Commercial & Consumer Loan Closer

Commercial & Consumer Loan Closer

Annual Hiring Salary Range: $65,000 to $80,000

We are pleased to announce that Five Rivers Bank, a recently opened de novo bank located in Northern New Jersey, is already growing.  We have the need for a new Loan Closer.  If you have at least 5 years of recent experience as a commercial and consumer loan closer for a bank, this may be the role for you.  Read on for more information. 

The Loan Closer will manage the full lifecycle of assigned commercial and consumer loan closings, including the performance of all required due diligence, such as ordering background checks and searches on borrowers and guarantors for approved loans, preparing documentation, and reviewing and coordinating the closing and funding of loans. Among other responsibilities, this includes:

• Assisting with the Bank’s loan administration and loan operations function including all aspects related to the closing of commercial and consumer loans through the documentation process, including both direct and attorney loan closings.
• Reviewing Commitment Letters prepared by lenders to assure compliance with credit approval, order appraisals and environmental reports and order required searches on borrowers and guarantors.
• Ensuring all conditions precedent to funding are satisfied in accordance with credit approval and internal policies and requirements.
• Working closely Loan Officers and Credit Analysts to assure all loan closing and documenting policies and protocols are followed, and all required loan closing conditions are met prior to closing.
• Coordinating with internal and external stakeholders including borrowers, legal counsel, third-party vendors, title companies, and escrow agents.
• Identifying and resolving issues that could delay closing or create risk.
• Assisting with the post-closing compliance review function.

To qualify for this role, you must have:

• a 4-year college degree in Business Administration, Finance, Economics or a related field.  Alternatively, combination of applicable education and 5 years of directly related experience is required.

You must have the following experience:

• No less than 5 years of experience in commercial and consumer loan closing that must include:
• Experience in commercial loan participations.
• Experience reviewing and coordinating legal and title documentation.
• Paralegal/law firm experience helpful.

In addition, you should be able to demonstrate:

• Ability to manage multiple transactions under tight timelines.
• Strong organizational, problem-solving, and communication skills.
• Familiarity with closing software and document management systems preferred.
• Excellent written/verbal communication skills.
• Excellent teamwork and customer service skills

EOE