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Loan Closing
2 months ago
JOB SUMMARY:
Reporting to the VP department head, this position will working closely with colleagues in the Line of Businesses, Loan Documentation Unit, and Loan Operations Unit to help coordinate loan closing and booking, quality control on boarded loans, creation and management of tickler reports, and responding to inquiries. Ability to work in changing environment.
PRINCIPAL DUTIES & RESPONSIBILITIES:
Pre-closing, closing, post-closing process
Follow client loan cycle from pipeline discussion, term sheet, credit approval, KYC, documentation, closing, initial funding and post-closing.
Engage internal stakeholders to help facilitate the onboarding and ongoing client maintenance processes. Coordinate client onboardings across multiple functions / units - Front Office, Compliance, AML, Operations, Legal, etc. in a high pressure / time-sensitive environment.
Manage and lead the coordination of commercial loan closings from term sheet to initial funding and booking. Interface with internal business partners, title companies, lawyers.
Review bank agreements, legal documents, and other paperwork for completeness and accuracy against credit approval.
Collect, review, analyze due diligence required to close a commercia loan including entity documentation, UCC searches, flood determinations, appraisals, environmental reports, insurance, title surveys and other documentation as required.
Keep log of exceptions to credit policy.
Prepare boarding documents for submission to Loan Operations Unit (LOU).
Review documentation prior to closing and check for missing items/forms.
Coordinate with Loan Operations Unit (LOU) on loan closing and booking within ACBS.
Review ACBS or other loan system of record for accuracy within 15 days after closing.
Undertake renewal due diligence on existing clients to ensure identification of changes in regulatory profile, including reputational and operational risk factors.
Coordinate with KYC team that client profile has been completed and reviewed before onboarding.
Assist management with various operational duties and responsibilities including the gathering of tickler reports (covenants, coming due/past due items, annual reviews, KYC logs, Reg B Compliance).
Coordinate and prepare reports for Portfolio Management Hygiene Reports for each business within Commercial Banking.
Follow up with Relationship and Portfolio Managers to update tickler status.
Participate in testing enhancements to client due diligence databases, reports, and systems.
Assist with special projects and audits, as necessary.
Attend training sessions to gain understanding of loan process, documentation, banking products, KYC/AML, Compliance, etc.
Be willing to cross-train and be cross-trained in other departments within Middle Office.
Perform background checks in Horizon, ChexSystems, LexisNexis or other systems as required.
Participate in Business Continuity Management testing as needed.
Other duties as assigned by management.
Quality Control
Create and manage Portfolio Management Hygiene Tickler reports to include the following:
UCC filings
Past Due Loan Covenant Ticklers
Upcoming/Past Due Annual Reviews
Completed/Pending KYCs
Reporting
Pull reports as requested to include:
Experian, Dun & Bradstreet, UCC filings, Certificate of Good Standing, Flood Certificates, IBISWorld, Property profiles, OFAC, Profit Vision, Secretary of State documents
Reconciliation of monthly billing for above vendors.
Compliance/Audit
Assist with internal audit compliance and response to inquiries.
POSITION SPECIFICATIONS:
Education:
Bachelors degree or equivalent
Skills/ Qualifications:
Ideally a minimum of 3+ years experience in banking or financial services
Ability to learn and adapt to new information and systems
Problem-solving, organizational and time management skills
Good interpersonal skills
Composure in fast-paced, high-pressure environments
Attention to detail
Team player
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