Loan Documentation Paralegal

4 weeks ago

Honolulu, United States Central Pacific Bank Full time
Job DescriptionJob Description

Position Function:

This position reports to the department manager and includes the following minimum responsibilities:

(i) Performs legal due diligence of corporate documents, verifies collateral lien positions, prepares instructions on disbursing loan proceeds, completes internal booking forms and reviews of insurance certificates while minimizing the bank's risk by ensuring loan documents and ancillary requirements comply per credit approval documents and established internal policies.

(ii) Documents complex commercial real estate and commercial credits while utilizing bank’s internal loan documentation software, LaserPro, while ensuring the highest level of accuracy and quality in a timely manner. Performs review of flood zone determinations and flood declarations to determine if real estate secured loans have adequate flood insurance coverage as required by the flood disaster protection act and implemented federal regulations. Complex commercial real estate and commercial credits are defined as credit facilities which contain a large number of complex terms and closing conditions, financial reporting requirements, covenants, and/or multiple collateral which may include participations, interaction with outside counsel and real estate in the State of Hawaii.

(iii) Responsible for managing post-closing documentation follow-up items and reports. Work closely with loan specialists to monitor tasks, update accordingly, and obtain outstanding items while identifying those which require additional approval to remain as outstanding items after the initial post-closing date.

Performs all duties and interacts with internal and external customers in a manner aligned with the Company's Core Values of Voyaging Spirit and Positively Ohana; Customer Experience Competencies of Customer Interaction, Empowerment and Ownership; and Basic Skills of Listening, Oral Communication, Written Communication, Action Orientated, Thoroughness, Problem Solving.

Primary Accountabilities:

  • Prepares and/or facilitates preparation of commercial loan documents in a timely and accurate manner as set forth in the Credit Approval Document (CAM, Modification Agreement, etc.). Proactively works with the loan specialist, relationship officer, and outside counsel (when applicable) during documentation process to identify requirements related to the documentation request, including anything that may preclude or complicate loan closing, funding, or recording, and agree on appropriate resolution to ensure quick response for the bank customer. Proactively involves the Department Manager, relationship officer, Compliance, Bank Secrecy Act (BSA), and/or credit administrator as appropriate to resolve any compliance, documentation, and regulatory matters. Demonstrates exceptional knowledge of the bank’s credit policies and documentation standards.
  • Proficient producer of quality business purpose documents in the loan documentation software system. This process includes learning workarounds and being able to identify where language in certain loan documents belong. Knowing the difference between boilerplate language that cannot be changed or edited and language that can be inserted into loan documents which don’t affect the bank’s warranty protection with LaserPro. Responsible for monitoring follow-up task reports weekly. Ensures follow-up tasks have comments, dates, and are approved by an appropriate authority. Tracks and resolves all post-closing tasks with lending units.
  • Performs loan documentation reviews and provides Quality Review with final sign off for Documentation Specialist.
  • Identifies commonly occurring challenges and brings them to the attention of the department manager, together with a suggested approach/recommendation for resolution.
  • Timely develops and completes distinct projects under the direction of the department manager.
  • Demonstrates a positive attitude and a team player; must be prepared to relieve Documentation Specialists.

Minimum Qualifications:

Education:

  • High School Diploma required.

Experience:

  • 6+ years of experience with competencies in:
    • Complex real estate transactions in the State of Hawaii, including due diligence, regulatory & compliance matters, and title work;
    • Legal entities
    • The development of compliance policies & procedures; and
    • The development of teamwork across business units.
  • A Bachelor's degree or Paralegal Degree/Certification in a relevant field (with coursework in areas of business law, contract law, real estate property) may substitute for 2 years of experience.

License/Certification:

  • Paralegal Certification preferred.

Physical Requirements & Working Conditions:

  • Must be able to perform light physical work and to move or lift items including but not limited to boxes, files and papers up to 20 pounds unless otherwise as indicated.
  • Must be able to operate and proficiently use standard office equipment, including phone, copier, personal computer and/or other work related mechanical or electronic devices and applications.
  • Must be able to clearly communicate verbally and in writing with all internal and external customers. Must also be able to hear sufficiently to engage in daily discussions and interactions.
  • Must be able to read and understand bank-related documents.
  • Must be able to work in a conventional office setting, involving sitting at a desk or workstation for long periods of time. Must also be able to adapt to different work environments as needed to perform the job.
  • Must reside in Hawaii.

We are proud to be an EEO/AA employer M/F/D/V. We maintain a drug-free workplace and perform pre-employment substance abuse testing.

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