Senior Commercial Loan Closing Specialist
About The Position
The Senior Commercial Loan Closing Specialist processes and closes Commercial Real Estate and C&I loans, including new loans, renewals, and modifications with varied structures, collateral, rates, and terms. The role ensures each transaction is accurate, complete, high quality, and compliant with the Bank’s loan policy and credit approval requirements. It works closely with Loan Administrators, Portfolio Managers, Relationship Managers, borrowers, legal counsel, and other third parties, with a high concentration of construction and agented transactions. The specialist performs necessary due diligence with minimal supervision, including flood due diligence, review of plan and cost reports, insurance verification, and preparation of pro rata allocations for agented transactions. Information is checked against loan approvals and draft documents to confirm closing conditions have been met. The role coordinates pre-closing and closing activities, prepares funding requests, resolves issues that could delay closing, and completes post-closing steps. It also monitors and clears loan exceptions, helps develop interdepartmental controls and risk-reducing processes, and participates in training and process-improvement initiatives. Additional hours may be required during peak periods to meet service levels. The position is resident, with travel of less than 25%.
Requirements
- Minimum 7–10 years of experience, including 5 years in bank operations processing, loan closings, or related experience.
- Commercial Real Estate experience.
- Demonstrated knowledge of loan documentation and lending regulations.
- Ability to effectively interface with customers, internal and external counsel, compliance, credit, title companies, inspectors, insurance companies, and other external contacts.
- Strong follow-up skills and the ability to prioritize tasks effectively.
- Ability to work additional hours during peak periods to meet service levels.
- Bachelor’s degree in Accounting, Business Administration, or Finance is listed under education.
Nice To Haves
- Post-secondary degree preferred.
Responsibilities
- Review complex loan documents and initiate and lead closing calls with internal and external deal-team members and counsel.
- Ensure loan documentation accurately reflects the credit approval.
- Facilitate teamwork and continuity among transaction participants.
- Pursue new knowledge to perform effectively in the role.
- Prepare funding requests and ensure funding information is accurate and complete for timely closings.
- Ensure transactions comply with Bank loan policy and other requirements specified in the credit approval.
- Work with Relationship Managers and Underwriters to understand transactions and obtain relevant documentation for timely closings.
- Coordinate pre-closing requirements with internal and external clients, including Underwriters, Relationship Managers, the Syndication Desk, borrowers, and lenders.
- Balance regulatory and policy requirements when making decisions.
- Ensure Know Your Customer (KYC) requirements are met before closing transactions.
- Resolve issues that might impede closing and involve management or internal counsel when appropriate.
- Complete post-closing steps to ensure downstream partners receive all necessary documentation.
- Monitor and clear loan exceptions.
- Develop, design, and follow interdepartmental controls and risk-reduction processes.
- Accept change and engage with the team and relevant stakeholders.
- Participate in training and process-improvement initiatives.
- Perform due diligence for construction and agented transactions, including flood due diligence, review of plan and cost reports, insurance verification, and preparation of pro rata allocations.
Benefits
- Medical, dental, and vision coverage may be included in the benefits package.
- Life insurance, critical illness insurance, and accident insurance may be included in the benefits package.
- Disability benefits may be included in the benefits package.
- Retirement savings may be included in the benefits package.
- Paid time off, including vacation, holidays, and sick leave, may be included in the benefits package.
- Parental leave may be included in the benefits package.
- Additional compensation may include cash or equity, discretionary bonuses, or commissions.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
