Life Equity Lending Documentation Specialist

Busey; Plainfield (IL); On-site; USD 40,000 - 52,000; Full time

Benefits offered by this job

401(k) match

profit sharing

employee stock purchase plan

paid time off

medical insurance

Job summary

Busey is seeking a Life Equity Lending Documentation Specialist in Illinois to prepare consumer and commercial loan documents in line with loan approvals and policies. The role requires evaluating supporting docs to ensure proper lien positions, collateral coverage, and regulatory compliance.

You will work with internal teams to finalize loan packages for closing, while adhering to SLAs and using Laser Pro for doc prep and research. Strong attention to detail is essential.

Qualifications

• Strong oral and written communication skills.
• Extensive knowledge of Consumer and Commercial Loan Documentation parameters.
• Understanding of regulatory requirements for consumer and commercial loans.

Responsibilities

• Prepare loan documents in accordance with loan approval and terms.
• Review deal submissions and determine required closing documents.
• Collaborate with Loan Coordinator, Relationship/Portfolio Manager, and Credit staff on deal structure and documentation.
• Ensure documents comply with BSA/AML, OFAC, USA Patriot Act and related regulations.
• Demonstrate proficiency with Laser Pro and bank core systems for research and workflow.

Skills

Communication skills

Loan documentation knowledge

Regulatory awareness

Education

Associate degree in business/finance

0-2 years loan documentation experience

Tools

Laser Pro

Microsoft Office

Job description

Position Summary

The Life Equity Lending Documentation Specialist is responsible for preparing consumer and commercial loan documents in accordance with loan approval, bank policy and regulatory requirements. This position must evaluate and analyze the approval and any supporting documentation to determine the necessary required loan documents needed to conform to the loan approval as well as enforce legality, proper lien position and collateral coverage.

Duties & Responsibilities

• Prepare loan documents in accordance with loan approval: loan amounts, pricing (interest rates, index plus spreads, floors, ceilings, and fees), repayment (term and amortizations), collateral including advance rate adherence, and other requirements and conditions precedence.
• Review deal submission and supporting documentation provided through bank’s proprietary workflow system to determine the documentation parameters and required contents of the final loan package for closing.
• Collaborate with internal Loan Coordinator, Relationship/Portfolio Manager, and Credit associates on deal structure, supporting documentation and to obtain additional items needed to prepare documents and perfect our security interest.
• Confirm supporting documents adhere to Bank’s Policies (CDD, OFAC, and USA Patriot Act) and Regulations (B, O, U and Z), as well as Beneficial Ownership.
• Demonstrate proficiency within the Laser Pro system for doc prep, as well as bank’s core system for research purposes and workflow system used for queue assignment and individual deal flow.
• Responsible for meeting and maintaining Service Level Standards, metrics as assigned and individual accountability measures.

Education & Experience

Knowledge Of

• Strong oral and written communication skills
• Extensive knowledge of Consumer and Commercial Loan Documentation parameters
• Understanding of regulatory requirements for consumer and commercial loans

Ability To

• Multi-task and work independently and as part of a team
• Perform duties under frequent time pressures with ability to prioritize
• Complete work with frequent interruptions
• Problem solve and exercise exceptional use of good judgment with respect to issues and circumstances as they arise
• Requires continual attention to detail in composing and proofing materials, establishing priorities and meeting deadlines

Education And Training

• Associate degree in business, Finance, Accounting, Economics or relevant discipline preferred. Equivalent years of relevant work experience may be considered in lieu of a degree.
• 0-2 years' experience in loan documentation or loan collateral review/audit role preferred.
• Proficient knowledge of Microsoft Office Software, Laser Pro and ability to master other proprietary banking systems.

Compensation And Benefits

Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance. (Base Pay Range: $29.00-$38.00/hr)

Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being—now and in the years to come—are important to us.

• 401(k) match
• profit sharing
• employee stock purchase plan
• paid time off
• medical
• dental
• vision
• company-paid life insurance
• long-term disability
• supplemental voluntary life insurance
• short-term and long-term disability
• wellness incentives
• employee assistance program
• pre-tax health savings accounts
• flexible spending accounts

Visit Busey Total Rewards for more information.

Equal Opportunity

Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey’s commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey’s Equal Opportunity Employment.