Closing & Disbursement Specialist

Exchange Bank•Santa Rosa, CA

6d•$23 - $33

About The Position

SUMMARY: The Closing & Disbursement Specialist is responsible for review of all new and renewed loans to ensure proper policy, procedural and compliance requirements have been adhered to and loans have been documented in accordance with the approved terms while providing an efficient loan closing process for customers and maintaining high quality standards . ESSENTIAL FUNCTIONS: Closing and Disbursement Specialist I Funding: Ensure review of Commercial and Mortgage loans and Lease documents signed with all conditions met prior to funding/disbursement. Ensure file, credit memo, loan documents and escrow instructions are accurate and queued for funding/disbursement. Serve as liaison between title and escrow officers, Bank and client attorneys, loan participation banks, appraisers, environmental firms, customers, various Bank department team members and others as needed. Review preliminary report and title policy exception/easements and legal descriptions for pre-closing and post-closing documents to ensure they meet and satisfy bank policy. Monitor the appraisal review, flood insurance, and other insurance requirements for loan pre-closing. Ensure all closing documents are in balance and fully compliant once loan is closed. Enter into loan tracking system for appropriate follow up. Work with department management team to follow up on internal audit and outside examination exceptions as needed: Fund new loan packages via cashier's check, deposit, credit, or wire as required; disburse credit line funds to borrower's accounts (advances), after determining that proper protocol and authority has been met. Prepare/Process and submit ACH and Wire fundings and disbursements for approval in a timely and compliant manner as needed. Non-Essential Functions: Perform other duties as assigned. Closing and Disbursement Specialist II Quality Control: Ensure review of Construction, Land Development, Residential, SBA, Commercial and Mortgage loans and Lease documents signed with all conditions met prior to funding/disbursement. Ensure file, credit memo, loan documents and escrow instructions are accurate and queued for funding/disbursement Serve as liaison between title and escrow officers, Bank and client attorneys, loan participation banks, appraisers, environmental firms, customers, various Bank department team members and others as needed. Review preliminary report and title policy exception/easements and legal descriptions for pre-closing and post-closing documents to ensure they meet and satisfy bank policy. Monitor the appraisal review, flood insurance, and other insurance requirements for loan pre-closing. Ensure all closing documents are in balance and fully compliant once loan is closed. Enter into loan tracking system for appropriate follow up. Work with department management team to follow up on internal audit and outside examination exceptions as needed. Funding: Fund new loan packages via cashiers check, deposit, credit, or wire as required; disburse credit line funds to borrower's accounts (advances), after determining that proper protocol and authority has been met Prepare/Process and submit ACH and Wire fundings and disbursements for approval in a timely and compliant manner as needed. Issue payoff statements to Title Companies on construction and land development loans and ensure that repayments are processed accurately by the Loan Service Center. Non-Essential Functions: Perform other duties as assigned.

Requirements

Basic knowledge of Commercial Real Estate, Mortgage lending, Construction, SBA and Consumer loan closing and disbursement/funding methodology and procedures.
Basic knowledge of regulatory compliance requirements.
Skills operating a personal computer particularly Microsoft Office Suite (Word, Outlook, Excel) and Web/Internet usage.
A combination of education and experience equivalent to an associate's degree in business or related field; and/or knowledge typically gained through a minimum of two years of experience in banking or other administrative field.
Intermediate knowledge of Commercial Real Estate, Mortgage lending, Construction, SBA and Consumer loan closing and disbursement/funding methodology and procedures.
Intermediate knowledge of regulatory compliance requirements.
Intermediate knowledge and understanding SBA SOP.
Skills operating a personal computer particularly Microsoft Office Suite (Word, Outlook, Excel) and Web/Internet usage.
A combination of education and experience equivalent to an associate's degree in business or related field; and/or knowledge typically gained through a minimum of two years of experience in Construction, Commercial, and/or Residential lending.
Ability to stand, bend, stoop, sit, walk, twist and turn.
Ability to lift up to 25 pounds occasionally.
Ability to use a computer keyboard and calculator.

Responsibilities

Ensure review of Commercial and Mortgage loans and Lease documents signed with all conditions met prior to funding/disbursement.
Ensure file, credit memo, loan documents and escrow instructions are accurate and queued for funding/disbursement.
Serve as liaison between title and escrow officers, Bank and client attorneys, loan participation banks, appraisers, environmental firms, customers, various Bank department team members and others as needed.
Review preliminary report and title policy exception/easements and legal descriptions for pre-closing and post-closing documents to ensure they meet and satisfy bank policy.
Monitor the appraisal review, flood insurance, and other insurance requirements for loan pre-closing.
Ensure all closing documents are in balance and fully compliant once loan is closed.
Enter into loan tracking system for appropriate follow up.
Work with department management team to follow up on internal audit and outside examination exceptions as needed
Fund new loan packages via cashier's check, deposit, credit, or wire as required
Disburse credit line funds to borrower's accounts (advances), after determining that proper protocol and authority has been met.
Prepare/Process and submit ACH and Wire fundings and disbursements for approval in a timely and compliant manner as needed.
Issue payoff statements to Title Companies on construction and land development loans and ensure that repayments are processed accurately by the Loan Service Center.