Lending Specialist
| Position: Lending Specialist |
Supervisor: Director of Lending |
| FLSA Status: Full Time, Exempt | Location: Combination of remote and office based *Must be in Twin Cities area* |
| Department: Lending | Salary: $55-63k |
WomenVenture is a 501(c)(3) nonprofit organization with a mission to empower women to achieve their economic goals by building profitable and sustainable businesses that transform communities. We execute this mission through a four-pillar programming approach that includes training, loans, coaching, and a community of support. Our organizational values are inclusion, impact, and innovation, and we seek out candidates who exemplify these characteristics.
Position Summary:
The Lending Specialist’s role is vital in supporting WomenVenture's mission and vision by facilitating various stages of the loan cycle, from pre-application inquiries to post-loan documentation and general loan team and portfolio support. With meticulous attention to detail and excellent communication and record-keeping skills, the Lending Specialist ensures smooth loan processing, pipeline management, and client satisfaction.
Core Duties:
Loan Inquiry / Pre-Application:
- Serve as the first point of contact for prospective clients and applicants who inquire about the loan program-- via the Lending Email Inbox, general phone line, as a referral from internal program partners, external agencies interested in collaboration, partnership, and potential participation on various transactions.
- Follow up with potential applicants, including providing general information about the loan program, instructing existing applicants seeking guidance/assistance in completion, submitting the application, and collecting required personal and business-related information and documentation needed by Loan Officers.
- Provide support in tracking items received and outstanding for each applicant; follow up as needed/requested by Loan Officers and Director of Lending.
- Record, maintain, and manage the pipeline tracker for all applicants from the initial client inquiry through loan closing and post-funding migration to loan servicing.
Underwriting / Post-Approval:
- Pull due diligence reports.
- Continue assistance to Loan Officers gathering other information as needed.
- Upon loan approval, manage the loan closing process and serve as the primary point of contact following handoff by the Loan Officer with confirmation of contingent loan approval.
- Manage delivery and receipt of Signed Contingent Loan Approval Notification.
Loan Closing
- Work with clients and consult with the Loan Officer / Director of Lending to satisfy all final prior-to-closing requirements.
- Monitor and confirm updates as required to the Loan Process Checklist.
- Prepare loan documents and submit them for audit.
- Manage the signing process with the client. Includes:
- Delivery of closing documents.
- Coordinate / schedule closings.
- Send documents for e-signature, follow up as needed.
- Arrange and facilitate physical signings when ink signature is required.
- Manage loan disbursement process.
- Prepare and submit the perfection of collateral to appropriate authorities. Includes vehicle liens, UCC filings, mortgages, etc.
Post-close and General Loan Team support
- Post-closing check-in: collaborate with internal partners to collect and file any post-closing documents, including Proof of Use of Funds.
- Provide general assistance to the loan function as assigned by the Director of Lending / CFO / Loan Portfolio Manager.
- Provide support to Loan Officers in the processing of loan modification requests and approvals.
- Collections – loan servicing support to loan portfolio manager on past due loans.
- Provide additional support in processing Revolving Line of Credit customer draw requests.
- Annual data collection support.
- Monthly UCC continuation reporting.
- Process and perfect collateral releases.
- Willingness to provide physical presence and representation of the organization at various internal and external meetings, community, and stakeholder events.
- Aptitude for public speaking
Record-keeping
- Organize and maintain physical and electronic loan files.
- Complete loan set-up accurately in our database and L.O.S.
- Gather all data elements for loans from client data forms, loan closing, underwriting documents and, searches etc.
- Ensure accurate data entry into the data management system.
- Check work and resolve open issues.
Support CFO, DOL, and other Internal Partners
Other duties, tasks, and responsibilities that may be assigned at any time.
Required Skills & Experience:
- Excellent customer service.
- Capable of maintaining strict confidentiality.
- Attention to detail, ability to follow complex tasks through to completion.
- Strong written and verbal communication skills, including the ability to write, generate and update reports, as well as manage tracking with the use of various tools as applicable across platforms.
- Ability to make reasonable, supported decisions and employ problem-solving skills that can be reasonably validated when necessary.
- Proficiency in utilizing database programs, Excel spreadsheets and other standard Microsoft Office software. Ability to learn new software/ systems & stay up to date on computer skills.
- Strong organization, prioritization, and time management skills.
- Ability to work cooperatively with internal and external partners, complex systems, and workflows.
- Excellent cultural competencies and ability to collaborate across diverse perspectives, ideas, and people with diverse backgrounds.
- High level of commitment to issues of gender equality and the social mission of the agency.
- Flexible and adaptable team player
Preferred Education & Experience:
- 1 or more years of loan administration, pipeline, or case management experience preferably in a financial institution.
- Associate degree or relevant experience.
- Active MN Notary Commission in Good Standing a plus.
Application Procedure
Interested candidates should submit the online application using this link: https://recruiting.myapps.paychex.com/appone/MainInfoReq.asp?R_ID=6217615
Benefits
WomenVenture takes great pride in providing exceptional benefits to our staff. Employees are eligible for 18 paid holidays and 18 PTO days starting their first year. WomenVenture offers medical, dental, vision, short-term disability, long-term disability, and life insurance. WomenVenture offers paid paternity leave, a health savings account, a flexible spending account, pre-tax transportation, and an employee assistance program. Employees can also participate in a retirement plan with an employer match.
Work Environment/Physical Demands
While performing the duties of this position, the employee is frequently required to sit for extended periods and may be required to stand for an extended period. The employee may occasionally move items weighing up to 25 pounds. Reasonable accommodation will be made to enable individuals with disabilities to perform the essential functions of the position.
This position description is intended to describe the general nature and level of work being performed by people assigned to this position. It is not intended to be an entire list of all activities, tasks, and skills required of people in the position.
WomenVenture is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability status, protected veteran status, or any other characteristic protected by law.
