What are the responsibilities and job description for the SBA Closing Specialist position at Regions?
Thank you for your interest in a career at Regions. At Regions, we believe associates deserve more than just a job. We believe in offering performance-driven individuals a place where they can build a career --- a place to expect more opportunities. If you are focused on results, dedicated to quality, strength and integrity, and possess the drive to succeed, then we are your employer of choice.
Regions is dedicated to taking appropriate steps to safeguard and protect private and personally identifiable information you submit. The information that you submit will be collected and reviewed by associates, consultants, and vendors of Regions in order to evaluate your qualifications and experience for job opportunities and will not be used for marketing purposes, sold, or shared outside of Regions unless required by law. Such information will be stored in accordance with regulatory requirements and in conjunction with Regions’ Retention Schedule for a minimum of three years. You may review, modify, or update your information by visiting and logging into the careers section of the system.
Job Description:
At Regions, the SBA Closing Specialist is responsible for managing the loan processing/closing process, from loan approval through booking and funding for SBA 7 (a), Express, and 504 government guaranteed loans. This includes working directly with and leading the coordination of SBA client borrowers, SBA Specialist, Assistants, internal staff, closing attorney firm, and applicable third parties (i.e. insurance companies) as required. The scope includes the collection, review, and approval of required documents, in addition to performing searches, preparing flood review packages, overseeing collateral perfection, and confirming satisfaction of equity requirements. Will be responsible for resolving any issues that come up during the closing process.
Primary Responsibilities
Reviews approved loan packages received from Underwriting to include credit memos, commitment letters, terms and conditions to ensure critical components have been provided by the lending officer for the documentation process
Manages the most complex transactions, requiring a high degree of autonomy and the ability to draw upon expertise and knowledge in the SBA documentation process
Accurately and quickly determines documentation requirements based on SBA SOP and Regions Credit Policy guidance
Creates and maintains the closing checklist
Trains and mentors more junior team members
Monitors Closing Team Portfolio for assignments and peer reviews
Coordinates and leads communications with the borrower, SBA Specialist, Assistants, internal staff, and closing attorneys
Sets up third party engagements commensurate with credit approval, including but not limited to attorneys, real estate and business appraisers, etc.
Identifies, requests, and reviews critical documents related to entity searches, UCC searches, flood determinations, construction financing, and other required supporting documentation and has authority to resolve key issues related to these pieces
Submits applications through the appropriate SBA systems (ETran and SBA One) for guaranty authorizations
Prepares various loan documents for closing
Prepares or coordinates the preparation of legal documents in response to issues discovered during the closing process to mitigate risks associated with SBA or Regions Program requirements
Confirms satisfaction of loan approval terms and equity requirements prior to closing
Ensures post-closing booking, funding, and title searches are properly administered and documented
Independently monitors loan packages throughout the process to identify potential risks related to the effective and efficient processing of the loan and to protect the Bank's interests
Maintains currency with SBA SOP requirements, procedures, and changes
This position requires the tracking of time and is eligible for overtime for hours worked in excess of 40 per week under the Fair Labor Standards Act.
Requirements
High School Diploma or GED
Six (6) years of SBA closing experience and knowledge of SBA loan program requirements or equivalent work experience
Advanced commercial credit knowledge including loan closing, legal documentation, construction financing, and exceptions
Expertise in reviewing insurance, title work, surveys, collateral, lien filings, appraisals, construction due diligence, and environmental reports
Experience working with commercial sales associates, underwriters, paralenders, insurance firms, and attorneys
Expertise in use of computers, Microsoft Office (Excel, Word, Outlook)
Experience with commercial loan systems
Preferences
Advanced knowledge of SBA's SOP requirements and regulations with ability to work on the most complex loan files
Specialized training in title, real estate, government programs (SBA), and specialized lending programs
Experience with nCino and/or related Salesforce platforms
Experience with SBA systems (ETran, SBA One, TSOFT)
Experience with LaserPro
Bachelor's degree or certification as a paralegal
Skills and Competencies
Demonstrated strong verbal and written communication skills for the purpose of explaining the loan closing process, exceptions and associated legal documentation to internal/external clients and appropriate counsel
Strong communication and interpersonal skills
Strong organizational skills and the ability to handle multiple tasks under tight time constraints
Position Type Full time
Compensation Details
Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.
The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.
Job Range Target:
Minimum: $67,250.00 USD
Median: $84,970.00 USD
Incentive Pay Plans: This job is not incentive eligible.
Benefits Information
Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.
Paid Vacation/Sick Time
401K with Company Match
Medical, Dental and Vision Benefits
Disability Benefits
Health Savings Account
Flexible Spending Account
Life Insurance
Parental Leave
Employee Assistance Program
Associate Volunteer Program
Please note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions’ benefits, please click or copy the link below to your browser.
https://www.regions.com/welcometour/benefits.rf
Location Details Riverchase Complex North Building
Location: Hoover, Alabama
Bring Your Whole Self to Work
We have a passion for creating an inclusive environment that promotes and values the differences that make each of us stand out as unique individuals and help provide valuable perspective that makes us a better company and employer. More importantly, we recognize that creating a workplace where everyone, regardless of background, can do their best work and thrive is the right thing to do.
OFCCP Disclosure: Equal Opportunity Employer/Disabled/Veterans
Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.
Regions is dedicated to taking appropriate steps to safeguard and protect private and personally identifiable information you submit. The information that you submit will be collected and reviewed by associates, consultants, and vendors of Regions in order to evaluate your qualifications and experience for job opportunities and will not be used for marketing purposes, sold, or shared outside of Regions unless required by law. Such information will be stored in accordance with regulatory requirements and in conjunction with Regions’ Retention Schedule for a minimum of three years. You may review, modify, or update your information by visiting and logging into the careers section of the system.
Job Description:
At Regions, the SBA Closing Specialist is responsible for managing the loan processing/closing process, from loan approval through booking and funding for SBA 7 (a), Express, and 504 government guaranteed loans. This includes working directly with and leading the coordination of SBA client borrowers, SBA Specialist, Assistants, internal staff, closing attorney firm, and applicable third parties (i.e. insurance companies) as required. The scope includes the collection, review, and approval of required documents, in addition to performing searches, preparing flood review packages, overseeing collateral perfection, and confirming satisfaction of equity requirements. Will be responsible for resolving any issues that come up during the closing process.
Primary Responsibilities
Reviews approved loan packages received from Underwriting to include credit memos, commitment letters, terms and conditions to ensure critical components have been provided by the lending officer for the documentation process
Manages the most complex transactions, requiring a high degree of autonomy and the ability to draw upon expertise and knowledge in the SBA documentation process
Accurately and quickly determines documentation requirements based on SBA SOP and Regions Credit Policy guidance
Creates and maintains the closing checklist
Trains and mentors more junior team members
Monitors Closing Team Portfolio for assignments and peer reviews
Coordinates and leads communications with the borrower, SBA Specialist, Assistants, internal staff, and closing attorneys
Sets up third party engagements commensurate with credit approval, including but not limited to attorneys, real estate and business appraisers, etc.
Identifies, requests, and reviews critical documents related to entity searches, UCC searches, flood determinations, construction financing, and other required supporting documentation and has authority to resolve key issues related to these pieces
Submits applications through the appropriate SBA systems (ETran and SBA One) for guaranty authorizations
Prepares various loan documents for closing
Prepares or coordinates the preparation of legal documents in response to issues discovered during the closing process to mitigate risks associated with SBA or Regions Program requirements
Confirms satisfaction of loan approval terms and equity requirements prior to closing
Ensures post-closing booking, funding, and title searches are properly administered and documented
Independently monitors loan packages throughout the process to identify potential risks related to the effective and efficient processing of the loan and to protect the Bank's interests
Maintains currency with SBA SOP requirements, procedures, and changes
This position requires the tracking of time and is eligible for overtime for hours worked in excess of 40 per week under the Fair Labor Standards Act.
Requirements
High School Diploma or GED
Six (6) years of SBA closing experience and knowledge of SBA loan program requirements or equivalent work experience
Advanced commercial credit knowledge including loan closing, legal documentation, construction financing, and exceptions
Expertise in reviewing insurance, title work, surveys, collateral, lien filings, appraisals, construction due diligence, and environmental reports
Experience working with commercial sales associates, underwriters, paralenders, insurance firms, and attorneys
Expertise in use of computers, Microsoft Office (Excel, Word, Outlook)
Experience with commercial loan systems
Preferences
Advanced knowledge of SBA's SOP requirements and regulations with ability to work on the most complex loan files
Specialized training in title, real estate, government programs (SBA), and specialized lending programs
Experience with nCino and/or related Salesforce platforms
Experience with SBA systems (ETran, SBA One, TSOFT)
Experience with LaserPro
Bachelor's degree or certification as a paralegal
Skills and Competencies
Demonstrated strong verbal and written communication skills for the purpose of explaining the loan closing process, exceptions and associated legal documentation to internal/external clients and appropriate counsel
Strong communication and interpersonal skills
Strong organizational skills and the ability to handle multiple tasks under tight time constraints
Position Type Full time
Compensation Details
Pay ranges are job specific and are provided as a point-of-market reference for compensation decisions. Other factors which directly impact pay for individual associates include: experience, skills, knowledge, contribution, job location and, most importantly, performance in the job role. As these factors vary by individuals, pay will also vary among individual associates within the same job.
The target information listed below is based on the Metropolitan Statistical Area Market Range for where the position is located and level of the position.
Job Range Target:
Minimum: $67,250.00 USD
Median: $84,970.00 USD
Incentive Pay Plans: This job is not incentive eligible.
Benefits Information
Regions offers a benefits package that is flexible, comprehensive and recognizes that "one size does not fit all" for benefits-eligible associates. Listed below is a synopsis of the benefits offered by Regions for informational purposes, which is not intended to be a complete summary of plan terms and conditions.
Paid Vacation/Sick Time
401K with Company Match
Medical, Dental and Vision Benefits
Disability Benefits
Health Savings Account
Flexible Spending Account
Life Insurance
Parental Leave
Employee Assistance Program
Associate Volunteer Program
Please note, benefits and plans may be changed, amended, or terminated with respect to all or any class of associate at any time. To learn more about Regions’ benefits, please click or copy the link below to your browser.
https://www.regions.com/welcometour/benefits.rf
Location Details Riverchase Complex North Building
Location: Hoover, Alabama
Bring Your Whole Self to Work
We have a passion for creating an inclusive environment that promotes and values the differences that make each of us stand out as unique individuals and help provide valuable perspective that makes us a better company and employer. More importantly, we recognize that creating a workplace where everyone, regardless of background, can do their best work and thrive is the right thing to do.
OFCCP Disclosure: Equal Opportunity Employer/Disabled/Veterans
Job applications at Regions are accepted electronically through our career site for a minimum of five business days from the date of posting. Job postings for higher-volume positions may remain active for longer than the minimum period due to business need and may be closed at any time thereafter at the discretion of the company.
Salary : $67,250 - $84,970
