Banking Commercial Loan Settlement Officer - PA

Job Description

Job Description

A great banking experience starts with a great team! Mid Penn Bank is now hiring a Full-Time Commercial Loan Settlement Officer in Harrisburg, Malvern or Clearfield, PA.

We believe that our ongoing success depends upon a skilled, satisfied and valued work force. As a member of our team, you can expect opportunities to develop your skills to help you excel in your role and achieve your professional career goals. We offer a comprehensive range of flexible benefits to support your personal and financial well-being. Our inclusive culture encourages all employees to share ideas, collaborate, and contribute to the values that make us a winning team for our customers, shareholders, and communities.

Position Overview

The Commercial Loan Settlement Officer supports the commercial lending department by preparing, reviewing, and ensuring the accuracy and completeness of all loan documentation in accordance with internal policies, regulatory requirements, and loan approval terms. This role plays a critical part in the loan process by mitigating risk, maintaining data integrity, and ensuring a smooth loan closing and booking experience for customers and internal stakeholders. This individual supports complex commercial lending transactions and works closely with lenders, credit administration, attorneys, and closing agents to ensure timely and accurate loan closings while fully delivering on the organization’s Unwavering Service Standards. The Commercial Loan Settlement Officer demonstrates advanced knowledge of commercial loan structures and the ability to interpret and work with attorney-prepared documentation. 

Essential Duties and Responsibilities

• Works with attorneys, title companies, etc. to coordinate closings, order surveys, as necessary, and make sure all necessary mortgage documentation is completed and delivered in a timely manner
• Collaborates with lenders, attorneys, and title companies to resolve documentation discrepancies or issues prior to closing.
• Coordinates the end-to-end loan closing and settlement process for commercial loans, participations, SWAPS, and syndicated credit facilities.
• Reviews approved loan packages to ensure all terms and conditions are satisfied prior to closing.
• Reviews closing documents, including loan, participation and syndication agreements, promissory notes, and settlement statement to ensure alignment with approved credit terms.
• Reviews necessary documents when received from attorney or Title Company for accuracy prior to closing.
• Verifies receipt and accuracy of required documentation, including insurance, title, and collateral records.
• Prepares loan documentation related to loan settlements in accordance with all current government regulations, policies and procedures.
• Performs second checks of loan documentation packages, as needed.
• Resolves discrepancies or documentation issues prior to funding.
• Orders and reviews title work for loans when necessary
• Issues closing instructions to settlement agent or attorney
• Prepares loan closing documents for portfolio loans
• Makes corrections to closing documents and gets corrected documents signed and processed, as necessary, and in a timely manner
• Calculates funding amounts, validate allocation of loan shares, funding amounts, and fee distributions among participating institutions
• Provides training to other department personnel as required
• Monitors pipeline to ensure timely closings and adherence to deadlines.
• Manages multiple loan files simultaneously, ensuring all conditions and required documents are obtained proactively
• Maintains an acceptable error rate in loan file reviews while managing a high-volume pipeline
• Assists immediate supervisor with various administrative tasks to support department operations, as directed; may also be assigned special projects
• Coordinates specific work tasks with other personnel within the department as well as with other departments in order to ensure the smooth and efficient flow of information.
• Responds to inquiries relating to his/her particular area, or to requests from customers, other company personnel, etc., within given time frames and within established policy
• Maintains accurate and organized loan files to support audits, quality control reviews, and regulatory examinations
• Maintain detailed records of all closing and finding activities
• Communicates with department management, other department managers, and appropriate staff personnel in order to integrate goals and activities
• Maintains confidentiality of customer information.
• Escalates issues to management as necessary.

Education & Qualifications

• A high school diploma or equivalent with an emphasis in business curriculum. Paralegal Certification, or similar training, is highly preferred.
• A minimum of four (4) years’ related experience and an understanding of commercial loan products and collateral are normally required. 
• Proficiency in reviewing and interpreting attorney-prepared legal documents.

  Skill(s)

Proficient reading, writing, grammar, and mathematics skills; proficient interpersonal relations and communicative skills; strong understanding of commercial loan structures, collateral, and regulatory compliance requirements; above average knowledge of loan documentation, banking operations, and loan servicing; familiarity with loan documentation software, loan origination systems, and banking regulations; strong attention to detail and organizational skills; ability to manage multiple priorities and work under deadlines; ability to sit, stand, walk, bend, stoop, reach with hands or arms, use hands to manipulate objects, handle or feel, and lift items weighing 20 lbs. or less; visual, auditory and speaking skills.

Equipment/Machines

• Telephone
• Calculator
• PC
• Printer
• Fax machine
• Copy machine

Pay Transparency

We set standard salary ranges for our roles based on the position, function, and responsibilities, as benchmarked against similarly sized companies in our industry. Specific compensation offered will be determined based on a combination of factors including the candidate’s knowledge, skills, depth of work experience, and relevant licenses/credentials. The salary range may vary based on geographic location.

Benefits

Mid Penn Bank offers a comprehensive benefits package to those who qualify. This includes medical plans with prescription drug coverage; flexible spending account, dental and vision insurance; life insurance; 401(k) program with employer match and employee stock purchase plan; paid time off, paid holidays; disability insurance coverage, parental leave; employee assistance program; and tuition reimbursement.

In addition, all employees are eligible to participate in mentorship programs, receive individualized development and career counseling, and participate in Mid Penn University courses and development programs.

EEO Statement

Qualified applications are considered without regard to race, color, age, sex, sexual orientation, gender identity, religion, national origin, genetic information, pregnancy, disability, or protected veteran status.  We also comply with all applicable laws governing employment practices and do not discriminate on the basis of any unlawful criteria. 

Equal Opportunity Employer- Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity

Sponsorship Statement

As a condition of employment, individuals must be authorized to work in the United States without sponsorship for a work visa by Mid Penn Bank currently or in the future.