Senior Closing Officer/Lead Closing Officer - Commercial Real Estate and Syndications

KeyBank•Brooklyn, OH

2d•$57,000 - $125,000•Hybrid

About The Position

Senior Closing Officer ABOUT THE JOB (JOB BRIEF) This position is responsible for: (a) independently manage and maintain an active closing portfolio consisting of moderate to highly complex loan transactions, (b) be proficient in understanding, analyzing and negotiating legal documents and loan closing due diligence (c) drive the closing process from loan approval through closing, reviewing due diligence along the process; and (d) be responsible for some continued post-closing monitoring. The product types that the Closing Officer should be proficient in range from simple extensions and modifications to complex borrowing base loans (including multiple tranche transactions), line of credit facilities, standby letters of credit or revenue bond transactions, any of which may be syndicated/participated. This Closing Officer is required to deliver superior client service to internal and external clients while using sound judgment and decision-making skills in gray areas for “win-win” outcomes while balancing policy, procedures, client needs and bank risks. Adherence to internal compliance procedures (OFAC, Patriot Act, etc.), credit approval, risk management and document standards is critical. The Closing Officer is expected to collaborate with the entire Servicing team, sharing information, knowledge, best practices and experiences in order to maximize efficiency, service quality and results. The Closing Officer may be asked to participate and/or lead special projects on occasion. Lead Closing Officer ABOUT THE JOB (JOB BRIEF) Responsible for closing assigned portfolio consisting of a variety of products, primarily in Healthcare Group (HCG) and Institutional Real Estate (IRE). Independent management of all pre-closing and conduct review of due diligence, including adhering to internal compliance procedures (OFAC, Patriot Act, etc.), credit approval, risk management and documentation standards according to internal closing procedures and controls. Responsible for providing superior client service in proactively driving the closing process, engaging legal counsel and third-party vendors, following progress on the closing checklist, identifying items/conditions to be satisfied and the party responsible, through funding and all post-closing functions.

Requirements

4-year College Degree or equivalent real estate business experience
Paralegal training, law degree and/or LPO license preferred
Ability to work independently without on-site direct supervision
Strong knowledge and experience in construction and interim loan financing including commitment/loan structures, title/liens, contracts, leases, AIA documents, project budgets, insurance, loan documents and other legal documentation, and compliance with state/market legal requirements
Strong solution-oriented and problem-solving skills; detail-oriented
Demonstrated decision-making ability
Demonstrated ability to prioritize and handle multiple tasks in a high closing volume environment
Significant experience with multi-bank loan participations/syndications and secondary market standards
Strong aptitude for analysis, systems and mathematics
Strong written and verbal communication skills
Strong planning and organizational skills
Proven ability to prioritize and handle multiple tasks in a high-volume environment
Familiarity with commercial loan accounting systems
PC proficiency including familiarity with Microsoft Excel, Word and Lotus Notes Email
4-year College Degree or equivalent real estate business experience
Paralegal training, law degree and/or LPO license preferred
Experience with closing process and real estate loan financing including commitment/loan structures, title/liens, insurance, loan documents, contracts, leases, AIA document, project budgets and other legal documentation and compliance with governmental legal requirements (Familiarity of HCG product a plus).
Strong solution-oriented and problem-solving skills; detail-oriented
Demonstrated decision-making ability
Experience with multi-bank loan participations/syndications and secondary market standards
Strong aptitude for analysis, systems and mathematics
Strong written and verbal communication skills
Strong planning and organizational skills
Proven ability to prioritize and handle multiple tasks in a high-volume environment
Familiarity with commercial loan accounting systems
PC proficiency including familiarity with Microsoft Excel and Word.
Keeps promises and honors commitments.
Accepts responsibility for mistakes and failures and learns from them.
Demonstrates open, honest communication.
Be knowledgeable about the financial services industry and Key’s competition.
Understand the value proposition of the business and how it contributes to Key’s business strategy.
Understand and apply Key’s risk management philosophy in day-to-day interactions.
Understands the value of excellent client service and demonstrates commitment to client satisfaction for internal and external clients while balancing organizational profitability.
Actively listens to internal/external client feedback and delivers appropriate solutions.
Applies judgment within established guidelines to resolve client issues and needs and escalates issues to manager when appropriate.
Take ownership of your personal development plan and seek opportunities to further develop your skill set.
Proactively share your knowledge to help others develop and to improve the performance of the team.
Can be counted on to exceed goals successfully; is consistently a solid performer, is very bottom line oriented; steadfastly pushes self and others for results.
Demonstrates personal accountability for achieving results within established timelines and budget parameters.
Pursues work with energy, drive and focus.
Identifies and involves the right stakeholders to make decisions and maximize results.
Readily shares information, knowledge, best practices, and ideas with teammates.
Leverages opportunities and capabilities across the team to accomplish goals.
Attentive and active listener; has the patience to hear people out; can accurately restate the opinion of others even when he/she disagrees.
Effectively navigate and embrace change; exhibit an openness of new ways of doing things and an adaptable, continuous improvement mindset.
Make quality decisions in a timely manner; sometimes with incomplete or ambiguous information and under tight deadlines/pressure.
Understand the boundaries of your decision making and escalate decisions appropriately.
Openly expresses views and delivers candid and constructive feedback with a positive mindset to teammates and manager.
Welcomes constructive feedback and strives to improve personal effectiveness based upon feedback.
Steps up to conflict and views it as an opportunity; finds common ground and fosters cooperation with minimum noise.
Demonstrate passion for improving business results.
Understand how your role fits into the vision of the department and the organization.
Apply an understanding of the department’s vision and purpose to your prioritize work.
General Office - Prolonged sitting, ability to communicate face to face in person or on the phone with teammates and clients, frequent use of PC/laptop, occasional lifting/pushing/pulling of backpacks, computer bags up to 10 lbs.

Nice To Haves

Familiarity of HCG product a plus

Responsibilities

Provide closing expertise to internal clients in pre-closing process through review of items required to close, review of credit approval and assistance with review of commitment letter and loan documentation
Proactively drive the closing process with client, utilizing the closing checklist to identify and monitor progress of items required to close the transaction
Engage/coordinate outside consultants necessary for the transaction including legal counsel and construction consultant
Accumulate and review all loan documentation and other information for conformity to credit policy, credit approval, and commitment letter; analyze, review and negotiate client-requested changes with counsel and/or Sales as appropriate
Review and analyze Borrower provided insurance with insurance standards
Order flood zone determinations and provide analytical review and assurance of all federal regulated requirements are met for SFHA collateral, including movements in and out of a SFHA
Review and analyze construction documents, including construction schedule, construction budget and construction contracts
Ensure ongoing communication with client, Sales, legal counsel, title agent, construction consultant, Servicing Officer and all other necessary parties during pre-closing and closing process (initiate pre-closing meetings)
Work with Servicing Officer, consultant and Sales to ensure project budget is balanced and conforms to loan approval
Consistently deliver distinctive personalized service to external and internal clients; participate in client meetings
Ensure all pre-closing conditions of approval are met prior to closing/funding and monitor all post-closing items
Provide authorization to close to Servicing Officer; work closely with multiple parties to achieve a well-coordinated and timely closing, funding and booking of the transaction
Effectively communicate and work with banks on syndicated/participated transactions; lead or participate in syndication bank group meetings and ensure Bank documentation and closing requirements are met
Coordinate collection of all fees and charges necessary to close transaction (and utilizing various appropriate systems for management of such fees and charges)
Provide required documentation for booking transaction and fees
Utilize system for timely updates on deal status, and ensure all documentation is in place for timely uploaded and ensure all documentation is maintained in digital closing file
Utilize internal Compliance Applications in order to ensure adherence to all governmental and fiduciary laws, including OFAC and Patriot Act
Clearly and immediately communicate problems/issues with appropriate elevation of such problems/issues and assist in the resolution of such issues affecting client service and risk management
Adherence to timeframes for all required training
Provides closing expertise to RM/PM in pre-closing process through review of items required to close, review of credit approval and assistance with review of commitment letter and loan documentation
Drives closing process with client, utilizing closing checklist to identify and monitor progress of items required to close and responsible parties for such
Engages/coordinates outside consultants necessary for the transaction including legal counsel
Accumulates and reviews all loan documentation and other information for conformity to credit policy, credit approval, and commitment letter; reviews and negotiates client-requested changes with counsel and/or RM as appropriate
Ensures ongoing communication with client, RM, PM, legal counsel, title agent, consultants, Servicing Officer and all other necessary parties during pre-closing and closing process
Works with Servicing Officer, consultants and RM to ensure project budget is balanced and conforms to loan approval.
Delivers distinctive personalized service to external and internal clients; participates in client meetings
Utilizes transaction tracking system to update transaction status
Ensures all pre-closing conditions of approval are met
Provides authorization to close to Servicing Officer; works closely with multiple parties to achieve a well-coordinated and timely closing, funding and booking of the transaction
Effectively communicates and works with banks on syndicated/participated transactions; leads or participates in syndication bank group meetings (each with Team Lead assistance as needed) and ensures Bank documentation and closing requirements are met
Coordinates collection of all fees and charges necessary to close transaction
Provides required documentation for booking transaction and fees
Utilizes RECWeb system for timely updates on deal status, and timely uploading and maintaining of closing file and all appropriate documents
Ensures all pre-closing conditions of approval are met and proactively monitors all post-closing items
Utilizes Compliance Applications in order to ensure adherence to all governmental and fiduciary laws, including OFAC and Patriot Act
Clearly and immediately communicates problems/issues and elevates appropriately; assists in resolving issues affecting client service and risk management
Adheres to timeframes for all required training