Regional/Industry Closing Associate

Fifth Third Bank; Farmington Hills (MI); On-site; USD 65,000 - 90,000; Full time

Job summary

Fifth Third Bank seeks a Regional Closing Associate to manage the entire closing process for middle market transactions. You will coordinate with clients, relationship managers, attorneys, and internal teams to ensure all documents and approvals are in place for a timely close and proper boarding.

In this role, you will ensure compliance with policy and regulatory requirements, review master checklists, and guide the closing team through a coordinated process while maintaining risk controls and

Qualifications

• High School diploma or equivalent; Bachelor's degree or paralegal degree preferred.
• 2-4 years of related commercial banking and/or legal experience.
• Proficient knowledge of commercial loan documentation and requirements.
• Proficient knowledge of commercial lending credit policies and guidelines.
• Proficient knowledge of loan regulatory rules (e.g., Insurance).
• Thorough knowledge of loan closing procedures and policies preferred, but not required.
• Thorough knowledge of CCAS, AFS, RIMS, Loan Doc Prep System (or equivalent vendor systems).
• Strong verbal and written communication skills.
• Demonstrate effective problem solving and analytical skills with ability to handle and prioritize multiple tasks with escalation.
• Demonstrate ability to coordinate tasks and resources and meet deadlines under pressure.
• Possesses strong organizational skills.
• Excellent knowledge of all Microsoft Office software.

Responsibilities

• Manages the entire closing process for middle market transactions, with minimal supervision.
• Active member of the deal team working with the client, relationship manager, regional closing manager, loan closing specialist and portfolio manager to address policy, legal, compliance and regulatory matters.
• Ensures transactions are closed per the credit approval memo.
• Directs the loan closing specialist on the master checklist for timely execution.
• Manages the closing calendar balancing multiple internal and external clients.
• Determines if documents are internal or attorney-prepared and engages attorneys as needed.
• Engages outside attorneys involved in commercial loan closings.
• Reviews and sends draft closing package for client review prior to closing.
• Ensures all documents, waivers, and approvals are in place before issuing a clear to close.
• Obtains approval for trailing exceptions and ensures follow-up on trailing documents.
• Ensures funding and boarding team executes on funding instructions.
• Conducts post-boarding review with post-closing teams to ensure proper coding and boarding.

Skills

Verbal communication

Written communication

Problem solving

Time management

Organizational skills

Microsoft Office

Education

Bachelor's degree or paralegal degree

High School diploma or equivalent

Tools

CCAS

AFS

RIMS

Loan Doc Prep System

Job description

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General Function

The Regional Closing Associate is responsible for all aspects of closing commercial middle market transactions, with minimal supervision. This position interfaces with the client, relationship manager, outside attorneys, portfolio manager, regional closing manager, loan closing specialist, and funding / boarding team for all matters related to the loan/transaction closing. Ensures all documents, waivers, and management approvals required for closing are in place prior to issuing "clear to close". The Regional Closing Associate works directly with outside attorneys. Ensures all closing documents are ready for closing, and that the deal is funded and boarded accurately.

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 and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Banks risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

Essential Duties and Responsibilities

• Manages the entire closing process for middle market transactions, with minimal supervision.
• Active member of the deal team working directly with the commercial client, relationship manager, regional closing manager, loan closing specialist and portfolio 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.
• Ensures that transactions are closed per the instructions as stated in the credit approval memo.
• Directs the loan closing specialist in the completion of the master checklist to ensure timely and efficient execution.
• Manages the closing calendar balancing the needs of multiple internal and external clients simultaneously.
• Determines if internally generated documents or attorney prepared documents are needed and engages attorneys as necessary.
• Engage and coordinate with outside attorneys involved in commercial loan closings.
• Works directly with client for all matters related to closing and include other internal partners as needed. Reviews and sends draft closing package for the client's review prior to closing.
• Ensures that all documents, waivers, and management approvals required for closing are in place prior to issuing a "clear to close" decision.
• Obtains approval for trailing exceptions and missing documents and ensures that the appropriate follow-up actions are in place to insure receipt of any approved trailing documents.
• Ensures that the funding and boarding team accurately executes on funding instructions.
• Conducts post-boarding review working closely with the post-closing teams to make certain the loan is coded and boarded properly.

Supervisory Responsibilities

While this position does not have direct reports, there is the responsibility of providing direction to multiple parties while achieving shared goals.

Minimum Knowledge, Skills and Abilities Required

• High School diploma or equivalent. Bachelor's degree or paralegal degree, or equivalent work experience preferred.
• 2-4 years of related commercial banking and/or legal experience.
• Proficient knowledge of commercial loan documentation and requirements.
• Proficient knowledge of commercial lending credit policies and guidelines.
• Proficient knowledge of loan regulatory rules (e.g., Insurance).
• Thorough knowledge of loan closing procedures and policies preferred, but not required.
• Thorough knowledge of CCAS, AFS, RIMS, Loan Doc Prep System (or equivalent vendor systems), and other banking systems preferred, but not required.
• Strong verbal and written communication skills.
• Demonstrate effective problem solving and analytical skills with ability to handle and prioritize multiple tasks with appropriate escalation of issues.
• Demonstrate ability to coordinate tasks and resources and meet deadlines under pressure.
• Possesses strong organizational skills.
• Excellent knowledge of all Microsoft Office software.

Regional/Industry Closing Associate

At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.

The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role i