SUMMARY: This position has overall management responsibility for the Small Business Finance Closing and Fund Control departments, whose primary role is to ensure that loans are closed in accordance with approved terms and conditions. Additionally, the department is assigned the task of insuring compliance with lending rules and regulations related to BSA, KYC, flood insurance, and other regulatory requirements. For construction loans, the department will also be involved in post-closing administration to ensure that draws on construction loans are supported by satisfactory inspections, title reviews, and that the loan remains in balance.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties and special projects may be assigned.
Hire, train, coach, manage, counsel, and when necessary, terminate closing and fund control personnel.
Establish appropriate reporting and management controls to monitor the workflow of Small Business Finance closing process and related reports.
Design and implement a work flow system to ensure that loans are closed in accordance with approved terms and conditions, regulatory requirements, and good judgment.
Make sure that all loan closing documents are correct and sufficient to document the bank's position in any assigned collateral and the borrower's obligation to repay the loan.
Maintain a systematic follow-up process to track missing information or necessary supplemental information.
Advise management of any loans that deviate from approvals or policy and seek appropriate levels of approval authority prior to allowing the loan to close.
Maintain accurate and up-to-date accounting for all construction loans and make sure that construction loans are in balance at all times unless approved to be out of balance.
Coordinate the loan closing process with the officer, the client, and third party professionals such as appraisers, title companies, insurance agents and bank or customer attorneys.
Process all incoming and outgoing correspondence related to the loans assigned.
Notify treasury and the wire room for all large closings and pay-downs.
Work with relationship officers in servicing the customer relationship.
Ensure compliance with Sarbanes-Oxley related matters.
Have a thorough knowledge of Bank policy and SBA regulations and disseminate appropriately to staff.
Determine whether to fund loans based upon compliance with terms and conditions. May delay closings if loans do not conform to approvals and waivers have not been obtained.
Exercise supervisory authorities over subordinate personnel.
Must apply good judgment, based upon extensive knowledge and experience in evaluating loan documentation.
Must work well under deadline pressures and with large, important customer relationships.
SUPERVISORY RESPONSIBILITIES
Supervises function, projects or services and/or one or more employees, as applicable.
Carries out supervisory responsibilities in accordance with the organization's policies and applicable laws.
Responsibilities include interviewing, hiring, and training employees; planning, assigning, and directing work; appraising performance coaching; rewarding and disciplining employees; addressing complaints and resolving problems.
EDUCATION and/or EXPERIENCE
Bachelor's Degreeor equivalent work experience required
4-6 Years of experience directly related with SBA in a loan operations or loan closing environment required
