Fifth Third Bank ยท 2 days ago
Commercial Loan Closing Specialist
Cincinnati, OH
Full-time
Onsite
Entry, Mid Level
$53K/yr - $110K/yr
2+ years expFifth Third Bank is a financial institution that connects great people to great opportunities. They are seeking a Commercial Loan Closing Specialist responsible for overseeing the due diligence and documentation process for commercial loans, ensuring compliance with credit approval conditions and coordinating with various stakeholders to meet closing expectations.
BankingCommercial LendingFinanceFinancial ExchangesFinancial ServicesLendingMedia and EntertainmentMortgage
Responsibilities
Receives, reviews, and analyzes draft and final credit approval/credit memo from underwriter or portfolio manager and determines due diligence requirements
Analyzes and interprets the loan approval to determine borrower, collateral, guarantor and loan requirements
Control point to confirm evidence of sufficient lending authority obtained on the credit approval
Manages workload by monitoring newly received loans as well as tracking work in process
Orders and/or interprets supplemental vendor due diligence information to ensure borrower, collateral and guarantor requirements are met and ensures production of appropriate documentation in compliance with all terms of the loan request such as: title commitment / title search, UCC (Uniform Commercial Code) search, evaluation or real estate appraisal, environmental questionnaire, RSRA/Transaction Screens or evaluation (phase I/II), flood determination and other regulatory or compliance items, proof of insurance documents, survey, and entity documents
Ensures adherence to the Bank's risk tolerance or escalates appropriately
Promptly and accurately determines when all underwriting approval conditions for the loan closing have been satisfied. Takes appropriate remedial actions to Resolve deficiencies and Escalates questions/disputes to appropriate level when necessary
Determines closing date expectations and advises sales and credit of obstacles that May impede meeting client expectations
Coordinates efforts to establish the closing date and time with all parties concerned including internal and external attorneys (as applicable), title companies, external customer and relationship manager or financial center manager
Coordinates efforts to engage and finalize preparation of loan documents by internal and external counsel in a timely manner
Reviews loan documents and identifies/resolves shortfalls to insure alignment with the deal structure and credit approval
Understands all business entity structures and obtains/reviews entity documents to determine authorized parties that can bind the entity to the loan transaction
Proactively contacts customers directly to obtain required documentation and when facilitating closing date/times, when applicable
Collaboratively works with and shares knowledge with internal partners and divisions
Understands, determines and obtains appropriate Approval for compliance requirements, such as commercial customer identification Program (CIP), Reg. U, consumer purpose, Flood, etc
Understands and makes determination of appropriate loan coding needed for portfolio and Regulatory reporting purposes, such as loan purpose, collateral type, obligation type, etc
Demonstrates and appropriately applies a working knowledge of diverse commercial loan documentation, Legal & Regulatory requirements (including unique state regulations), policies and procedures, and applies that knowledge
Obtains and Understands all funding information and creates and/or reviews the settlement Statement providing direction for the disbursement of loan proceeds
For internally prepared loans, makes the final determination that all due diligence has been completed, final credit approval has been received, all policies and regulations have been met. Upon this determination, notifies sales, credit, title company, etc. of due diligence complete status and requests document preparation for the loan closing for attorney prepared loans, makes the final determination that all due diligence has been completed, final credit approval has been received, all closing conditions, policies and regulations have been met. Upon this determination, notifies sales, credit, title company, outside counsel, etc. of authorization to close the transaction. The loan closing cannot occur without this final LCS decision
Works directly with outside counsel on externally prepared commercial loan documentation, acting on the bank's behalf to review all loan documentation and confirms all due diligence items are addressed by bank or attorney, if applicable
Provides guidance and Support to business Partners in order to Meet the needs of external customers
Able to coach business Partners on the Retail business banking and commercial lending loan closing Process
Interacts and communicates daily with all levels, including financial center employees, supporting business unites, relationship managers, credit, underwriters, document preparation, REVG, title companies, 3rd parties, attorneys, flood vendors to ensure
Ensures all individual and departmental goals and service level agreements (SLAs) are met
Stays current with and applies credit policy and procedures to all transactions to mitigate risk to the Bank
Reviews appropriate loan accounting system and Identifies discrepancies between system structure and credit approval structure and works with credit to resolve
Other duties as assigned
Qualification
Required
2 years of commercial banking/commercial real estate loan experience with a focus on due diligence and loan documentation
High school diploma or equivalent
Strong time management and organizational skills evidenced in previous assignments
Demonstrates an understanding of applicable bank policies and procedures as they pertain to the satisfaction of loan closing conditions as well as vendor documents and services
Strong knowledge of most common vendor documents title work, appraisals, flood determinations, lien searches
Strong knowledge of loan documents and requirements
Strong knowledge of commercial lending and loans
Thorough understanding of all business banking and commercial loan products
Thorough knowledge of business banking and commercial lending credit policy/guidelines
Thorough knowledge of loan documentation, collateral evaluation, lien perfection, local, state and federal regulatory requirements
Strong personal computer skills with demonstrated knowledge of Microsoft Excel, Word, and email
Self-starter and works with minimal direction
Strong verbal and written communication skills
Strong negotiation skills
Strong interpersonal skills and team orientation
Ability to meet deadlines under pressure
Ability to appropriately escalate issues requiring problem solving and decision making
Preferred
Bachelors degree preferred
Thorough knowledge of B2B, CCAS, AFS, RIMS, CHQ, loan Doc Prep system (or equivalent vendor systems), and other banking systems preferred
Benefits
Comprehensive benefits
Incentive compensation plan
Company
Fifth Third Bank
Fifth Third Bancorp is a financial services company that specializes in small business, retail banking, and investments. It is a sub-organization of Fifth Third Bank.
10001+ employees
H1B Sponsorship
Fifth Third Bank has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2021 (2)
2020 (43)
Funding
Current Stage
Public CompanyTotal Funding
unknown1978-01-13IPO
Leadership Team
B
Bryan Preston
Chief Financial Officer
Maria Holmes
VP, Senior Manager Corporate Sponsorship
Recent News
2026-01-06
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