CML Sr. Loan Operations Analyst - HarborOne Bank

Job Description:

Under the supervision of the CML Loan Operations Manager, reviews and books all commercial loans originated by the Commercial Lending Division in accordance with corporate policy and state and federal regulations.  This position is required to perform all the duties required to service all aspects of the commercial loan portfolio.

Who We Are:

For over a century, HarborOne has remained steadfast in its mission: total commitment to our customers, our communities, and our colleagues. Founded in 1917 to meet the evolving financial needs of local communities, we continue to honor that legacy by empowering and strengthening the neighborhoods where our customers and employees live and work.

With 30 branches across southeastern Massachusetts and Rhode Island, along with two commercial lending offices in Boston and Providence, HarborOne is dedicated to providing exceptional banking services and building lasting relationships. Our corporate values—accountability, integrity, respect, trust, and teamwork—are at the heart of everything we do. They guide how we manage our business and ensure we consistently deliver value to our customers.

At HarborOne, we believe in the power of opportunity. We offer our employees a fulfilling career with endless potential to learn, grow, and make a meaningful impact. More than just a workplace, we are a community dedicated to making a positive difference in the lives of those we serve.

Responsibilities:

• Perform the new loan booking function to the core system in accordance with the loan approval and loan documentation along with the corresponding monetary transactions including, but not limited to, wires and checks. Setup also includes the accurate set up of loan fees, participating banks, loan masterlines, and SBA loans. Once the loan has been established, further modification or re-structuring of the deal will be required on the core system.
• Review all loans for approval by appropriate authority level prior to loan funding. (i.e., VP Small Business, Commercial Loan Officer, SVP Commercial Lending, Credit Committee, CEO, Board Approval).
• Communicate with middle office, lenders, and attorneys to assist in the booking process. Input and monitor all trailing documents and report exceptions appropriately. Follow-up with lenders and attorneys to ensure servicing exceptions are resolved in a timely manner.
• Perform Quality Control review of all commercial new loans, modifications, renewals, and deferrals to verify closing requirements have been met per credit approval and closing documents according to Quality Control turnaround times. Verify 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.
• Assist in continued development of the Quality Control Plan that details the departmental framework as growing commercial organization’s needs including tracking and reporting of quality control issues to management.
• Process payments, advances, loan document requests, loan payoff requests, and rate updates as required.
• Review unapplied loan funds and payment exceptions reports.
• Research and resolve complex documentation, payment, and/or other loan account issues as they arise.
• Monitor activity on all participation loans. Analyze all required daily reporting to verify and manage participation remittances. Validate the principal and interest due and update remittance reports. Verify and calculate accruals related to interest due to the Bank on any participation in loans. Lead contact with participation banks for financial transactions and reporting.
• Analyze and monitor loan critical and loan maintenance reports to verify all changes are accurate, logical, and within the employee’s realm of authority to mitigate risk and fraud in compliance with SOX testing.
• Review and prepare the commercial suspense and other applicable general ledger account reconciliations daily and monthly.
• Ensure high levels of data integrity and compliance as it relates to critical customers, loan terms, and conditions. Track all compliance issues to Credit Operations, Credit Risk, and the Compliance Office.
• Act as a liaison between internal and external customers, the Commercial Servicing Department, and any other internal departments through highly professional communication.
• Create and develop methods for processing, tracking and reporting all new products. Responsible for researching and understanding all new concepts that arise with new product offerings.
• Maintain a thorough knowledge of all commercial mortgage and commercial loan products and services including all related regulations and financial accounting practices.
• Maintain a strong familiarity with all investor SBA Lending procedures to adequately maintain the guarantees required on all SBA insured loans.
• 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 along with state and federal regulations.
• Review processes to find efficiencies, create streamline processes that are documented and have corresponding checklist. 
• Create, review, and edit procedures for the Commercial Servicing Department as needed.
• Prepare bank confirms as requested from participation bank’s auditors and customer’s CPAs through various channels.
• Maintain the Commercial Servicing loan document vault and credit files; scan files and documents as needed.
• Enter, maintain, and track tax information in the third-party vendor system. Work weekly exception reports to verify the accuracy of the data.  Inform Lender/Management of any issues. 
• Support internal and external auditing process – Assist in gathering requested audit materials and participate in audit interviews as they pertain to Commercial Servicing.

Required Qualifications:

• Bachelor’s degree in business, finance, or accounting is preferred. 
• 5-6 years’ experience in commercial loan servicing and completion of accounting reconcilements is required. 
• Proven proficiency in commercial servicing operations systems and CORE systems, experience with Insight / COCC is a plus.
• 3 years’ experience processing loan monetary transactions and data maintenance on Insight (or comparable loan servicing platform) is required. Ability to read and comprehend instructions/direction in the Small Business Administration Guides and the HarborOne Commercial Loan Policy is essential. 
• Strong written and verbal communication skills with the ability to effectively prepare correspondence and memos to internal and external business partners and customers. 
• Ability to effectively verbally present information in one-on-one and small group settings with customers, clients and other employees within the organization.
• Intermediate level of expertise with Microsoft Excel is required to include solid data management skills and chart preparation. 
• Intermediate understanding of Microsoft Word.  
• 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.
• Excellent organization skills.
• Ability to prioritize work and manage time efficiently to meet deadlines.
• Demonstrated attention to detail skills.
• Ability to monitor own work to ensure quality, accuracy and thoroughness.
• Assist junior members prioritization, training and organization skills. 
• Strong interpersonal communication and relational skills with the ability to effectively lead and work with individuals and groups at all organization levels; ability to work independently and as part of a team. 
• Strong ability to add, subtract, multiply, and divide in all units of measure using whole numbers, common fractions and decimals. 
• Strong ability to compute interest rates, ratios and percentages.
• Ability to interpret and apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. 
• Ability to use judgement and analytical skills with complex problems involving several concrete variables and abstract variables.

Compensation:

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

Benefits:

At HarborOne, we value our employees and are committed to supporting their well-being both inside and outside of work. Our comprehensive benefits package is designed to help you thrive personally and professionally. Depending on your role, you may be eligible for:

• Paid vacation and sick time to support work-life balance
• Medical, Dental, and Vision insurance for you and your family
• Health Reimbursement Account (HRA) and Health Savings Account (HSA) options
• Healthcare Flexible Spending plans to cover medical expenses
• 401(k) plan with company contributions to help you save for the future
• Employee Stock Ownership Plan (ESOP) to invest in the company’s success
• Dependent Care Flexible Spending with a company contribution to support you and your family’s needs
• Company-paid Basic Life and Disability Insurance for added peace of mind
• Tuition reimbursement and tuition assistance programs to support your educational and career growth

Join HarborOne and take advantage of a benefits package that helps you achieve your personal and professional goals while making a difference in the communities we serve.

We are an equal opportunity employer. Applicants and employees are considered for positions and are evaluated without regard to mental or physical disability, race, color, religion, gender, national origin, age, genetic information, military or veteran status, sexual orientation, marital status or any other protected Federal, State or Local status unrelated to the performance of the work involved.