Senior Associate, Commercial Closing

About the role

The Associate Closer will assist the Head of Commercial Closing and the Commercial Closing Team with managing the commercial real estate finance transaction closing process from the commencement of the application process through the final disposition of the loan and/or collateral. This includes facilitating administrative and operational tasks related to the large balance commercial real estate group, such as vendor management, cash management, deposit account bank processes, and transaction servicing.

Responsibilities

• Negotiate and draft Non-Disclosure Agreements for brokers and clients.
• Manage the post-closing repurchase financing process, including coordination of due diligence materials delivery to the repurchase lender and their counsel, and obtaining custodial receipts.
• Oversee the lease review process with outside vendors, underwriting teams, and outside counsel, employing quality control procedures for all major leases.
• Perform initial internal reviews of leases as needed.
• Coordinate the closing day funding process with internal finance and treasury teams.
• Manage the post-closing securitization process, including delivery of due diligence to loan sellers’ counsel and the issuer team, and payment coordination for third-party brokers.
• Support post-closing asset management, harmonizing with the large balance commercial asset management team and the affiliated Silver Hill Loan Servicing Team.
• Assist with loan portfolio bidding and closing processes.
• Track payments to outside counsel and circulate tracking spreadsheets to the general counsel’s office.
• Manage final cloud-based legal and underwriting asset files for all loans.
• Administer the vendor on-boarding process, coordinating with in-house counsel and vendor management teams.
• Update proprietary pipeline management and underwriting systems for loan transaction management.
• Coordinate confirmation of receipt of good faith deposits from clients.
• Assist outside counsel and the Head of Commercial Closing with the cash management process, including on-boarding and coordination with deposit account and cash management banks.
• Administer insurance reviews, including engagement of third-party insurance consultants and coordination with borrowers’ insurance brokers.
• Oversee the KYC process in conjunction with the underwriting team and outside counsel, assisting clients with completing credit certifications for applicable individuals and entities.
• Prepare closing statements in coordination with the underwriting team, borrower, title company, and outside counsel, including completing internal spreadsheets, calculating reserves, and tracking invoices.
• Synchronize the release of third-party reports to brokers and clients for “dead” and closed transactions.

Requirements

• Associate’s Degree or Bachelor’s Degree.
• Minimum of 3-7 years of experience working for a lender, law firm, title company, or commercial real estate brokerage firm in a role related to the commercial real estate closing process.
• Must be a notary or willing to obtain notary status in New York within 3 months of start date.

Skills

• Advanced knowledge of the commercial real estate lending closing process, including experience working with outside counsel, borrowers, loan underwriters, and originators.
• Proficiency in Microsoft Office Suite, with mastery of Microsoft Excel, including the ability to build basic formulas used in commercial real estate lending.
• Excellent written and verbal communication skills.
• Detail-oriented, organized, and self-motivated with the ability to meet multiple time-sensitive deadlines.
• Willingness and ability to learn new processes and procedures quickly and under pressure.
• Ability to solve problems independently while keeping key team members updated.

Pay

Base compensation is expected to be $125,000–$160,000 with the opportunity for a performance-based bonus.

Schedule

This is an onsite role based in Bayview’s New York, NY office.