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Commercial Loan Documentation Specialist III

Company: West Suburban Bank
Location: Lombard
Posted on: May 18, 2020

Job Description:

Commercial Loan Documentation Specialist IIIUS-IL-LombardJob ID: 2019-3931Type: Regular Full-Time# of Openings: 1Category: Lending - CommercialCommercial LoansResponsibilities Summary: The senior Documentation Specialists are responsible for the preparation of documentation of more complex loan transactions. They must validate that all necessary information has been collected and addressed, or correct data as necessary. They will work closely with the lender, credit dept., or closing specialist on the deal structure and will follow up on re-approvals as needed. Essential Functions:Reasonable accommodations may be made to enable individuals with disabilities to perform the following essential functions.

Validates that all necessary information has been gathered by the Closing Specialists and provided to doc prep for each loan transaction assigned for doc prepPerforms a review of the documentation received from the Closing Specialist, ensuring accuracy of the data as well as compliance to any federal regulations, the bank's credit policy and the banks underwriting guidelinesEnsures that all conditions have been met per the credit approval, creates instructions for the boarding area to capture any pre-funding conditions or post-closing follow-up tickler items as needed.Responsible for identifying and addressing any missing items. Makes recommendations for corrective action or requests additional documentation deemed necessary to the transaction in order to minimize potential documentary discrepancies or risk to the bankCollaborates with the lender, credit department, and/or Loan Closing Specialist on the deal structure. Consults management to resolve issues or to seek approval for exceptions or waiversResponsible to follow up with Loan Officer or Closing Specialist to have any re-approvals needed for changes to the credit write up, if applicableEvaluates corporate documentation such as Articles of Incorporation, Operating Agreements and/or By Laws to determine or validate the identified signers for the transaction.Prepares legal loan documentation in accordance with the loan approval and federal regulations using supporting documentation provided by the Loan Closing SpecialistSelf-audits certain renewal transactions in order to bypass a separate and final quality control audit review, therefore being able to accommodate quicker turn around on these transactionsWorks with a database of exceptions items to clear each one ensuring the banks lien position in pledged collateral, which includes (but is not limited to) the collection of recorded mortgages, assignment of rents, title policies, vehicle titles and recorded UCC's are receivedProvides training to other team members within the department Additional Essential Functions for Documentation Specialist III:
May aid in the testing of new releasesAssists with the design and production of department job aides and checklists, may assist Director of Commercial Loan Operations in the creation or update of departmental proceduresMay perform Quality Control Reviews, as backup for the Quality Control Associate in busier times.May act as the second validation of CRA Reporting for the departmentQualificationsRequired Education and Experience:
Strong verbal and written communication skills;Strong attention to detailStrong computer skills. Proficiency in Microsoft Office Suite;Proficient with Laser Pro Doc Prep System; or equivalentAbility to document all commercial loan types including Commercial Real Estate, Construction, and C&IHas a good working knowledge of Federal and State compliance regulationsMinimum 5 years' experience with Commercial Doc PrepAbility to interchange roles within the Operations Dept. Acts as the knowledge contact for the doc prep teamWorks independently, relying on experience and judgement to plan and accomplish goals. Preferred Education and Experience:
  • Bachelor's degree in related fieldRequirements for performing Essential Functions:On the job the employee may physically be required to bend, sit, walk, use finger movements, handle objects (manual dexterity), and/or carry/lift loads up to 35lbs. The company requires the use of assistive devices or team lifting to help move or lift objects over 35 lbs. On the job the employee must mentally be able to read/comprehend, write, perform calculations, communicate orally, reason, and analyze. West Suburban Bank is an Equal Opportunity Employer/Veterans/Disabled.JT17 PI120286540

Keywords: West Suburban Bank, Lombard , Commercial Loan Documentation Specialist III, Other , Lombard, Illinois

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