Job Description

Loan Closing Officer
The Loan Closing department role will be responsible for providing services to the commercial loans to ensure the timely processing of loan closing requests and management of data integrity for the reporting of Comerica's loan portfolio. This role will also manage loan closing activities and independently analyze and validate information provided in the RECAP for standard, moderate and complex commercial/consumer loans for all markets.

Position Competencies
Successful incumbents have strong customer-centricity, are collaborative, have high integrity, strive for excellence, are agile, promote diversity and are involved in our community. Qualified US Armed Forces veterans and qualified members of the Guard and Reserve are encouraged to apply.

Position Responsibilities
Loan Closing

* Partner with key stakeholders to drive loans to closure in an accurate and timely manner.
* Coordinate and execute all aspects of commercial loan closing from loan approval through closing. This includes communication with borrowers, engagement of third parties, communication with bank counsel, resolution of prerequisites to closing and capture of required data.
* Identify and resolve process or business-related obstacles to loan closing, escalate as needed.
* Develop knowledge and understanding of support and loan documents required for the borrowing entity, collateral type and loan controls and/or covenants contained in the credit approval for various commercial and consumer loans, including those with greater complexity (e.g., multi-bank transactions, non-accrual, etc.).
* Determine required documentation based on the loan type and orders documentation from the appropriate source (National Document Preparation, Corporate Legal or outside legal counsel).

Customer Service

* Engage customers, internal and external legal counsel, to obtain necessary information for loan closing.
* Collaborate with suppliers (e.g., appraisers, environmental companies, title insurance companies, etc.) to obtain pre-documentation due diligence.
* Maintain effective relationships with clients and suppliers.
* Consult and manage problem resolution during the post approval and pre-boarding phases.
* Key point of contact for post-closing operational units for assigned loans.
* Monitor and communicate receipt and progress of work.

Risk Management / Data Validation

* Coordinate prerequisite criteria and loan document preparation as identified in RECAPs in conjunction with approvers/reviewers.
* Partner with key stakeholders to ensure regulatory requirements are satisfied and escalate non-compliance concerns.
* Utilize knowledge of underwriting principals and the end-to-end loan process to review, analyze and interpret information in the Recap, to determine what is required to be captured in the system of record.
* Make quality and timely decisions regarding conflicting information.
* Work independently with minimal guidance and support.
* Maintain knowledge of legal and regulatory issues related to various commercial and consumer loans. Provide recommendations on process adjustments based on updates and revisions to regulations. Some examples of regulations governing this work: Reg Z, Home Mortgage Disclosure Act (HMDA), Flood Disaster Protection Act.
* Train incoming data validation analysts to document, board, service and provide accurate reporting of commercial and consumer loans.

Position Qualifications

* High School diploma or equivalent (GED)
* 4 years of experience in banking or financial service environment
* 3 years of experience in commercial loan
* 3 years of experience in analysis
* 3 years of experience in customer service in a telephone and face-to-face environment

Comerica Bank Tower8am-5pm Monday - Friday