Job Summary
The Loan Support Specialist is responsible for supporting commercial customers by providing direct administrative support to the lending staff and playing a critical role in the execution of the Bank credit and lending process. As a Loan Support Specialist you will interact, support, and build relationships with a variety of internal partners and external clients. This is the perfect opportunity to become acquainted with our commercial banking products and services. An ability to work in a fast-paced environment, adaptability to change, desire to learn new skills, an affinity for teamwork and a passion for providing excellent customer service are keys to success.
Essential Functions
Employees must be able to perform the essential functions of this position satisfactorily or make a request for reasonable accommodations as needed.
Loan Documentation & Processing
- Prepare, review, and verify commercial loan documentation for accuracy and completeness.
- Coordinate loan closings with bankers, attorneys, clients, and internal loan operations team.
- Ensure proper execution of promissory notes, security agreements, guarantees, collateral documents, and other supporting documentation.
Credit & Underwriting Support
- Assist bankers in gathering financial statements, tax returns, borrowing base certificates, compliance certificates, and other supporting documentation.
- Review loan approval terms to ensure documentation aligns with credit authorization.
- Track loan covenants, ticklers, borrowing base certificates, and other financial reporting requirements.
Compliance & Risk Management
- Ensure adherence to internal credit policies and regulatory requirements.
- Maintain proper documentation for audits and regulatory examinations.
- Monitor insurance, UCC filings, collateral perfection, and lien positions.
Loan Servicing & Maintenance
- Process loan modifications, renewals, extensions, and payoffs.
- Manage escrow accounts and payment applications, as well as pricing grid changes.
- Respond to internal and external inquiries regarding loan accounts.
- Order appraisals, environmental reports, field exams, credit reports, good standing certificates, and other reporting as needed.
- Ensure file reporting requirements are accurately imaged on the system.
Reporting & Administration
- Maintain accurate loan files (electronic and physical).
- Generate portfolio and pipeline reports as required.
- Support quality control reviews and portfolio monitoring.
Other Functions
- Order branch-specific office supplies.
- Order promotional materials from the company store.
Education & Experience
- Associate or bachelor's degree in finance, Business Administration, Accounting, or related field (preferred).
- 5+ years of experience in commercial loan operations or banking support.
- Supported commercial loan closings typically ranging from $1MM to $20MM, ensuring accurate documentation, compliance, and timely processing.
- Knowledge of commercial loan documentation and credit processes.
- Familiarity with UCC filings, collateral documentation, and loan systems.
- Strong attention to detail and organizational skills.
We offer the opportunity for career growth and development in a professional and pleasant working environment. We offer a competitive salary and exceptional benefits package including:
- Health Insurance-Dacotah Bank pays 100% of the premium, family and individual coverage
- Dental Insurance-Dacotah Bank pays 100% of the premium, family and individual coverage
- Health Savings Account
- Life Insurance for the employee and family
- Paid Vacation and Sick Time
- Retirement Plan Options
- Additional Perks and Benefits