Associate Post Closing Specialist

Live Oak Bank; Wilmington (DE); On-site; USD 28,000 - 44,000; Full time

Benefits offered by this job

Paid sick leave

Competitive compensation

Job summary

Live Oak Bank is seeking a Post-Closing Specialist to help ensure loan documentation accuracy and audit readiness across the bank. You will review post-closing files, identify gaps, and collaborate with closing, underwriting, credit, legal, and compliance teams to protect the bank and support audits.

Required is an Associate or Bachelor’s degree with experience in commercial lending; SBA experience is preferred.

Qualifications

• Associate or bachelor’s degree is required in a related field.
• Experience with commercial loan post-closing or similar role preferred.
• Excellent oral and written communication skills.
• Experience with SBA and/or conventional lending preferred.
• Experience with paralegal real estate work, loan closing, or credit operations preferred.

Responsibilities

• Analyze loan documentation and determine missing items or errors.
• Conduct post-closing risk reviews of basic commercial loan files.
• Review loans for accuracy and understanding of collateral types.
• Mitigate risk and recommend actions to management.
• Collaborate with closing, underwriting, credit, legal, and compliance teams.
• Communicate with legal counsel and internal partners on closed loan documentation.
• Identify issues related to Bank Secrecy Act, CIP, Regulation B, and AML requirements.
• Assist in preparing loan files for bank audits.

Skills

Loan documentation analysis

Risk assessment

Documentation review

Collaboration

Attention to detail

Communication

Education

Associate or bachelor’s degree in a related field

Job description

About Us

Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.

About Us

Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.

How This Role Impacts Live Oak And Its People

As a part of the post-closing department, you will help the bank meet and exceed audit expectations for loan documentation and accuracy. The role is essential to maintaining the bank’s safety and soundness objectives. The document intake, loan review process, and collaboration with internal teams to protect the bank against losses, which in turn impacts profitability.

What You will Do at Live Oak

• Analyze: Must be capable of identifying loan documentation and analyzing if it is missing and/or may have errors that need to be corrected.


• Risk Assessment: Conduct thorough reviews of basic commercial loan files post-closing to identify any potential risks or discrepancies in missing loan documentation and/or collateral records.


• Documentation Review: Review the loan to ensure accuracy, including understanding the specifics of several types of unique loan products and/or collateral types.


• Risk Mitigation: Can mitigate risks and recommend appropriate actions to management.


• Collaboration & Issue Resolution: work closely with various departments and stakeholders, including closing, underwriting, credit, legal counsel, and compliance, working towards making the loan file as accurate as possible.


• Communicate: work with legal counsel and internal partners on the closed loan documentation.


• Compliance Assessment: be knowledgeable and able to identify issues in relations to bank compliance guidelines such as the Bank Secrecy Act, CIP, Regulation B, and Anti-Money Laundering requirements, as well as internal policies and procedures.


• Bank Audit Support: multiple agencies audit the bank throughout the year. Post-closing specialists are responsible for assisting in preparing the loan files for audit review.

How You Will Do It

• Function as a team and realize all members of the team are vital to its success.


• Collaborate across teams and departments in the organization, working towards always producing highly accurate files while being seen as a resource and partner.


• Follow regulatory requirements.


• Be highly coachable and open to feedback.


• Learn and gain a basic understanding of bank systems.


• Gain a thorough knowledge and understanding to stay current with products and services offered by the bank.


• Perform other duties as required, be willing to cross-train.


• Must be detail oriented and able to use sound judgement in making decisions.


• Manage shifting priorities and timelines.

Required And Preferred Experience

• Associate or bachelor’s degree required. Equivalent work experience in commercial loan post-closing or a similar role would be considered.


• Customer service and/or a job that required teamwork required.


• Excellent oral and written communication skills required.


• Experience with SBA and/or conventional lending preferred.


• Experience with paralegal real estate work, loan closing, or credit operations preferred.

Our Values

• Dedication: Possess a deep commitment to Live Oak Bank's mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.


• Ownership: Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.


• Respect: Treat everyone with courtesy, politeness, and kindness.


• Innovation: Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.


• Teamwork: Foster collaboration, accountability, and trust with others and understand that together, we do more

For a detailed overview of our employee benefits please visit: http://www.liveoakbank.com/careers/

Live Oak Bank is an affirmative action and equal opportunity employer, minorities/women/veterans/disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at [e-mail].

EEO is the Law

The base pay range for this position is $19.77 - $32.12 per hour. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate’s salary is determined by several factors including travel, relevant work experience or skills and expertise.

• We provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.