Job Summary Overview
The position is responsible for a vital role to the origination process by coordinating with members, lenders, sales agents, and escrow companies, collaborating cross-functionally to sustain an efficient closing process while adhering to strict deadlines. Responsible for analyzing business loan structures to determine the appropriate due diligence required based on risk, policy and regulatory guidelines. Ensuring loans are documented and funded in accordance with the credit approval and or purchase contract. This position is to provide an excellent member experience both internally and externally while ensuring all compliance requirements are met.
Essential Job Functions
- Reviews and understands complex loan approvals to determine borrower, collateral, guarantor, loan structure requirements, determines due diligence requirements and prepares a closing checklist accordingly.
- Understands, determines and obtains appropriate approval for compliance requirements, such as Commercial Customer Identification Program (CIP), BSA, ECOA, OFAC, etc.
- Communicates proactively with the borrower(s), sales, credit, external partners and 3rd party vendors while ensuring the credit union meets the closing deadlines an expectation of the borrower.
- Orders and reviews third party reports, such as, preliminary title reports, flood certifications, Certificate of Good Standing, UCC searches, site visits, insurance certificates, lien / judgment, Tax Transcripts, and any other required reports as necessary.
- Determines promptly and accurately when underwriting approval conditions have been satisfied or takes appropriate corrective action to resolve discrepancies while escalating questions or disputes to appropriate level when needed.
- Coordinates the closing with all parties concerned including internal and external attorneys (as applicable), title companies, members, relationship manager, and Documentation Specialist to ensure funding deadlines and expectations are met.
o Prepares the loan funding and disbursement by drafting lender’s instructions, reviews settlement statements, completes verbal verification of wiring instructions and balances the loan disbursement with escrow/title.
- Submits the loan file for Quality Assurance Review and resolves any identified discrepancies prior to requesting loan documents be drafted by the Doc Specialist.
- Reviews loan documents to identify and resolve documentation errors such as, dates, vesting, legal descriptions, and other relevant data to ensure accuracy prior to releasing drafts documents to the sales team.
- Manages workload by monitoring the pipeline report and tracking work in progress to ensure internal (SLAs) are met.
- Processes Adverse Actions requests as assigned.
- Reviews executed loan documents to verify signatures, dates, and other relevant data prior to funding and verifies closing conditions are met.
- Organizes electronic files according to Sageworks/Synergy standards and understands the loan origination system.
- Inputs applicable ticklers accordingly prior to boarding and collects trailing post close documents such as, UCC-1 fixture filings, recorded DOT, Subordinations, Leases, final title policies. Sends originals documents to the vault as necessary.
- Enters data and maintains accuracy in commercial loan origination system.
- Ensures all items are filed with centralized documentation system (Synergy).
- Provides guidance and training to Commercial Loan Processor & Closer I’s & II’s.
- Able to perform all responsibilities with minimal supervision and additional duties as assigned.
- Performs other job-related duties as assigned.
Position Required Qualifications
Minimum Education and Experience
High School diploma or GED
7 or more years’ experience in closing commercial loans or 2 years’ experience supporting a volume of 13-18 commercial loan closings per month along with compliance and documentation regulations.
Knowledge, Skills, and Abilities
Professional written, verbal communication, problem solving, and interpersonal skills, along with the ability to produce quality work within tight time frames while managing multiple assignments. Ability to work on core processing systems (Symitar/Silverlake) and department specific processing systems (Sageworks / Laser Pro). Knowledge of Microsoft Office and JHA. Strong work ethic, the ability to prioritize and adapt to changing deadlines, advanced interpersonal skills, excellent communication, and the desire to work as a team to support the overall success of the credit union. Strong knowledge base about conventional policies and procedures.
Preferred Qualifications
Bachelor’s degree or any relevant industry certification.
Sageworks experience.
Licenses, Training, and Certifications Required
None.
Hybrid Work Environment and Physical Demands
- Occasional lifting, 25 pounds or less.
- Sitting and standing for extended periods of time.
- Working on a computer for extended periods of time.
NOTE: The job description is intended to be generic in nature. It is not an exhaustive list of all duties and responsibilities. Requirements listed in the above qualifications and physical requirements are representative of the knowledge, skill, abilities, physical demands, or work environment required or encountered that must be met by an employee to successfully perform each duty and each function of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.
Employees who work from home must have business operational internet to complete work tasks and communicate via video call or chat messaging systems in a dedicated workspace, work environment and, internet.
Job Type: Full-time
Pay: From $28.32 per hour
Benefits:
- 401(k)
- 401(k) matching
- Dental insurance
- Employee assistance program
- Flexible spending account
- Health insurance
- Health savings account
- Life insurance
- Paid time off
- Professional development assistance
- Tuition reimbursement
- Vision insurance
Experience:
- LaserPro: 1 year (Required)
- Commercial Loan closing: 7 years (Required)
Ability to Relocate:
- Phoenix, AZ 85008: Relocate before starting work (Required)
Work Location: Hybrid remote in Phoenix, AZ 85008
