CLCLRSR-Sr Comm Loan Closer
First Midwest, with assets over $20 billion, is the premier relationship-based banking franchise in the dynamic Chicagoland banking market. As one of the Chicago metropolitan area's largest independent bank holding companies, First Midwest provides the full range of commercial, retail banking, and wealth management services through some 120
offices located in communities in metropolitan Chicago, Northwest Indiana, Central and Western Illinois, Eastern Iowa, and Southeast Wisconsin.
POSITION
Summary:
Facilitates the loan closing process, while providing high quality customer service. Coordinates preparation of loan documents and ensures that documents are reviewed against the credit approval while complying with Bank Policy and Federal Regulations. Reviews and gathers all due diligence and establishes that all compliance requirements are met prior to close. Makes decisions, recommendations and provides guidance to Relationship Managers for additional documentation as applicable. Ability to work on complex loan closings transactions involving attorney prepared documentation, specialized lending, commercial real estate and participations/syndications. Prepares documents for all pre-approved attorney template documents for approved loan types. Provides ongoing feedback to Management, ensuring all issues are properly escalated. Works and communicates with Customers, Relationship Managers, Underwriters, Attorneys and other third parties (title companies, appraisers, etc.) to ensure that all commercial loan transactions are processed and documented in accordance with the terms and structure approved by FMB Credit Administration Policies. Provides problem resolution and service to internal and external customers. Performs analysis and research necessary to provide accurate and timely responses to client requests. Trains and mentors junior commercial closers. Assists Management as requested.
REQUIRED EDUCATION, EXPERIENCE AND SKILLS:
- Degree in Business Administration, Para-legal certification or equivalent work experience.
- Minimum of 1-2 years of leadership experience.
- Minimum of 7-10 years of commercial documentation experience.
- Minimum of 2-4 years of complex loan document review experience.
- Minimum of 3 years of LaserPro experience.
- Excellent leadership skills and excels in verbal and written communication with the ability to effectively partner with the team, other operational teams and the lines of business.
- Banking-related classes/on-line training required:
Banking Law, Consumer Compliance and Secured Lending and Loan Documentation. - Additional banking-related classes/seminars preferred:
accounting, real estate, agricultural lending, trust, Regulatory compliance. - Excellent written and verbal communication skills.
- Strong knowledge of bank policy and federal regulations, including Article 9 of the Uniform Commercial Code.
- Detail oriented with good organizational skills with the ability to multi-task.
- Self-starter with ability to manage production.
- Position requires the need to work varied hours/days including occasional overtime as business dictates. Position may require the need to travel to other branch or meeting locations.
DUTIES/
Responsibilities:
- Analyze, review and structure complex commercial loan documentation, supporting documentation and due diligence, to ensure that all loan documents are:
- Complete and reviewed for accuracy. Communicate with the Relationship Manager and Attorney regarding identified discrepancies between the loan documents and the credit approval.
- In compliance with Federal Regulations
- Compliant with terms and conditions as approved by the appropriate lending body
- In adherence to FMB Credit Administration Policies prior to the disbursement of loan proceeds
- Identify and report loan document exceptions appropriately
- Direct communication with customers to obtain required due diligence and answer all inquiries in a timely manner.
- Order, obtain, and analyze all pertinent applicant/borrower, property/collateral, and documentation information and verifications related to the processing of complex commercial loan transactions.
- Perform data entry of required loan information into the CME platform prior to ordering LaserPro documents.
- Schedule and facilitate loan closings. This includes working and communicating with customers, relationship managers, appraisers, attorneys, title company personnel and various other vendors to close every type of commercial loan in a timely manner.
- Follow up on paid off loans to assure releases are prepared and FMB s lien position is verified.
- Collect good faith deposits.
- Provide feedback to Management regarding the performance of the junior commercial loan closers.
- Assist the Commercial Loan Closing Manager in identifying and implementing process efficiencies and controls. Assist with the review and updating of department procedures and process maps.
- Assist the lending staff with the structuring of commercial loan packages.
- Assist in training of new staff to assure department policies/procedures are being followed.
- Maintain adequate controls to ensure compliance with all Federal Regulations in defined area of responsibilities.
- Implement bank-directed policy changes relating to regulatory amendments.
- Provide outstanding customer service, teamwork and display a positive attitude at all times.
- Maintain outstanding quality service by meeting and/or exceeding established service level agreements.
- Able to work with various software programs (i.e.:
FIS, Word, Excel, Laser Pro, OnBase, CRIF ACTion, CME, exception tracking systems, Loan IQ, etc.). - Perform all other duties as assigned.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
Please view Equal Employment Opportunity Posters provided by OFCCP here and Supplement here.
Estimated Salary: $20 to $28 per hour based on qualifications.
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