Loan Administrator

Job Description

Job Description

The Washington Area Community Investment Fund (WACIF) seeks a full-time Loan Administrator who will provide administrative and client lending support services to the lending department. The Loan Administrator is a multifaceted role and will serve in 3 primary capacities: 1) loan administrator working with the lending team to effectively manage the daily loan pipeline and inquiries, manage client documentation; 2) provide client and customer support serving as the first point of contact for lending clients and potential borrowers; and 3) loan readiness advisor working directly with potential clients and helping them navigate the various options to become WACIF borrowers.

DUTIES & RESPONSIBILITIES

Loan Acquisition/Origination

• Answer and respond to client phone calls and inquiries for all aspects of the lending/loan process from loan acquisition to servicing and route them to the proper team member/department, taking direct action as needed;
• Review all inquiry forms in WACIF customer relationship management system and directs inquiries appropriately;
• Guide potential applicants through WACIF’s loan inquiry process and form;
• Educate and provide prospective clients with guidance on how to prepare and apply for a loan;
• Manage ongoing prospective client relationships until they are either 1) ready to apply or 2) decide not to apply;
• As the readiness advisor, regularly follow-up with the applicant and help them through the various steps of the loan process (application, document collection, clarifying questions, etc.);
• Escalate prospective client/applicant questions and concerns to Lending management when needed;
• Collaborate with the Small Business Credit Underwriter tracking stalled applications;
• Refer prospective clients to the business advisors (Programs) if technical assistance (TA) is required.

Loan Production/Servicing

• Pipeline management: monitor inquiry/application activities daily and ensure all applications process smoothly and timely;

1. Inform the Loan Business Manager of applications that are dormant or require action.
2. Direct application assignment(s) to lending staff following Loan Business Manager guidance;

• Troubleshoot and assist applicants with applications;
• Conduct an administrative review of submitted applications, noting errors and omissions, and verifying that:

1. All required and correct documents have been submitted.
2. The prospective client has properly completed all required information.
3. All third-party documentation has been downloaded and filled correctly in the client file.

• · Contact prospective client(s) to obtain missing data/documents and/or address any discrepancies/irregularities;
• · Customer Relationship Management (CRM): Investigate the accuracy of client information in the file(s);
• · Responsible for loan closing activities, and coordination with clients and the Lending Operations Manager;
• · Monitor lending email account and follow-ups;

System, Reporting, & Compliance

• Ensure data integrity regarding inquiries and applications within the CRM system;
• Provide administrative review of lending applications or quality assurance/control and compliance;
• Identify and flag anomalies and escalate questions/concerns to the Loan Business Manager;
• Manage and maintain client files and documents.

Other Duties as Assigned

• Support the Director of Credit & Risk and other team members on various projects and assignments;
• Additional duties and responsibilities may be assigned by management.

QUALIFICATIONS

• Bachelor’s degree from an accredited institution required;
• 3 years of administrative and customer service experience;
• Previous Loan administration/lending experience preferred;
• Excellent verbal, written, and interpersonal communication skills;
• Must have proficiency in data entry, attention to detail and excellent organizational skills;
• Detail–oriented, and ability to work independently and with a team;
• Prior work-related experience and knowledge of community development lending, Small Business Administration (SBA) loans, and traditional and alternative loan programs is beneficial;
• Hands-on experience working with small business owners is a plus;
• HubSpot experience, Project management experience or certifications are considered a plus.
• Proficiency with MS Office suite (Excel, Word, PowerPoint, MS Teams).

COMPENSATION

Competitive salary commensurate with experience. Medical, Dental, Vision, HSA, FSA, DCA, Life & Disability insurance coverages available. 401(k) retirement plan (employer matching contribution eligible); paid time off (increased with tenure), paid holidays and sick leave days, transportation benefits, and education assistance benefits (professional development, tuition reimbursement, and student loan repayment).

Company DescriptionAbout The Washington Area Community Investment Fund (Wacif)
The Washington Area Community Investment Fund (Wacif) advances equity and opportunity in the Washington, D.C. area’s underserved communities by providing financial capital, business advisory services, and strategic networking support to underinvested entrepreneurs. Since its inception in 1987, Wacif has deployed more than $100 million in capital, served more than 4,500 entrepreneurs with business advisory services, and helped create or retain more than 44,000 local jobs. To learn more about Wacif’s work, visit www.wacif.org.

Wacif is an equal opportunity employer and welcomes candidates from diverse backgrounds. Wacif provides a flexible and hybrid working environment with the opportunity to work remotely.

Company Description

About The Washington Area Community Investment Fund (Wacif) \r\nThe Washington Area Community Investment Fund (Wacif) advances equity and opportunity in the Washington, D.C. area’s underserved communities by providing financial capital, business advisory services, and strategic networking support to underinvested entrepreneurs. Since its inception in 1987, Wacif has deployed more than $100 million in capital, served more than 4,500 entrepreneurs with business advisory services, and helped create or retain more than 44,000 local jobs. To learn more about Wacif’s work, visit www.wacif.org.\r\n\r\n\r\nWacif is an equal opportunity employer and welcomes candidates from diverse backgrounds. Wacif provides a flexible and hybrid working environment with the opportunity to work remotely.