Post Closing Specialist

Live Oak Banking • Wilmington, NC

4d

About The Position

As a part of the Post-Closing department, the Post Closing Specialist 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 and loan review process are critical steps of protecting the bank against losses, which in turn impacts profitability.

Requirements

• Associates or Bachelor’s Degree (or equivalent work experience in Post-Closing or similar role)
• Customer service and/or a job that required teamwork
• Basic commercial loan documentation knowledge
• Excellent oral and written communication skills
• 1-2+ years Banking or legal real estate experience (closing, processing, lending, etc.)

Nice To Haves

• Familiarity with SBA lending procedures strongly preferred.
• Familiarity with SBA lending procedures

Responsibilities

• Evaluate loan structures, understand complex problems, and identify trends
• Conduct thorough reviews of commercial loan files and/or collateral records post-closing to identify any potential risks or discrepancies
• Review loans and/or collateral for accuracy, with a strong understanding of various loan products including USDA, FSA, Conventional, and SBA. Familiarity with loan agreements, security agreements, promissory notes, and collateral documents is essential
• Develop the ability to mitigate risks and recommend appropriate actions to management
• Work closely with departments and stakeholders including closing, underwriting, credit, legal counsel, and compliance to ensure loan file accuracy
• Collaborate with legal counsel and internal partners regarding closed loan documentation
• Identify and address issues related to bank compliance guidelines such as the Bank Secrecy Act, CIP, Regulation B, and Anti-Money Laundering, and internal policies and procedures
• Support the Head of Post-Closing & Insurance and/or the Post-Closing Managers with special projects such as checklist management, departmental manual updates, and technology initiatives
• Assist in preparing loan files for audits conducted by various agencies throughout the year
• Contribute to a collaborative team environment, recognizing that every member is vital to success
• Partner across teams and departments to consistently produce highly accurate files and be seen as a reliable resource
• Be open to feedback and set a positive example for the team
• Follow all applicable regulatory requirements
• Develop proficiency in using bank systems
• Gain and maintain a thorough understanding of the bank's products and services
• Perform other duties as needed and be willing to cross-train
• Manage shifting priorities and timelines effectively
• Demonstrate sound judgment and a detail-oriented approach in decision-making
• Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC

Benefits

• Paid sick leave

What This Job Offers

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