The Commercial Closing Coordinator is responsible for determining the readiness of a loan for closing, including review of all incoming vendor work, payoffs, and insurance; preparing the closing documents for transactions involving real estate, UCC collateral, stock certificates, brokerage accounts, insurance policies and annuities, lines of credit, and letter of credit, or other transactions requiring customization of documents, loan covenants, or similar circumstances; and scheduling of all applicable closing with an attorney.
Essential Duties & Responsibilities
To perform this position successfully, an individual must be able to perform each essential duty and responsibility satisfactorily.
- Review legal documents on ownership and title of property serving as collateral such as title opinions, title commitment, purchase contacts etc., prior to closing to ensure the Banks’ lien positions is as approved.
- Ensure legal documents correctly identify the collateral, and ensuring all documents with a collateral description are consistent, including mortgages, title documents through easyLender and coordination with attorney or others on third party documents required for closing.
- Prepare closing documents through easyLender and coordination with attorney or others on third party documents required for closing.
- Preform final review prior to closing to ensure the loan is within the terms approved and all documentation is complete.
- Coordinate and schedule the closing with the loan officer and closing attorney.
- Back-up for the markets assigned to other commercial closing coordinator.
- Perform other duties as assigned.
The requirements listed below are representative of the knowledge, skills, and/or abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- General knowledge of bank operations and procedures, in particular loan documents and lending compliance.
- Proficient knowledge of Microsoft Office products and bank information systems.
- General background in financial institution operating policies and procedures and banking regulations including an understanding of financial institution products and services.
- Ability to read and interpret financial documents and information.
- Ability to work with a team and members of other departments of known concepts.
- Ability to communicate orally in order to convey information tactfully and effectively to all levels of employees and customers.
- Ability to give full attention to what other people are saying; taking time to understand points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition and grammar, including the ability to comprehend written sentences and paragraphs in work-related documents.
- Ability to manage time and be efficient and effective in the completion of assignments.
- Ability to establish productive business interpersonal relationships with others inside and outside the organization and to work with little direct supervision in carrying out the responsibilities assigned.
- Ability to work well under pressure.
- Ability to embrace and support the Bank’s management philosophy.
- Ability to perform multiple job functions and tasks with minimum supervision.
- Basic knowledge of mathematics and accounting principles including but not limited to general ledger entries, problem resolution and error detection.
- Demonstrate the ability to meet tight deadlines, promptly address changes without disrupting schedules, and managing high volumes of work.
Physical Demands and Abilities
The physical demands and work environment characteristics described herein are representative of those that must be met by an employee to successfully perform the essential duties of this job. Reasonable accommodation will be made to enable individuals with disabilities to perform the essential functions.
- Ability to listen to and understand information and ideas presented through spoken words and sentences.
- Ability to communicate information and ideas in speaking and writing so others will be able to understand.
- Ability to identify and understand the speech of another person.
- Ability to see details at close range (within a few feet of the observer).
- Ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
- Ability to sit for long periods of time.
- Ability to remain focused and attentive to detail for several hours at a time.
- Ability to demonstrate manual dexterity through use of typing on a keyboard, sorting through paperwork, reaching and grabbing objects.
- Ability to stand, bend, and lift up to 20 pounds.
- Ability to operate standard business equipment such as a fax, computer, printer, copier, etc.
- Ability to look at a computer screen for several hours.
- Ability to travel to other locations if needed.
- Ability to work on a flexible schedule that at times may include late working hours or weekend hours.
Required Education and Experience
- Paralegal certification or Bachelor’s Degree in Accounting, Economics, Finance, Business Administration, or the equivalent combination of education and experience which provides the required skills, knowledge and abilities.
- Minimum of three (3) years of banking in legal office with related loan documentation experience.
- Knowledge of applicable federal and state banking regulations.
- May be required to attend activities outside the bank to stay abreast of new developments, best practices, and statutory and regulatory changes.
- Pursuant to the Drug Free Workplace Act of 1988, all employees must remain drug free and alcohol free when reporting to work and while engaged in any work related activities.
- Must adhere to all Bank Secrecy Act regulations and requirements.
This document and the statements contained within it are intended to describe the general nature and level of work being performed by the employee assigned to this position. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of the employee. A complete job description which outlines qualifications and physical demands and abilities is on file in Human Resources and available upon request.
- Forcht Bank is an Equal Opportunity Employer –