Pay Rate: $0
Location: Chicago IL
Job Type: Contract
POSITION: Commercial Loan Closer
LOB: Capital Markets and US P&C Commercial 
START DATE: ASAP
DURATION: 3 months 
HOURS: M - F - 8 - 5, with an hour lunch, 
LOCATION: downtown, Chicago, IL
Dress Code: Business Casual 
GROUP/PROJECT: 
It's a team of 10, plus the manager. 8 of them are agency closers. They are closing deals syndicated loans. This team is responsible for coordinating all of the closer information with those other banks. This Commercial Loan Closer will be coordinating and drafting of legal documentation, reviewing loan documentation to ensure they reflect the terms of the credit approval, perfecting collateral position, ensuring compliance with regulatory requirements, facilitating deal closing process, structuring deal on loan system, and the ongoing tracking and monitoring of legal and compliance documentation. Ultimately they will be assisting the closers with some of the tasks involved in the process. They will be the point person for posting financial documents. 
  RESPONSIBILITIES INCLUDE (but are not limited to):
  • Review legal documentation against credit approval to ensure deal terms are documented as approved.
  • Structure the terms of the deal in LoanIQ, the loan system.
  • Manage deal collateral, especially margined collateral (Borrowing Base), UCC’s, Real Estate collateral & possessory collateral
  • Coordinate with member banks in the deal, including obtaining Admin Details Forms for each lender and maintain lender contact info & lender allocations in the loan system.
  • Prepare internal funds flow documentation to account for funds at closing, including payment & distribution of fees, reimbursables, expenses, distribution of loan proceeds, and gather all supporting documentation.
  • Prepare lender reallocation spreadsheets as deals are amended, including reallocation of loan outstandings among the bank group, advise bank group of new pro-rata percentages and shares, net to/from funding amounts, and distribute to lenders in coordination with deal refinancing or amendment.
  • Proactively follow up with Portfolio Managers and analysts to obtain all document exceptions and borrower compliance

TOP SKILLS/EXPERIENCE: 
  • 1-2 years experience in commercial lending operations. 
  • Syndications and/or closing experience 
  • Strong knowledge of Microsoft Excel - basic spreadsheets, formulas, spreadsheet navigation
  • Solid knowledge of Outlook, Word, Adobe
NICE TO HAVE:
  • Bachelor’s degree 
  • Experience with LoanIQ
  • Commercial real estate experience
  • Solid knowledge of Flood regulation
  • Financial Institution experience is preferred
SOFT SKILLS:
  • Strong analytical and problem-solving skills 
  • Strong investigation skills 
  • Strong prioritization skills 
  • Strong customer service and relationship management skills 
  • Strong conflict management/ resolution skills 
  • Strong written and oral communication skills 

EDUCATION/CERTIFICATIONS: 
-University degree/college diploma is an asset
 

For immediate consideration, send your word.doc resume to berthatrujillo@ifgpr.com and reference job#26772-1 .