IDB Bank
Loan Closer
IDB Bank, Los Angeles, California, United States, 90079
Company Description
For more than 70 years, IDB Bank has made it our mission to be the best bank for our clients by putting their needs first, and the success we’ve enjoyed fundamentally comes down to our people. Here at IDB, you’ll work side by side with some of the most talented professionals in the industry who share a strong sense of teamwork and a passion for providing exceptional service down to the smallest detail. We offer a comprehensive benefits package that includes generous paid time off and the ability to participate in our medical coverage and 401(k) plan on your very first day with us. We are also committed to diversity and inclusion, and to providing all of our team members with an equal opportunity to succeed and make meaningful contributions within a work environment that is respectful, welcoming and inclusive.
Job Description
The Closer is responsible for ensuring the accurate and timely closing of commercial loans. This role involves coordinating with various departments, preparing closing documents, and managing the closing process to ensure compliance with bank policies and regulatory requirements.
Key Responsibilities :
Prepare and review closing documents for commercial loans: CRE, Construction, C&I and unsecured line of credits.Coordinate with underwriting, legal, compliance, and other departments to ensure all conditions are met prior to closing.Independently manage the review of the preliminary title report, resolve issues and request the appropriate endorsements for the final policy.Communicate with borrowers, attorneys, and third parties to facilitate smooth loan closings.Ensure all loan documentation is complete and accurate.Manage the closing calendar and schedule closing dates.Conduct final reviews and quality checks on closing packages.Ensure compliance with all regulatory requirements and internal policies.Resolve any issues that arise during the closing process.Maintain accurate records of closed loans and update loan management systems.
Qualifications
Bachelor’s degree in finance, business administration, or a related field.Minimum of 5 years of experience in commercial loan closing.Strong knowledge of commercial loan products and closing procedures.Excellent organizational, communication, and problem-solving skills.Ability to manage multiple tasks and meet deadlines.
Preferred Qualifications :
Paralegal certification or related legal background.
Compensation:
The expected annual salary for this position is between $85,000 - $110,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills and experience. In addition to base salary, our total rewards package also includes eligibility for an annual bonus, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.
Additional Information
The Bank will make reasonable accommodations to the following employees to allow them to perform the essential functions of their position, except where doing so would result in undue hardship to the Bank:
Those with a known mental or physical disability.Pregnant individuals and/or individuals with pregnancy or childbirth-related medical conditions.Victims of domestic violence, sex offenses or stalking.Employees with religious observance and practice obligations.
Any employee who believes he or she needs an accommodation for any of the above reasons should contact their supervisor or a member of Human Resources to request such an accommodation. In each case, the Bank will engage in a good faith written or oral dialogue concerning the individual’s accommodation needs; potential accommodations that may address the individual’s accommodation needs, including alternatives to a requested accommodation; and the difficulties that such potential accommodations may pose for the employer.
The Bank retains the ultimate discretion to choose the appropriate reasonable accommodation. Upon reaching a final determination at the conclusion of the cooperative dialogue, the Bank will provide the requesting individual with a written final determination identifying any accommodation granted or denied. In addition, the Bank will maintain any information regarding the employee’s request and status in the strictest confidence, except as requested by the employee, as required on a need-to-know basis or as otherwise required by law.
Disclaimer
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.
All your information will be kept confidential according to EEO guidelines.#J-18808-Ljbffr
For more than 70 years, IDB Bank has made it our mission to be the best bank for our clients by putting their needs first, and the success we’ve enjoyed fundamentally comes down to our people. Here at IDB, you’ll work side by side with some of the most talented professionals in the industry who share a strong sense of teamwork and a passion for providing exceptional service down to the smallest detail. We offer a comprehensive benefits package that includes generous paid time off and the ability to participate in our medical coverage and 401(k) plan on your very first day with us. We are also committed to diversity and inclusion, and to providing all of our team members with an equal opportunity to succeed and make meaningful contributions within a work environment that is respectful, welcoming and inclusive.
Job Description
The Closer is responsible for ensuring the accurate and timely closing of commercial loans. This role involves coordinating with various departments, preparing closing documents, and managing the closing process to ensure compliance with bank policies and regulatory requirements.
Key Responsibilities :
Prepare and review closing documents for commercial loans: CRE, Construction, C&I and unsecured line of credits.Coordinate with underwriting, legal, compliance, and other departments to ensure all conditions are met prior to closing.Independently manage the review of the preliminary title report, resolve issues and request the appropriate endorsements for the final policy.Communicate with borrowers, attorneys, and third parties to facilitate smooth loan closings.Ensure all loan documentation is complete and accurate.Manage the closing calendar and schedule closing dates.Conduct final reviews and quality checks on closing packages.Ensure compliance with all regulatory requirements and internal policies.Resolve any issues that arise during the closing process.Maintain accurate records of closed loans and update loan management systems.
Qualifications
Bachelor’s degree in finance, business administration, or a related field.Minimum of 5 years of experience in commercial loan closing.Strong knowledge of commercial loan products and closing procedures.Excellent organizational, communication, and problem-solving skills.Ability to manage multiple tasks and meet deadlines.
Preferred Qualifications :
Paralegal certification or related legal background.
Compensation:
The expected annual salary for this position is between $85,000 - $110,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills and experience. In addition to base salary, our total rewards package also includes eligibility for an annual bonus, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.
Additional Information
The Bank will make reasonable accommodations to the following employees to allow them to perform the essential functions of their position, except where doing so would result in undue hardship to the Bank:
Those with a known mental or physical disability.Pregnant individuals and/or individuals with pregnancy or childbirth-related medical conditions.Victims of domestic violence, sex offenses or stalking.Employees with religious observance and practice obligations.
Any employee who believes he or she needs an accommodation for any of the above reasons should contact their supervisor or a member of Human Resources to request such an accommodation. In each case, the Bank will engage in a good faith written or oral dialogue concerning the individual’s accommodation needs; potential accommodations that may address the individual’s accommodation needs, including alternatives to a requested accommodation; and the difficulties that such potential accommodations may pose for the employer.
The Bank retains the ultimate discretion to choose the appropriate reasonable accommodation. Upon reaching a final determination at the conclusion of the cooperative dialogue, the Bank will provide the requesting individual with a written final determination identifying any accommodation granted or denied. In addition, the Bank will maintain any information regarding the employee’s request and status in the strictest confidence, except as requested by the employee, as required on a need-to-know basis or as otherwise required by law.
Disclaimer
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.
All your information will be kept confidential according to EEO guidelines.#J-18808-Ljbffr