Commercial Loan Closer

First Merchants Brand•Indianapolis, IN

About The Position

First Merchants Bank is seeking a Commercial Loan Closer to join our team! This position will manage the closing process for complex loans by partnering with Relationship Managers (RMs) and outside legal counsel. Ensures loans are closed accurately, efficiently, and in compliance with First Merchants Corporation Commercial Loan Policy. As part of this role you will: Attend and add value in loan committee discussions; provide input into the loan approval process to ensure consistent delivery and compliance with Commercial Loan Policy. Engage attorney and initiate loan closing conference calls. Manage loan closing checklist by collaborating with Relationship Manager and acting as liaison with clients, attorneys, and internal partners. Examine loan documents as a secondary review to Relationship Manager and reconcile to Credit Decision Summary (CDS) for accuracy and completeness. Includes verification and reconciliation of: negative covenants, affirmative covenants, extension terms, and compliance certificates. Coordinate with debt capital markets and participant banks in the distribution of loan documents and determine their merits in conjunction with outside counsel. Coordinate the review of loan documentation when First Merchants purchases participations. Ensure insurance provisions are consistent with Bank standards and provide standardized requirements to borrower and/or attorney. Prepare beneficial ownership forms and loan application. Collaborate with Centralized Funding Desk to ensure funding occurs within designated timeframe. Assist in training new hires and contribute to process improvements. Complete special line of business projects as assigned by Commercial Loan Closing Manager. Specific goals set regularly.

Requirements

High school diploma or equivalent (GED)
Five (5) plus years of commercial loan closing and/or servicing experience
One (1) plus year of preparing/reviewing attorney prepared legal loan documentation

Nice To Haves

Bachelor’s degree, Finance, or related field preferred
Proficiency with lending systems
Experienced and knowledgeable with highly complex and sophisticated credit agreements and credit approvals
Solid understanding of lending regulatory requirements
Solid knowledge of departmental systems and applications
Knowledge of bank credit policy

Responsibilities

Attend and add value in loan committee discussions
Provide input into the loan approval process to ensure consistent delivery and compliance with Commercial Loan Policy
Engage attorney and initiate loan closing conference calls
Manage loan closing checklist by collaborating with Relationship Manager and acting as liaison with clients, attorneys, and internal partners
Examine loan documents as a secondary review to Relationship Manager and reconcile to Credit Decision Summary (CDS) for accuracy and completeness
Coordinate with debt capital markets and participant banks in the distribution of loan documents and determine their merits in conjunction with outside counsel
Coordinate the review of loan documentation when First Merchants purchases participations
Ensure insurance provisions are consistent with Bank standards and provide standardized requirements to borrower and/or attorney
Prepare beneficial ownership forms and loan application
Collaborate with Centralized Funding Desk to ensure funding occurs within designated timeframe
Assist in training new hires and contribute to process improvements
Complete special line of business projects as assigned by Commercial Loan Closing Manager