ASSISTANT VICE PRESIDENT, LOAN SERVICING, CLOSING TEAM

ASSISTANT VICE PRESIDENT, Loan Servicing, closing team

 

Responsible for all phases of the closing process of credits in which the Bank’s role is either the administrative agent, direct lender (bilateral) or participant.   Functions include but not limited to review of draft and final documentation, disbursement of funds at closing, booking facilities and initial loan advances, processing of assignments for the primary syndication and applying closing fees.   Review of outstanding items in reconciliation and exception reports in accordance with departmental time frame and policies.  Participate in the LoanIQ project, assisting with the set-up, testing and implementation of the system and assisting in the development of appropriate workflows.

 

KEY POINTS OF RESPONSIBILITY:

 

·         Provide expertise in the establishment of new facilities by the Bank and their operational set-up

 

·      Participating in pre-closing meetings and proactive involvement with the marketing groups overseeing new closings

 

·      Review draft / final closing documents to ensure that all required information has been provided for the closing and servicing of the transaction

 

·      Communicate in an effective manner with the different areas involved in the closing process to resolve any document deficiencies or deviations from the approved policies and procedures

 

·      Review of borrowing/funding instructions received from customer, Front/Middle Offices or agent bank for completeness, accuracy and intent 

 

·      Work closely with Front/Middle Office or Syndicate to ascertain receipt of lenders’ admin details, final allocation and breakdown of fees prior to closing

 

·      Accurate preparation of all pertinent forms required to facilitate the closing process, e.g. loan authorizations, FALS file

 

·      Timely and accurate production of closing / funding notices to borrower and lenders utilizing (currently) the FALS and Topcall applications

 

·      Prompt and accurate disbursement of payments associated with the closings as instructed in fund flow, borrowing or funding notice

 

·      Accurate and timely Midas System (currently) booking of new facilities and initial loan advances for borrower(s) and lenders (if applicable)

 

·      Correct processing of the Bank’s closing fees e.g. arrangement, upfront, agency fees, in Atlas2 (currently) and remittance of fees due to lenders

 

·      Process post-closing assignments related to primary syndication

 

·      Provide reconciliation tapes for cash disbursement accounts and notices for syndication suspense account activity to the Reconciliation Team.  Review the reconcilement of cash disbursement accounts post-closing.  Reconcile open items, address discrepancies and exceptions if needed (e.g. ALM, failed MAG interface)

 

·      Prepare Facility and Participants folders in accordance with established guidelines.  Request issuance of CUSIP number if applicable for new credit / facilities.  Complete Post-Closing Details / Handoff form and participate in the Handoff meeting with Agency Team Leader and administrator to discuss the deal prior to delivery of files

 

·         Assist Team Leader in the management of and training of staff in all aspects of the closing process/documentation

 

·         Play an active role in the implementation of the LoanIQ loan processing system, including assisting with testing of the system, update/development of procedures appropriate to the new processing environment and participation in the implementation process

 

 

 

 

 

 

 

Qualifications:

  4 – 5 years Agency, Closing or other relevant experience Proven ability to review and interpret credit agreements and other documentation applicable to the closing process Good understanding of Loan Product including working in a largely manual environment. PC proficiency in Windows environment, MS Office products – Excel essential.  Loan IQ experience essential Good written and verbal communication skills Organized, disciplined and structured approach to work

·         Motivated and positive attitude A self-starter with the ability to prioritize multiple objectives, and work under time pressure constraints handling high but erratic volumes Ability to take ownership for tasks and follow these tasks through to completion Able to build strong working relationships with internal groups to ensure good communication and efficient business flow

·         Ability to exercise good judgment in dealing with customers while maintaining compliance with established policies and controls

·         Clearly and immediately communicates problems/issues to Team Leader or Manager