SBA Closing Officer

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Are you enthusiastic, highly motivated, and have a strong work ethic? If yes, come join our team At Cathay Bank – we strive to provide a caring culture that supports your aspirations and success. We believe people are our most valuable asset and we proudly foster growth and development empowering you to achieve your professional goals. We have thrived for 60 years and persevered through many economic cycles due to our team members' drive and optimism. Together we can make a difference in the financial future of our communities.

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GENERAL SUMMARY

Under the supervision of the SBA Closing Manager, the SBA Closing Officer supports various functions of SBA lending, including loan packaging, and primarily the closing and post-closing process, as well as ensuring compliance with SBA rules and regulations. Under minimal supervision and following established department policies and procedures, prepares and analyzes loan closing, servicing, liquidation; and participates in problem resolution.

ESSENTIAL FUNCTIONS

• Prepare and review the SBA, GP, CLP, and PLP loan submission packages.
• Ensure SBA Terms and Conditions are consistent with approved credit memo.
• Prepare and review Closing Checklist and SBA closing documents.
• Prepare and review Lender's Escrow Instructions.
• Review Prelim Title Report, Purchase Agreement and Escrow Instructions.
• Review loan file for any missing items and follow up with loan officer/borrower.
• Coordinate with borrower, broker, title, escrow, CDC and outside counsel for loan closing.
• Review entity formation documents and submit the loan doc request to DCF via nCino.
• Collect all pending items, including insurance, upload all executed loan documents to nCino, and coordinate funding with DCF.
• Fund and service in compliance with SBA, SOP, and Bank approval conditions in a timely and accurate manner.
• Issue cashiers check to pay all necessary loan related fees and costs.
• Generate monthly production reports and prepare the G/L Account & SBA Bank Control Account Certifications.
• Track loan referrals within the Bank and prepare loan broker referral fee after loan closing.
• Assists in operational duties of the division, including supporting the required paperwork for secondary market sales.
• May provide training and coaching to less experienced team members in the department.

QUALIFICATIONS

• Education: College degree in accounting, finance, or business preferred but not mandatory.
• Experience: Minimum 2 years independently closing and packaging SBA 7(a) and 504 loans.
• Skills/Ability: PC proficient and detail oriented. Strong verbal and written communication skills. Bilingual (English/ Mandarin or Cantonese) is a plus.

OTHER DETAILS

$28.85 – $34.75 / hour

Pay determined based on job-related knowledge, skills, experience, and location.

This position may be eligible for a discretionary bonus.

Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

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Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision-making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law.

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