Under the direction of the Credit Risk Officer, the Commercial Loan Administration Manager will oversee the Bank’s Commercial Loan Assistants to ensure that all loans are properly booked to the loan system, proper quality control measures are in place, required reporting is done on a timely basis, and appropriate disclosures are issued as required by Federal and State regulations. This staff member will also provide Commercial Loan Assistant coverage as needed.
Commercial Loan Administration Duties:
Manage the team of Commercial Loan Assistants, ensuring strong performance, proper staff development, and alignment with Pentucket Bank’s mission and culture.
Oversee the quality control review of all commercial loans to ensure that the loans are closed and booked as approved. Portfolio includes swaps, participations, and syndicated loans.
Ensure that all rate changes are done properly, including the testing and verification of new loan payments as well as the accuracy of new statements and rate review letters.
Review daily maintenance reports and reconcile system accounts.
Administer payments on interest rate swaps in conjunction with the bank’s third party dealer.
Prepare internal monthly and quarterly loan reports for Relationship Managers, the Executive Committee, and the Board of Directors.
Prepare various external monthly and quarterly filings for the Federal Reserve Bank, SBA, call report, etc.
Track credit memos, confirming loan approvals receive all necessary signatures and board approvals.
Commercial Loan Assistant Duties:
Provide assistance to the Relationship Managers and Credit Analysts, which includes preparation of loan packages, pulling credit reports, and other duties as necessary.
Prepare pre-closing checklist which includes:
Review of credit offerings
Review collateral files of existing loans for outstanding exceptions
Complete UCC, deed, corporate filing, and flood searches when applicable
Pull LexisNexis and OFAC findings
Order appraisal and environmental reports
Prepare closing packages; check documents for proper vesting, legal descriptions, closing dates and signatures. Issue clear to close for title insurance & insurance.
Coordinate closings with Relationship Manager, borrowers, and attorneys.
Fund and book new loans.
Prepare Letters of Credit.
Handle and problem solve customer service inquiries.
Participate in special projects as appropriate.
This position is responsible for the direct supervision of the bank’s team of Commercial Loan Assistants.
EDUCATION and/or EXPERIENCE:
Knowledge of laws and regulations governing lending (Federal and State), including escrow analysis, delinquency reporting, and insurance tracking.
Prior experience managing staff and achieving team wide goals.
Experience with internal controls and reconciliations.
Good communication skills and ability to work well with others and independently as the situation dictates.
Ability to write clearly and concisely as it relates to policies, procedures, and reports.
Excellent organizational and project management skills; ability to manage multiple tasks and projects simultaneously.
Bachelor’s degree or equivalent experience.
Bi-lingual a plus.
TECHNICAL AND OTHER SKILLS:
Proficient with standard computer applications (Windows, Outlook, Word, Excel)
Experience with Finastra suite of products preferred (Customer Management, LaserPro, Credit Quest, etc.)
OTHER SKILLS or ABILITIES:
Customer Service Disposition - Attends to both internal and external customers with a high level of service in line with the bank’s mission and goals.
Decision Making and Problem Solving - Makes decisions in a timely manner, uses a mix of analysis, experience, and judgment to solve difficult problems with effective solutions.
Informing and Communicating - Proactively communicates information to employees up, down, and across the organization; provides updates on projects, tasks and potential roadblocks.
Time Management - Uses his/her time effectively and efficiently; values time; concentrates his/her efforts on important priorities and completes tasks and/or projects on time.
While performing the duties of this job, the employee is regularly seated at a desk. The employee frequently pulls files from shelves and cabinets, and may be called upon to move a large number of files. Employee should be comfortable lifting up to 15 pounds at a time. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Pentucket Bank was established in 1891, when we received our Mutual Charter and opened for business four hours a week at 35 Washington Street in Haverhill.
Today, “banker’s hours” have expanded greatly, and Pentucket Bank continues to offer the same personalized service and community-minded banking as before, now paired with the modern technology and services you’ve come to expect from your bank. All this is delivered with a can-do mindset and surprising capabilities from our professional and caring employees.
Our headquarters (pictured above) is a good example of our mission at work. Once an abandoned and crumbling former Woolworth’s building, Pentucket Bank leadership helped organize and invest in a public–private coalition that revitalized the downtown area, stimulating investment across Haverhill that continues today. That’s the power of a strong community bank.
Pentucket Bank is a mission-based, community-minded bank that exists for the benefit of its community, its customers, and its employees.
As a mutually-owned institution, we do not have shareholders, so we pay our dividends to the community. Or, as we like to say, “We make money to give it away.” This allows ...us to provide a high level of personalized service to our customers while providing stability and support to our communities and employees. This is why we are committed to remaining a mutual bank for many years to come.
We have been recognized for our strong business practices by Bauer Financial Inc., an independent bank rating firm. Bauer Financial has recognized Pentucket Bank as a "Best of Bauer" bank, maintaining a 5 Star Rating for over 25 consecutive years! We maintain an extra strong capital position to ensure the long-term stability of both our Bank and our mission.
Additionally, when you bank with Pentucket Bank you can be confident that all of your deposits are insured in full, even beyond the $250,000 limit insured by the FDIC. With the Depositors Insurance Fund (DIF), your deposits are insured in full. Click here for more information on DIF.
Click here for the locations and hours of our six full-service branches, located in both Massachusetts and New Hampshire.