities

About the position

The Loan Operations Data Integrity Specialist at Valley National Bank plays a crucial role in ensuring that all loan approvals and documentation comply with the bank's lending authority requirements and regulatory standards. This position involves a thorough review of loan packages to confirm adherence to various regulatory requirements, including Flood, HMDA, CRA, and REG B. The specialist will work closely with lenders to resolve any discrepancies found during the review process and will report any significant issues to the supervising manager. In addition to compliance checks, the specialist is responsible for preparing booking sheets for processing clerks, ensuring that all borrower information, loan terms, and billing parameters are accurately inputted into the bank's systems. This includes selecting the appropriate loan account types and codes based on the specific loan terms and bank policies. For line renewals and modifications, the specialist will prepare coding sheets and ensure that any existing fees and prepayment penalties are correctly reset. The role also requires the specialist to audit output reviews to identify and rectify any keying errors, maintain error tracking spreadsheets for senior management, and manage the distribution of loan files for processing. Attention to detail and the ability to work in a fast-paced environment are essential for success in this position, as is the ability to handle multiple projects simultaneously.

Responsibilities

• Review each loan approval for appropriate lending authority based on loan type, exposure limit, etc. to ensure approvals are in compliance with Bank's Lending authority requirements as outlined in the Credit Policy Manual.
• Review loan packages for compliance with regulatory requirements i.e. Flood, HMDA, CRA, REG B, etc.
• Review lender supplied loan forms; i.e. TDR Assessment, LTV Calculator, Loan Exceptions, CIP, etc. for accuracy, consistency and compliance with procedures and directives published by Credit Risk Management. Work with lender to resolve any issues found; report any discrepancies to supervising manager as appropriate.
• For New loans: Read loan documents, approved loan offering and commitment letter (if applicable), and prepare booking sheets for processing clerks to utilize for Miser input. Select appropriate loan account type and Miser codes required to accurately input borrower information, loan terms, billing parameters, collateral information, escrow impound, deferred fees, deferred expenses, prepayment penalties, scheduled rate and payment changes, CALL Report codes, ticklers for exception tracking, etc. based on loan terms, bank policy, procedures and regulatory requirements.
• For Line renewals and modifications: Prepare coding sheets based on new loan terms approved on loan offering and/or commitment letter and new/modified loan documents. Earn out any existing fees, reset prepayment penalties etc., as applicable.
• Resolve any discrepancies in borrower name, address, tax id, etc. with lender, documentation department, branch system and/or CIF Department as needed.
• Distribute prepared loan booking sheets to Note Tellers for processing. Audit output review to identify and resolve any keying errors. Update error tracking spreadsheets for Sr. Mgmt as needed.
• Distribute files and insert documents to scanning, post closing or record retention for processing as appropriate.

Requirements

• Must be detail oriented and have ability to read and understand complex loan documents to accurately choose the correct loan codes, determine approvals, etc. (Credit Policy Manual).
• Knowledge of bank regulatory requirements; i.e. Flood Insurance, HMDA, CRA, Reg B, etc.
• Extensive knowledge of Miser software.
• Proficient PC skills including Microsoft Word and Excel.
• Must be able to work with mathematical data i.e. percentages, formulas, charts, and statistics to produce meaningful reports.
• Ability to work on multiple projects simultaneously.
• Ability to prioritize daily work assignments while working in a fast paced environment is required.
• High School diploma or GED and a minimum of 4 years experience in commercial loan operations.
• Bachelor's degree or Paralegal certificate preferred.

Benefits

• 401K Plan with a 3-4% match
• Above average vacation and paid time off package
• Health insurance coverage with no complaints based on current standards