Sr Associate, Business Banking Loan Closing

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.  

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Responsible for successfully reviewing and preparing required loan documentation for SBA and Business Banking loans satisfying the due diligence requirements and ensure compliance with company, policies, credit approval, and government regulations. Responsibilities include reviewing credit documents, loan parameters, managing assigned pipeline of all loan types relative to the line of business supported.  The expectation for the position is to help deliver an industry-leading customer experience for our borrowing customers to ensure a smooth closing process. This position will require significant attorney contact (written and phone) and will liaison with a team of Business Bankers to support new and existing customer relationship efforts throughout the entire Webster Bank footprint.

 Responsibilities:

• Maintain and works the production queue of multiple loans daily

• Able to effectively work on conventional loans, SBA loans, Commercial Mortgages, and C&I lending 

• Acts as liaison for unresolved issues between Business Banking officer and other areas of the bank

• Ability to analyze loan structure to identify, request, and review critical interpretation of all pre closing documents needed to grant the "clear to close"

• Order/request, collect, review, and verify documentation received from various parties to complete transactions necessary for a compliant closing

• Accurately determines when underwriting approval conditions have been satisfied 

• Coordinate efforts with outside counsel to prepare loan documentation and/or create loan documentation internally

• Review legal documents for accuracy, completeness, and adherence to the credit approval

• Prepare internal loan documentation to reflect approved loan terms as well as satisfy Bank’s Compliance Policy and Procedures for new loans and modifications as well as governing authorities.

• Oversee timing of targeted or scheduled closing date with all internal and external parties throughout the transaction to set expectations and ensure the loan closes in a timely fashion

• Coordinates correspondence, both verbal and written, amongst Relationship Managers, Middle & Back Office operations, and Counsel, as necessary

• Remain current on all pertinent lending and other financial institution related laws and regulations

• Collaboratively woks with internal partners and departments

• Understands all funding and disbursement information

• Ensures all individual and departments service level agreements are met

Experience/ Education/Requirements:

• 3+ years of experience in Closing, Lending, or Bank Operations      

• Preferred Bachelor’s Degree in Business, Finance, Accounting, or Economics

• Working knowledge of general Commercial loan documentation, loan closing processes, and procedures, lending policies, compliance, and lending regulations

• Experience with Loan Origination Systems and back-end systems

• Professional written, verbal communication, and interpersonal skills

• Ability to multi-task and prioritize work efficiently and effectively

• Ability to work a hybrid schedule out of Southington, CT.

The estimated salary range for this position is $30.00 to $35.00 USD an hour. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

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All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.