What are the responsibilities and job description for the Commercial Loan Closing Manager ~ Boston, MA position at Bank Rhode Island?
Principal Objective
The Commercial Loan Closing Manager is responsible for reviewing all documentation related to a commercial loan transaction. This process is crucial for ensuring that all legal and financial aspects of the transaction are properly documented and completed consistently and in accordance with the credit approved terms and conditions. This position will work most closely with the Relationship and Portfolio Managers, Commercial Administration and outside counsel. The Commercial Loan Closing Manager may take on the additional responsibility of managing a small team of Lending Assistants. The main function is to ensure all necessary documentation and legal requirements are completed accurately and efficiently with regulatory and credit policies.
Principal Duties and Responsibilities
Pipeline : Track and schedule all loan closing and loan modifications over $3MM with Relationship Managers, Portfolio Managers and closing Attorneys.
- Attend Management Loan Committee meetings
- Ensure all conditions pre and post approval have been noted and satisfied
- Communicate any changes to closing date with Relationship Manager, Portfolio Manager and Loan Assistant
Review Documents : Coordinate with Relationship Managers and Bank Counsel to gather necessary information and documentation for loan closing. Review all relevant documents, such as contracts, agreements, invoices, and legal forms to ensure accuracy and completeness.
Loan Sales : Ensure that banking partners have been committed before closing and review Participation Agreement.
Signing Contracts : Parties involved in the transaction will need to sign contracts and agreements to formalize their commitments and obligations.
Legal Compliance : Ensure that all legal requirements and regulations are met, including any necessary permits, licenses, or regulatory filings.
Record-Keeping : Properly organizing and storing all documentation related to the loan closing.
Communications : Inform all relevant stakeholders, including clients, partners, and employees, about the successful completion of the transaction.
Post-Closing Actions : Depending on the nature of the transaction, there may be additional post-closing actions required, such as asset transfers, employee onboarding, or integration activities.
Final Review : Conduct a final review to confirm that all necessary steps have been completed and that all parties are satisfied with the outcome.
Job Specifications (Skills, Knowledge and Abilities Required)
Behavioral Skills :
