IDL Closing Administrator

OceanFirst Bank Job Opportunity

At OceanFirst Bank, each one of our employees plays an important role in delivering value to our customers and executing daily tasks in accordance with our core values. We recognize that our employees are essential to our success, making OceanFirst a great place to work and do business.

Great benefits include on-site fitness facility at Red Bank and Toms River headquarter offices, employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to make an impact in the local community!

About Your Role

This position provides para-professional support to the Loan Closing Department in connection with facilitating the closing of commercial and business banking loans. Primary duties include handling of pre-closing loan due diligence ordering, analysis and final review and documentation oversight support under the supervision of the Closing Administrator Team Lead. The commercial closing administrators are responsible for the oversight and completion of the internally documented loan closing processes for the Bank's Commercial Lending and Business Banking departments. This process includes initial review of term sheets and loan approvals for loan closing and documentation requirements and due diligence closing checklist requirements; review and analysis of loan due diligence responses; preparation of title/search review letters; compliance review of prepared loan documents for new and modified commercial and business banking loans in accordance with the Bank's policies and procedures; and final sign off for loan closings. Responsibilities also include provision and/or oversight of administrative support for all aspects of Commercial and Community Banking Loan due diligence and documentation for closings as required by the Closing Administrator Team Lead. This position may assist the Associate General Counsel in directing the activities of the Loan Documentation Specialist's responsibilities.

What You Will Do

• Review of executed term sheets and credit approval documents to determine due diligence requirements and prepare pre-closing due diligence checklists for Loan Documentation Specialist use and external closing agent requirements.
• Review of title insurance binders, supplemental searches, surveys, metes and bounds descriptions and entity documents to ensure conformance with the loan approval, conditions and requirements of the bank's term sheets and checklists for closing.
• Compliance and/or final review of form loan documentation based on the loan requirements and due diligence results.
• Communicate with Loan Documentation Specialists, post-closing department personnel, loan officers, Bank management, outside attorneys and title agents regarding closing requirements, problems and deficiencies with closing requirements and loan status.
• Performs follow up to ensure outstanding due diligence items are collected, corrected, and completed prior to clearing loans for closing.
• Review and approve loan modification agreements, lien release agreements, subordination agreements and various other loan related documents at the discretion of the Closing Administrator Team Lead.
• Work with commercial credit to create outstanding post-closing loan documentation requirements and deadlines, when necessary.
• Review and approve post-closing submissions.
• This position may assist the Closing Administrator Team Lead in directing the activities of the Loan Documentation Specialist's responsibilities.

What We Expect Of You

• Banking documentation and due diligence requirements skills and working knowledge and understanding of terms and concepts in specialized areas, including real estate, mortgage, commercial law, estates and trusts and legal transactions.
• Exceptional drafting and proof-reading skills.
• Proficiency with MS Word and general knowledge of Excel.
• Must be extremely detail oriented with excellent written, verbal, and interpersonal skills.
• Well organized and efficient, and able to prioritize, multi-task and meet multiple deadlines.
• Ability to multitask, work independently, give direction to team members, and handle a fast-paced work environment.

Your Qualifications

Associate degree and/or Paralegal certificate preferred or equivalent work experience. Minimum of five years of commercial lending and real estate transaction closing experience with a financial institution or with a law firm representing a commercial lending group are required.

Internal contact with all departments and divisions. External contact with closing attorneys and title agents, search companies, closing and servicing departments.

Office environment. Ability to operate computer. Ability to communicate in order to exchange simple to complex information with individuals and groups. Ability to travel throughout Bank footprint.