Loan Closing Coordinator

Background

New Jersey Community Capital is a nonprofit community development financial institution (CDFI) that provides an innovative toolkit of financial products, programs, and services to advance equity and opportunity in the communities we serve.

Read about us: 

About Us | New Jersey Community Capital

Success Stories Archive | New Jersey Community Capital

https://www.newjerseycommunitycapital.org/about–us/core–values/

Summary

• This role is a highly visible position where the individual will have the opportunity to work directly with borrowers.
• Under the supervision of the Managing Director of Lending, the Closing Coordinator is responsible for communicating with borrowers about the loan/investment closing process, coordinating loan closings, partnership agreements, and accurately preparing documents, coordinating wire disbursements, and onboarding loans and investments once fully boarded.
• The Closing Coordinator will be working closely with the Lending Team and Portfolio Management team.
• Our Portfolio of funds invests across multiple product types around the US, with a core focus on impact investing.
• These portfolios are CDFI Senior Loans, SBA Mezz Debt, preferred equity, and common equity.

 

Responsibilities

Essential Duties and Responsibilities:

• Facilitate closing transactions from beginning to end, with duties to include participating in closing calls with borrowers, obtaining proper insurance, real estate title policies, and other documentation as required.
• Communicating with borrowers to ensure timely delivery of required documents.
• Review and ensure that closing conditions as stated in the Credit Memorandum are met prior to signing of loan documents.
• Coordinate with Credit Underwriter to ensure that documentation and due diligence reflects approved closing conditions.
• Review insurance policies and other contracts and documents to ensure compliance with Lending/Investment Policies and Guidelines.
• Prepare and collect other required closing documents, such as the Landlord Consent Form, Automatic Clearing House forms and other items as required to meet specific closing requirements and ensure compliance with loan/investment policies and procedures.
• Coordinate signing of loan/equity documents with the Borrower and NJCC
• Review file to confirm fees and charges accurately match the fee disclosures.
• Coordinate with CFO and Accountant for timely submittal of fund disbursement requests.
• Maintain and organize digital file systems to meet compliance and auditing requirements.
• Assist with administration of lending/investment programs to maintain loans in databases, track economic impacts, develop reports, and participate in process improvement projects and new product rollouts.
• Coordinate with Loan Operations Team and Portfolio Manager to ensure electronic systems and necessary documentation are received and documented in the closing checklist prior to closing.
• Additional responsibilities as required.
• Performing other duties as may be deemed necessary and appropriate.

Requirements

Qualifications:

• 5 years of relevant experience in loan administration and loan monitoring/servicing
• Strong analytical, critical thinking and problem-solving skills to manage complex information, assess problems, and develop effective solutions.
• Excellent verbal, written, and interpersonal communication skills.
• Ability to work independently and with a team.
• Excellent attention to detail.
• Ability to make timely and well-informed decisions based on discernment even in times of complexity and ambiguity.
• Ability to establish and maintain systems for organizing work; well-developed time management skills and ability to meet stringent deadlines and time constraints in a busy department.
• Solid MS Office and Outlook skills

Compensation and Benefits

We offer competitive compensation (Range: $60-$70K) based on experience and qualifications, including incentive compensation based on organizational performance.

Benefits:

• Robust and family-friendly benefit packages including health, dental, vision, employee assistance program, travel companion, identity protection, disability, salary continuance, and life insurance.*
• Flexible spending accounts (medical, dependent care and transportation/transit savings).
• 401(k) profit-sharing plan.
• Employee referral bonus program.
• Discounted employee travel and entertainment benefits.
• Professional development opportunities.

* Benefits eligibility based on employee status.

How to Apply

Please submit resume and reference the position you are applying for to:

[email protected]