Firestone Financial Corp.
Job Description

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Job Title: Loan Closing Specialist 
Department:  Operations
Reports To: Manager of Loan and Title Administration
FLSA Status: Exempt

Overall Responsibilities

Specific Duties & Responsibilities  

1. Responsible for coordination of loan documentation, funding, and closing processes for moderately complex to complex transactions.
   
2. Communicates progress to and manages expectations of applicant/borrower, financing channel provider, and equipment suppliers and vendors.  Acts as Company’s customer service liaison from post-credit-approval through final loan booking for specific transactions assigned. Identifies and provides prescribed resolution to problems or inconsistencies throughout the closing process.
   
3. Works in team environment with direction from product line Sales Executives to manage pipeline and priorities. Implements new customer programs designed to increase, enhance close business for the Company.
   
4. Responsible for the comprehensive gathering of all necessary information needed for the documentation, processing and closing of moderately complex to complex loans in a timely, accurate and professional manner according to Company credit policy, regulatory guidelines and legal requirements.  Ensures that all credit committee funding pre-conditions are met. Depending upon type of transaction, documents may include promissory notes, guaranties, assignments, security agreements, UCC filings, intercreditor agreements, loan participation agreements, subordination agreements, side letters, landlord waiver and consents, escrow agreements, certificates of insurance, titles, lien releases, etcQualifications.
   
5. Reviews and revises templated legal documents for specific loan covenants and other non-standard deal terms in conformance with credit approval, policies, procedures, regulations, and legal documentation requirements to mitigate operational, administrative, and documentation risk as appropriate. Responsible to rectify any inaccuracies or exceptions.
   
6. Enlists and coordinates assistance from Senior Closing Specialist and Manager of Loan and Title Administration where appropriate to advise on specific transaction issues pertaining to transaction documentation or closing.
   
7. Completes pre-closing activities associated with moderately complex to complex loans, renewals, and modifications. Reviews documentation package and other customer information to ensure compliance with all funding requirements. Coordinates with sales staff and credit staff to address deficiencies.
   
8. Approves or denies loan proceeds disbursement within authorized limits.  Maintains control of proper disbursement via wires, ACH or DDA accounts.  Provides complete and quality data for accurate loan booking and servicing.
   
9. Ensure that all post-funding exceptions are received on a prompt and timely basis. Responsible for correction of inconsistencies and monitors resolutions.
   
10. Assists Manager of Loan and Title Administration with preparation of new loan documentation templates and new workbooks for loan structuring and booking based on Company needs and promotional finance offerings. Maintains integrity of templates, workbooks and all files in documentation library. Prepares written instructions on objectives and use of templates and other institutional tools.
    
11. Upholds data input quality in all Company systems to affect timely underwriting, contract structuring and documentation, and contract processing and funding, and to minimize negative impact on the applicants/borrowers or the Company. Continuously monitors work to ensure quality and looks for ways to improve and promote quality.
    
12. Ensures the security and confidentiality of private customer information. Protects against unauthorized access to or use of customer information that could result in harm or inconvenience to customer.
    
13. Makes process improvements with technology and best practices. Performs research and identifies opportunities for new system tools.  Assists Senior Closing Specialist and Manager of Loan and Title Administration in developing and updating department standard operating procedures.
    
14. Other duties as required

Qualifications

1. Bachelor’s degree in finance, economics, or business administration. Paralegal certificate or business law concentration a plus.
   
2. 2+ years of loan processing, closing or funding experience in a commercial lending and/or leasing environment required. Knowledge of commercial loan covenants required.
   
3. Demonstrated expertise in real estate or equipment finance industry including lending policies, practices, procedures, loan structuring and documentation, deal closing, and full regulatory awareness. In-depth knowledge of loan underwriting systems, combined with the ability to read and analyze a loan file.
   
4. Excellent oral and written communication skills, math and analytical skills, as well as sound knowledge of loan policy, compliance, loan operations, and quality customer service.
   
5. Demonstrated understanding of the financial mathematics involved in discounted cash flow analysis, (internal rate of return, net present value, etc.) preferred.
   
6. Customer service and detail-oriented, with strong organization, interpersonal, prioritization, leadership, conflict resolution, problem-solving, time management, project management and follow-up skills.
   
7. Strong quality tracking, analytical, and reporting skills required.
   
8. Track record of being able to spot existing and potential issues and recognize the legal, transactional, and business implications of existing and omitted document content.
   
9. Ability to multi-task, make decisions, manage to tight deadlines, and display positive attitude in a high volume, fast-paced environment.
   
10. Proficiency in Microsoft Office programs such as Word, Excel and Access.
    
11. Pursues training and development opportunities; strives to continuously build knowledge and skills.

 

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Firestone Financial Corp. is an Equal Opportunity Employer. This company does not and will not discriminate in employment and personnel practices on the basis of race, color, sex, age, handicap, religion, national origin, marital status, sexual orientation, or any other basis prohibited by applicable law. This policy governs all areas of employment at Firestone Financial Corp., including recruitment, hiring, training, transfers, promotions, compensation, benefits, discipline and terminations.