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Req ID:  5063
Location: 

Chicago, IL, US, 60631

Commercial Loan Closer

FT/PT:  Full-Time

First Midwest, with assets over $20 billion, is the premier relationship-based banking franchise in the dynamic Chicagoland banking market. As one of the Chicago metropolitan area's largest independent bank holding companies, First Midwest provides the full range of commercial, retail banking, and wealth management services through some 120+ offices located in communities in metropolitan Chicago, Northwest Indiana, Central and Western Illinois, Eastern Iowa, and Southeast Wisconsin. 

POSITION SUMMARY:

Facilitates the loan closing process, while providing high quality customer service.  Coordinates preparation of loan documents and ensures that documents are reviewed against the credit approval while complying with Bank Policy and Federal Regulations.  Reviews and gathers all due diligence and establishes that all compliance requirements are met prior to close.  Works and communicates with Customers, Relationship Managers, Underwriters and other third parties (title companies, appraisers, etc.) to ensure all commercial loan transactions are processed and documented in accordance with the terms and structure approved by FMB Credit Administration Policies.  Makes decisions, recommendations and provides guidance to Lenders and Admins for additional documentation as applicable.  Provides problem resolution and service to internal and external customers.

REQUIRED EDUCATION, EXPERIENCE AND SKILLS:

  • Associates Degree, High school diploma or equivalent work experience.
  • Minimum of 5 years of banking experience, primarily commercial loan document review experience or equivalent.
  • Minimum of 1 year complex loan document review experience.
  • Minimum of 2 years LaserPro experience.
  • Strong working knowledge of complex commercial loan documentation and letters of credit, including knowledge of the UCC and UCP as it is related to letters of credit.
  • Strong knowledge of bank policy and federal regulations, including Article 9 of the Uniform Commercial Code.
  • Banking-related classes/on-line training required: Banking Law, Consumer Compliance and Secured Lending and Loan Documentation.
  • Additional banking-related classes/seminars preferred: accounting, real estate, agricultural lending, trust, etc.
  • Strong written, verbal and interpersonal skills.
  • Strong problem solving/decision making skills.
  • Ability to handle multiple tasks simultaneously.
  • Ability to work well under deadline pressure.
  • Organized and detail oriented.
  • Position may require the need to travel to other branch or meeting locations. 

DUTIES/RESPONSIBILITIES:

  • Review and structure commercial loan documentation, including letters of credit and supporting documentation, to ensure that all loan documents are:
    • Complete and accurate
    • In compliance with federal regulations, compliant with terms and conditions as approved by the appropriate lending body
    • In adherence to FMB Credit Administration Policies prior to the disbursement of loan proceeds
    • Identify and report loan document exceptions appropriately
  • Maintain and monitor Letter of Credit files via the FIS System and review incoming documentation for proper payment when drafting a Letter of Credit.
  • Schedule and facilitate loan closings.  This includes working and communicating with customers, relationship managers, appraisers, attorneys, title company personnel and various other vendors to close every type of commercial loan in a timely manner.
  • Follow up on paid off loans to assure releases are prepared and FMB’s lien position is verified.
  • Collect good faith deposits.
  • Assist lending staff with the structuring of commercial loan packages.
  • Assist with the training of new staff and assist co-workers as needed.
  • Participate in all required training sessions for compliance.
  • Maintain adequate controls to ensure compliance with all federal regulations in defined area of responsibility.
  • Implement bank-directed policy and changes relating to regulatory amendments.
  • Provide outstanding customer service and display a positive attitude at all times.
  • Maintain outstanding quality service by meeting and/or exceeding established service level agreements.
  • Able to work with various software programs (i.e.: FIS, Word, Excel, LaserPro, OnBase, CRIF ACTion, CME, exception tracking systems, Loan IQ, etc.).
  • Assist with other duties as requested.

 

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.
Please view Equal Employment Opportunity Posters provided by OFCCP here and Supplement here.


Nearest Major Market: Chicago

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