Fifth Third Bank, N.A.
Commercial Loan Closing Specialist
Fifth Third Bank, N.A., Cincinnati, Ohio, United States, 45208
Overview
Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank. 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. Accountability for risk includes openly exchanging ideas and opinions, elevating concerns, and following policies and procedures. Strives to do the right thing for customers and colleagues, and ensures actions and behaviors drive a positive customer experience. Works within the Bank\'s risk appetite to identify, assess, manage, monitor and report risks of all types. Responsibilities
Receives, reviews, and analyzes draft and final credit approval/credit memo from underwriter or portfolio manager and determines due diligence requirements. Analyzes and interprets the loan approval to determine borrower, collateral, guarantor and loan requirements. Control point to confirm evidence of sufficient lending authority obtained on the credit approval. Manages workload by monitoring newly received loans as well as tracking work in process. 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 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. Ensures adherence to the Bank\'s risk tolerance or escalates appropriately. 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. Determines closing date expectations and advises sales and credit of obstacles that may impede meeting client expectations. Coordinates efforts to establish the closing date and time with all parties concerned including internal and external attorneys, title companies, external customer and relationship manager or financial center manager. Coordinates efforts to engage and finalize preparation of loan documents by internal and external counsel in a timely manner. Reviews loan documents and identifies/resolves shortfalls to ensure alignment with the deal structure and credit approval. Understands all business entity structures and obtains/reviews entity documents to determine authorized parties that can bind the entity to the loan transaction. Proactively contacts customers directly to obtain required documentation and when facilitating closing date/times, when applicable. Collaboratively works with and shares knowledge with internal partners and divisions. Understands, determines and obtains appropriate approval for compliance requirements, such as CIP, Reg. U, consumer purpose, Flood, etc. Understands and makes determination of appropriate loan coding needed for portfolio and Regulatory reporting purposes, such as loan purpose, collateral type, obligation type, etc. Demonstrates and appropriately applies a working knowledge of diverse commercial loan documentation, Legal & Regulatory requirements and applicable policies and procedures. Obtains and understands all funding information and creates and/or reviews the settlement statement providing direction for the disbursement of loan proceeds. For internally prepared loans, ensures all due diligence is completed, final credit approval is received, and all policies and regulations are met. Notifies relevant parties of due diligence complete status and coordinates document preparation for closing as applicable. Works directly with outside counsel on externally prepared commercial loan documentation, reviewing all loan documentation and confirming all due diligence items are addressed by bank or attorney, if applicable. Provides guidance and support to business partners to meet the needs of external customers. Able to coach business partners on retail business banking and commercial lending loan closing process. Interacts and communicates daily with all levels, including financial center employees, supporting business units, relationship managers, credit, underwriters, document preparation, title companies, third parties and attorneys to ensure smooth closing processes. Ensures all individual and departmental goals and service level agreements (SLAs) are met. Stays current with and applies credit policy and procedures to all transactions to mitigate risk to the Bank. Reviews loan accounting system and identifies discrepancies between system structure and credit approval structure and works with credit to resolve. Other duties as assigned. Qualifications
2 years of commercial banking/commercial real estate loan experience with a focus on due diligence and loan documentation. High school diploma or equivalent. Bachelor\'s degree preferred. Strong time management and organizational skills evidenced in previous assignments. Understanding of applicable bank policies and procedures as they pertain to loan closing conditions and vendor documents/services. Strong knowledge of vendor documents: title work, appraisals, flood determinations, lien searches. Strong knowledge of loan documents and requirements; strong knowledge of commercial lending and loans. Thorough understanding of all business banking and commercial loan products and credit policy/guidelines. Thorough knowledge of loan documentation, collateral evaluation, lien perfection, and regulatory requirements. Strong PC skills with Microsoft Excel, Word, and email. Self-starter and works with minimal direction. Strong verbal and written communication, negotiation and interpersonal skills. Ability to meet deadlines under pressure and escalate issues as needed. Location: Rosemont, Illinois 60018 Equal employment opportunity statement: Fifth Third Bank is an equal opportunity employer and does not discriminate on the basis of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
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Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank. 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. Accountability for risk includes openly exchanging ideas and opinions, elevating concerns, and following policies and procedures. Strives to do the right thing for customers and colleagues, and ensures actions and behaviors drive a positive customer experience. Works within the Bank\'s risk appetite to identify, assess, manage, monitor and report risks of all types. Responsibilities
Receives, reviews, and analyzes draft and final credit approval/credit memo from underwriter or portfolio manager and determines due diligence requirements. Analyzes and interprets the loan approval to determine borrower, collateral, guarantor and loan requirements. Control point to confirm evidence of sufficient lending authority obtained on the credit approval. Manages workload by monitoring newly received loans as well as tracking work in process. 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 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. Ensures adherence to the Bank\'s risk tolerance or escalates appropriately. 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. Determines closing date expectations and advises sales and credit of obstacles that may impede meeting client expectations. Coordinates efforts to establish the closing date and time with all parties concerned including internal and external attorneys, title companies, external customer and relationship manager or financial center manager. Coordinates efforts to engage and finalize preparation of loan documents by internal and external counsel in a timely manner. Reviews loan documents and identifies/resolves shortfalls to ensure alignment with the deal structure and credit approval. Understands all business entity structures and obtains/reviews entity documents to determine authorized parties that can bind the entity to the loan transaction. Proactively contacts customers directly to obtain required documentation and when facilitating closing date/times, when applicable. Collaboratively works with and shares knowledge with internal partners and divisions. Understands, determines and obtains appropriate approval for compliance requirements, such as CIP, Reg. U, consumer purpose, Flood, etc. Understands and makes determination of appropriate loan coding needed for portfolio and Regulatory reporting purposes, such as loan purpose, collateral type, obligation type, etc. Demonstrates and appropriately applies a working knowledge of diverse commercial loan documentation, Legal & Regulatory requirements and applicable policies and procedures. Obtains and understands all funding information and creates and/or reviews the settlement statement providing direction for the disbursement of loan proceeds. For internally prepared loans, ensures all due diligence is completed, final credit approval is received, and all policies and regulations are met. Notifies relevant parties of due diligence complete status and coordinates document preparation for closing as applicable. Works directly with outside counsel on externally prepared commercial loan documentation, reviewing all loan documentation and confirming all due diligence items are addressed by bank or attorney, if applicable. Provides guidance and support to business partners to meet the needs of external customers. Able to coach business partners on retail business banking and commercial lending loan closing process. Interacts and communicates daily with all levels, including financial center employees, supporting business units, relationship managers, credit, underwriters, document preparation, title companies, third parties and attorneys to ensure smooth closing processes. Ensures all individual and departmental goals and service level agreements (SLAs) are met. Stays current with and applies credit policy and procedures to all transactions to mitigate risk to the Bank. Reviews loan accounting system and identifies discrepancies between system structure and credit approval structure and works with credit to resolve. Other duties as assigned. Qualifications
2 years of commercial banking/commercial real estate loan experience with a focus on due diligence and loan documentation. High school diploma or equivalent. Bachelor\'s degree preferred. Strong time management and organizational skills evidenced in previous assignments. Understanding of applicable bank policies and procedures as they pertain to loan closing conditions and vendor documents/services. Strong knowledge of vendor documents: title work, appraisals, flood determinations, lien searches. Strong knowledge of loan documents and requirements; strong knowledge of commercial lending and loans. Thorough understanding of all business banking and commercial loan products and credit policy/guidelines. Thorough knowledge of loan documentation, collateral evaluation, lien perfection, and regulatory requirements. Strong PC skills with Microsoft Excel, Word, and email. Self-starter and works with minimal direction. Strong verbal and written communication, negotiation and interpersonal skills. Ability to meet deadlines under pressure and escalate issues as needed. Location: Rosemont, Illinois 60018 Equal employment opportunity statement: Fifth Third Bank is an equal opportunity employer and does not discriminate on the basis of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
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