Commercial Closing Administrator

Job Description

Job Description

The location for this role is either Portsmouth, NH or Needham, MA

 

Job Summary: The Commercial Closing Administrator is responsible for managing and coordinating all activities required to prepare, document, and execute commercial loan closings. This role works closely with Relationship Managers, Loan Officers, Analysts, Loan Operations, and external attorneys to ensure that every loan is accurately documented, compliant with regulatory and internal requirements. The CCA oversees the preparation of in-house documents, validates key onboarding data, reviews settlement and closing packages, and ensures the timely upload and organization of all electronic files. The ideal candidate is detail-oriented, highly organized, and skilled at balancing multiple priorities in a fast-paced lending environment.

Qualifications:

To perform this job successfully, the individual must be able and willing to perform all essential duties satisfactorily. The position responsibilities outlined here are in no way to be construed as all encompassing. Additional duties, responsibilities and qualifications may be required and/or assigned as necessary. Reasonable accommodation, as determined by management on a case-by-case basis, may be made to enable individuals with disabilities to perform essential duties.

 

ESSENTIAL DUTIES & RESPONSIBILITIES

 

Closing Coordination & Execution

• Coordinate and co-manage loan closings in partnership with Relationship Managers (RMs), Loan Officers (LOs), and closing attorneys.
• Prepare all in-house closing documentation and ensure timely delivery to all parties.
• Review and reconcile discrepancies between credit approvals and legal documents.
• Review settlement statements, closing packages, and funding documentation to ensure accuracy and compliance.
• Identify, troubleshoot, and resolve critical closing issues to prevent delays.'

 

Loan Onboarding, Booking & Funding

• Create and maintain accurate fee instructions, funding instructions, and onboarding details.
• Update and review all loan booking fields within Loan Vantage.
• Create and review Boarding Sheets to support accurate and compliant loan booking.
• Coordinate booking and funding activities with Loan Operations to ensure proper onboarding.
• Upload all pre-closing and final loan files to iDentifi and ensure complete electronic documentation.

 

Documentation & Compliance

• Review loan documentation for completeness, accuracy, and adherence to policy and regulatory requirements.
• Run and validate OFAC checks in accordance with compliance procedures.
• Complete Loan Vantage onboarding for C&I and CRE loans.
• File UCC documentation and maintain accurate records.
• Create and validate Beneficial Ownership forms.
• Collect, review, and validate insurance documentation for each closing.

 

Quality Control & Reporting

• Perform quality control reviews, including Minor/FDIC QC in addition to standard QC requirements.
• Compile modification packages and ensure completion of required documentation.
• Upload and audit loan files for booking accuracy and compliance.

 

Collaboration & Administrative Support

• Attend and participate in Pipeline meetings to support operational planning and workflow management.
• Assign loans and coordinate team workload in a Team Lead capacity.
• Prepare internal forms, including auto-pay agreements and line-of-credit authorization forms.
• Communicate proactively with RMs, Analysts, Loan Operations, and external partners to support efficient closing and servicing processes.

JOB REQUIREMENTS

• Advanced understanding of commercial loan processes, products, and services
• Ability to work on multiple transactions simultaneously and meet service level deadlines
• Ability to work independently and demonstrate sound problem-solving skills
• Willingness to go above and beyond to close a deal including taking extra steps when necessary to ensure completeness of a file
• Highly skilled at providing innovative and out of the box solutions on all policies and procedures
• Ability to adhere to Needham Bank's Core Values (Quick Decision-Making, Reliability, Relationship-Based Focus and Quality Service)

EDUCATION & EXPERIENCE

• 2-3 years' commercial closing experience
• Loan Vantage or Abrigo experience preferred but not required
• Microsoft experience
• Ability to manage workflows efficiently

 

WORKING CONDITIONS/PHYSICAL DEMANDS

 

While performing duties of this job, employees are occasionally required to stand; walk; sit; use hands, or feel objects, tools or controls; reach with hands and arms; speak clearly and hear efficiently. Employees much occasionally lift and/or move up to, or more than 10 pounds. Specific vision abilities required by the job include close vision, distance vision, color vision, peripheral vision, depth perception and the ability to adjust focus.

 

PAY RANGE: $25.73 - $33.45 / hour

The pay range provided is based on what we believe is a reasonable estimate for the pay range for this job at the time of posting. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply.

Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.

At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesn't align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles.

Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.