Industry Closing Manager

City National Bank; Los Angeles (CA); On-site; USD 61,000 - 103,898; Full time

Benefits offered by this job

Comprehensive healthcare coverage

401(k) matching contribution

Career Development through Tuition Reimbursement

Valued Time Away benefits

Specialized health benefits

Career Mobility support

Colleague Resource Groups for networking

Job summary

City National Bank is hiring an Industry Closing Manager in Los Angeles to lead the closing of deals in Commercial Real Estate Banking. You'll manage due diligence, ensure closing documents are accurate, and supervise Loan Closing Specialists.

Ideal candidates have a Bachelor’s degree, at least 10 years of experience in the industry, and a strong understanding of legal documents. The position includes significant client interaction and offers comprehensive benefits and competitive compensation.

Qualifications

• 10+ years of experience in Commercial Real Estate Banking required.
• Previous management experience is preferred.
• Understanding of bank policies and loan closing conditions.

Responsibilities

• Lead closing activities and manage due diligence.
• Communicate timelines and manage client expectations.
• Issue the 'Clear to Close' for transactions.
• Support and manage Loan Closing Specialists.

Skills

Commercial Real Estate Banking

Project Management

Organizational skills

Client-facing skills

Legal document understanding

Education

Bachelor’s Degree or equivalent

Job description

INDUSTRY CLOSING MANAGER

WHAT IS THE OPPORTUNITY?

The Industry Closing Manager (ICM) is the leader in the closing of the deal and a key member of the client team. They will manage the due diligence activities within Loan Administration and will directly follow up with the client for scheduling, documents, and questions related to closing. The ICM will be the primary contact for outside attorneys and ensure all closing documents are ready for closing and that the deal is funded and boarded accurately. The ICM will directly manage the activities of the Loan Closing Specialists that are assisting them in the closing of deals. In addition, the ICM will work with Relationship Managers and Credit Products staff to review legal documents to ensure they represent the deal and credit conditions are being met within those documents. In addition, the ICM will be accountable and responsible for issuing the “Clear to Close” which is the signal that all conditions have been met to move the deal to closed and execute legal documents and then fund the transaction. This is one of the most important controls within the Wholesale Bank and is critical to the bank’s control environment. The ICM is a key colleague in ensuring a positive onboarding experience for all our City National’s clients. They also serve a critical role as a key control point to ensure the bank is following its policies and procedures. This role is a senior level role that requires years of experience and ability to interact with and manage many competing priorities and roles both inside and outside of the bank.

WHAT WILL YOU DO?

• Work directly with client for all matters related to closing and include other internal partners as needed
• Manage activities of Loan Closing Specialists that are working to support ICM duties and function
• Review closing checklist for completion and ensure all items are completed prior to closing
• Manage and communicate the closing timeline and date with Clients, Relationship Managers and Credit staff
• Determine if internal or attorney prepared documents are needed; engage attorneys if needed
• Manage legal invoices if needed, approve expense on behalf of the Relationship Managers
• Responsible for issuing the “Clear to Close” allowing for a deal to be closed
• Set up exceptions and approve trailing/ missing documents
• Prior to closing, coordinate with Funding & Boarding to execute on funding instructions
• Conduct post-boarding review and work closely with post-close teams

WHAT DO YOU NEED TO SUCCEED?

Required Qualifications

• Bachelor’s Degree or equivalent
• Minimum 10 years experience in Commercial Real Estate Banking required.

Additional Qualifications

• Previous Management experience is preferred
• Previous experience as a Paralegal or part of Law Firm is preferred.
• Client facing presence and experience
• Project Management skills, ability to prioritize tasks and adapt to changing priorities
• Organizational and time management skills
• Recommended experience: Prior closing experience, paralegal (i.e., understand legal language and docs), commercial credit experience or understanding of experience
• Understanding of bank policies and procedures relating to the satisfaction of loan closing conditions, documents, and services

WHAT'S IN IT FOR YOU?

Compensation

Starting base salary: $44.28 - $75.42 per hour. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

Benefits and Perks

• Comprehensive healthcare coverage, including Medical, Dental and Vision plans, available the first of the month following start date
• Generous 401(k) company matching contribution
• Career Development through Tuition Reimbursement and other internal upskilling and training resources
• Valued Time Away benefits including vacation, sick and volunteer time
• Specialized health and family planning benefits including fertility benefits, and cancer, diabetes and musculoskeletal support programs
• Career Mobility support from a dedicated recruitment team
• Colleague Resource Groups to support networking and community engagement

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT

City National Bank fosters an inclusive environment where all forms of diversity are valued and leveraged to make us a better company and employer. We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sexual orientation, gender identity, national origin, disability, veteran status or other basis protected by law. It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.

Unless otherwise indicated as fully remote, reporting into a designated City National location is an essential function of the job.