Commercial Loan Closing Specialist

About the Role

The Commercial Loan Closing Specialist is responsible for reviewing and organizing all necessary documentation to finalize commercial loan transactions. This includes ensuring accuracy, compliance with regulations, and coordinating with various parties involved, such as lenders, borrowers, and legal teams. The role involves meticulous attention to detail and a thorough understanding of commercial loan terms including legal concepts, collateral acceptability, and final closing conditions.

The Commercial Loan Closer initiates and drives the loan closing process while managing and expediting complex and concurrent processes. Expertise in review and interpretation of deal structures and legal documentation, along with resolving "gray areas," is required. The role also involves close collaboration with Underwriters and Relationship Managers to resolve outstanding issues and facilitate smooth, timely closings.

Responsibilities

• Provide leadership and guidance to the deal team, ensuring cohesion and effective collaboration.
• Ensure strict adherence to regulatory requirements (such as Flood and OFAC) and industry standards (such as Construction Monitoring and specialized business needs) throughout the loan closing process.
• Identify and escalate complex lending issues that may arise during the closing process, collaborating with stakeholders to find solutions.
• Identify opportunities to enhance efficiency and effectiveness in the loan closing process and implement improvements.
• Engage with clients, lenders, and legal teams to facilitate smooth and transparent communication during closing stages.
• Assess and mitigate potential risks associated with commercial loan transactions to protect the institution’s interests, colleagues, and borrowers.
• Implement quality control measures to guarantee the accuracy and completeness of loan documentation.
• Engage business partners in strategic decision-making related to the commercial loan closing process.

Qualifications

• Bachelor’s Degree (required).
• 5+ years of experience in Commercial Banking Loan Administration (required).

Skills

• Communication Skills: Effectively communicate with stakeholders, including lenders, borrowers, and internal/external teams.
• Detail-Oriented: Meticulously review Credit Approvals and draft loan documentation to ensure accuracy, error-free compliance with policy.
• Time Management: Manage a large loan portfolio with multiple tasks and deadlines to ensure timely completion of loan closings.
• Problem-Solving: Proactively identify and escalate discrepancies during the loan closing process.
• Partner Collaboration and Service Excellence: Provide excellent service to internal and external clients throughout the closing process.
• Technical Proficiency: Utilize loan management software and tools to streamline processes and maintain accurate records.
• Adaptability: Adjust to changes in procedures, regulations, or industry practices to ensure ongoing effectiveness.

Workplace Type

This is an office-based role. Huntington offers a hybrid work arrangement for eligible positions outside the branch network, combining in-office and remote work. Specific arrangements will be provided by the hiring team.

Huntington will not sponsor applicants for immigration benefits, including work authorization for F-1 students, H-1B professionals, O-1 workers, TN workers, E-3 workers, or other immigration statuses. Applicants must be currently authorized to work in the United States on a full-time basis.

Pay

The compensation range for this position is $57,000.00 - $113,000.00 annually. Actual compensation will vary based on factors such as location, experience, and education. Colleagues in this role are also eligible to participate in an applicable incentive compensation plan.

Benefits

• Health insurance coverage.
• Wellness program.
• Life and disability insurance.
• Retirement savings plan.
• Paid leave programs, holidays, and paid time off (PTO).