Equipment Finance Sr. Doc Specialist

Fifth Third Bank; United States; Remote; USD 90,000 - 120,000; Full time

Job summary

Fifth Third Bank in the United States seeks an Equipment Finance Senior Documentation Specialist to manage all aspects of documenting, closing and funding Equipment Finance transactions. You will coordinate with clients, relationship managers, attorneys, and internal teams to ensure timely, compliant closings and proper perfection of liens.

The role requires 6–10 years of experience in Equipment Finance documentation, a Bachelor’s degree, and strong knowledge of due diligence items (UCC, proofs

Qualifications

• 6-10 years' experience with Equipment Finance lease/loan documentation preferred.
• Bachelor’s degree in Business (e.g.).

Responsibilities

• Manage the entire transaction documentation and closing process for Equipment Finance transactions.
• Coordinate with clients, relationship managers, attorneys and internal teams to ensure timely, compliant closings.
• Oversee due diligence items such as KYC, UCC searches, proof of insurance, and title work.
• Ensure proper lien perfection and funding per credit and asset management approvals.
• Mentor new employees and contribute to process improvements.

Skills

Equipment Finance

Documentation

Closing

Funding

Due diligence

Education

Bachelor’s degree in Business

Tools

ACE Transaction system

UCC-1/UCC-3 preparation

Job description

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GENERAL FUNCTION:

The Equipment Finance Senior Documentation Specialist is responsible for all aspects of documenting, closing and funding Equipment Finance transactions. This position will interface with the client, relationship manager, inside and outside attorneys, portfolio managers, asset managers, syndication managers and pricing managers for all matters related to the due diligence, documentation, perfection, closing, funding and, if applicable, syndication of Equipment Finance, and thus must be able to coordinate with and influence multiple parties while driving toward the shared goal of an excellent client experience. Ensures that all documents required for closing are in place and makes judgmental " clear to close" decisions and approves any document or process exceptions. The Equipment Finance Senior Documentation Specialist will prepare all lease/loan documents required for closing and that the business' equipment liens and/or ownership are properly perfected in accordance with legal requirements, and Fifth Third Bank Policies and Procedures.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns and personally following policies and procedures as defined. Accountable for always doing the right thing for customers, colleagues and the business and ensure that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring and reporting risks of all types. The Equipment Finance Senior Documentation Specialist will have the requisite experience and knowledge of the Equipment Finance industry to be able to independently manage all transactional issues that may arise throughout the documentation, closing and funding process, including, but not limited to, the ability to make judgmental " clear to close" decisions and approval of any document or process exceptions, and what items are vital or may be received post-closing.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Manage the entire transaction documentation and closing process for Equipment Finance transactions.
• Active member of the deal team working directly with the client, relationship manager, inside or outside attorney, portfolio manager, asset manager, syndication manager and pricing manager providing expertise to the team and client to ensure that policy, legal, compliance and regulatory matters necessary for closing are addressed early in the process.
• Effectively manages and prioritizes work queues for new lease/loan transactions.
• Proactively manages work- in-progress within the closing calendar, balancing the needs of multiple internal and external stakeholder simultaneously.
• Ensures that transactions are documented and closed per the instructions and conditions stated in the credit and asset management approval memo(s).
• Lead efforts to determine, obtain and analyze required due diligence items including, but not limited to:
  • Know Your Customer requirements
  • UCC searches
  • Proof of insurance
  • Entity Corporate documents
  • Assignment documents
  • UCC-1/UCC-3 preparation
  • Invoices/Proof of Payment
  • MSO/Titles
• Confirm wire instructions provided by vendor or customer are correct and accurate.
• Prepares appropriate documentation in compliance with the terms of the request, including determining whether outside counsel involvement is necessary based on equipment type or transaction structure.
  • transactions meet the requirements of and protect the interests of Fifth Third Bank.
• Enlist and coordinate assistance from legal counsel to advise on specific transaction issues and unresolved legal matters pertaining to transaction documentation.
• Promptly and accurately determine when all underwriting, pricing and/or equipment management approval conditions for funding have been satisfied. Take appropriate actions to resolve deficiencies and if not able to resolve themselves, escalates disputes to appropriate level.
• Prepare ACE Transaction and funding communication to ensure proper disbursement of funds via wire, deposit account and check payments.
• Ensure proper filings are made and, if applicable, 3rd party subordinations/releases obtained to perfect Fifth Third’s liens/ownership (including proper motor vehicle title work).
• Ensure effective communication and coordination with applicable departments to finalize interim draws.
• Thoroughly understand lease/loan documentation and other source data to ensure proper boarding of all aspects of the transaction into the accounting system.
• Board lease/loan transactions to the accounting system.
• Take proactive steps to ensure that follow up items are received on a prompt and timely basis.
• Ensure all goals and departmental service standards are met.
• Prepare all necessary amendments and post-closing adjustment documentation, and ensure all required approvals are received.
• Escalate issues to appropriate personnel as necessary.
• Assist department Team Leads, as necessary, with review and approval of co-worker documentation packages.
• Mentor new employees.
• Participate in projects as assigned.
• Present suggestions on efficiency improvements for the department.

Transaction types include, but are not limited to:

• Loans, including outside counsel prepared
• Finance Leases
• Tax Leases
• Synthetic Leases
• Interim Financing Products
• Municipal Transactions, including outside counsel prepared>
• Leverage Leases
• Rail Financing
• Aircraft Financing
• Vessel Financing
• Indirect Transactions
• Syndicated Transactions

SUPERVISORY RESPONSIBILITIES: None

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• 6-10 years' experience with Equipment Finance lease/loan documentation, with demonstrated expertise in due diligence and perfection processes preferred.
• Bachelor’s degree in Business (e.g.