Closing Administrator-Externally Documented L

At OceanFirst Bank, each one of our employees plays an important role in fulfilling the mission and taking responsibility to execute daily tasks in alignment with our core values. Together we foster an environment of respect, professionalism and diversity that makes OceanFirst a great place to work and do business.

Great benefits include: on-site fitness facility at Red Bank and Toms River headquarter offices, hybrid schedule after initial onboarding has been completed, employee perks & discount programs, tuition assistance, incentive compensation program, professional development opportunities, and more! Apply today to #BecomeOceanFirst and make an impact in the local community!

ABOUT YOUR ROLE

This position provides para-professional support to the Closing Department in connection with facilitating the closing process of commercial loans when the Bank is represented by outside counsel. Primary duties include coordinating the retention of outside counsel for transactions and handling of pre-closing loan due diligence monitoring, review of documentation and various tasks to support the movement of loans from approval to closing under the supervision of Associate General Counsel.

The commercial closing administrators are responsible for the oversight and completion of the external due diligence and compliance monitoring of the loan closing process for the Bank''s Commercial Lending department. This process includes (i) initial review of term sheets and loan approvals for correct loan closing and documentation requirements and due diligence closing checklist requirements; (ii) review and monitoring of receipt and completion of loan due diligence responses; (iii) preparation of correspondence with outside counsel; (iv) compliance review of prepared loan documents for new and modified commercial loans in accordance with the Bank''s policies and procedures; and (v) final sign off for loan closings. Responsibilities also include nCino reporting requirements and administrative support for all aspects of internally documented Commercial and Business Banking Loan due diligence and documentation for closings as required by Associate General Counsel.

WHAT YOU WILL DO

• Review of executed term sheets and credit approval documents to prepare transaction letters and confirm compliance by counsel of the Bank''s due diligence requirements and checklists for use by borrower''s counsel and closing agent.
• Review of searches, surveys, metes, and bounds descriptions and entity documents to ensure conformance with the loan approval, conditions and requirements of the bank''s term sheets and checklists for closing.
• Final review of form loan documentation based on the loan requirements and due diligence results in consultation with outside counsel, relationship lenders and the credit department.
• Communicate with loan assistants, post-closing department personnel, loan officers, outside attorneys regarding closing requirements, problems and deficiencies with closing requirements and loan status.
• Responsible for follow up to ensure outstanding due diligence items are collected, reviewed and/or completed prior to clearing loans for closing. Follow up and review of outside counsel closing letters.
• Review and approve loan modification agreements, lien release agreements, subordination agreements and various other loan related documents at the discretion of Associate General Counsel.
• Work with commercial credit to create outstanding post-closing loan documentation requirements and deadlines, when necessary. Review and approve post-closing submissions.
• Additional Commercial Lending Duties
• Prepare status reports for new loans and modification files as required.
• Open, maintain and update all electronic loan files as required by the legal department.
• As necessary, handle incoming general calls to the closing department.