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Commercial Post Closing Associate

Company: OceanFirst Financial Corp.
Location: Toms River
Posted on: May 3, 2021

Job Description:

This position is based at our Toms River Headquarters.

PRIMARY PURPOSE:

Support the department with loan closing, renewals and extensions to ensure documentation is properly executed and processed on the operating systems. In addition, create tracking for follow-up on outstanding items after closing and complete required filings.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

  1. Review post-closing packages for proper document execution and receipt.

  2. Assist Commercial Loan Post Closing Supervisor in compilation of data for regulatory compliance and monthly and quarterly auditing.

  3. Maintain working knowledge of the Commercial Loan and Small Business Department's core operating systems. (booking and reporting systems) and procedures in order to effectively board new and modified loans.

  4. Assist with the monitoring of the daily proof and general ledgers of the department.

  5. Recording of documents (mortgages, initial UCC-1 statements, discharges, postponements).

  6. Work with lenders, Bank Counsel, borrower and borrower's counsel to ensure required post closing documentation is received, monitored and maintained.

  7. Interpret loan closing or modification documents to system updates on the core processing system.

  8. Provide quality control with proper execution of loan documentation, the creation of non-financial tracking reporting

  9. Prepare documentation files for system scanning.

  10. Review daily department proof and complete proof of general ledgers to ensure all items are reconciled. Assist with the research and resolution of outstanding items.

  11. Research and prepare collateral release forms as needed for closed loans.

  12. Understands compliance with all regulations governing the banking industry, as well as agency guidelines and organization policies.

  13. Understands the compliance requirements for Loan Operations to ensure files are maintained in accordance with regulations.

JOB SPECIFICATIONS:

Knowledge, Skills & Abilities

  • Strong interpersonal skills, including ability to effectively communicate with commercial customers.
  • Strong verbal and written communication skills.
  • Working knowledge of MS Office Suite, and documentation prep programs.

Experience & Education

  • High School Diploma or equivalent; Paralegal designation preferable
  • Minimum of 5 years loan documentation experience

Internal and External Contacts

  • Internal contacts include co-workers, Bank Counsel, Loan Servicing.
  • External contact includes borrowers and borrowers' counsel, title companies.

Working Conditions/Physical Requirements

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.

Equal Opportunity Employer

Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity

Keywords: OceanFirst Financial Corp., Brick , Commercial Post Closing Associate, Other , Toms River, New Jersey

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