Loan Closer

  • New York, NY
  • Full-time

Company Description

Israel Discount Bank of New York, also known by its registered service mark, “IDB Bank”, is a full service commercial bank chartered by the State of New York and a member of the Federal Deposit Insurance Corporation (FDIC). Our liquidity and capital ratios are strong, and we are ranked by Crain’s New York Business as the 24th largest commercial bank in the New York area.  the Bank provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex, sexual orientation, national origin, age, disability, genetic status, citizenship status, marital status, military or veteran status, current unemployment or any other legally protected category in accordance with applicable federal, state and local law.

Job Description

The Loan Closer position is new to the Bank as part of an effort to free up our front line officers, and to assure better oversight of loan closings and documentation.  The Loan Closer will work with the Account Officers and Legal Counsel to move transactions to closing in accordance with the approval and all documentary and collateral requirements.  They will assure that all requirements of the credit approval are obtained and incorporated in the loan documents and assure that all documents are properly executed and received by loan and credit operations.

- Review credit approval to ascertain whether all necessary corporate documents are obtained and pre-closing requirements are met.

- In conjunction with the Account Officer, Loan Closer will work with assigned Legal Counsel to make sure that the loan approval is received, and all pertinent points are understood, by counsel.

- Assure required collateral is received and necessary liens and filings are in order

- Assure required insurance has been received and is in proper form as required by the Bank and the approval.

-  Ability to interpret key structural issues of loan transactions.

- Review loan documents with the Account Officer and Legal Counsel, to assure all collateral, covenants and other pertinent points are covered.

- Work with Account Officer to prepare required closing memo and address any post-closing items.

- Assure all documentation is executed properly prior to funding.

- Coordinate the hand off to credit operations for all legal documentation, financial reporting requirements and any trailing, post-closing, legal or credit documents.

- Follow-up with Counsel/Account Officer for any post-closing items.

- Perform other duties, responsibilities, or special projects as assigned by department   management.

Qualifications

·         Accrued knowledge of Bank loan and security documentation

-         Experience in closing both Commercial and Industrial (C&I), Commercial Real Estate (CRE) loans and Syndicated Loans

-         Minimum of three years of experience in a similar role 

-         Familiarity with UCC law and insurance

-         Strong organizational, time management, communication skills and attention to detail

-         Highly adaptable and able to maintain composure in a fast-paced environment.

-        Ability to effectively multi-task and ability to troubleshoot and solve problems

-         Paralegal background preferred

Additional Information

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

All your information will be kept confidential according to EEO guidelines.

Due to COVID-19, most of our employees are working remotely. We have implemented a virtual hiring process and continue to interview applicants by phone or video and are onboarding new hires remotely. We value the safety of our employees because we’re all in this together.

NO AGENCIES PLEASE.

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