Sr. Closing Officer or Lead Closing Officer - Healthcare Group (HCG) and Institutional Real Estate (IRE)

Location:

This position is responsible for: (a) independently manage and maintain an active closing portfolio consisting of moderate to highly complex loan transactions, (b) be proficient in understanding, analyzing and negotiating legal documents and loan closing due diligence (c) drive the closing process from loan approval through closing, reviewing due diligence along the process; and (d) be responsible for some continued post-closing monitoring. The product types that the Closing Officer should be proficient in range from simple extensions and modifications to complex borrowing base loans (including multiple tranche transactions), line of credit facilities, standby letters of credit or revenue bond transactions, any of which may be syndicated/participated. This Closing Officer is required to deliver superior client service to internal and external clients while using sound judgment and decision-making skills in gray areas for "win-win" outcomes while balancing policy, procedures, client needs and bank risks. Adherence to internal compliance procedures (OFAC, Patriot Act, etc.), credit approval, risk management and document standards is critical. The Closing Officer is expected to collaborate with the entire Servicing team, sharing information, knowledge, best practices and experiences in order to maximize efficiency, service quality and results. The Closing Officer may be asked to participate and/or lead special projects on occasion.

• Provide closing expertise to internal clients in pre-closing process through review of items required to close, review of credit approval and assistance with review of commitment letter and loan documentation
• Proactively drive the closing process with client, utilizing the closing checklist to identify and monitor progress of items required to close the transaction
• Engage/coordinate outside consultants necessary for the transaction including legal counsel and construction consultant
• Accumulate and review all loan documentation and other information for conformity to credit policy, credit approval, and commitment letter; analyze, review and negotiate client-requested changes with counsel and/or Sales as appropriate
• Review and analyze Borrower provided insurance with insurance standards
• Order flood zone determinations and provide analytical review and assurance of all federal regulated requirements are met for SFHA collateral, including movements in and out of a SFHA
• Review and analyze construction documents, including construction schedule, construction budget and construction contracts
• Ensure ongoing communication with client, Sales, legal counsel, title agent, construction consultant, Servicing Officer and all other necessary parties during pre-closing and closing process (initiate pre-closing meetings)
• Work with Servicing Officer, consultant and Sales to ensure project budget is balanced and conforms to loan approval
• Consistently deliver distinctive personalized service to external and internal clients; participate in client meetings
• Ensure all pre-closing conditions of approval are met prior to closing/funding and monitor all post-closing items
• Provide authorization to close to Servicing Officer; work closely with multiple parties to achieve a well-coordinated and timely closing, funding and booking of the transaction
• Effectively communicate and work with banks on syndicated/participated transactions; lead or participate in syndication bank group meetings and ensure Bank documentation and closing requirements are met
• Coordinate collection of all fees and charges necessary to close transaction (and utilizing various appropriate systems for management of such fees and charges)
• Provide required documentation for booking transaction and fees
• Utilize system for timely updates on deal status, and ensure all documentation is in place for timely uploaded and ensure all documentation is maintained in digital closing file
• Utilize internal Compliance Applications in order to ensure adherence to all governmental and fiduciary laws, including OFAC and Patriot Act
• Clearly and immediately communicate problems/issues with appropriate elevation of such problems/issues and assist in the resolution of such issues affecting client service and risk management
• Adherence to timeframes for all required training

• 4-year College Degree or equivalent real estate business experience
• Paralegal training, law degree and/or LPO license preferred
• Ability to work independently without on-site direct supervision
• Strong knowledge and experience in construction and interim loan financing including commitment/loan structures, title/liens, contracts, leases, AIA documents, project budgets, insurance, loan documents and other legal documentation, and compliance with state/market legal requirements
• Strong solution-oriented and problem-solving skills; detail-oriented
• Demonstrated decision-making ability
• Demonstrated ability to prioritize and handle multiple tasks in a high closing volume environment
• Significant experience with multi-bank loan participations/syndications and secondary market standards
• Strong aptitude for analysis, systems and mathematics
• Strong written and verbal communication skills
• Strong planning and organizational skills
• Proven ability to prioritize and handle multiple tasks in a high-volume environment
• Familiarity with commercial loan accounting systems
• PC proficiency including familiarity with Microsoft Excel, Word and Lotus Notes Email

Lead Closing Officer

ABOUT THE JOB (JOB BRIEF)

Responsible for closing assigned portfolio consisting of a variety of products, primarily in Healthcare Group (HCG) and Institutional Real Estate (IRE). Independent management of all pre-closing and conduct review of due diligence, including adhering to internal compliance procedures (OFAC, Patriot Act, etc.), credit approval, risk management and documentation standards according to internal closing procedures and controls. Responsible for providing superior client service in proactively driving the closing process, engaging legal counsel and third-party vendors, following progress on the closing checklist, identifying items/conditions to be satisfied and the party responsible, through funding and all post-closing functions.

• Provides closing expertise to RM/PM in pre-closing process through review of items required to close, review of credit approval and assistance with review of commitment letter and loan documentation
• Drives closing process with client, utilizing closing checklist to identify and monitor progress of items required to close and responsible parties for such
• Engages/coordinates outside consultants necessary for the transaction including legal counsel
• Accumulates and reviews all loan documentation and other information for conformity to credit policy, credit approval, and commitment letter; reviews and negotiates client-requested changes with counsel and/or RM as appropriate
• Ensures ongoing communication with client, RM, PM, legal counsel, title agent, consultants, Servicing Officer and all other necessary parties during pre-closing and closing process
• Works with Servicing Officer, consultants and RM to ensure project budget is balanced and conforms to loan approval.
• Delivers distinctive personalized service to external and internal clients; participates in client meetings
• Utilizes transaction tracking system to update transaction status
• Ensures all pre-closing conditions of approval are met
• Provides authorization to close to Servicing Officer; works closely with multiple parties to achieve a well-coordinated and timely closing, funding and booking of the transaction
• Effectively communicates and works with banks on syndicated/participated transactions; leads or participates in syndication bank group meetings (each with Team Lead assistance as needed) and ensures Bank documentation and closing requirements are met
• Coordinates collection of all fees and charges necessary to close transaction
• Provides required documentation for booking transaction and fees
• Utilizes RECWeb system for timely updates on deal status, and timely uploading and maintaining of closing file and all appropriate documents
• Ensures all pre-closing conditions of approval are met and proactively monitors all post-closing items
• Utilizes Compliance Applications in order to ensure adherence to all governmental and fiduciary laws, including OFAC and Patriot Act
• Clearly and immediately communicates problems/issues and elevates appropriately; assists in resolving issues affecting client service and risk management
• Adheres to timeframes for all required training

• 4-year College Degree or equivalent real estate business experience
• Paralegal training, law degree and/or LPO license preferred
• Experience with closing process and real estate loan financing including commitment/loan structures, title/liens, insurance, loan documents, contracts, leases, AIA document, project budgets and other legal documentation and compliance with governmental legal requirements (Familiarity of HCG product a plus).
• Strong solution-oriented and problem-solving skills; detail-oriented
• Demonstrated decision-making ability
• Experience with multi-bank loan participations/syndications and secondary market standards
• Strong aptitude for analysis, systems and mathematics
• Strong written and verbal communication skills
• Strong planning and organizational skills
• Proven ability to prioritize and handle multiple tasks in a high-volume environment
• Familiarity with commercial loan accounting systems

• PC proficiency including familiarity with Microsoft Excel and Word.

Accountability

• Keeps promises and honors commitments.
• Accepts responsibility for mistakes and failures and learns from them.
• Demonstrates open, honest communication.

Business Acumen

• Be knowledgeable about the financial services industry and Key's competition.
• Understand the value proposition of the business and how it contributes to Key's business strategy.
• Understand and apply Key's risk management philosophy in day-to-day interactions.

Client Focus

• Understands the value of excellent client service and demonstrates commitment to client satisfaction for internal and external clients while balancing organizational profitability.
• Actively listens to internal/external client feedback and delivers appropriate solutions.
• Applies judgment within established guidelines to resolve client issues and needs and escalates issues to manager when appropriate.

Develop Self, Staff & Others

• Take ownership of your personal development plan and seek opportunities to further develop your skill set.
• Proactively share your knowledge to help others develop and to improve the performance of the team.

Drive for Results

• Can be counted on to exceed goals successfully; is consistently a solid performer, is very bottom line oriented; steadfastly pushes self and others for results.
• Demonstrates personal accountability for achieving results within established timelines and budget parameters.
• Pursues work with energy, drive and focus.

Effective Collaboration

• Identifies and involves the right stakeholders to make decisions and maximize results.
• Readily shares information, knowledge, best practices, and ideas with teammates.
• Leverages opportunities and capabilities across the team to accomplish goals.
• Attentive and active listener; has the patience to hear people out; can accurately restate the opinion of others even when he/she disagrees.

Lead Change

• Effectively navigate and embrace change; exhibit an openness of new ways of doing things and an adaptable, continuous improvement mindset.
• Make quality decisions in a timely manner; sometimes with incomplete or ambiguous information and under tight deadlines/pressure.
• Understand the boundaries of your decision making and escalate decisions appropriately.

Managerial Courage

• Openly expresses views and delivers candid and constructive feedback with a positive mindset to teammates and manager.
• Welcomes constructive feedback and strives to improve personal effectiveness based upon feedback.
• Steps up to conflict and views it as an opportunity; finds common ground and fosters cooperation with minimum noise.

Manage Vision and Purpose

• Demonstrate passion for improving business results.
• Understand how your role fits into the vision of the department and the organization.
• Apply an understanding of the department's vision and purpose to your prioritize work.

COMPENSATION AND BENEFITS

Lead Closing Officer:

This position is eligible to earn a base salary in the range of $60,000 to $75,000 annually depending on job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation subject to individual and company performance. Please click here for a list of benefits for which this position is eligible.

Senior Closing Officer:

This position is eligible to earn a base salary in the range of $85,000 to $95,000 annually depending on job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation subject to individual and company performance. Please click here for a list of benefits for which this position is eligible.

Please click here for a list of benefits for which this position is eligible.

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.