INDUSTRY CLOSING MANAGER - Fund FinanceWHAT IS THE OPPORTUNITY?
The Industry Closing Manager (ICM) is a key
individual contributor of the closing process and client team.
- The Industry Closing Manager (ICM) is an individual contributor in the closing of the deal and a key member of the client team.
- Manage the due diligence and closing process for complex commercial lending transactions, including reviewing and analyzing sophisticated loan, security, and other legal agreements to identify closing requirements, key terms, conditions precedent, and information that must be communicated to the client team and other internal partners.
- The ICM will coordinate directly with outside counsel and the client team regarding documentation, outstanding requirements, and other matters necessary to move the financing and closing process through successful closing and funding.
- Serve as the primary closing contact for outside counsel, the client team, and internal partners in a highly dynamic, transaction-intensive, and deadline-driven environment.
- The ICM must be able to manage multiple complex transactions and competing priorities simultaneously while maintaining accuracy, sound judgment, responsiveness, and a high level of service.
- Support complex financings involving sophisticated institutional borrowers, including large private equity firms, asset managers, and other complex commercial organizations, requiring a strong understanding of each transaction's structure and closing requirements.
- Directly manage the activities of the Loan Closing Specialists, assisting with the closing of transactions and providing guidance and direction throughout the closing process. Work with Relationship Managers, Credit Products, Legal Counsel, and other internal partners to review legal documentation and confirm that credit approval terms, closing conditions, and operational requirements are accurately reflected and satisfied.
- Be accountable and responsible for issuing "Clear to Close" to confirm that all required conditions have been satisfied prior to execution of legal documents to allow funding to commence. "Clear to Close" is a critical control within the Wholesale Bank and an important component of the Bank's overall control environment.
- Play a key role in supporting a positive onboarding and closing experience for our clients, while ensuring adherence to Bank policies, procedures and controls.
WHAT WILL YOU DO?
- Partner with the client team and other internal stakeholders throughout the closing process to coordinate requirements, resolve outstanding items, and support the timely and accurate closing of complex commercial lending transactions.
- Manage and provide direction to the Loan Closing Specialists supporting ICM responsibilities, including prioritizing workflow, providing guidance on closing requirements and escalating transaction-related issues, as appropriate.
- Review closing checklists, credit approvals, loan documentation, and other transaction requirements to confirm all applicable conditions precedent and closing requirements have been satisfied prior to closing.
- Manage and communicate closing timelines, key milestones, outstanding requirements, and transaction status with the client team, Credit Products, Legal Counsel and other internal partners.
- Determine whether internal documentation or attorney-prepared documentation is appropriate based on the structure and complexity of the transaction, and engage and coordinate with outside counsel when required.
- Review and analyze loan, security, and other legal documentation to identify key terms, closing conditions, operational requirements, and potential documentation issues requiring resolution or escalation.
- Manage legal invoices and related expenses, as applicable, including reviewing and approving expenses in accordance with established procedures and authority.
- Issue the "Clear to Close" after confirming that all required credit, legal, operational, and documentation conditions have been satisfied, and the transaction is ready to proceed to closing and funding.
- Identify, document, and appropriately approve or escalate exceptions, including trailing or missing documentation, in accordance with Bank policies, procedures and established authority.
- Coordinate with Funding & Boarding and other operational partners prior to closing to ensure funding instructions, transaction terms, and boarding requirements are complete and accurately communicated.
- Conduct post-boarding reviews and work closely with post-close and operational teams to identify and resolve discrepancies, documentation issues, or other outstanding transaction requirements.
WHAT DO YOU NEED TO SUCCEED?
Required Qualifications*- Bachelor's Degree or equivalent
- Minimum 10 years experience in Fund Finance required.
Additional Qualifications- Previous Management experience is preferred
- Previous experience as a Paralegal or part of Law Firm is preferred.
- Client facing presence and experience
- Project Management skills, ability to prioritize tasks and adapt to changing priorities
- Organizational and time management skills
- Recommended experience: Prior closing experience, paralegal (i.e., understand legal language and docs), commercial credit experience or understanding of experience
- Understanding of bank policies and procedures relating to the satisfaction of loan closing conditions, documents, and services
- Demonstrated experience interpreting complex loan, security and related legal agreements to identify key busines and operational terms, recognize potential issues or inconsistencies, and communicate critical requirements to Legal Counsel and/or Loan Operations to support accurate loan setup and ongoing servicing.
WHAT'S IN IT FOR YOU?CompensationStarting base salary: $44.28 - $75.42 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
Benefits and PerksAt City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues including:
- Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
- Generous 401(k) company matching contribution
- Career Development through Tuition Reimbursement and other internal upskilling and training resources
- Valued Time Away benefits including vacation, sick and volunteer time
- Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
- Career Mobility support from a dedicated recruitment team
- Colleague Resource Groups to support networking and community engagement
Get a more detailed look at our Benefits and Perks.
*Represents basic qualifications for the position. To be considered for this position, you must at least meet the required qualifications. careers.cnb.com accepts applications on an ongoing basis, until filled.
Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.
