Company Summary:
LINKBANK is a community-focused financial institution committed to positively impacting lives through personalized banking services and strong values-driven relationships. By prioritizing our values of live, integrity, nurture, and knowledge, LINKBANK aims to foster growth and trust within the communities it serves.
Loan Operations Department Summary:
The Loan Operations Department of a bank manages the lifecycle of loan transactions, including processing applications, disbursing funds, and handling repayments. It ensures compliance with regulatory requirements and internal policies while maintaining accurate records and documentation. This department also oversees loan servicing, addressing customer inquiries, and managing issues related to loan accounts.
General Responsibilities:
- Active Participation: Attend and contribute to loan team meetings and daily tasks consistently throughout the internship.
- Professional Presence: Maintain a professional demeanor and appearance and engage effectively with team members and supervisors in the office environment.
- Timely Communication: Provide regular updates on assigned projects, seek feedback proactively, and address any challenges or questions promptly to ensure smooth progress.
- Computer Skills: Strong computer knowledge and Windows skill.
Essential Functions/Duties:
- Promote Corporate Values: Exemplify LINK’s values of Live, Integrity, Nurture, and Knowledge in all activities.
- Upload and Verification: Uploads loan account information to the core processing system and ensures the accuracy of loan bookings.
- Process Requests and Payments: Handles various work orders, requests, and payments, including loan payments, payoffs, and modifications, within set service level agreements (SLAs).
- Document Management: Scans and indexes new loan documents and other client-requested documents into the client’s file promptly and accurately.
- Post-Closing Review: Reviews loan documents for compliance and accuracy, coordinates within and outside the department, reports to the supervisor, and addresses information requests.
- Collateral Inquiry Research: Investigates inquiries related to collateral from clients or internal departments.
- Daily Reconciliation: Reconciles general ledger and clearing accounts daily.
- Transaction Posting: Posts transactions to loan accounts on the same day they are received or adjusts the posting date if there are delays.
- System Proficiency: Gains and maintains expertise in loan-related software systems such as SilverLake, Loan Vantage, and the Jack Henry platform.
Requirements:
- Availability: Required to be present in person five days a week from mid-May to early August.
- Academic Status: Must be a current student at an accredited college or university, preferably at the Junior or Senior level.
- Intern Activities: Will engage in various activities with fellow interns, including a volunteer day, lunch-and-learns, field trip to Camp Hill Solution Center, and a final project.
Preferred College Courses:
- Business Administration: Offers a broad understanding of business operations, management principles, and organizational behavior, useful for navigating the broader business context of loan operations.
- Banking and Financial Services: Focuses specifically on banking operations, including loan processes, credit analysis, and financial regulations, tailored to the banking industry.
- Economics: Helps in understanding economic factors that impact lending, such as interest rates, inflation, and market trends.
- Risk Management: Teaches how to assess and manage financial risks, important for evaluating loan risk and ensuring compliance with regulatory requirements.
- Legal Studies/Business Law: Provides knowledge of legal issues related to lending, including contracts, regulatory compliance, and financial legislation.
- Information Systems/Technology: Covers the use of technology in banking, including loan management systems, data security, and IT infrastructure, relevant for working with loan processing software.
- Statistics: Useful for analyzing loan data, assessing trends, and making data-driven decisions.
