Sr. Custom Loan Specialist

Job Title

As a global leader in innovative wealth management, asset servicing, asset management and banking services, Northern Trust is proud to guide the world's most successful individuals, families, corporations and institutions.

Since 1889, we have aligned our efforts with our three guiding Principles That Endure: Service, Expertise, and Integrity. Together, they reflect the three cornerstones of business conduct which we strive to instill in our employees, whom we call partners, and to provide to our clients and the communities we serve worldwide.

With more than 135 years of financial experience and over 24,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.

Major Duties

• Determines the legal, regulatory, compliance and bank policy documents needed to finalize all loan transactions 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 the banks computer application software and standard bank legal templates for new, renewed and increased consumer, personal real estate and commercial loans. Reviews complex, externally prepared legal documents and understands all terms and conditions required for closing
• Reviews organizational documents to determine correct legal name and authority to enter into and execute legal documentation. Reviews complete legal documentation prior to execution to ensure accurate depiction of loan terms and that documentation meets compliance with all applicable regulations
• Determines the appropriate level of borrower and collateral due diligence required for each loan transactions and works to collect all required documents including but not limited to KYC/OFAC, Flood Determinations, UCC searches, Good Standing Certificates, Title Commitments, etc.
• Acts as a resource for relationship team for highly complex loan transactions. Interacts with legal department, outside law firms and account officers to clarify unfamiliar or non-standard loan documentation
• Prepares internal booking forms and collateral set ups needed for boarding loans. Submits completed loan packages that include all necessary compliance, regulatory and bank policy documents along with all executed loan documents to the Loan Documentation Unit for funding approval and booking
• Prepares summary reports of each existing loan audited for review by division and appropriate senior management
• Develops and recommends new procedures and operational controls to protect loan documentation and customer information
• Develops and maintains working knowledge of all loan products and collateral types and is proficient in the different requirements of each. Trains new hires or junior team members as needed
• Analyzes possible solutions using technical experience and judgment and precedents
• Impacts quality of own work and the work of others on the team
• Works within guidelines and policies

Knowledge

• Knowledge of personal and commercial loan documentation usually acquired through previous experience in loan documentation
• Strong knowledge of requirements for commercial real estate and syndicated loan transactions.
• Knowledge of commercial banking systems usually acquired through experience is required to extract information from various systems for analysis
• Strong knowledge of regulatory requirements for personal and commercial loans
• Analytical, problem solving and computer skills are required to analyze documentation, identify deficiencies, understand collateral procedures and work with bank databases
• Good communication skills are required to consult with attorneys, relationship managers and other parties regarding loan documentation issues and loan closings
• Requires expanded conceptual knowledge in own job discipline
• Explains complex information to others in straightforward situations

Experience

• At least 5 years' experience or equivalent in the commercial banking/secured lending industry.
• Provides informal guidance to new team members

Work Authorization

Applicants must be authorized to work in the U.S. without the need for employment-based visa sponsorship now or in the future. Northern Trust will not sponsor applicants for U.S. work visa status for this opportunity (no sponsorship is available for H-1B, L-1, TN, O-1, E-3, H-1B1, F-1, J-1, OPT, CPT or any other employment-based visa).

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 committed to an inclusive workplace and assisting the communities we serve.

Philanthropy is deeply rooted in Northern Trust's history and is an essential element of our culture. Employees around the world give their time and talent to work for the greater good of their communities.

Reasonable Accommodation

Northern Trust is committed to working with and providing adjustments to individuals with health conditions and disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at View email address on click.appcast.io, or alternatively you can discuss your individual requirements with the recruiter you are working with.