What is the average Banking Commercial Loan Processing Clerk salary for New Britain, CT?
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As of April 24, 2024, the average Banking Commercial Loan Processing Clerk salary in New Britain, CT is $126,852. The chart below represents localized salaries for some of our most popular Banking Commercial Loan Processing Clerk job titles in New Britain, CT. Salaries can vary greatly depending on numerous factors, including position, location, years of experience, and level of education. Salary.com’s team of Certified Compensation Professionals analyzed survey data collected from thousands of HR departments at companies of all sizes and industries to compile a range of salaries for various Banking Commercial Loan Processing Clerk job titles in New Britain, CT. Apply your personal criteria to one of the job titles below to get your personalized salary estimate.
Banking Commercial Loan Processing Clerk Salaries in New Britain, CT
| Job Title | Salary | Hourly Rate | Location | Date Updated |
| Commercial Loan Clerk | $48,854 | $23.49 | New Britain, CT | April 24, 2024 |
| Commercial Loan Clerk, Sr. | $57,997 | $27.88 | New Britain, CT | April 24, 2024 |
| Commercial Loan Processor | $55,989 | $26.92 | New Britain, CT | April 24, 2024 |
| Banking & Commercial Loan Workout Manager | $186,932 | $89.87 | New Britain, CT | April 24, 2024 |
| Loan Processing Assistant Manager | $84,231 | $40.50 | New Britain, CT | April 24, 2024 |
| Loan Processing Supervisor | $69,017 | $33.18 | New Britain, CT | April 24, 2024 |
| Loan Processing Manager | $108,892 | $52.35 | New Britain, CT | April 24, 2024 |
| Mortgage Payment Processing Clerk | $43,789 | $21.05 | New Britain, CT | April 24, 2024 |
| Commercial Loan Review Manager | $147,739 | $71.03 | New Britain, CT | April 24, 2024 |
| Commercial Loan Officer V | $179,635 | $86.36 | New Britain, CT | April 24, 2024 |
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Processes loan payments and applies funds to customer accounts. Calculates and processes payoffs, and releases titles and insurance interest. Calculates and prepares refunds for customers that submit overpayments. Responds to customer inquiries and requests for net payoff quotes. May require an associate degree or equivalent. Typically reports to a supervisor or manager. Works under moderate supervision. Gaining or has attained full proficiency in a specific area of discipline. Typically requires 1-3 years of related experience. Commercial Loan Clerk Salaries in New Britain, CT
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Processes loan payments and applies funds to customer accounts. Calculates and processes payoffs, and releases titles and insurance interest. Calculates and prepares refunds for customers that submit overpayments. Responds to customer inquiries and requests for net payoff quotes. May require an associate degree or equivalent. Typically reports to a supervisor or manager. Works independently within established procedures associated with the specific job function. Has gained proficiency in multiple competencies relevant to the job. Typically requires 3-5 years of related experience. Commercial Loan Clerk, Sr. Salaries in New Britain, CTAlternate Job Titles:Senior Commercial Loan Processor, Commercial Loan Clerk, Sr.
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Performs administrative tasks for commercial loan processing. Coordinates with lenders, customers, and external vendors to collect and prepare all required documentation for closings. Ensures that loan packages are complete, and documentation correctly prepared within required timelines. Inputs and maintains all required transaction and processing records according to procedures. Responds to inquiries. Prepares required regulatory reporting. May require an associate degree. Typically reports to a supervisor. Works under moderate supervision. Gaining or has attained full proficiency in a specific area of discipline. Typically requires 1-3 years of related experience. Commercial Loan Processor Salaries in New Britain, CTAlternate Job Titles:Business Loan Processing Senior Clerk, Senior Commercial Loan Processing Clerk, Commercial Loan Processor
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Manages a staff of professionals in restructuring problem business banking and commercial loans. Develops strategies to assist lenders and borrowers in establishing collateral, equity, or other assets. May require a bachelor's degree. Typically reports to a director. Manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. Typically requires 5 years experience in the related area as an individual contributor. 1-3 years supervisory experience may be required. Extensive knowledge of the function and department processes. Banking & Commercial Loan Workout Manager Salaries in New Britain, CTAlternate Job Titles:Commercial Loan Workout Manager, Loan Restructuring Officer, Problem Loan Restructuring/Resolution Officer, Banking & Commercial Loan Workout Manager
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Assists in the management of the loan processing operations team that originates, processes, and closes various types of loans. Implements processes and procedures to maintain accuracy and completeness of required documentation. Monitors achievement of operating performance metrics and standards for speed, quality, and customer service. Develops solutions to resolve operational issues. Oversees the preparation of reporting for internal departments and external agencies. Coordinates audit requests and processes. Develops training and communication mechanisms that inform the team of regulatory requirements and updates. May require a bachelor's degree. Typically reports to a manager. Supervises a group of primarily para-professional level staffs. May also be a level above a supervisor within high volume administrative/ production environments. Makes day-to-day decisions within or for a group/small department. Has some authority for personnel actions. Typically requires 3-5 years experience in the related area as an individual contributor. Thorough knowledge of functional area and department processes. Loan Processing Assistant Manager Salaries in New Britain, CTAlternate Job Titles:Business Loan Processing Manager, Commercial Loan Processing Manager, Loan Processing Assistant Manager
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Supervises the day-to-day loan processing operations involved with the origination and documentation of various types of loans. Implements processes and procedures to maintain accuracy and completeness of required documentation. Tracks team performance against established metrics and standards for speed, quality, and customer service. Performs quality checks and resolves issues. Prepares reporting for internal departments and external agencies. Participates in audit requests and processes. Delivers new hire and team training. Provides updates on policy and regulatory requirements and changes. May require an associate degree or equivalent. Typically reports to a manager. Supervises a small group of para-professional staff in an organization characterized by highly transactional or repetitive processes. Contributes to the development of processes and procedures. Typically requires 3 years experience in the related area as an individual contributor. Thorough knowledge of functional area under supervision. Loan Processing Supervisor Salaries in New Britain, CTAlternate Job Titles:Loan Origination/ Processing Supervisor - Consumer, Loan Processing Supervisor
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Manages the loan processing operations team that originates, processes, and closes various types of loans. Establishes processes and procedures to maintain accuracy and completeness of required documentation. Develops and sets operating performance metrics and standards for speed, quality, and customer service. Oversees the preparation of reporting for internal departments and external agencies. Coordinates audit requests and processes. Develops training and communication mechanisms that inform the team of regulatory requirements and updates. Typically requires a bachelor's degree. Typically reports to a senior manager or head of a unit/department. Manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. Typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes. Loan Processing Manager Salaries in New Britain, CTAlternate Job Titles:Processing Manager - Mortgage Loans, Loan Processing Manager
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Processes loan payments; inputs data to document transactions. Authorizes reports for credit, appraisals, employment, etc. Prepares and collects fees. May interact with collection department regarding delinquencies/non-payments. Requires a high school diploma or its equivalent. Typically reports to a supervisor. Possesses a moderate understanding of general aspects of the job. Works under the close direction of senior personnel in the functional area. May require 0-1 year of general work experience. Mortgage Payment Processing Clerk Salaries in New Britain, CTAlternate Job Titles:Mortgage Loan Servicing Payment Transactions Clerk, Mortgage Payment Processing Clerk
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Manages loan review staff to ensure that commercial loans comply with established policies and credit standards. Personally reviews the largest size loans of the most complexity. Typically requires a bachelor's degree. Typically reports to a head of a unit/department. Typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. Typically requires 3+ years of managerial experience. Commercial Loan Review Manager Salaries in New Britain, CTAlternate Job Titles:Commercial Loan Review Group Manager, Commercial Loan Review Manager
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Solicits and services a variety of large and complex commercial loans. Performs a due diligence review of potential borrowers, including a risk and financial analysis. Approves loans within established limits or presents to loan committee for approval. Monitors and maintains existing commercial loan portfolio. Adheres to all regulatory requirements and internal risk and operating policies and procedures. Typically requires a bachelor's degree. Typically reports to a manager. Works autonomously. Goals are generally communicated in "solution" or project goal terms. May provide a leadership role for the work group through knowledge in the area of specialization. Works on advanced, complex technical projects or business issues requiring state of the art technical or industry knowledge. Typically requires 10+ years of related experience. Commercial Loan Officer V Salaries in New Britain, CTAlternate Job Titles:Commercial Lending Officer V, Commercial Loan Officer V