Closing Officer- Secured Lending

Location US-NJ-Trenton | US-NJ-Temporarily remote due to COVID-19
Job ID
2020-1552
Category/Department
Finance & Development - Closing Services

Overview

 

Job Summary 

 

Provides preparation and review services of basic to moderately complex legal documents and due diligence regarding the closing of Authority lending and associated products (“Lending Products”) with a minimum of supervision. 

 

$55,643 - $69,554

Responsibilities

Essential Duties and Responsibilities  

 

  • Ensures all Lending Products are closed in conformance with Authority approvals and product requirements.  
  • Coordinates and handles all aspects of basic to moderately complex Lending Products closing and post closing activities.  
  • Prepares basic to moderately complex commitment letters, closing instructions, and Lending Product documents  with minimum supervision, and: 
  • Interacts with credit underwriters/ borrowers/ attorneys/ title companies/ senior level executives/insurance companies/other state agency staff; and other lenders to facilitate closings. 
  • Reviews title reports, various searches; communicates comments to borrowers/ grantees/ attorneys/ title companies and advises credit underwriter and Program Manager of any concerns and extinguishes any exceptions and resolves issues 
  • Prepares commitment letters and final Lending Product documents for Deputy Attorney General review. 
  • Responsible for closing Lending Products in an electronic environment; and in accordance with Authority’s requirements. 
  • Prepares and processes the closed loan files in accordance with approved post-closing procedures to fully protect the Authority’s financial exposure. Performs quality control duties to ensure completeness and accuracy of post-closing processes and documentation for assigned projects. 
  • Reviews and prepares basic to moderately complex modification documents following approvals, ensuring modifications are completed accurately and timely; prepares substitution and/or release of collateral documentation, as necessary. 
  • Inputs Lending Product information into CRM/Enable and updates systems on continual basis as applicable. 
  • Evaluates workflow processes to identify and implement changes to improve efficiencies for customers and staff. 
  • Promotes teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers. 
  • Participates in special projects as requested by Program Manager and/or Director; assumes additional duties, as required by department workload, Authority initiatives and creation of new products. 
  • Must complete annual and semiannual self-assessment as required. 
  • Performs other duties and special projects, as assigned. 

Qualifications

Required Skills and Abilities 

  • Basic to moderately advanced knowledge of secured lending 
  • Ability to read, understand and interpret and be proficient in the statutes, regulations, policies and procedures; and in multiple Federal and State rules and regulations 
  • Familiar with legal terminology and documents; ability to accurately review legal documents for acceptability 
  • Ability to analyze basic to moderately complex legal problems, concepts, and documents with emphasis in the area of secured lending transactions and real estate transactions; and draft legal documents 
  • Ability to understand, accept and adhere to established Authority procedures 
  • Self-starter, ability to work with minimum supervision 
  • Emotionally intelligent; demonstrates strong interpersonal and customer service skills  
  • Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with business professionals and EDA staff 
  • Ability to prioritize workload, must be highly organized, detail-oriented, handle various tasks simultaneously and work independently within limited time constrains with little or no supervision, shift priorities as necessary; and function effectively and efficiently under pressure  
  • Adapts to changes in the work environment and manages competing demands 
  • Must be able to maintain confidentiality and deal effectively and diplomatically with business professionals and EDA staff 
  • Demonstrates respectful behavior and promotes teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers.   
  • Proficient in Microsoft Office Suite and the ability to learn new software packages 

 

Required Qualifications 

 

Education and Experience Requirements 

  • Bachelor’s degree and/or equivalent professional experience 
  • Minimum five (5) years experience in commercial secured lending/legal environment, including experience in working with real estate transactions and loan documentation 
  • Formal legal education and training required with an emphasis in secured lending 

 

Advanced degree or industry specific certification may be substituted for 1 year of experience 

 

Physical Demands 

  • Minimal 
  • Ability to work outside normal business hours, as needed 

 

Travel 

  • As necessary to events, meetings, businesses, etc. 

 

Certificates and Licenses Required 

  • Paralegal certificate or degree 
  • Valid driver’s license 

 

Note 

 

The examples of work for this title are for illustrative purposes only. A particular position using this title may not perform all duties listed in this job description. Conversely, all duties performed on the job may not be listed. This job description is intended to convey information essential to understanding the scope, general nature and level of work performed by job holders within this job.  This job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position. 

 

Your employment at NJEDA is voluntary and subject to termination by you or NJEDA at will, with or without cause, or with or without notice, at any time.  Nothing in this job description shall be interpreted to conflict, eliminate or modify the employment-at-will status of NJEDA employees.   

 

This position is considered exempt and is excluded from minimum wage, overtime regulations, and other rights and protections afforded nonexempt workers under the FLSA. 

 

NJEDA reserves the right to amend/revise this job description as necessary to meet current and changing business needs. 

 

Equal Opportunity Employer 

 

Position Requirements 

 

  • Foreign degrees/transcripts must be evaluated by a reputable evaluation service at your own expense and must be submitted prior to a start date.  If this cannot be provided within 21 days of an offer the offer will be rescinded. 
  • Must comply with the “New Jersey First Act” which requires employees hired after September 1, 2011 to reside in New Jersey. Non-New Jersey resident employees must relocate to New Jersey within one year of their date of hire and provide proof of residency to Human Resources. 
  • Must complete an Outside Activity Questionnaire (disclosure of outside office or employment) on an annual basis.  

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