Associate Post Closing Specialist

Live Oak Banking • Wilmington, NC

4d

About The Position

Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.

How this role impacts Live Oak and its People
As a part of the post-closing department, you will help the bank meet and exceed audit expectations for loan documentation and accuracy. The role is essential to maintaining the bank’s safety and soundness objectives. The document intake, loan review process, and collaboration with internal teams to protect the bank against losses, which in turn impacts profitability.

Requirements

• Associate or bachelor’s degree required.
• Equivalent work experience in commercial loan post-closing or a similar role would be considered.
• Customer service and/or a job that required teamwork required.
• Excellent oral and written communication skills required.

Nice To Haves

• Experience with SBA and/or conventional lending preferred.
• Experience with paralegal real estate work, loan closing, or credit operations preferred.

Responsibilities

• Must be capable of identifying loan documentation and analyzing if it is missing and/or may have errors that need to be corrected.
• Conduct thorough reviews of basic commercial loan files post-closing to identify any potential risks or discrepancies in missing loan documentation and/or collateral records.
• Review the loan to ensure accuracy, including understanding the specifics of several types of unique loan products and/or collateral types.
• Can mitigate risks and recommend appropriate actions to management.
• Work closely with various departments and stakeholders, including closing, underwriting, credit, legal counsel, and compliance, working towards making the loan file as accurate as possible.
• Work with legal counsel and internal partners on the closed loan documentation.
• Be knowledgeable and able to identify issues in relations to bank compliance guidelines such as the Bank Secrecy Act, CIP, Regulation B, and Anti-Money Laundering requirements, as well as internal policies and procedures.
• Multiple agencies audit the bank throughout the year. Post-closing specialists are responsible for assisting in preparing the loan files for audit review.
• Function as a team and realize all members of the team are vital to its success.
• Collaborate across teams and departments in the organization, working towards always producing highly accurate files while being seen as a resource and partner.
• Follow regulatory requirements.
• Be highly coachable and open to feedback.
• Learn and gain a basic understanding of bank systems.
• Gain a thorough knowledge and understanding to stay current with products and services offered by the bank.
• Perform other duties as required, be willing to cross-train.
• Must be detail oriented and able to use sound judgement in making decisions.
• Manage shifting priorities and timelines.

Benefits

• Paid sick leave

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Associate degree