Brookline Bancorp - Boston, MA

posted 2 days ago

- Senior
Boston, MA
Credit Intermediation and Related Activities

About the position

The Commercial Loan Closing Manager is responsible for reviewing all documentation related to a commercial loan transaction. This process is crucial for ensuring that all legal and financial aspects of the transaction are properly documented and completed consistently and in accordance with the credit approved terms and conditions. This position will work most closely with the Relationship and Portfolio Managers, Commercial Administration and outside counsel. The Commercial Loan Closing Manager may take on the additional responsibility of managing a small team of Lending Assistants. The main function is to ensure all necessary documentation and legal requirements are completed accurately and efficiently with regulatory and credit policies.

Responsibilities

  • Track and schedule all loan closing and loan modifications over $3MM with Relationship Managers, Portfolio Managers and closing Attorneys.
  • Attend Management Loan Committee meetings.
  • Ensure all conditions pre and post approval have been noted and satisfied.
  • Communicate any changes to closing date with Relationship Manager, Portfolio Manager and Loan Assistant.
  • Coordinate with Relationship Managers and Bank Counsel to gather necessary information and documentation for loan closing.
  • Review all relevant documents, such as contracts, agreements, invoices, and legal forms to ensure accuracy and completeness.
  • Ensure that banking partners have been committed before closing and review Participation Agreement.
  • Review all documents related to the participants to ensure the credit approval and legal documents are aligned.
  • Ensure that all legal requirements and regulations are met, including any necessary permits, licenses, or regulatory filings.
  • Properly organize and store all documentation related to the loan closing.
  • Inform all relevant stakeholders, including clients, partners, and employees, about the successful completion of the transaction.
  • Conduct a final review to confirm that all necessary steps have been completed and that all parties are satisfied with the outcome.

Requirements

  • Bachelor's Degree or equivalent related work experience.
  • Minimum of 10 years of commercial lending and underwriting/portfolio management experience.
  • Well versed in the loan closing process.
  • Thorough understanding of CRE loan closing documentation.
  • Excellent communication skills both written and verbal.
  • Collaborative with strong leadership abilities, to influence and build relationships.
  • High level of attention to detail.
  • Be well-versed with the Bank's credit policy.
  • Management experience preferred.
  • Strong attention to detail and ability to work accurately under pressure.
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