DescriptionSummary: The CRE Loan Closing Specialist Sr. is responsible for initiating and driving the loan closing process, and for the integrity of the loan closing, due diligence, and documentation while managing and expediting complex and concurrent processes and organizing all necessary documentation to finalize complex Commercial Real Estate loan transactions. The CRE Loan Closing Specialist Sr. ensures accuracy, compliance with regulations, and coordinates activities, decisions, and communications with various parties involved, such as lenders, borrowers, legal teams and other third parties. This position involves meticulous attention to detail and a thorough understanding of Commercial Real Estate loan terms including legal concepts, collateral acceptability, and final closing conditions. Expertise in review and interpretation of deal structures and legal documentation along with working through "gray areas" presented is required. Additionally, CRE Loan Closing Specialist Sr. reviews and signs closing documents, ensures the loan structure and terms conform to the credit approval and bank policies, confirms requirements are in place, and identify and appropriately mitigate exceptions to facilitate smooth and timely closing. This position works closely with customers, outside counsel and external consultants, Credit Administration, and Commercial Real Estate partners along with other business segments to deliver outstanding experience to customers and business partners, while carrying out sound risk management practices within a dynamic business development environment.
Duties and Responsibilities: - As a CRE Loan Closing Specialist, Sr., your role involves overseeing and managing the entire commercial loan closing process. Responsibilities include:
- Leadership: Provide leadership and guidance to deal teams, ensuring cohesion and effective collaboration. Mitigates issues/questions being elevated to Management.
- Complex Transactions: Handle intricate and high-value commercial real estate loan transactions, with custom, complex terms and due diligence that involve construction, acquisition, bonds, tax credits, credit derivatives, participations, and syndication transactions etc, demonstrating an advanced understanding of complex financial structures.
- Compliance Oversight: Ensure strict adherence and serve as control point to regulatory requirements (such as Flood and OFAC) and industry standards (such as Construction Monitoring and Specialized business needs) throughout the loan closing process.
- Problem Resolution: Address and resolve complex lending issues that may arise during the closing process, facilitate and collaborate with various stakeholders, communicates and/or escalate risks, pursues corrective action and drives solutions.
- Orders and reviews due diligence such as flood determinations, insurance, title commitments, and other pre-closing items, and coordinates review with respective deal team, outside counsel and other third parties. Prepares closing statements, ensuring all fees are collected (e.g. appraisal fees, commitment fees and other closing fees). Prepares forms necessary to book loan on system of record.
- Responsible for clearing any outstanding post-closing items and collateral exceptions and ensures accuracy of loan and customer information on the system of record; works with Commercial Loan Servicing to resolve errors. Manages closing checklist, certifications, and closing files according to standards.
- Training and Mentoring: Train and mentor junior loan closers, sharing expertise and best practices to enhance the team's overall performance.
- Process Improvement: Identify opportunities to enhance efficiency and effectiveness in the loan closing process, and work with management to implement improvements where needed.
- Client Interaction: Engage with clients, lenders, and legal teams to facilitate smooth and transparent communication throughout the closing stages.
- Risk Management: Assess through critical thinking and mitigate potential risks associated with commercial loan transactions, ensuring the protection of the institution's interests along with that of our fellow colleagues and borrowers.
- Quality Assurance: Implement quality control measures to guarantee the accuracy and completeness of loan documentation.
- Strategic Decision-Making: Participate in strategic decision-making related to commercial loan operations, providing insights and recommendations based on experience and industry knowledge.
- Performs other duties as assigned.
Basic Qualifications: - Bachelor's Degree
- 7+ Years Commercial Loan Closing or Commercial Loan Administration.
- Communication Skills: Effectively communicating with various stakeholders, including lenders, borrowers, and internal and external teams.
Preferred Qualifications :- Detail-Oriented: Meticulously checking details of the Credit Approval and Draft loan documentation to ensure all aspects of the loan closing process are accurate, error-free and comply with policy.
- Time Management: Managing a large complex commercial loan portfolio encompassing multiple tasks and deadlines to ensure timely completion of loan closings.
- Problem-Solving: Identifying, decisioning and resolving issues and discrepancies that may arise during the loan closing process in a proactive and efficient manner through strong critical thinking and analytical skills.
- Partner Collaboration and Category of One Service: Providing excellent service to both internal and external clients throughout the closing process.
- Technical Proficiency: Utilizing loan management software and other tools to streamline processes and maintain accurate records.
- Adaptability: Leading and adapting to changes in procedures, regulations, or industry practices to ensure ongoing effectiveness in the role.
Exempt Status: (Yes = not eligible for overtime pay) (
No = eligible for overtime pay)
Yes
Workplace Type:Office
Our Approach to
Office Workplace Type
Certain positions outside our branch network may be eligible for a flexible work arrangement. We're combining the best of both worlds: in-office and work from home. Our approach enables our teams to deepen connections, maintain a strong community, and do their best work. Remote roles will also have the opportunity to come together in our offices for moments that matter. Specific work arrangements will be provided by the hiring team.
