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Commercial Loan Closing Specialist
2 months ago
Position Overview:
The Loan Closer plays a critical role in the precise and timely finalization of commercial loans. This position requires collaboration with multiple departments, meticulous preparation of closing documents, and effective management of the closing process to ensure adherence to bank policies and regulatory standards.
Key Responsibilities:
- Prepare and scrutinize closing documents for various commercial loan types, including Commercial Real Estate (CRE), Construction, Commercial & Industrial (C&I), and unsecured lines of credit.
- Collaborate with underwriting, legal, compliance, and other relevant departments to confirm that all conditions are satisfied prior to closing.
- Independently oversee the examination of the preliminary title report, address any issues, and request the necessary endorsements for the final policy.
- Facilitate communication with borrowers, attorneys, and third parties to ensure seamless loan closings.
- Verify that all loan documentation is complete and accurate.
- Manage the closing calendar and coordinate closing dates.
- Conduct final reviews and quality checks on closing packages.
- Ensure compliance with all regulatory requirements and internal policies.
- Address any issues that may arise during the closing process.
- Maintain precise records of closed loans and update loan management systems.
Qualifications:
- Bachelor's degree in finance, business administration, or a related field.
- A minimum of 5 years of experience in commercial loan closing.
- Strong understanding of commercial loan products and closing procedures.
- Excellent organizational, communication, and problem-solving abilities.
- Capacity to manage multiple tasks and meet deadlines.
Preferred Qualifications:
- Paralegal certification or a related legal background.
Compensation:
The anticipated annual salary for this role ranges from $85,000 to $110,000. Salary offers are determined based on individual skills and experience. In addition to the base salary, the total rewards package includes eligibility for an annual bonus, comprehensive medical, pharmacy, dental, and vision plans, life and disability insurance, an employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.
Additional Information:
The Bank is committed to providing reasonable accommodations to employees with known mental or physical disabilities, pregnant individuals, victims of domestic violence, and employees with religious observance obligations. Employees who believe they need accommodations should contact their supervisor or Human Resources.
Disclaimer:
The statements above are intended to describe the general nature and level of work performed by individuals in this classification. They are not exhaustive lists of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities as needed.