Senior Commercial Loan Documentation Specialist & Closer at Seattle Bank

Seattle, Washington, United States -

Full Time

Start Date

Immediate

Expiry Date

16 Mar, 26

Salary

0.0

Posted On

16 Dec, 25

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Commercial Loan Processing, Loan Documentation, Loan Closing, Title Policy Analysis, Environmental Reports, UCC Filings, Construction Lending, Relationship Management, Mentoring, Organizational Skills, Communication Skills, Finastra Phoenix, LaserPro, Bank Compliance, Project Management

Industry

Banking

Description

Description Who We Are Seattle Bank is a locally owned, digitally driven financial institution that provides personal, business and partner banking services. Our experienced team and open API, cloud-based core technology platform, deliver a boutique bank experience for clients with interwoven personal and business financial needs. Our highly configurable and scalable tech stack also supports partner banking that enables companies to embed banking transactions into their customer online experience. Seattle Bank is a wholly owned subsidiary of Seattle Bancshares, Inc., a privately held bank holding company, and the creator of CD Valet, a digital marketplace for Certificates of Deposit. Position Summary The position of Senior Commercial Loan Documentation Specialist & Closer is responsible for administering the Bank’s commercial and construction loan portfolio by partnering with Relationship Managers, Credit Administration and Loan Operations to process, document, book, fund and service all new commercial and construction loans. Due to the collaborative nature of our company, Seattle Bank requires full-time, in-person work. (One day/week Remote Work is available after 90-day review.) Essential Duties Physically attending work on a set and predictable schedule is an essential function of this job. Prepare loan documentation for all types of loans to include commercial and construction loans while ensuring compliance with the credit approval, policies, laws and regulations. Coordinate complex loan deals, including working in partnership with Relationship Managers, customers, attorneys, appraisers, title representatives and other applicable parties during all phases of the loan closing. Order and review third party reports based on collateral type to include title commitment policy, flood determinations, environmental reports, UCC searches and tax monitoring. Participate in the preflight generation process with the Relationship Managers and Credit Administration to ensure that all documentation requirements are identified before approval. Analyze title commitment reports to identify all required endorsements and ensure compliance with bank guidelines. Coordinate clearing of all title issues/exceptions and prepare detailed title/escrow instructions. Act on items affecting the disbursement process, including change orders, sufficiency of funds, liens, set asides, restricted starts, etc. Board new and renewed loans to the Finastra Phoenix core accurately and timely, disburse loan funds, and maintain organized electronic collateral files. Ensure the bank’s lien position has been accurately and timely perfected and protected through UCC filings, Deed of Trust recordings, and assignment of applicable insurance policies. Manage and monitor loans on an ongoing, day-to-day, and transactional basis working in close partnership with the Relationship Managers, customers and Loan Operations team. Mentor and train junior Loan Administrators. Provide reports and files as needed for Management, Auditors, Regulators and/or the Board of Directors, as necessary. Assist management with special projects related to streamlining workflows, optimizing procedures and ensuring accurate reporting Follows all Bank policies, procedures, compliance regulations and training requirements. Other duties as assigned Requirements Due to the collaborative nature of this position, it requires daily in-person work. [After a 90-day training period, this position allows for one day of work from home each week.] Minimum five (5) years of experience in Commercial processing, preparing loan documents, booking, funding and servicing all types of commercial loans. Minimum five (5) years of experience in reviewing business entity documents for completeness and accuracy. Ability to identify beneficial owners. Bachelor’s degree (BA) or equivalent from a four-year college or university preferred. Ability to analyze & critically review title policies, environmental reports, flood determination reports, insurance requirements, and UCC filings. Strong knowledge and experience generating customized loan documentation in LaserPro, or comparable software, required. Ability to translate repayment terms into system logic when boarding loans to our servicing platform Knowledge of borrowing based lending, construction lending, letters of credit, and multiple collateral properties. Strong organizational skills with the ability to work on multiple projects requiring flexibility with changing priorities and ability to prioritize to meet deadlines. Knowledge of related state and federal banking compliance regulations, bank operational and lending policies and procedures, and the bank's products and services, including applicable lending regulations. Exceptional verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, read, analyze and interpret documents and professional journals, understand procedures, write reports, correspondence and procedures, speak clearly to customers and employees. Proficiency with personal computers and related software packages such as Word and Excel. Excellent organizational and time management skills. Experience with Finastra Phoenix loan servicing platform is preferred. SBA 7(a) or SBA 504 experience is preferred. Seattle Bank Benefits We’re committed to delivering our promise of peace of mind to our clients and fostering a collaborative, inclusive and supportive workplace for our team members. Our comprehensive benefits program for eligible employees includes: Medical/Vision, and Dental insurance Life Insurance, Long Term Disability, Voluntary Life 401K with Bank contribution, Stock Award, and Incentive Opportunity Paid Time Off: Vacation – 3 Weeks Sick Time – 1 hour per 40 hours worked Holidays – 10 days Transportation and fitness benefits And fun, extra perks such as company social events, paid volunteer hours, quarterly incentive awards, and professional development opportunities.

Responsibilities

The Senior Commercial Loan Documentation Specialist & Closer is responsible for administering the Bank’s commercial and construction loan portfolio, processing, documenting, booking, funding, and servicing all new loans. This role involves coordinating with various stakeholders and ensuring compliance with regulations and bank policies.