• Understanding of commercial lending policies and procedures related to loan closing
• Understanding of business entity structures
• Experience with new account opening and/or creating bank customer profiles
• Experience and understanding of FinCEN requirements regarding Beneficial Ownership
• Experience with AFS / ACBS Commercial Loan Systems
• Experience researching loan related issues
• Experience with commercial loan due diligence, loan documentation and loan closings
• Experience performing quality reviews once loans have been closed and booked to a commercial loan system
• Strong attention to detail and root cause analysis skills

GENERAL FUNCTION:

Responsible for the determination of requirements, review, analysis and completion of all due diligence associated with the commercial loan documentation and closing process. This includes the satisfaction of credit approval conditions prior to the preparation of commercial loan documentation. These responsibilities include identifying, requesting, reviewing and critical interpretation of all 3rd party provided documents needed to grant the "clear to close".  This also includes coordinating the efforts to prepare commercial loan documentation for all commercial loans including real estate and non-real estate secured loans. Communicates proactively with sales, credit, external partners and 3rd party vendors while ensuring the bank meets the closing date and time expectations of the borrower. Independently uses established guidelines to receive and review vendor documents. Clears liens and credit conditions and confirms loan to value ratios for a complex line of loan product sets, borrowing entities.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Receives, reviews and analyzes draft and final credit approval/credit memo from underwriter or portfolio manager and determines due diligence requirements.
• Analyzes and interprets the loan approval to determine borrower, collateral, guarantor and loan structure requirements.
• Control point to confirm evidence of sufficient lending authority obtained on the credit approval.
• Manages workload by monitoring newly received loans as well as tracking work in process.
• Orders and/or interprets supplemental vendor due diligence information to ensure borrower, collateral and guarantor requirements are met and ensures production of appropriate documentation in compliance with all terms of the loan request such as:

  • Title commitment / title search
  • UCC (Uniform Commercial Code) search
  • Evaluation or real estate appraisal
  • Environmental questionnaire, RSRA/Transaction Screens or evaluation (phase I/II)
  • Flood determination and other regulatory or compliance items
  • Proof of insurance documents
  • Survey
  • Entity documents

• Ensures adherence to the Bank's risk tolerance or escalates appropriately.
• Promptly and accurately determines when all underwriting approval conditions for the loan closing have been satisfied. Takes appropriate remedial actions to resolve deficiencies and escalates questions/disputes to appropriate level when necessary.
• Determines closing date expectations and advises sales and credit of obstacles that may impede meeting client expectations.
• Coordinates efforts to establish the closing date and time with all parties concerned including internal and external attorneys (as applicable), title companies, external customer and relationship manager or financial center manager.
• Coordinates efforts to engage and finalize preparation of loan documents by internal and external counsel in a timely manner.
• Reviews loan documents and identifies/resolves shortfalls to insure alignment with the deal structure and credit approval.
• Understands all business entity structures and obtains/reviews entity documents to determine authorized parties that can bind the entity to the loan transaction.
• Proactively contacts customers directly to obtain required documentation and when facilitating closing date/times, when applicable.
• Collaboratively works with and shares knowledge with internal partners and divisions.
• Understands, determines and obtains appropriate approval for compliance requirements, such as Commercial Customer Identification Program (CIP), Reg. U, Consumer Purpose, Flood, etc.
• Understands and makes determination of appropriate loan coding needed for portfolio and regulatory reporting purposes, such as loan purpose, collateral type, obligation type, etc.
• Demonstrates and appropriately applies a strong, working knowledge of diverse commercial loan documentation, legal & regulatory requirements (including unique state regulations) policies and procedures, and applies that knowledge.
• Obtains and understands all funding information and creates and/or reviews the settlement statement providing direction for the disbursement of loan proceeds.
• For internally prepared loans, makes the final determination that all due diligence has been completed, final credit approval has been received, all policies and regulations have been met. Upon this determination, notifies sales, credit, title company, etc. of due diligence complete status and requests document preparation for the loan closing.
• For attorney prepared loans, makes the final determination that all due diligence has been complete, final credit approval has been received, all closing conditions, policies and regulations have been met. Upon this determination, notifies sales, credit, title company, outside counsel, etc. of authorization to close the transaction. The loan closing cannot occur without this final LCS decision.
• Works directly with outside counsel on externally prepared commercial loan documentation, acting on the bank's behalf to review all loan documentation and confirms all due diligence items are addressed by bank or attorney, if applicable. Provides guidance and support to business partners in order to meet the needs of external customers.
• Able to coach business partners on the retail business banking and commercial lending loan closing process.
• Interacts and communicates daily with all levels, including, financial center employees, supporting business units, relationship managers, credit, underwriters, documentation preparation, REVG, title companies, 3rd parties, attorneys and flood vendors to ensure requirements are understood and met.
• Ensures all individual and departmental goals and service level agreements (SLAs) are met.
• Stays current with and applies credit policy and procedures to all transactions to mitigate risk to the Bank.
• Reviews appropriate loan accounting system and identifies discrepancies between system structure and credit approval structure and works with credit to resolve.
• Other duties as assigned.

SUPERVISORY RESPONSIBILITIES: None.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• High School diploma or equivalent. Bachelor's degree or paralegal degree preferred.
• Five to six (5-6) years experience with a focus on due diligence, loan documentation, or related work experience. Commercial loan experience preferred.
• Excellent time management and organizational skills and ability to meet deadlines under pressure
• Demonstrated an understanding of business banking and commercial lending credit policy/guidelines and applicable bank policies and procedures as they pertain to the satisfaction of loan closing conditions as well as vendor documents and services preferred.
• Excellent knowledge of most common vendor documents: title work, appraisals, flood determinations, lien searches preferred.
• Excellent knowledge of commercial/business banking loan products, loan documents and requirements, collateral evaluation, lien perfection, local, state and federal regulatory requirements preferred.
• Excellent knowledge of underwriting and Loan Doc Prep Systems, and other banking systems preferred.
• Strong personal computer skills with demonstrated knowledge of Microsoft Office products.
• Self-starter and works with minimal direction.
• Excellent verbal and written communication skills.
• Excellent negotiation skills.
• Excellent interpersonal skills and team orientation.
• Strong ability to appropriately escalate issues requiring problem solving and decision making.

Duration – expected to be a 15 month project