Participation Operations Specialist

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Description/Job Summary

The Participation Operations Specialist maintains loan accounting for purchased participation and sold loan accounts, prepares loan closing and servicing documents, coordinates loan processes and loan servicings, reviews loan documents post-closing and takes actions to correct errors.  The Participation Operations Specialist will have a direct and ongoing relationship with Association customers, participation partners as well as all other staff working in Commercial Lending for the Association.

Responsibilities/Duties

Customer Account Maintenance and Reconciliation
  • Adjusts payment schedules as needed to ensure amortization within approved period
  • Posts receipts and disbursements daily making sure investor portion is the correct pro rata percentage
  • Process weekly Libor rate changes each Monday and all other rate changes as required
  • Reconciles previous days monetary activity to the Daily Settlement Report and follows up on any discrepancies
  • Reconciles sold loan balances to CoBank’s Monthly Balances report each month and makes correcting entries as needed to resolve discrepancies
  • Makes corrections identified through Loan Verification that apply to the ACBS system
  • Converts loans from the COAL/REAL systems to ACBS (all entries are manual including financial statements and collateral, PD, LGD, dates, amounts, interest rates, ST, LT, involvement in farming, FCA loan type, etc.)
  • Book new loans and loan servicings (manual process, same as converting loans as stated above, update all information in ACBS per the CDA and closing documents)
Loan Closing
  • Prepares loan closing documents
  • Ensures all necessary documents are prepared for closing and verifies they are prepared according to Association procedures and if not that an exception/waiver is obtained
  • May request that Association attorneys prepare legal documents and provides documents for legal review
  • May prepare Credit Life Insurance quote by entering customer and loan information online
  • May attend loan closing as an agent of the Association
Document Review
  • Verifies compliance with Association policies and procedures by reviewing loan documentation
  • Takes corrective action to correct any errors in loan documents
  • Assembles, organizes and files documents in compliance with documented procedures
  • Compiles information in response to audit requests
  • Ensures accuracy of documents, including dates, amounts, rates and security descriptions
  • Confirms documents are signed by the proper individuals or authorized agents
  • Confirms perfection of lien through executed security instruments
  • Prepares amendments, including fixed rate, conversions and forbearance actions
Commercial Lending Support
  • Assist loan officers and credit analyst staff in monitoring reports.
  • Assist loan officers and credit analyst staff in obtaining required information from direct loan customers.
  • Assist loan officers and credit analyst staff in maintaining the CRM database.
  • Assist loan officers and credit analyst staff in other initiatives – including marketing correspondence and follow-up.
Correspondence
  • Sends post-closing loan documents to customers
  • Drafting of correspondence for loan officer review and signature
  • Corresponds with association attorneys regarding recorded mortgage documents and title insurance
  • Corresponds with outside council regarding requests for discharge and other matters
  • Corresponds with CoBank and all other participation partners verify the accuracy of accounts
Branch Administrative Support
  • Other administrative duties as necessary to support branch operations
Data Security and Confidentiality
  • Protects the confidentiality, security, and integrity of the Association’s systems and data and clients’ data

Required Qualifications

Education                     Bachelor’s degree in business, economics, accounting or a related field.
Prior Experience          3 years of legal, real estate or banking loan document experience or an equivalent combination of education and experience to perform the essential functions of the job
 
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We are an Equal Employment/Affirmative Action employer. We do not discriminate in hiring on the basis of sex, gender identity, sexual orientation, race, color, religious creed, national origin, physical or mental disability, protected Veteran status, or any other characteristic protected by federal, state, or local law.

If you need a reasonable accommodation for any part of the employment process, please contact us by email at ruchel@yankeeaca.com and let us know the nature of your request and your contact information. Requests for accommodation will be considered on a case-by-case basis. Please note that only inquiries concerning a request for reasonable accommodation will be responded to from this e-mail address.

For more information, view the EEO is the Law Poster and Pay Transparency Statement.