Loan Closing Manager

Unity Bank • Clinton, NJ

6d • $99,880 - $135,132

About The Position

The Loan Closing Manager prepares commercial and SBA loan documents and coordinates loan closings with credit analysts, loan officers, attorneys, customers, and outside vendors. The role verifies borrower information, assembles and reviews documentation, confirms insurance and collateral perfection, and ensures loan files are complete and compliant with Bank policies and applicable laws and regulations. The manager also disburses loans, maintains related records and tracking systems, and supports loan modifications and collateral releases.

The position manages the loan closing staff, assigning work and ensuring quality, deadlines, and proper procedures. It includes coaching and training staff, evaluating performance, addressing performance issues and escalated problems, interviewing candidates, and developing departmental procedures and service standards. The manager maintains current professional and technical knowledge and stays informed about developments in commercial lending, documentation, and applicable legal and regulatory requirements.

Requirements

• Bachelor's degree or equivalent work experience.
• Three years of experience in a commercial real estate lending environment.
• Database experience.
• Knowledge of lending practices, policies, procedures, and regulations.
• Knowledge of commercial and SBA loan documentation.
• Excellent computer skills in a Microsoft Windows environment, including proficiency in Word and Excel.
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages, and apply basic algebra concepts.
• Ability to use critical thinking to assess the strengths and weaknesses of alternative solutions or approaches.
• Ability to read, analyze, and interpret legal documents, governmental regulations, and professional publications.
• Ability to present information and respond to inquiries from senior management, attorneys, vendors, government agents, and the general public; ability to write reports and business correspondence.
• Clear verbal and written communication skills.
• Ability to work independently.
• Ability to directly supervise subordinate staff.
• Strict attention to detail and thoroughness in completing duties.
• Ability to analyze information thoroughly and use logic to address complex data and information.
• Ability to monitor and assess one's own, others', and the organization's performance to make improvements or take corrective action.

Responsibilities

• Coordinate loan closings with analysts and bank attorneys.
• Examine documents and verify the accuracy of borrower information in loan files.
• Assemble documents essential to loan closings, including Flood Certifications, Title Commitments, UCC and property searches, and commercial insurance policies.
• Verify use of proceeds and disburse loans according to approvals.
• Assemble and verify the accuracy and completeness of loan documentation in compliance with Bank policy and applicable laws and regulations.
• Ensure loan files contain documents with proper signatures, dates, and other relevant information.
• Confirm and maintain evidence of hazard and liability insurance.
• Maintain the document tracking system and follow up to ensure collateral is properly perfected.
• Follow up with legal representatives on attorney-closed loans to ensure recorded documents are received.
• File and maintain UCC financing statements and other legal documentation.
• Enter loans into the real estate tax system when appropriate.
• Control disbursements for construction and multi-disbursement loans.
• Prepare loan documents and facilitate closings for in-house commercial and SBA loans.
• Prepare loan documentation for changes in terms, modifications, subordinations, or substitutions of collateral for the Bank's portfolio.
• Release collateral for paid loans.
• Review loans quarterly for adherence to laws and regulations as part of the institution's Compliance Monitoring Program.
• Communicate with customers, loan officers, credit analysts, attorneys, and outside vendors to obtain documents needed to close loans and perfect collateral.
• Respond to customer requests regarding loan transactions and cross-sell other products and services as appropriate.
• Manage loan closing staff, assign duties, ensure quality standards, deadlines, and procedures are followed, and correct errors or problems.
• Guide employees through difficult or complex problems and escalated complaints or disputes.
• Identify staff development needs and provide coaching and training.
• Evaluate staff performance annually and recommend appropriate actions.
• Discuss performance problems with staff to identify causes and work toward resolution.
• Interview and select employees to fill vacancies.
• Develop and implement departmental policies, procedures, and service standards; interpret and communicate work procedures and Bank policies to staff.
• Maintain technical and professional knowledge through education, certifications, publications, professional networks and societies, and awareness of legal, policy, and procedural changes.
• Monitor industry changes, trends, and best practices and assess their potential effects on processes and procedures.
• Understand and follow applicable compliance policies and procedures, complete assigned compliance training, and perform duties in a compliant manner.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager