Commercial Lending Closing Specialist

Background

Self-Help started in 1980 with a focus on economic inequality especially in communities that have faced systemic barriers in building wealth. At the core of what Self-Help does is a drive to create and protect ownership and economic opportunity. In other words, we’re committed to economic justice! Economic Justice means that all communities have the basic infrastructure they need to thrive, from high quality schools to grocery stores selling fresh foods resources that support opportunity at a neighborhood level regardless of demographics, income, or wealth. Since our founding, we’ve constantly sought to find new ways to pursue greater economic justice: from providing fair and affordable loans, to working with partners to demand that lawmakers change unjust policies.

Summary

The Commercial Loan (CL) Closing Specialist provides critical functions to enable loan origination by Self-Help’s Commercial Lending Team to occur smoothly and as planned. The CL Closing Specialist is responsible for guiding and managing loan closings to completion using checklist tools, proactively prompting other teammates to ensure deadlines are met, collection and quality control of all closing documents, and ensuring all loans are originated in compliance with internal credit policies, procedures, and regulations. Commercial loans range in size and complexity, including multi-million-dollar real estate-based loans to small business loans.

Responsibilities

Project management of the closing process for commercial loans, including:

• Proactively coordinating people and managing the closing process with stakeholders including loan officers, credit officers, attorneys, and borrower representatives.
• Maintaining and updating checklist and other tools to facilitate document collection
• Ensuring key parties (internal and external) meet deadlines.
• Communicating closing needs clearly with internal and external parties, including providing direct guidance with borrowers’ counsel or title companies.
• Consulting with SH internal legal counsel as needed.
• Completing key tasks with other teams (e.g., retail for necessary account set ups).
• Ensure quality of closing items/documents and compliance with procedures.
• Assessing transactional documents (e.g., corporate documents, insurance documents) for accuracy, and, especially for smaller loans, creating certain legally binding documents (e.g., promissory notes, summaries of loan terms) that accurately address diverse situations and secure different types of collateral.
• Help creatively solve problems for non-traditional borrowers and deal situations.

Ensure quality data system setups and data management, including:

• Booking/closing loans in our systems of record, and updating records as needed.
• Maintaining pipeline data accuracy for quality in reporting.

Conduct post-closing activities, including:

• Setting up loans and ensuring data integrity in systems of record.
• Following up with key parties (internal and external) for necessary documents to complete electronic and hard files.

Conduct disbursement activities, including:

• Ensuring appropriate ACH, loan payments, and account relationships are established.
• Performing disbursement/wire requests, and creating accompanying documentation to be accurate and compliant with procedures.

Perform other duties as may be necessary to ensure accurate and timely loan origination and closings including, but not limited to:

• Other critical functions to enable loan origination and portfolio management.
• Assist with preparing for auditor/examiner reviews including ensuring proper files and documentation is available as may be needed.
• Facilitate documentation collection and compliance with credit enhancement programs utilized (e.g., USDA or SBA guaranty programs).
• Supporting and contributing to ongoing process improvements.

Requirements

• Associates degree in related field OR equivalent related experience and a minimum of 2 years’ of related work experience.
• Experience as a commercial loan closer for a financial institutional; as a commercial real estate paralegal for a law firm; or in commercial loan operations or servicing for small business, commercial real estate, or construction loans preferred.
• Strong customer service orientation for both internal and external customers.
• Ability to form and maintain strong and trusting relationships, and exercise discretion, with internal and external partners.
• Strong analytical skills with demonstrated ability to research/learn new information and apply it from one transaction to another.
• Keen attention to detail.
• Strong organizational skills and ability to effectively plan and prioritize work independently and as a team; and exercise independent judgement to meet deadlines.
• Strong oral and written communication skills.
• Working knowledge and experience with Microsoft Office applications including Word and Excel, as well as ability to learn new software systems.
• Strong commitment to our mission – creating economic opportunity for traditionally underserved communities.
• Preference for working in organizations that place priority on teamwork and collaboration.
• Ability and willingness to work beyond normal work hours, occasionally required.
• Fluency in English/Spanish preferred.

Compensation and Benefits

Competitive nonprofit compensation, based on experience, plus a generous benefits package. Compensation ranges for each position are based on local market rates and will be determined by geography, role, and experience.

Salary range for Chicago, IL: $66,400 – $99,600

How to Apply

Visit this website to apply.