What are the responsibilities and job description for the Closing & Disbursement Specialist II position at Exchange Bank?
ESSENTIAL FUNCTIONS:
Closing and Disbursement Specialist II
Quality Control:
- Ensure review of Construction, Land Development, Residential, SBA, Commercial and Mortgage loans and Lease documents signed with all conditions met prior to funding/disbursement.
- Ensure file, credit memo, loan documents and escrow instructions are accurate and queued for funding/disbursement
- Serve as liaison between title and escrow officers, Bank and client attorneys, loan participation banks, appraisers, environmental firms, customers, various Bank department team members and others as needed.
- Review preliminary report and title policy exception/easements and legal descriptions for pre-closing and post-closing documents to ensure they meet and satisfy bank policy.
- Monitor the appraisal review, flood insurance, and other insurance requirements for loan pre-closing.
- Ensure all closing documents are in balance and fully compliant once loan is closed. Enter into loan tracking system for appropriate follow up.
- Work with department management team to follow up on internal audit and outside examination exceptions as needed.
Funding:
- Fund new loan packages via cashiers check, deposit, credit, or wire as required; disburse credit line funds to borrower’s accounts (advances), after determining that proper protocol and authority has been met
- Prepare/Process and submit ACH and Wire fundings and disbursements for approval in a timely and compliant manner as needed.
- Issue payoff statements to Title Companies on construction and land development loans and ensure that repayments are processed accurately by the Loan Service Center.
Non-Essential Functions:
- Perform other duties as assigned.
MINIMUM QUALIFICATIONS
Knowledge, Skills and Abilities:
- Intermediate knowledge of Commercial Real Estate, Mortgage lending, Construction, SBA and Consumer loan closing and disbursement/funding methodology and procedures.
- Intermediate knowledge of regulatory compliance requirements.
- Intermediate knowledge and understanding SBA SOP.
- Skills operating a personal computer particularly Microsoft Office Suite (Word, Outlook, Excel) and Web/Internet usage.
Physical Requirements:
- Ability to stand, bend, stoop, sit, walk, twist and turn.
- Ability to lift up to 25 pounds occasionally.
- Ability to use a computer keyboard and calculator.
- Work environment is indoors, majority of the time is spent sitting at a desk.
Education and Experience:
A combination of education and experience equivalent to an associate’s degree in business or related field; and/or knowledge typically gained through a minimum of two years of experience in Construction, Commercial, and/or Residential lending.
Compensation:
The hiring range for this position is $25.00 to $33.10 per hour. The salary offered will fall within this range commensurate with the candidate’s applicable experience, education, and skills.
Salary : $25 - $33
