Calculated Hire
Deal Specialist
Base pay range $30.00/hr - $34.00/hr
6 month contract (potential for extension)
Location: Chicago, IL (hybrid - 2x a week onsite)
Requirements:
Review legal documentation against credit approval to ensure deal terms are documented as approved.
Structure the terms of the deal in LoanIQ, the loan system
Obtain closing borrowing base (if applicable), and board to loan system
Run Flood Determinations for any real property taken as collateral, and enforce flood regulatory requirements in preparation for deal closing
Obtain and review internal funds flow documentation to account for funds at closing
Verify AML KYC has been completed prior to close
Obtain Conditions Precedent and ok to fund from Portfolio Manager
Provide funds flow and closing package to Loan Servicing, and advise servicing on any special handling
Track for receipt of closing documentation and ongoing borrow compliance (financials, borrowing base, etc.)
Proactively follow up with Portfolio Managers and analysts to obtain all document exceptions and borrower compliance
Review Borrower Compliance Certificates for pricing impact
Update LoanIQ concurrently with revised ratio and advise Loan Servicing of pricing change
Prepare LC Checklist and provide to Letter of Credit department. Advise LC department of any changes to pricing or terms throughout the life of the deal
Review closing binder and/or loan documentation closing package for completeness, and track for receipt of any missing documents
Manage deal collateral, especially margined collateral (Borrowing Base), UCC’s, Real Estate collateral & possessory collateral, including:
Track for receipt of Borrowing Base & update borrowing base figures in LoanIQ
Track expiry of UCC’s, obtain approval to continue or terminate, then continue or terminate as instructed using CT Lien
Understand real estate collateral. Accountable for flood insurance regulatory compliance including ensuring all flood due diligence is complete prior to loan closing. Ordering flood determinations, tracking flood determination expiry, boarding real estate collateral to LoanIQ. Understand impact of real estate on fed call code and proper boarding to LoanIQ
Board all possessory collateral to LoanIQ, for retention in vault
Receive notice of approval for non-lending products and advise product booking locations of approval
Review and approve LoanIQ & APMS transactions for junior staff and peers
Maintain APMS system, including processing of approved Annual Reviews, Risk Rating changes, Rating Alert raise and clear, entity static credit information maintenance, create and maintain credit connections, etc.
Monitor and action both LoanIQ and APMS exception reports on an ongoing basis
Serve as subject matter expert in the loan closing process and LoanIQ product structuring
Participate in audits
Provide input on process and procedures, participate in documentation and revision of P&Ps
Provide training and mentoring to junior staff
Ensure timely processing of transactions to minimize risk and re-work, and to meet and exceed customer expectations
Skills/ Qualifications:
Bachelor’s degree or equivalent experience
5-7 years’ experience in commercial lending operations with closing experience preferred
Experience with LoanIQ desired but not required
Operations experience with Dealer Floor Planning, Asset Based Lending or Equipment Finance is a plus
Strong knowledge of Microsoft Excel, Word, Adobe and Outlook
Solid knowledge of flood regulation
Strong analytical and problem-solving skills
Strong investigation and prioritization skills
Strong customer service and relationship management skills
Strong written and oral communication skills
Ability to multi-task in a fast-paced environment
Seniority level Associate
Employment type Contract
Job function Accounting/Auditing, Quality Assurance, and Research
Industries Banking
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Base pay range $30.00/hr - $34.00/hr
6 month contract (potential for extension)
Location: Chicago, IL (hybrid - 2x a week onsite)
Requirements:
Review legal documentation against credit approval to ensure deal terms are documented as approved.
Structure the terms of the deal in LoanIQ, the loan system
Obtain closing borrowing base (if applicable), and board to loan system
Run Flood Determinations for any real property taken as collateral, and enforce flood regulatory requirements in preparation for deal closing
Obtain and review internal funds flow documentation to account for funds at closing
Verify AML KYC has been completed prior to close
Obtain Conditions Precedent and ok to fund from Portfolio Manager
Provide funds flow and closing package to Loan Servicing, and advise servicing on any special handling
Track for receipt of closing documentation and ongoing borrow compliance (financials, borrowing base, etc.)
Proactively follow up with Portfolio Managers and analysts to obtain all document exceptions and borrower compliance
Review Borrower Compliance Certificates for pricing impact
Update LoanIQ concurrently with revised ratio and advise Loan Servicing of pricing change
Prepare LC Checklist and provide to Letter of Credit department. Advise LC department of any changes to pricing or terms throughout the life of the deal
Review closing binder and/or loan documentation closing package for completeness, and track for receipt of any missing documents
Manage deal collateral, especially margined collateral (Borrowing Base), UCC’s, Real Estate collateral & possessory collateral, including:
Track for receipt of Borrowing Base & update borrowing base figures in LoanIQ
Track expiry of UCC’s, obtain approval to continue or terminate, then continue or terminate as instructed using CT Lien
Understand real estate collateral. Accountable for flood insurance regulatory compliance including ensuring all flood due diligence is complete prior to loan closing. Ordering flood determinations, tracking flood determination expiry, boarding real estate collateral to LoanIQ. Understand impact of real estate on fed call code and proper boarding to LoanIQ
Board all possessory collateral to LoanIQ, for retention in vault
Receive notice of approval for non-lending products and advise product booking locations of approval
Review and approve LoanIQ & APMS transactions for junior staff and peers
Maintain APMS system, including processing of approved Annual Reviews, Risk Rating changes, Rating Alert raise and clear, entity static credit information maintenance, create and maintain credit connections, etc.
Monitor and action both LoanIQ and APMS exception reports on an ongoing basis
Serve as subject matter expert in the loan closing process and LoanIQ product structuring
Participate in audits
Provide input on process and procedures, participate in documentation and revision of P&Ps
Provide training and mentoring to junior staff
Ensure timely processing of transactions to minimize risk and re-work, and to meet and exceed customer expectations
Skills/ Qualifications:
Bachelor’s degree or equivalent experience
5-7 years’ experience in commercial lending operations with closing experience preferred
Experience with LoanIQ desired but not required
Operations experience with Dealer Floor Planning, Asset Based Lending or Equipment Finance is a plus
Strong knowledge of Microsoft Excel, Word, Adobe and Outlook
Solid knowledge of flood regulation
Strong analytical and problem-solving skills
Strong investigation and prioritization skills
Strong customer service and relationship management skills
Strong written and oral communication skills
Ability to multi-task in a fast-paced environment
Seniority level Associate
Employment type Contract
Job function Accounting/Auditing, Quality Assurance, and Research
Industries Banking
#J-18808-Ljbffr