Commercial Loan Closer

Overview

Commercial Loan Closer – Connect One Bank, Englewood Cliffs, New Jersey, United States. Category:
Accounting/Finance.

Connect One Bank proves that putting people first is a better way to do business. At Connect One, we’re builders — of businesses, communities, and equity. Our mission is to ensure our employees feel empowered to make important decisions, reach their potential and truly make an impact. Connect One is a growth organization by design; it is part of our DNA and we take pride in seeing our employees grow with us.

Founded in 2005, we have grown into a high-performing commercial bank, supporting small business owners by fueling their mission. People First is the blueprint for our culture. Connect One Bank is an Equal Housing and Equal Opportunity Lender, and a member of the Federal Deposit Insurance Corporation.

The Commercial Loan Closer is responsible for the integrity of loan closing, due diligence, documentation, funding, and booking review for assigned loans. The Closer ensures that loan structure and terms conform to the credit approval and bank policies, that all closing requirements have been satisfied, and that all exceptions are identified and appropriately mitigated. The position requires an understanding of policies and procedures as they relate to the lending function.

• Support the Bank’s “People First” focus and rules of engagement—maintaining a professional demeanor, working as an active member of the CNOB team, providing all clients excellent service, and striving to make CNOB “A Better Place to Be.”
• Manage assigned pipeline and process approved loans for closing and funding of new money loans, renewals, extensions, and modifications of various types (e.g., Commercial Real Estate, Multifamily, Construction, C&I, Small Business, Participation & Syndications).
• Develop and maintain internal and external relationships; coordinate activities, decisions, and communications amongst the internal deal team, outside counsel and third parties.
• Responsible for the integrity of loan closings, due diligence, documentation, and compliance (e.g., review of closing documents, completion of closing checklist; ensuring loan structure and terms conform to credit approval and bank policies, pre-closing conditions are satisfied, and exceptions are identified and appropriately mitigated).
• Monitor loan closing pipeline, loan closing target dates, and deadlines; ensure the loan origination system (nCino) is updated and correct at all times.
• Perform quality assurance review of UCC/Federal/State/County preliminary lien searches, title commitments, flood search, appraisal, and environmental reports.
• Perform quality assurance review of insurance certificates to confirm that satisfactory documentation and adequate coverage is in place prior to closing (e.g., property/hazard insurance, liability, builder’s risk, flood & contents).
• Prepare in-house loan documents for certain new loans, modifications, renewals, and/or extensions via Tru Stage (doc-prep platform).
• Perform quality assurance review of organizational documents to confirm compliance with Patriot Act and Beneficial Ownership requirements and identify authorized signers/principals.
• Prepare tax and insurance escrow analysis as required; verify escrow amount to be collected at closing.
• Prepare flow of funds (Closing Letter) for Bank Counsel and review Settlement Statements.
• Confirm wire instructions, obtain required verification and approvals, and enter wires in e-Wire system for review.
• Prepare booking sheet and facilitate the timely booking and funding of scheduled loan closings through Vikar (loan onboarding platform) and the Booking & Administration Team.
• Perform quality assurance review confirming that all loans are closed without material, administrative or compliance exceptions.
• Follow up post-closing to ensure receipt and review of loan closing binders from outside counsel.
• Use judgment to make decisions that are aligned with bank policies and risk tolerance guidelines.
• Proactively identify potential risks and adverse situations that may impact the bank’s interest; communicate and/or appropriately…