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Jobs at Vacare Group

Firestone Financial - Loan Closer

Location: Needham, MA

Type: Full Time

Min. Experience: Entry Level

Loan Closer II - Firestone

Job Description

 

Purpose/Objective:  

Serves as loan closer by way of coordinating loan documentation, funding and closing process for complex loan transactions in accordance with internal policies and procedures, while ensuring complete and quality loan closing package that reflects all conditions of Credit Approval.

Key Accountabilities:

1.     Supports Firestone’s Commercial Lending portfolio by coordinating documentation and deliverables for various complex loan closings, i.e. term loans, lines of credit, modifications and express loans. Ensures that all Credit Committee funding/closing requirements are met. Depending upon type of transaction, documentation may include promissory notes, guaranties, assignments, security agreements, subordination agreements, side letters, landlord waivers and consents, certificates of insurance, escrow agreements, etc. 60%

 

2.     Works in team environment with input from Sales staff, Operations personnel and other departments to manage pipeline and priorities. Communicates progress to and manages expectations of applicant/borrower, financing channel provider, equipment suppliers and vendors.  Ensures service level agreement metrics are met, loans are closed and funded on time and accurately, in accordance with the Company’s policies and procedures. Coordinates with sales staff and credit staff to address deficiencies. Works with external third parties and in-house counsel to finalize documentation/agreements.  10%

 

3.     Approves or denies loan proceeds disbursement within authorized limits. Maintains control of proper disbursement via wires, ACH or DDA accounts.  Provides complete and quality data for accurate loan booking and servicing. 20%

 

4.     Upholds data input quality in all Company systems to affect timely contract structuring and documentation, contract processing and funding, and to minimize negative impact on the applicants/borrowers or the Company. Responsible to rectify any inaccuracies or exceptions.   10%

 

5.     Other duties as required.

 

6.     Ensures compliance with all banking laws, rules regulations and prescribed polices/practices/procedures necessary to reduce risk and uphold ethical standards related to and required by one’s duties.

 

Education:

·       Bachelor’s degree in finance, economics, or business administration, or equivalent work experience.

·       Certificate in Paralegal Studies preferred

Experience:

·    5+ Years of loan closing experience in a commercial lending, real estate and/or leasing environment required

·    Knowledge of commercial loan covenants required

Skills & Knowledge:

  • ·       Proficiency in Microsoft Office programs (Word, Excel, Access)
  • ·       Strong verbal/written communication skills
  • ·       Ability to multitask
  • ·       Strong organizational skills
  • ·       Customer Service and detail-oriented
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