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Commercial Loan Assistant - II at Salem Five Cent Savings Bank in Salem, Massachusetts

Posted in General Business 30+ days ago.

Type: Full-Time

Job Description:


Salem Five is a growing regional financial services organization with a rich history of over 160 years.  As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This position requires the ability to work in the Salem, MA offices.

Commercial Loan Assistants are an integral part of our Commercial Lending team and will work hand-in-hand with their peers and Loan Officers on all manner of loan matters, customer concerns, and needs for the Bank.  With minimal Supervisor/Manager support, the role requires an individual to exercise discretion and independent decision making related to loan documentation and relationship management.

Essential Duties and Responsibilities include the following however other duties may be assigned as necessary:

  • Acts as primary service contact for assigned portfolio’s commercial lending and deposit needs, as well as basic cash management servicing for some of the Bank’s largest, most complex and most profitable clients.

  • Supports lenders with largest and most sophisticated client bases

  • Provides superior client service as related to business loan and deposit services, taking ownership of client needs, problems, and requests, following through to ensure timely and accurate resolution. Performs account maintenance and research as needed.

  • Monitors daily NSF funds reports, obtains necessary approvals and communicates to customers as appropriate

  • Works with customers and lenders to obtain appropriate documentation to open and maintain required deposit account relationships, to include (but not limited to) applicable information related to  CIP, corporate structure, resolutions, signers, beneficial interests, etc.

  • Identifies, monitors and tracks missing documentation. Follows up with appropriate individuals to ensure documents are received as required.

  • Performs preliminary loan closing requirements such as flood certifications, credit reports, residential appraisals, environmental reports, UCC searches or other reports as needed.  Works with attorneys, insurance companies or other agencies as appropriate.

  • Supports the commercial loan officers in the loan documentation process, ensuring that necessary documents have been collected throughout the pre-closing process.

  • Prepares all loan set up forms in coordination with the Loan Operations staff. 

  • Ensures the effective coordination of the commercial loan closing process with Loan Operations, verifying accuracy of notes with facility report and commitment letter.

  • Performs initial review of signed loan documents and any necessary additional information required by Loan Services for boarding and submit completed package for final review and boarding.

  • In the absence of an attorney, prepares all relevant loan documentation necessary to close a new commercial loan or modification/ amendment.

  • Acts as the primary contact person between the lender and loan services and is relied upon to answer any questions which may arise concerning loan documentation, collateral and payment structure.

  • Creates, maintains and updates loan documentation.  Responsible to create and maintain accurate loan files that can be relied upon to provide evidence to any audit, legal or regulatory request.

  • Verifies that all third-party invoices have been obtained and that fees and charges are correct.

  •  Coordinates all loan advances/disbursements; ensures all required documentation has been received and all transactions coordinated effectively with the Loan Operations staff.

  • Demonstrates, develops, and shares knowledge and understanding of business deposit products and other applicable banking services to provide accurate information to prospects and customers and better identify and respond to opportunities to cross sell.

  • Mentors more junior members of the team and acts as training resource when required

  • May be called on to meet with clients in person or at community/business development events.

  • Prepares and organizes required reports, correspondence, memos and other necessary documentation within the timeframe required. Projects and maintains a professional image in the market place.

Who We Are: Join an organization that prioritizes innovation, customer service and supporting the communities we serve. Love the people you work with while participating in and helping to shape our collaborative environment. When you join Salem Five, you become part of a growing, regional financial services company. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.

Why Salem Five: We’ve been around since 1855 – which means we will be around a lot longer – but we also know what it takes to be competitive in this day and age.  We pride ourselves in being one of the first banks on the internet and continually try and push ourselves to offer the latest in online and mobile banking to serve our customers in whichever channel they prefer. Whether it be a virtual assistant via our website, obtaining cash at ATMs without a card present, or going through the mortgage process via our digital app, we want to offer the digital experiences that customers want. Continued company growth offers opportunities for individual growth.

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.

Qualifications to be a Commercial Loan Assistant II

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or Experience              

Minimum of high school diploma or GED, with Associates or Bachelor’s degree preferred.   Demonstrated capability and familiarity with Microsoft is required.  Minimum of five years banking experience preferred.  Prior customer service experience and/or work in a legal setting is a strong plus.

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.  While performing the duties of this job, the employee is frequently required to stand; walk and sit. Specific vision abilities required by this job include close vision.

Benefits/Incentives:  Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more

Salary Range:            Competitive Base 

Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you.

Qualified candidates may also submit a resume and application online at or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)

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