Overview:
Responsible for ensuring completion and delivery of commercial closing capabilities for all assigned loans. Serves as the first line of defense (1LoD), adhering to necessary controls to mitigate unnecessary exposure to risk. Responsible for closing each loan in an accurate and timely manner. Works as part of the account relationship team/deal team as the primary closing point of contact for RMs, Attorneys and Clients once term sheets are issued, with the specific responsibility to arrange for each loan to be documented and closed with the correct borrowing parties and per the agreed upon collateral and deal terms approved, in an accurate and timely manner.
Primary Responsibilities:
Responsible for closing each loan to the correct borrowing parties and per the agreed upon collateral and deal terms approved.
Primary point of contact on the deal team, for closing, once term sheets are issued, works with internal and external stakeholders to set and update closing expectations and eventually issue the 'Clear to Close' followed by verification that remaining closing capabilities are carried out in an accurate and timely manner, culminating with a handoff to the post close review team and relationship liaison.
Identifies and outlines loan closing documentation and due diligence requirements for each loan, ensuring clear communication to and from internal and external sources; plans accordingly, and works in tandem with assigned Closing Officer on the deal to meet scheduled closing date. Promptly advises stakeholders of any identified issues, delays, or changes to the anticipated closing date. Upon receipt and final acceptable review of Commercial Closing Checklist from Closing Officer verifies all required documents are complete and accurate, and necessary data to close, fund (including dual controls properly addressed) and book have been captured correctly, then provides the deal team/relationship team a 'Clear to Close' and confirms closing plan (Date, Location, Parties Attending etc.).
Acts as the closing point of contact for involved parties to resolve issues and provide understanding around loan documentation and due diligence.
Works with approved Bank counsel (as appropriate), as well as other Bank partners, to finalize the documenting, funding, and booking of the loan in accordance with Bank policies and procedures.
Partners with designated team and other internal and external stakeholders to address discrepancies/issues found during due diligence, loan documentation, loan closing and review processes. Escalates issues as appropriate. Then coordinates with co-workers and Team Leader to troubleshoot and resolve escalated problem situations, exception requests, and deviations from day-to-day business processes.
Review loan documents after closing for complete and proper execution; once review is complete and deemed acceptable, notification to Closing Officer that closing is complete and documents are received and acceptable, providing a copy so that Closing Officer can arrange funding and booking.
Completes the Post Close Review subsequent to booking, (usually within 7-10 days after closing) and when satisfactory then makes a handoff to the post close review team and relationship liaison.
Communicate and collaborate effectively with other departments and business partners in the Bank to establish exemplary partnerships with all co-workers and create a positive team environment.
Manages time to be able to meet deadlines while potentially working with multiple partners on multiple and/or concurrent closing requests.
Attends all Deal Team meetings related to loans assigned for closing.
Reports customer complaints to the Office of Customer Advocacy when appropriate.
Understand and adhere to the Company's risk and regulatory standards, policies, and controls in accordance with the Company's Risk Appetite. Identify risk-related issues needing escalation to management.
Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
Promotes an environment that supports a culture of belonging and reflects the M&T Bank brand.
Completes other related duties as assigned.
Scope of Responsibilities:
The Commercial Closing capabilities include the following five functions: 1) validation of pre-close due diligence items, 2) arranging for and reviewing commercial loan documentation, 3) confirming alignment of the credit approval, loan documents and the loan system, along with finalizing the settlement sheet, the loan closing, and review of executed documents, 4) arranging and confirming loan funding, and 5) completion and submission of required data for loan booking followed by conducting and documenting a post-closing review.
Responsible for providing approval of Clear to Close to the deal team/relationship team, confirmation of closing plan (Date, Location, Parties Attending etc.), receipt, review, and verification of executed documentation from closing and then provide the documentation to the Closing Officer to proceed with funding and booking. Subsequent to the funding and booking, will receive a copy of the Post Close Review from Closing Officer to validate and then will make a handoff to the post close review team and relationship liaison.
Incumbent is viewed and expected to be a technical expert on the Commercial Closing process.
Supervisory/Managerial Responsibilities:
Provides coaching, leadership and mentoring to colleagues.
Education and Experience Required:
Bachelor's degree plus a minimum of four (4) years commercial loan closing, commercial
loan documentation or commercial loan operations, or commercial loan administration
experience or in lieu of a degree, a combined eight (8) years' higher education and/or work
experience, to include four (4) years' commercial loan closing, commercial
loan documentation or commercial loan operations, or commercial loan administration
experience.
Previous work leadership experience.
Specific knowledge of the commercial closing process and procedures, loan documentation, loan policy, applicable regulations, and affiliated technology.
Familiarity with Loan Approvals and Escalation/Exception Requirements, and potentially other approvals needed for closing.
Ability to work individually as well as a member of a team.
Self-motivated, well-organized individual with excellent attention to detail and critical thinking skills.
Strong interpersonal skills necessary for business partner relationships within and outside organization.
Ability to work under time constraints and handle multiple tasks in support of various assignments.
Solid verbal and written communication skills.
Knowledge of unit/department policies and procedures.
Education and Experience Preferred:
Knowledge of applicable products, systems, and workflows.
Paralegal experience helpful as well as experience in lending operations, underwriting and customer service.
Physical Requirements:
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $39.47 - $65.78 Hourly (USD). The successful candidate's particular combination of knowledge, skills, and experience will inform their specific compensation.
Location
Radnor, Pennsylvania, United States of America
M&T Bank Corporation is an Equal Opportunity/Affirmative Action Employer, including disabilities and veterans.
