Commercial Loan Closing Specialist

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General Function

Responsible for the determination of requirements, review, analysis and completion of all due diligence associated with the commercial loan documentation and closing process. This includes the satisfaction of credit approval conditions prior to the preparation of commercial loan documentation. These responsibilities include identifying, requesting, reviewing and critical interpretation of all 3rd party provided documents needed to grant the "clear to close". This also includes coordinating the efforts to prepare commercial loan documentation for all commercial loans including real estate and non-real estate secured loans. Communicates proactively with sales, credit, external customers and 3rd party vendors ensuring the bank meets the closing date and time expectations of the borrower. Under minimal supervision, uses established guidelines to receive and review vendor documents. Clear liens and credit conditions and confirms loan to value ratios for a moderately complex line of loan product

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Essential Duties And Responsibilities

• Ensures adherence to the Bank's risk tolerance or escalates appropriately.
• Understands and makes determination of appropriate loan coding needed for portfolio and Regulatory reporting purposes, such as loan purpose, collateral type, obligation type, etc.
• Understands all business entity structures and obtains/reviews entity documents to determine authorized parties that can bind the entity to the loan transaction.
• Promptly and accurately determines when all underwriting approval conditions for the loan closing have been satisfied. Takes appropriate remedial actions to Resolve deficiencies and Escalates questions/disputes to appropriate level when necessary.
• Reviews loan documents and identifies/resolves shortfalls to insure alignment with the deal structure and credit approval.
• Reviews appropriate loan accounting system and Identifies discrepancies between system structure and credit approval structure and works with credit to resolve.
• Manages workload by monitoring newly received loans as well as tracking work in process.
• Obtains and Understands all funding information and creates and/or reviews the settlement Statement providing direction for the disbursement of loan proceeds.
• Coordinates efforts to establish the closing date and time with all parties concerned including internal and external attorneys (as applicable), title companies, external customer and relationship manager or financial center manager.
• Control point to confirm evidence of sufficient lending authority obtained on the credit approval.
• Works directly with outside counsel on externally prepared commercial loan documentation, acting on the bank's behalf to review all loan documentation and confirms all due diligence items are addressed by bank or attorney, if applicable.
• Determines closing date expectations and advises sales and credit of obstacles that May impede meeting client expectations.
• Provides guidance and Support to business Partners in order to Meet the needs of external customers.
• Orders and/or interprets supplemental vendor due diligence information to ensure borrower, collateral and guarantor requirements are met and ensures production of appropriate documentation in compliance with all terms of the loan request such as:title commitment / title search,UCC (Uniform Commercial Code) search, evaluation or real estate appraisal, environmental questionnaire, RSRA/Transaction Screens or evaluation (phase I/II), flood determination and other regulatory or compliance items, proof of insurance documents, survey, and entity documents.
• Demonstrates and appropriately applies a working knowledge of diverse commercial loan documentation, Legal & Regulatory requirements (including unique state regulations), policies and procedures, and applies that knowledge.
• Understands, determines and obtains appropriate Approval for compliance requirements, such as commercial customer identification Program (CIP), Reg. U, consumer purpose, Flood, etc.
• Ensures all individual and departmental goals and service level agreements (SLAs) are met.
• Proactively contacts customers directly to obtain required documentation and when facilitating closing date/times, when applicable.
• For internally prepared loans, makes the final determination that all due diligence has been completed, final credit approval has been received, all policies and regulations have been met. Upon this determination, notifies sales, credit, title company, etc. of due diligence complete status and requests document preparation for the loan closing for attorney prepared loans, makes the final determination that all due diligence has been completed, final credit approval has been received, all closing conditions, policies and regulations have been met. Upon this determination, notifies sales, credit, title company, outside counsel, etc. of authorization to close the transaction. The loan closing cannot occur without this final LCS decision.
• Collaboratively works with and shares knowledge with internal partners and divisions.
• Stays current with and applies credit policy and procedures to all transactions to mitigate risk to the Bank.
• Other duties as assigned.
• Interacts and communicates daily with all levels, including financial center employees, supporting business unites, relationship managers, credit, underwriters, document preparation, REVG, title companies, 3rd parties, attorneys, flood vendors to ensure
• Analyzes and interprets the loan approval to determine borrower, collateral, guarantor and loan requirements.
• Receives Reviews and analyzes draft and final credit approval/credit memo from underwriter or portfolio manager and determines due diligence requirements.
• Able to coach business Partners on the Retail business banking and commercial lending loan closing Process.
• Coordinates efforts to engage and finalize preparation of loan documents by internal and external counsel in a timely manner.

Minimum Knowledge, Skills And Abilities Required

• Strong time management and organizational skills evidenced in Previous assignments.
• Thorough knowledge of business banking and commercial lending credit policy/Guidelines.
• Strong verbal and written communication skills.
• Strong personal computer skills with Demonstrated knowledge of Microsoft Excel, Word, and email.
• Thorough knowledge of B2B, CCAS, AFS, RIMS, CHQ, loan Doc Prep system (or equivalent vendor systems), and other banking systems preferred.
• Song knowledge of commercial lending and loans.
• Ability to Meet deadlines under pressure.
• Self-starter and Works with minimal direction.
• 2 years experience with a focus on due diligence, loan documentation, or related work experience. Commercial loan experience preferred.
• Thorough understanding of all business banking and commercial loan products.
• Strong negotiation skills.
• Strong interpersonal skills and team orientation.
• High school diploma or equivalent. Bachelors degree preferred.
• Ability to appropriately escalate issues requiring problem solving and decision making.
• Strong knowledge of loan documents and requirements.
• Thorough knowledge of loan documentation, collateral evaluation, Lien Perfection, local, state and Federal Regulatory requirements.
• Strong knowledge of most common vendor documents title work, appraisals, flood determinations, lien searches.
• Demonstrates an understanding of applicable bank policies and procedures as they pertain to the satisfaction of loan closing conditions as well as vendor documents and services.

Commercial Loan Closing Specialist

LOCATION -- Cincinnati, Ohio 45227

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.