Sr. Custom Loan Specialist
Company: Northern Trust Corp
Location: Miami
Posted on: October 8, 2024
Job Description:
Sr. Custom Loan Specialist Apply remote type Hybrid locations
Miami, FL time type Full time posted on Posted 2 Days Ago job
requisition id R127822 About Northern Trust: Northern Trust, a
Fortune 500 company, is a globally recognized, award-winning
financial institution that has been in continuous operation since
1889. Northern Trust is proud to provide innovative financial
services and guidance to the world's most successful individuals,
families, and institutions by remaining true to our enduring
principles of service, expertise, and integrity. With more than 130
years of financial experience and over 22,000 partners, we serve
the world's most sophisticated clients using leading technology and
exceptional service. We have a balanced hybrid working model to
ensure you get the flexibility you need, and the successful
candidate will spend their time between working in the office and
working from home. Under general supervision (but works
independently most of the time) the Custom Loan Specialist will be
responsible for the preparation of commercial loan documentation
and/or review of attorney prepared commercial loan documentation.
Works closely with relationship banking staff on complex loan
transactions to ensure all necessary terms and conditions are
understood and assures that documentation of the corporation's loan
portfolio is complete and accurate to protect bank assets.
Determines documentation needed for loan facilities based on review
of the credit approval package, prepares and reviews legal
documents to ensure accuracy, coordinates loan closings and
prepares loan boarding forms for set up on the banks loan system.
Develops and recommends new procedures and operational controls to
protect loan documentation and customer information. Participates
in training of new hires and junior team members. Uses specific
knowledge of a discipline to achieve goals through own work. Has
specific knowledge or expertise typically gained through formal
education or equivalent experience. Continues to build knowledge of
the company, processes and clients. Key Responsibilities
Include:
- Determines the legal, regulatory, compliance and bank policy
documents needed to finalize all loan transactions to ensure that
they support the approved loan structure and comply with Corporate
Credit Policy, internal legal guidelines and meet all regulatory
compliance standards.
- Prepares legal documents using the banks computer application
software and standard bank legal templates for new, renewed and
increased consumer, personal real estate and commercial loans.
Reviews complex, externally prepared legal documents and
understands all terms and conditions required for closing.
- Reviews organizational documents to determine correct legal
name and authority to enter into and execute legal documentation.
Reviews complete legal documentation prior to execution to ensure
accurate depiction of loan terms and that documentation meets
compliance with all applicable regulations.
- Determines the appropriate level of borrower and collateral due
diligence required for each loan transaction and works to collect
all required documents including but not limited to KYC/OFAC, Flood
Determinations, UCC searches, Good Standing Certificates, Title
Commitments, etc.
- Acts as a resource for relationship team for highly complex
loan transactions. Interacts with legal department, outside law
firms and account officers to clarify unfamiliar or non-standard
loan documentation.
- Prepares internal booking forms and collateral set ups needed
for boarding loans. Submits completed loan packages that include
all necessary compliance, regulatory and bank policy documents
along with all executed loan documents to the Loan Documentation
Unit for funding approval and booking.
- Prepares summary reports of each existing loan audited for
review by division and appropriate senior management.
- Develops and recommends new procedures and operational controls
to protect loan documentation and customer information.
- Develops and maintains working knowledge of all loan products
and collateral types and is proficient in the different
requirements of each. Trains new hires or junior team members as
needed.
- Analyzes possible solutions using technical experience and
judgment and precedents.
- Impacts quality of own work and the work of others on the
team.
- Works within guidelines and policies. The successful candidate
will benefit from having:
- Knowledge of personal and commercial loan documentation usually
acquired through previous experience in loan documentation.
- Strong knowledge of requirements for commercial real estate and
syndicated loan transactions.
- Knowledge of commercial banking systems usually acquired
through experience is required to extract information from various
systems for analysis.
- Strong knowledge of regulatory requirements for personal and
commercial loans.
- Analytical, problem solving, and computer skills are required
to analyze documentation, identify deficiencies, understand
collateral procedures and work with bank databases.
- Good communication skills are required to consult with
attorneys, relationship managers and other parties regarding loan
documentation issues and loan closings.
- Requires expanded conceptual knowledge in own job
discipline.
- Explains complex information to others in straightforward
situations.
- At least 5 years' experience or equivalent in the commercial
banking/secured lending industry.
- Provides informal guidance to new team members. Working with
Us: As a Northern Trust partner, greater achievements await. You
will be part of a flexible and collaborative work culture in an
organization where financial strength and stability is an asset
that emboldens us to explore new ideas. Movement within the
organization is encouraged, senior leaders are accessible, and you
can take pride in working for a company committed to assisting the
communities we serve! Join a workplace with a greater purpose. We'd
love to learn more about how your interests and experience could be
a fit with one of the world's most admired and sustainable
companies! Build your career with us and apply today.
#MadeForGreater Reasonable accommodation Northern Trust is
committed to working with and providing reasonable accommodations
to individuals with disabilities. If you need a reasonable
accommodation for any part of the employment process, please email
our HR Service Center at MyHRHelp@ntrs.com. We hope you're excited
about the role and the opportunity to work with us. We value an
inclusive workplace and understand flexibility means different
things to different people. Apply today and talk to us about your
flexible working requirements and together we can achieve
greater.
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Keywords: Northern Trust Corp, Margate , Sr. Custom Loan Specialist, Other , Miami, Florida
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