Commercial Loan Closing Coordinator II

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How would you like to join one of the most highly regarded financial institutions in New Jersey with deep roots in the community? Provident is a successful and highly regarded multi-billion-dollar bank that continues to grow with branches in New Jersey, Eastern Pennsylvania and New York. Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do. At Provident Bank, we are committed to enhancing our customer and employees' experience.

POSITION OVERVIEW:

This position is considered at the Intermediate level. The position's role is responsible for facilitating document preparation and closing of SBA, Business Banking and Middle Market Loans. Acts as a courteous and beneficial liaison between customers, Relationship Managers and other outside professionals. Job performance is evaluated on accuracy, timeliness, productivity and customer satisfaction.

KEY RESPONSIBILITIES:

• Reviews proposed loan documents for conformance with the loan approval/ commitments.
  • This includes organization of the file, review of the closing documents for accuracy, assuring receipt of all required closing documentation, due diligence and compliance and satisfaction of all closing conditions and covenants. Is responsible for loan set-up including completion of loan input sheets, calculation of required escrows, reserves and prepaid interest, preparation of general ledger debit and credit entries and initiating wire transfers and wire verification.
• Coordinates and acts as a liaison with attorneys, Relationship Managers and other professionals to schedule and ensure the closings takes place in a timely fashion.
• Ensures proper setup of LaserPro prepared documents and attorney prepared documents, which varies from Commercial Loans, CapEx Lines, Lines of Credit, Term Notes and occasionally, CRE construction loans.
• Immediately following all closings, the Closing Administrator coordinates post-closing items with the post closing administrator.
• Responsible for confirming that the loan was properly established on the system by Loan Operations.
• Interacts with lenders and borrowers as to the submission of all required advance documentation.
• Calculates closing advance figures. Reviews thoroughly the loan approval documentation.
• Reviews borrower's requisition for accuracy and compliance with loan approval. Funding the loan documents and confirming fundings; when necessary, coordinate monthly advances with Borrower, inspecting engineer, title company and Relationship Manager.
• Perform all required due diligence for all closings and loan advances; such as confirm interest payments are current and that insurance and tax payments are all current and in good standing.
• Creates and verifies loan closing statements/ with approved closing figures; funding criteria, loan allocations.
• Consistently updates the loan closer reports and/or construction loan reports. Keeps the Lender updated as to the status on each loan in process.
• Reviews Loan documents for required release consideration; issue partial release letters and/or modification documents.
• Maintains the loan files on a current basis at all times; responds to customer inquiries; assists the Relationship Manager; facilitates communications with Loan Operations.
• Post closing follow-up to ensure that all required documentation is received.
• Performs other related duties as required.

MINIMUM QUALIFICATIONS:

• 3 to 5 years of related experience.
• Extensive knowledge of commercial Loan Closings and ability to apply such knowledge.
• Ability to Communicate clearly and effectively in both and written and oral scenarios.
• Proficient with software and systems programs (Microsoft Office). Knowledge of LaserPro document preparation a plus.
• Ability to manage heavy workflow, resolve problems with modest supervision, attend to detail and perform arithmetic calculations.

PREFERRED QUALIFICATIONS:

• High School Diploma or GED required - Bachelor's degree preferred but experience can substitute.

WORKING CONDITIONS

Work is typically performed in an office environment. Noise levels are usually moderate.

HAZARDS

The hazards are mainly those present in a normal office setting.

This may not be all-inclusive. Employees are expected to perform other duties as assigned and directed by management. s and duties may be modified when deemed appropriate by management.

Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.