Job Description

Silvergate has served entrepreneurs in unique and niche industries for over 20 years.  We leverage our technology platform and expertise to develop solutions for fintech and digital currency companies and investors around the world.  Recognizing digital currency’s potential during the sector’s infancy, we have embraced pioneers and built flourishing relationships with those who were underserved by traditional banks.  Silvergate is a California chartered, Federal Reserve member bank, the leading provider of innovative financial infrastructure solutions and services for the growing digital currency industry, and a lender to growth-oriented businesses, entrepreneurs, and investors.  Embracing change and recognizing opportunity are part of the Silvergate DNA.

The Loan Administrator is responsible for the timely processing of the loan closing and loan servicing for SEN Leverage (Bitcoin collateralized) loans using established procedures and guidelines. The Loan Administrator is also responsible for the general ledger/accounting functions associated with the origination and servicing of the loans and will help in the preparation and distribution of department and portfolio reporting. 

ESSENTIAL DUTIES AND RESPONSIBILITIES

GENERAL

• Utilizing various software and internet applications, input credit applicant information to obtain business and consumer credit reports, OFAC searches, lien searches, and entity status

• Assemble loan application packages for transmittal to applicants. Creates loan files including checklists, status logs and contact list

• Ensure all processing timelines are met and maintain active communication with lending personnel regarding application status.  Work with lending personnel and applicants/customers to gather required information.

• Obtain applicant documentation and due diligence for review and reporting

• Ensure proper collection of all closing/modification fees

• Ensure all pre-closing conditions have been met

• Coordinate loan closing with lenders and customers. Ensure all loan closings and bookings are completed timely and adhere to all the closing conditions

• Prepare loan boarding package including closing checklist, boarding worksheet, wire transfer, and other forms necessary for closing and boarding

• Board and process all new loans and modifications accurately and timely

• Create and maintain credit files and post-closing financial monitoring files.  Ensure all post-closing searches and required documentation is complete

• Follow up on post-closing open items

• Process 3rd party invoices and submits these for approval and payment

• Prepare and have executed all documents related to the collateral servicing with our third party vendors

• Apply all loan fees and loan costs appropriately

• Process loan advances and payments for loans serviced by Silvergate

• Prepare manual and system generated billing statements and provide to the Customers

• Process all necessary transactions/updates on the loan with the appropriate backup and approvals

• Process required general ledger entries necessary for the loans

• Ensure loan information is accurate on banks Core system and any other system utilized for SEN Leverage

• Prepare and provide accurate payoff statement to inquiring parties.  Processing loan payoff and close out of loan

• Research and respond to both internal and external customer inquiries

• Facilitate preparation of daily and month-end reconciliation for loans

• Coordinate, obtain and organize requested loan information needed for ongoing internal audits as well as external audits performed by Silvergate’s Regulators and Federal Home Loan Bank

• Maintain knowledge of the systems utilized -including but no limited to FIS Horizon/Image Centre/ Proglogue/ Abrigo

• Assists with department reporting requirements and adverse action notices.

• Interact with all levels of management and staff

• Develop professional working relationships with the Loan Officers and Portfolio Management (internal business partners)

• Assist management with development and maintenance of the desktop procedures manual

• Interact with third party vendors

• Attend internal and external seminars relating to loan processing, loan servicing or regulatory requirements.

• Must adhere to the company’s core values of Challenge Convention, Do What’s Right, Take Ownership, Empower People, Exceed Expectations, and Cultivate Awesome all while keeping our “Why?” front of mind. Our Why? Silvergate is the banking platform for innovators, and we believe in the power of entrepreneurs to create prosperity for our communities.

• Not to harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice.

• Maintain current knowledge of all federal and state laws and regulations, along with the Bank’s policies and procedures.

• Ability to recommend solutions when faced with an obstacle

• Manage, coordinate and prioritize multiple tasks at any given time

KNOWLEDGE, SKILLS AND ABILITIES

• Minimum 5 years of experience in Commercial loan processing and servicing
• A four-year college degree a plus
• Thorough knowledge of business and commercial loan processing and servicing - Commercial Real Estate specific is a plus
• Must be able to work independently and in a remote environment without distractions
• Must be detail oriented, able to work on multiple tasks concurrently, and have the ability to prioritize tasks consistently throughout each day
• Directly communicate professionally with the Customers
• Effective written and verbal communication skills
• Proficiency in Microsoft Excel; Microsoft Word; Microsoft Outlook; and the Internet. 
• Thorough knowledge of required financial data for loan processing/servicing and decisioning
• Excellent verbal and written communication skills are a must
• Must have High School diploma or equivalent
• Interest in learning new products outside of traditional commercial products

BANK SECRECY ACT REQUIREMENTS

Responsible for adhering to the reporting and recordkeeping requirements of the Bank Secrecy Act and Anti-Money Laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the Office of Foreign Asset Control (OFAC), following the Company’s customer identification program (CIP) rules, observing all Company policies and procedures relating to BSA, OFAC, CIP, and related acts, and participation in ongoing related training.

WORK CONDITIONS Standard office environment with a moderate noise level or working remotely.

PHYSICAL DEMANDS While performing the duties of this job, the employee is:

• Regularly required to talk or hear
• Required to communicate with customer and coworkers verbally and in writing
• Occasionally required to stand; walk
• Required to sit for long periods and reach with hands and arms
• Occasionally required to lift up to 25 pounds
• Able to read documents, computer screens, reports, other communications and have the ability to adjust focus and close vision

Management reserves the right to add to, change and revise this description at any time.  This description does not include any marginal functions that are incidental to the essential functions.  Also, it does not imply that these are the only tasks to be performed by the incumbent.  Employees are required to follow any other job-related instructions and to perform any other job-related tasks requested by their supervisor.  Any requirement may be modified to reasonably accommodate individuals with disabilities.

Silvergate is an EEO/AA/Disability/Vet

Powered by JazzHR

ELXQOtADET