Commercial Loan Closing Officer ; Remote

Overview

SUMMARY: The Commercial Loan Closing Officer (LCO) is responsible for handling all C&I and CRE loan activities including direct, purchased, sold and syndicated deals, including Construction Loans. Activities include: coordinating and executing closing of direct, sold, purchased and syndicated deals by participating in ongoing meetings with the Deal Team (agent banks, participating banks, attorneys, Relationship Managers, Underwriters and Credit Officers); ensuring loan documents accurately reflect approved terms and conditions and are executed in a timely manner;

working with Deal Team to ensure closing conditions outlined in the credit approval are satisfied; working with business partners to ensure closing related fees are received, distributed and applied correctly; ensuring proper setup of complex transactions in loan system by Loan Servicing Team; determining when loan is clear to close and communicating with Deal Team; performing due diligence searches; updating shared document repository deal sites with closing related and post-closing documentation and due diligence;

and generating and disbursing ongoing transactional notices for participant banks.

Note: This is an intermediate-level LCO position assigned to loans that are more complex or require greater independence in closing condition resolution. LCO is empowered to use judgement to determine materiality regarding clearing closing conditions or the need for escalation.

• Pre-Closing and Due Diligence (50% of time) Receives approved CAM packages from Underwriter or Portfolio Manager. Reviews the Approved CAM package for loan closing conditions, appropriate lending authority, and lien perfection requirements. Ensures Complex Transactions are set up in the Loan System correctly and works with the Loan Servicing department to ensure deals are billed correctly to our borrower and participants.
• Coordinates Fees – Working with the deal team (internal partners, agent bank and/or participating banks) to coordinate distribution, receipt of and application of direct, syndication, sold participation and Shared National Credit closing related fees including but not limited to commitment fee, arranger fee, skimming fee and administration fee.
  Conditions to Close – Confirm and satisfy Conditions to Close by completing the Closing Memorandum Worksheet.
• Orders Due Diligence – Orders required due diligence items including credit searches and flood determinations. Confirms receipt of satisfactory due diligence items reviewable as required. Due diligence items include some of but not limited to flood regulation items, hazard and liability insurance certificates, OFAC clearance, beneficial ownership items, environmental reports and appraisal reviews.
• Acts as Liaison with Partners – Interacts with all business partners including line, underwriters/portfolio managers, credit officers, attorneys, 3rd party vendors, etc. to ensure loan closing requirements are understood and satisfied. Satisfies Pre-Closing Conditions – Expedites the prompt and accurate satisfaction of all pre-closing conditions, including calculation of collateral loan-to-value and determining adequacy of insurance coverage. Resolves Non-Credit Deficiencies by taking remedial actions and escalating questions/disputes as needed.
  
  Resolves Credit Related Deficiencies by working closely with the underwriter/portfolio manager and credit officer to obtain approval if needed.
• Loan Documentation (20% of time) – Engages with Attorney (outside counsel selected from the Bank's Approved Attorney List) to prepare loan documents. Reviews loan documents thoroughly to ensure they reflect the loan as approved and protect the Bank's interests. Participates in document uploads for syndicated deals to the shared document repository. Ensures rate options are properly documented to capture borrowing options in a way the loan system can accommodate.
• Finalizes Loan Documents – Facilitates the loan document review process with Bank's Counsel, RM and Deal Team, and determines when the loan documents are finalized and ready for customer signing.
• Closing and Funding (15% of…