The Loan Closer III team member will work to resolve and act upon all loan closing issues. The individual is primarily responsible for working with the front office to understand and interpret key deal terms for all loan types that SVB offers. The LC III will be responsible for processing the commercial loan closing packages while ensuring adherence to internal policy and regulatory/internal compliance guidelines. LC III will review loan approvals and gather due diligence items necessary to document a commercial loan. Additionally, LC III will work closely with internal and external customers to document, coordinate and fund a commercial loan transaction. Position requires the interpretation of complex legal agreements. Additionally, they are responsible to proactively coordinate and engage with operations team to ensure a seamless loan onboarding process. The LC III will develop relationships with internal colleagues and collaborates with lenders and operations to ensure consistent delivery on the client experience.
ESSENTIALS FUNCTIONS
Independently Execute Closing Process: Be autonomous within the closing process while escalating issues as necessary to successfully complete closing, funding, and boarding within specified timeframe.
Assist Lenders in procuring documentation and information essential to loan application processing and ongoing portfolio management.
Review approval for accuracy, and coordinate revisions as necessary.
Assist lenders with providing superior customer service to existing customers by resolving issues and providing accurate and timely information.
Engage with external counsel to prepare documents for closing.
Collect due diligence needed to close loans in accordance with approval.
Act as liaison with attorneys and lenders and coordinate closing dates.
Monitor pipeline reports to ensure timely closings.
Carefully review loan documents for closing to ensure accuracy, close loans when necessary.
Clear any documentation and insurance exceptions.
Communicate with Lenders any issues that arise prior to closing.
Review and clear all conditions listed on Credit Approval Request (CAR).
Verify that the loan submitted for closing have been properly approved and gather all necessary information needed to close.
Review credit approvals for accuracy and is consistent with the loan boarding sheet and that policies, guidelines and procedures are followed.
Communicate with Attorneys/Paralegal and Account Officers as needed for documentation on clearing conditions.
Work on any additional required documentation to close and fund loans in a timely manner.
Assist with escalation of complex issues and help drive to positive outcome.
Assist lower level LC's and key business partners with coaching and solutions through more complex problems.
Process/System SME and Partnership: Serve as process / systems SME during deal team and client conversations to address operations considerations during deal negotiations.
Predict potential roadblocks and issues the deal terms and details evolve. Partner with teams to communicate potential challenges, and offer up suggested mitigation strategies
Respond to questions, requests or concerns with respect to deal structure or documentation issues
Anticipate funding requirements based on loan type, and partner with deal team and operations to ensure SVB meets funding obligations
Represent Deal Team as key point of contact for Operations and Outside Counsel
Inform Operations of delivery expectations for missing information, along with providing estimated closing dates
Operational Efficiency: A ccountable for identifying opportunities and driving change to increase efficiency, operational effectiveness; and/or overall loan boarding experience, including, but not limited to:
Challenges existing processes or approaches and identifies areas of inefficiency or opportunities for enhancements
Applies problem solving skills and critical thinking to generate potential remediation or alternative strategies; presents to team and/or internal partners for input and guides discussion to derive optimal results
Utilizes a holistic approach when problem solving or improving processes
Helps design and implementation of solution and drives to desired outcome
Helps create training on new processes
Modifies as required to further improve efficiency
Works within established procedures, processes and/or regulatory guidelines and utilizes authority matrix to level of determinations with respect to production work and may occasionally use discretion in generating resolutions for issues not guided by precedent. Utilizes independent judgment in the execution of closing loans, identification and design of improvements and/or enhancements, coaching and development, and influencing decisions to service model modifications.
Actively provides opinions and recommendations for variety of loan structures such as borrowing bases, ways in which to refinance a loan and how the corresponding action will be captured within the lending platform, and how to book a loan onto the system with the appropriate product codes, loan type, and other qualifiers.
Advanced comprehension of commercial lending closing processes, including participations, syndications and sole bank deals;
Strong understanding of credit approvals, loan structures, and lending terminology;
Advanced experience in interpreting commercial loan documentation and awareness of when and why specific documents are required;
Strong knowledge of due diligence requirements for varying collateral types;
Advanced ability to correlate loan approval to loan documents to ensure harmonization;
High ability to effectively prioritize transactions and manage time based on customer / lender / business needs;
Excellent verbal and written communication skills allowing effective interaction with deal team, outside counsel, title company, vendors and client;
Strong working knowledge with commercial lending loan accounting systems;
Advanced knowledge of bank and/or loan products;
Recognizes key operational risks facing clients and the company;
Highly competent in managing processes relating to loan operations and lender relationships;
Proficient on Microsoft Office (Outlook, Word, Excel, PowerPoint and Teams);
"Internet savvy" with a knowledge of various browsers a plus
Ability to handle escalations of more complex projects and lead to positive outcome.
LC III's will assist lower level LC's and key business partners with coaching and solutions through more complex problems.
LC III role will need strong communication and time management skills to ensure the loan is on track for closing and all parties involved are on the same page, which is exhibited by:
Able to multi-task in a fast-pace environment and prioritize effectively
Adept at understanding and interpreting lender inquiries
Strong written and verbal communication skills
Exhibits a strong desire to learn and develop a full understanding of products, processes, process enhancements, and committed to professional improvement
Exhibits problem solving skill set for common issues with ability to facilitate solution by identifying issue, determining resolution or escalating when appropriate
Effectively acts as client advocate and accountable for "closing the loop"
Ability to work independently, collaborating with team members
Skilled at developing relationships within team and other internal partners
COMPETENCIES
Customer/Client Focus
Time Management
Problem Solving
Initiative
Organizational Skills
Flexibility
Critical Thinking
Accountability
Customer/Client Focus
Interpersonal Skills
Fostering Teamwork
Mentoring/Coaching
EDUCATION/EXPERIENCE
5-7 years commercial banking experience
3-5 years closing / processing or commercial finance, banking, and/or paralegal experience;
High school diploma is required; Bachelor's degree is preferred.
