Commercial Loan Closer

Connectone-Bank; Englewood Cliffs (NJ); Hybrid; USD 80,000 - 110,000; Full time

Benefits offered by this job

Hybrid work from home

Job summary

ConnectOne Bank in Englewood Cliffs, NJ is seeking a Commercial Loan Closer to manage the closing and funding of commercial loans, ensuring all terms align with credit approvals and bank policies. You will coordinate with deal teams, outside counsel and third parties to deliver accurate closing packages.

This role requires meticulous review of lien searches, title commitments, appraisals and insurance certificates, plus experience with ncino, TruStage and post-closing follow-up.

Qualifications

• Strong People First mindset and client service focus.
• Expertise in commercial loan documentation, title policies, appraisals and environmental reports.
• Knowledge of federal and state banking regulations.
• Understanding of processing, underwriting and closing procedures for real estate lending.
• Familiarity with security practices and safety.
• Experience closing NY/NJ/FL construction loans, commercial mortgages, participations/syndications, lines of credit and term loans.
• Minimum two years’ experience.

Responsibilities

• Support People First culture and provide excellent client service.
• Manage pipeline and process approved loans for closing and funding.
• Coordinate activities among the deal team, outside counsel and third parties.
• Ensure loan closings conform to credit approvals and bank policies.
• Monitor closing pipeline and update ncino.
• Perform quality assurance reviews of lien searches, title commitments, appraisals and environmental reports.
• Review insurance certificates to confirm adequate coverage.
• Prepare in-house loan documents via TruStage.
• Prepare escrow analysis and flow of funds; review settlement statements.
• Ensure proper wire instructions and enter wires in e-Wire.
• Prepare booking sheet and facilitate booking through Vikar.
• Follow up post-closing with loan closing binders.
• Identify risks and escalate issues as needed.
• Develop professional relationships with clients; participate in calls/meetings.
• Other duties as assigned.

Skills

People First mindset

Commercial loan documentation

Regulatory knowledge

Closing procedures

Loan funding coordination

Risk awareness

Tools

nCino

TruStage

Google apps

Job description

Description

About us:

ConnectOne Bank proves that putting people first is a better way to do business. At ConnectOne, we’re builders — of businesses, communities, and equity. Most importantly, we’re building opportunities. Our mission is to ensure our employees feel empowered to make important decisions, reach their potential and truly make an impact.

ConnectOne is a growth organization by design; it is part of our DNA and we take pride in seeing our employees grow with us. Founded in 2005 by an entrepreneur, we have grown into a high-performing commercial bank, inspiring a new model for our industry’s future. By embracing technology and all the ways it can help us become a world-class service organization, we support small business owners by fueling their mission.

People First is the blueprint for our culture. It is at the foundation of everything we do and the decisions we make. At ConnectOne, you have the opportunity to be a part of a dynamic culture and team. Develop your forward-thinking skills, thrive in an entrepreneurial setting, and succeed at “a better place to be”.

ConnectOne Bank is an Equal Housing and Equal Opportunity Lender, and a member of the Federal Deposit Insurance Corporation.

About this role:

The Commercial Loan Closer is responsible for the integrity of loan closing, due diligence, documentation, funding, and booking review for assigned loans. The Closer ensures that loan structure and terms conform to the credit approval and bank policies, that all closing requirements have been satisfied, and that all exceptions are identified and appropriately mitigated. The position requires an understanding of policies and procedures as they relate to the lending function

In this role you will:

• Support the Bank’s “People First” focus and rules of engagement—maintaining a professional demeanor, working as an active member of the CNOB team, providing all clients excellent service, always striving to make CNOB “A Better Place to Be”.
• Manage assigned pipeline and process approved loans for closing and funding of new money loans, renewals, extensions, and modifications of various types (e.g., Commercial Real Estate, Multifamily, Construction, C&I, Small Business, Participation & Syndications).
• Develop and maintain internal and external relationships; coordinate the activities, decisions, and communications amongst the internal deal team, outside counsel and third parties.
• Responsible for the integrity of loan closings, due diligence, documentation, and compliance (e.g., review of closing documents, completion of closing checklist; ensuring loan structure and terms conform to credit approval and bank policies, pre-closing conditions are satisfied, and exceptions are identified and appropriately mitigated).
• Monitor loan closing pipeline, loan closing target dates, and deadlines; ensure loan origination system (nCino) is updated and correct at all times.
• Perform quality assurance review of UCC/Federal/State/County preliminary lien searches, title commitments, flood search, appraisal, and environmental reports.
• Perform quality assurance review of insurance certificates to confirm that satisfactory documentation and adequate coverage is in place prior to closing (e.g., property/hazard insurance, liability, builder’s risk, flood & contents).
• Prepare in-house loan documents for certain new loans, modifications, renewals, and/or extensions via TruStage (doc-prep platform).
• Perform quality assurance review of organizational documents to confirm compliance with Patriot Act and Beneficial Ownership requirements and identify authorized signers/principals.
• Prepare tax and insurance escrow analysis as required; verify escrow amount to be collected at closing.
• Prepare flow of funds (Closing Letter) for Bank Counsel (which includes wire breakdown, fees, etc.) and review Settlement Statements.
• Confirm wire instructions, obtain required verification and approvals, and enter wires in e-Wire system for review.
• Prepare booking sheet and facilitate the timely booking and funding of scheduled loan closings through Vikar (loan onboarding platform) and the Booking & Administration Team.
• Perform quality assurance review confirming that all loans are closed without material, administrative or compliance exceptions.
• Follow up post-closing to ensure receipt and review of loan closing binders from outside counsel.
• Use judgment to make decisions that are aligned with bank policies and risk tolerance guidelines.
• Proactively identify potential risks and adverse situations that may impact the bank’s interest; communicate and/or appropriately elevate issues, assume ownership, pursue corrective action, and follow-up through resolution.
• Develop and maintain professional relationships with internal and external clients (including active participation in conference calls, correspondence, and pre- and post-closing meetings), while ensuring all client communication remains positive.
• Other duties as assigned.

Must haves:

• Strong “People First” interest and ability.
• Superior knowledge of commercial loan documentation, title policies, appraisals, environmental assessments, and entity formation documents.
• Knowledge of relevant Federal and State banking regulations
• Knowledge of processing, underwriting and closing procedures / federal lending regulations governing real estate lending.
• Familiarity with Bank security and safety practices.
• Experience closing New York, New Jersey and Florida Construction Loans, Commercial Mortgages, Participations/Syndications, Lines of Credit and Term Loans.
• Minimum two years’ experience required.

Bonus Points For:

• Working knowledge of Google applications and products
• Working knowledge of nCino and TruStage platforms

Additional information

Benefits:

• World class health, vision, and dental benefits on day one
• 401k with employer match
• Hybrid work from home (depending on role)
• Employee appreciation events (team building, softball games, food truck days, etc..)
• Employee assistance programs (EAP)
• Wellness programs (flu shot, preventive care, health programs and services discounts, etc..)
• Tuition reimbursement
• Employee Discount perks
• CNOB Community Service Events

…and much, much more!

Studies have shown that individuals from underrepresented groups, may only apply to roles if they meet 100% of the qualifications. Roles evolve over time, especially with innovation, and you may be just the person we need. We hope you’re open to learning new skills and growing with us. We encourage you to apply to continue making us “a better place to be!”

ConnectOne Bank is an equal opportunity employer and does not discriminate with respect to any term, condition or privilege of employment based on race, color, religion, sex, sexual orientation, gender identity or expression, age, disability, military or veteran status, marital status, or status of an individual in any group or class protected by applicable federal, state, or local law.

ConnectOne Bank also provides reasonable accommodations for qualified individuals with disabilities in accordance with the Americans with Disabilities Act and applicable state and local laws. If an accommodation is needed to participate in the job application or interview process, please contact Talent Acquisition.