Business Lending Closer I

General Summary

This position is responsible for new business loan processing and supporting the Business Lending Originations team with post-approval functions up to and including closings. Administrative functions to include but not limited to, scanning, record management/maintenance, and report generation. This position will also serve as a liaison between the credit union and business lending CUSO.

Essential Functions

• Organize, assemble and verify accuracy of business loan documents and ensure files are up to date with all necessary documentation, proper signatures, dates and other relevant data.
• Manage the final business lending files/folders and coordinate with the lending scan department for file requests.
• Check documents for proper vesting, legal description, closing dates, signatures and collateral lien recordation. Track and obtain as needed.
• Post-approval, prepare loans for closing through correspondence with attorneys, lenders, insurance agents, CUSO, etc.
• Track and resolve document exception issues, such as recorded mortgages, title insurance, and UCC filings for assigned loans.
• Coordinate and attend meetings, work functions, loan closings, and general member appointments as requested/required.
• Maintain departmental calendar for business lender(s) appointments, and closings
• Request/obtain/order credit reports, business credit reports, flood certifications, property reports, business entity search, UCC filing search, appraisals, and title insurance.
• Disburse on each loan and line of credit as outlined by disbursement instructions.
• Update and monitor new loan activity report and loan pipeline accordingly.
• Order and maintain office supplies for the business lending department.
• Print, mail, and/or email necessary documents to business members, as needed or as requested.
• Gather Originations reports, and assist in the preparations of meeting packets.
• Answer business members’ questions via telephone, e-mail and in person requiring knowledge of departmental processes, procedures, and policies.
• Reconcile GL accounts for fees and disbursements that pertains to Originations functions.
• Provide credit union support and serves as a liaison to branches on all business lending functions. Also works with staff on cross-divisional issues.
• Maintain current knowledge of the Erie FCU Business Lending Loan Policy and internal lending procedures.
• Maintain an understanding of business structures, business financials, and cash flow analysis/ratios.
• Assist in providing loan packages, loan documents, and responses for internal audits, third-party audits, and NCUA exams.
• Performs all duties in accordance with prescribed business banking regulatory compliance guidelines. Ensures all business loan relationships are in full compliance with applicable federal and state laws and regulatory guidelines are in compliance with Credit Union policies.
• Maintain current knowledge of and compliance with all Credit Union policies and procedures, including compliance with the Bank Secrecy Act and all federal laws and regulations as set forth by the NCUA and other regulatory agencies.
  
  

NOTE: The list of essential functions is not exhaustive. It may be supplemented as necessary.

Additional Functions

• Keeps abreast of appropriate laws and regulations affecting business lending at the credit union in general and the extension of business credit in particular. Attends relevant courses and seminars to build expertise as necessary.
  
  

JOB SPECIFICATIONS

• Requires professional, well-developed interpersonal, speaking and writing skills for communicating with businesses, members, co-workers, vendors and other individuals involved in the business lending process.
• Requires completion of high school education.
• Requires at least one year of experience in a financial institution with lending experience. Business lending support experience preferred.
• Must be a notary public or willing to obtain notary public status.
• Must possess intermediate technology skills, including knowledge of Microsoft Office products, database and spreadsheet applications.
• Intermediate mathematical skills required.
• Present a positive, professional image at all times.
• Strong decision-making skills, excellent organizational skills, and the ability to work independently.
  
  

Physical Requirements

Sitting = Continuous Crawling = Occasional

Standing = Frequent Climbing = Occasional

Walking = Frequent Balancing = Occasional

Driving an automobile = Occasional Reaching Overhead =Occasional

Lifting/Carrying = Occasional Reaching Forward = Occasional

Amount of Weight = 15 to 25 lbs. Kneeling = Occasional

Squatting = Occasional Push/Pull = Occasional

Bending = Occasional Twisting = Occasional

DISCLAIMER

The above information on this description has been designed to indicate the general nature and level of work performed by employees in this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of employees assigned to this job.