Commercial Loan Operations Manager

Overview

Who We Are:

For over a century, HarborOne's mission has not wavered, total commitment to our customers, our communities, and our colleagues. Founded in 1917 to serve the growing financial needs of our local communities, HarborOne continues to honor and embrace its commitment to strengthen and empower the communities where our customers and employees live and work.

Today, HarborOne has 30 branches in southeastern Massachusetts and Rhode Island and 2 commercial lending offices in Boston and Providence. Our corporate values of accountability, integrity, respect, trust and teamwork are core to how we manage our business and our relationships with our customers. Working at HarborOne will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference.

Job Description:

The Commercial Loan Operations Manager directs all servicing aspects of commercial loan transactions that occur on the core system. Responsible for the accurate and efficient operation of the Commercial Servicing department's activities as relates to financials, SOX compliance of new loans and core maintenance.

Responsibilities

Responsibilities:

• Responsible for the management of CML Servicing employees and department day to day activities.

• Responsible for department tracking and reporting of department responsibilities.

• Responsible for tracking and creating department efficiencies. This includes collaboration with all business partners internal and external.

• Responsible for commercial products on the core system and vendor management.

• Management of individual and teams. Focus on development and performance including but not limited to hiring and promotion, performance appraisal, development, career planning, succession planning, coaching and mentoring, rewards and recognition and retention. Leverage the diversity, talents, and ideas of the people in the organization to deliver the highest output. Implement programs that support the staff and foster teamwork.

• Maintain and implement commercial servicing policies and procedures.

• Responsible for the data integrity of all commercial loans on the core system and updates to the core system.

• Maintain a thorough working knowledge SBA rules and regulations as they pertain to the maintenance of the bank's PLP status.

• Accurately assist department in processing new commercial loans, modifications and renewal requests. Work directly with Lenders to ensure all required documents is obtained for each loan request. This includes executing checks and approving wires on behalf of the bank.

• Review executed loan documentation as dictated by loan policy and complete proper post-closing functions to include regulatory compliance and tickler tracking.

• Perform Quality Control Assurance on loan and transaction booking. Review all commercial new loans, modifications, renewals and deferrals to verify closing requirements have been met per credit approval and closing documents. Verifies all required documents are present and have been completed accurately. This requires the review of moderate to complex documentation to reflect the accuracy of the data and conformity to established procedures and policies.

• Ensure various segregation of duty controls, data and process and integrity are maintained for the team.

• Assist in continued development of Quality Control Plan that detail the departmental framework as growing commercial organization's needs.

• Perform and document monthly Operational Risk testing to ensure servicing processes are completed timely, accurately and in accordance with the Bank's lending policy and procedures and compliance with state and federal regulation.

• Review processes to find efficiencies, create streamline processes that are documented and have corresponding checklist. Maintaining library of procedures for Commercial Servicing Department.

• Responsible for meeting service level expectations according to quality control turnaround times.

• Preparing of bank confirms as requested from participation bank's auditors and customers CPAs through various channels.

• Monitor daily maintenance report for accuracy of loan maintenance in compliance with SOX testing.

• Tracking and reporting of quality control issues to management.

• Manage operational risk controls and ensure proper evidence is stored for audit.

• Provide Audit support and signoff of GL Accounts, Participation DDA accounts and vendor payments.

• Create and Analyze all required monthly reporting to verify accuracy, compliance, SLA (service level agreements) and KPIs (key performance indicators).

• Overview knowledge of commercial servicing systems including but not limited to Core System, document production system, insurance and tax tracking systems. System Administrator for core interfaces including Numerated and LaserPro.

• Manage commercial servicing projects. Report to management and confirm timelines are adhered too.

• Gathering Audit materials as they pertain to commercial servicing.

• Research financial request in accordance with commercial loan servicing. Including but not limited to Interest Accruals, fees, product coding and SWAPS

• Responsive to all incoming customer inquiries and problem resolution, both internal and external, and respond or generate email correspondence.

• Cover for CML Servicing department managers which will include releasing collateral for the bank and knowledge of entire commercial servicing processes.

• Maintain a complete knowledge of Equal Credit Opportunity Act, Real Estate Settlement Procedures Act, Regulation Z, Truth in Lending, and all other applicable state and/or federal laws.

• Receive direction from the VP Director Loan Servicing and perform other duties and projects as assigned.

• Maintain a thorough knowledge of all commercial mortgage and commercial loan products and services.

Qualifications

Required Skills:

• Bachelor's degree from a four-year College or university preferred.

• 6-8 years recent Commercial Loan Servicing department experience within a Financial Institution.

• At least two years management experience, managing workflow and a team.

• The ability to effectively lead a team and manage a growing loan-servicing portfolio; proven ability to effectively partner with the originators, credit administration and other business partners.

• Proven proficiency in commercial servicing operations systems and CORE systems, experience with Insight / COCC is a plus.

• Ability to read, analyse, and interpret technical journals, financial reports, and legal documents. Ability to respond to common inquiries or complaints from customers, regulatory agencies, or members of the business community.

• Ability to effectively present information to top management, public groups, and/or boards of directors.

• Maintain an excellent understanding of applicable regulations and laws including but not limited to; Bank Secrecy Act; Privacy; and Fair Lending.

• Maintain an up to date understanding of bank policies and procedures as they relate to compliance. Complete appropriate compliance training and ensure staff complete all relevant compliance training and have an understanding of procedures related to their position.

• Manages employees in multiple locations. Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws. Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance; rewarding and disciplining employees; addressing complaints and resolving problems.

• Ability to work with mathematical concepts such as probability and statistical inference. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.

• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

Compensation:

Offers will be determined based on job-related knowledge, skills, experience, and location.

Benefits:

Our benefit package* may include:

• Paid vacation and sick time

• Medical and dental insurance

• Pre-tax premium program

• Health Reimbursement Account/Health Savings Account

• Employee Stock Ownership Plan (ESOP)

• 401K plan

• Life Insurance

• Tuition reimbursement and tuition assistance programs

• Short term and Long term disability insurance