Loan Closing Manager at Unity Bank in Clinton, NJ

Position Summary

The Loan Closing Manager prepares commercial and SBA loan documents for loan closings. The incumbent works with credit analysts, loan officers, and attorneys to ensure that loans are documented accurately and that all required documents are executed and packaged for submission to the loan operations department for booking. In addition, the loan closing manager manages the work of subordinate team members.

Essential Functions

• Coordinate loan closings with analysts and bank attorneys.
• Examine documents and verify accuracy of borrower information in the file.
• Assemble all documents essential for loan closing including the Flood Certification, Title Commitment, UCC and property searches, and commercial insurance policies.
• Verify use of proceeds and disburse loan according to approval.
• Assemble and verify accuracy and completeness of loan documentation in compliance with Bank policy and relevant laws and regulations.
• Ensure that loan files contain documents with proper signatures, dates, and other relevant data.
• Confirm and maintain evidence of hazard and liability insurance.
• Maintain document tracking system and follow up to ensure collateral is properly perfected.
• Follow up with legal representative on attorney-closed loans to ensure receipt of recorded documents.
• File and maintain UCC financing statements and other legal documentation.
• Enter loans into real estate tax system when appropriate.
• Control disbursements for construction and multi-disbursements loans.
• Prepare loan documents and facilitate closing of in-house commercial and SBA loans.
• Prepare loan documentation for requests in change of terms, modification, subordination of or substitution of collateral for institution's portfolio.
• Release collateral for paid loans.
• Review loans on a quarterly basis for adherence to laws and regulations in conjunction with the institution's Compliance Monitoring Program.
• Communicate with customers, loan officers, credit analysts, attorneys, and outside vendors to obtain necessary documents to close loans and perfect loan collateral.
• Respond to customer requests regarding loan transactions.
• Cross-sell other products and services as appropriate.
• Manage the work of the loan closing staff, assign specific duties, and ensure adherence to quality standards, deadlines, and proper procedures, correcting errors or problems.
• Provide employees with guidance in handling difficult or complex problems or in resolving escalated complaints or disputes.
• Identify the development needs of staff members; provide coaching and training to help staff members improve their knowledge or skills.
• Evaluate staff members' job performance on an annual basis and recommend appropriate actions.
• Discuss job performance problems with staff members to identify causes and issues and to work on resolving problems.
• Interview and select new employees to fill vacancies.
• Develop and implement departmental policies, procedures, and service standards; interpret and communicate work procedures and Bank policies to staff members.
• Maintain technical and professional knowledge by attending educational workshops, obtaining relevant professional certifications, reviewing professional publications and books, establishing personal networks, participating in professional societies, and staying informed of any legal, policy and procedural changes relating to commercial lending, the legal environment, and documentation.
• Keep informed of industry changes, trends, and best practices, and assess the potential impact on processes and procedures.

Job Requirements and Qualifications

• Job requires strict attention to details and thoroughness in the completion of job duties.
• Job requires thorough analysis of information and use of logic to address complexity of data and information.
• Job requires monitoring and assessing the performance of you, others, and the organization to make improvements or take corrective action.

Education and Experience

• Bachelor's degree or equivalent work experience.
• Three years of experience in commercial real estate lending environment.
• Data base experience.

Knowledge, Skills, and Abilities

• Knowledge of lending practices, policies, procedures, and regulations.
• Knowledge of commercial and SBA loan documentation.
• Excellent computer skills in a Microsoft Windows environment including proficiency in Word and Excel.
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, and percentages. Ability to apply concepts of basic algebra.
• Ability to apply critical thinking to identify the strengths and weaknesses of alternative solutions or approaches to problems.
• Ability to read, analyze, and interpret legal documents, governmental regulations, and professional publications.
• Ability to effectively present information and respond to inquiries from senior management, attorneys, vendors, government agents, and the general public; ability to write reports and business correspondence.
• Ability to speak and write clearly to effectively convey information so that others understand.
• Ability to work independently.
• Ability to provide direct supervision to subordinate staff members.

Compliance

• It is the responsibility of each bank staff member and of management to adhere to policies and procedures designed to implement compliance with the laws and regulations to which the bank is subject. Each bank staff and management member shall be accountable for understanding how compliance with laws and regulations affects the performance of their day-to-day duties, for completing compliance training as assigned and for carrying out those duties in a manner to achieve compliance with those laws and regulations.

All qualified applicants will receive consideration for employment without regard to race, color, age, religion, gender, sexual orientation, gender identity, national origin, protected veteran status or disability.

This job description is not an employment agreement or contract, implied or otherwise. Unity Bank maintains "at will" employment.

This document describes the position currently available. It is intended to convey information essential to understanding the scope of the position and is not an exhaustive list of skills, efforts, duties, responsibilities or working conditions associated with it. Unity Bank reserves the right to modify duties or job descriptions at any time. Nothing in this job description restricts management's right to assign or reassign duties and responsibilities at any time. Individuals may perform other duties as assigned, including work in other functional areas to cover absences or relief, to equalize peak work periods or otherwise balance the workload.

Unity Bank is committed to the principles of equal employment opportunity and prohibits discrimination in hiring, promotion and terms and conditions of employment on the basis of race, creed, color, national origin/nationality, ancestry, religion/religious practices or observances, age, sex, gender identity or expression, affectional or sexual orientation, marital status, civil union status, domestic partnership status, disability or perceived disability, atypical hereditary cellular or blood trait, genetic information, and status as a veteran or disabled veteran of, or liability for service in, the Armed Forces of the United States.

Unity Bank commits to making reasonable accommodation to the known physical or mental limitations of qualified individuals with disabilities and qualified disabled veterans provided the individual is able to perform the essential functions of the job, unless such accommodation would impose an undue hardship upon Unity Bank. A qualified employee or job applicant with a disability may request a reasonable accommodation by contacting Unity Bank's human resources department.