Custom Loan Specialist

Miami, Florida, United States; Chicago, Illinois, United States; Phoenix, Arizona, United States
20 May 2022
07 Jun 2022
Contract type
Full time
Experience level
Qualified accountant

The Custom Loan Specialist is responsible for preparing the proper loan documents for the corporation's Wealth Management loan portfolio.

  • Determines documentation needed for new loans and renewed loans based on review of credit approval sheet, prepares loan documents and reviews docs to ensure accuracy, coordinates loan closings and sets up loans on the loan system.
  • Develops and recommends new procedures and operational controls to process loan documentation and collateral set ups.
  • Determines the legal, regulatory, compliance, and administrative documents needed to finalize all new, renewed, and increased loans 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 computer application software and standard bank legal templates, for new, renewed and increased consumer, personal, real estate and commercial loans.
  • Determines appropriate level of borrower and collateral due diligence and works with due diligence team to collect all required documents needed for the loan transaction (UCC searches, title commitments, good standing, OFAC, Flood Determination).
  • Reviews organizational documents to determine correct legal name and authority to enter into and execute legal documentation, review completed legal documentation prior to execution to ensure accurate depiction of loan terms and that documentation meets compliance with all applicable regulations.
  • Interacts with legal department, outside law firms and account officers to clarify unfamiliar or non-standard loan documentation.
  • Prepares booking forms and collateral set up sheets for boarding loans.
  • Before loan funding is allowed, determines the level of waiver action required when proper documentation is not available at closing.
  • Submits completed loan packages to Loan Documentation Unit for funding approval and boarding.
  • Develops and recommends new procedures and operational controls to protect loan documentation and customer information.
  1. 3-5 years loan documentation preparation experience
  2. Must have 2-3 years’ experience using Laser Pro legal documentation software or similar application in the financial or legal industry
  3. Knowledge of personal and commercial loan documentation usually acquired through previous experience in loan documentation
  4. Strong knowledge of requirements for commercial real estate and construction loans is preferred; knowledge of and experience with Laser Pro Documentation System preferred or knowledge and experience with preparing word based loan documentation
  5. Experience and familiarity in, reviewing title commitments, setting up closings, reviewing and processing flood determinations and reviewing lien waivers is required
  6. Strong knowledge of regulatory requirements related to real estate, OFAC and KYC preferred. Knowledge of commercial banking systems usually acquired through experience is required to extract information from various systems for analysis
  7. Analytical and computer skills are required to analyze documentation, identify deficiencies, understand collateral procedures, and work with system databases
  8. Good communications skills are required to consult with attorneys, relationship managers and other parties regarding loan documentation issues

About Northern Trust:

Northern Trust provides innovative financial services and guidance to corporations, institutions and affluent families and individuals globally. With more than 130 years of financial experience and over 20,000 partners, we serve the world’s most sophisticated clients using leading technology and exceptional service.

Working with Us:

As a Northern Trust partner, you will be part of a flexible and collaborative work culture, which has a strong history of financial strength and stability. Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company that is committed to strengthening the communities we serve!

We’d love to learn more about how your interests and experience could be a fit with one of America’s best banks and most sustainable companies! Build your career with us and apply today.

For further information, and to apply, please visit our website via the “Apply” button below.

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