Commercial Closing Specialist

Old National Bank; Sycamore (IL); On-site; USD 25,000 - 41,000; Full time

Job summary

Old National Bank seeks a Commercial Closing Specialist to support Relationship Managers in the Commercial and Business Banking segment. You will assist with sales support, coordinate new money and renewal requests, and ensure accurate data entry in the CML system.

The role requires proficiency with loan documents and underwriting information, collaboration across loan operations and legal teams, and the ability to manage a fast-paced pipeline while maintaining service levels.

Qualifications

• Bachelor’s degree or equivalent; also acceptable Associate or high school diploma with related experience.
• Knowledge of loan documents and experience with loan processing.
• Knowledge of Old National Bank loan policy and Commercial Guidelines preferred.
• Highly organized with strong attention to detail and ability to meet deadlines.

Responsibilities

• Review and process loan submissions in CML and ensure complete data entry.
• Coordinate with Relationship Managers to gather information for underwriting.
• Prepare and review loan documents, including appraisals, title, UCC searches.
• Close and post-approval steps in loan system.
• Support senior specialists in complex loan transactions.

Skills

Communication skills

Analytical skills

Attention to detail

Deadline-driven

Fast-paced environment

Education

Bachelor’s degree

Associate degree

HS Diploma/GED

Tools

Loan software

Job description

Overview

Old National Bank has been serving clients and communities since 1834. With over $70 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.

We continually seek highly motivated and talented individuals as our people are critical to our success. In return, we offer competitive compensation with our salary and incentive program, in addition to medical, dental, and vision insurance. 401K, continuing education opportunities and an employee assistance program are also included in our benefit suite. Old National also offers a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization. We offer a unique opportunity to join a growing, community and client-focused company that is firmly rooted in its core values.

Responsibilities

The Commercial Closing Specialistposition works with the Relationship Managers (RM) in the Commercial and Business Banking segmentsto provide sales support and coordinate all new money and renewal requests. This rolemustbe proficient inthe commercial online application system(CML), financial informationrequiredfor underwriting, loan structuring guidelines, collateral requirements, due diligenceitemsand banking processes. TheCommercial Closing Specialistprovidesan appropriatereviewof entity documents, appraisals, title insurance, UCC Searches and other required supporting documentation to ensure proper signor authorities and lien position. This rolemustcommunicateeffectively withother members of the Loan Fulfillment team, RMs, Banking Specialists, Credit Underwriters, in-house legalcounsel,and Loan operationsto resolve any issues or questions. This position requiresa high levelof decision-making capabilities and exception processingcapability.

Salary Range

The salary range for this position is $18.25/hr. - $29.75/hr. The base salary indicated for this position reflects the compensation range applicable to all levels of the role across the United States. Actual salary offers within this range may vary based on a number of factors, including the specific responsibilities of the position, the candidate’s relevant skills and professional experience, educational qualifications, and geographic location.

Loan Processing:

• Reviewsand inputsloan submissions from RMs inCML includingreviewingfinancial information, ownership, loanstructureand complianceneeds; responsible for complete andaccuratedata entry in CML.

• Communicateswith the RM to gatheradditionalinformation necessary todeemtheapplication ascomplete and ready for underwriting.

• Completes loan pre-closing tasks including ordering appraisals, environment reports, and title/UCC searches; performs a detailed and thorough review of entity documents, title insurance, UCC searches, flood determinations, and other supporting documentation.

• Collaborates with RM to ensure allconditionsprecedent to closing required by credit are met.

• Reviewsexisting loan documents for accuracy and compliance with loanguidelines.

• Finalizes post-approval in CML.

• Communicateswith underwriting,Line of BusinessExecutives and Credit Administration to address policy exceptions.

Preparation of Loan Documents:

• UtilizesLoan Guidelines and commercial proceduresto ensuredocuments are preparedin accordance withapprovaldocument.

• Utilizesspecial loan software to produceaccurateand complete loan documents.

• Prepares template documents outside of loan software (i.e.Rate Modifications & Due Date Changes)

Service:

• Ability to prioritize large pipelines toensure adherence to service level expectations.

• Exhibitsflexibility in response to the changing banking environment.

• Ability towork in a fast-pacedenvironment.

• Providesoptions and solutions when issues arise.

Additionalposition level:

In addition to the core job requirementsoutlined above, theSenior rolesisalso accountable for:

SeniorSpecialist

• Processesspecialty lending products andcomplex loan transactions.

• Completesa comprehensive review of loan documents prepared by outside legal counsel to ensure they meet serviceability requirements and terms of approval.

• Assistsin second level reviews of critical items, as needed,to ensure accuracy prior to releasing closing documents.

• Acts effectively as thefirst step in the escalation process andexceptiondecisions.

• Assistsin training new team members.

• Assistsincreatingand updating processes and procedures for the department.

• Assistsmanagement with special projects.

KeyCompetenciesfor Position

Develops Talent–Strengthen your abilities for today and beyond.

• You own your own development andyour career.

• Actively assessesself feedbackto enhance knowledge,skillsand behaviors.

• Leverages own strengths and those of team members to meet individual and team goals supporting both internal and external client needs.

• Continuously develops self for current and future roles.

• for others' opinions and ideas andlistensactively to gain their support when clarifying expectations, agreeing on a solution and checking for satisfaction.

Makes Decisions & Solves Problems–Seeks deeper understanding andtakes action.

• Takesownership of the problem while collaborating with others on a resolution withan appropriate levelof urgency.

• Collaborates andseekstounderstandsthe root causes of problems.

• Evaluates the implications ofnew informationor events and recommends solutions using decisions that are sound based on what is known at the time.

• Takesaction that is consistent with available facts,constraintsand probable consequences.

Delights Clients–Continuouslyseeksand applies knowledge leading to a best-in-class client experience.

• Passionately serves internal/external clients with excellence.

• Maintainsa growth mindset staying current with developments and trends in areas of expertise influencing client satisfaction both internally and externally.

• Understands data,metricsand/or financial information, and how they tie to client satisfaction and business outcomes related to position,clientand/or team.

• Nurtures client relationships by listening, prioritizing, and acting responsibly to meet client needs, mitigateriskand add shareholder value.

Qualifications and Education Requirements

• Bachelor’s degree,Associatedegreeand/or H.S. Diploma/GED withequivalent work experience.

• Knowledge of loan documentsand experience with loan processing

• Knowledge of ONBloan policy and Commercial Guidelinespreferred but notrequired.

• Highly organized with a strong attention to detail.

• Strong analytical and problem resolution skills.

• Excellent verbal and written communication skills.

• Must have experience working in a fast-paced office environment with service level expectations.

• Must be able to meet deadlines

Key Measures of Success/Key Deliverables:

• Service– Provideshigh levelof service to RMs

• Speed– Delivers product within service level expectations

• Accuracy–Delivers product without errors

Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles.

As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.

We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Director of Talent Acquisition, SVP, to fill a specific position.

Our culture is firmly rooted in our core values.

We are optimistic. We are collaborative. We are inclusive. We are agile. We are ethical.

We are Old National Bank.