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Senior Closing Specialist - Fund Banking

M&T Bank

M&T Bank

Boston, MA, USA
Posted on Wednesday, September 20, 2023


Responsible for the reconciliation and interpretation of loan documentation and associated communication. Responsible for duties related to the processing and closing of commercial loans to satisfy due diligence requirements and ensure compliance with Company policies, procedures, credit approval, and government regulations. Manages data integrity along with closing responsibilities for a complex (DCM, CRE, MWL, Participations, other specialized) and/or high-volume pipeline of all loan types relative to the line of business supported. This position serves as the first line of defense and this body of work is high risk as it directly impacts M&T Bank’s ability to maintain regulatory requirements/standards and comply with credit policy. Position is relied upon for troubleshooting and making recommendations on behalf of the respective regional team. May serve in a temporary leadership capacity.

Primary Responsibilities:

  • Reconcile and interpret loan documentation (term sheet/credit memo/commitment letter/credit approval) and communication from internal and external sources for purposes of ensuring data integrity throughout lifecycle of the loan (guarantors, collateral objects, LIBOR floors, appraisals, environmentals, HMDA, KYC, Flood, etc.). Mitigate risk of downstream negative impacts through ongoing education on bank and regulatory requirements.
  • Identify and fulfill loan closing documentation and due diligence requirements based on background provided and research conducted for each deal. When appropriate, provide guidance to less experienced team members in this area. Communicate requirements to relationship team (e.g. Group Manager, Relationship Manager, Portfolio Manager) and plan accordingly to meet scheduled closing date. Acts as an escalation point for involved parties to resolve issues and provide training around loan documentation and due diligence.
  • Assist the KYC Officer and Relationship Manager with the BSA/AML/KYC process, adhering to procedures, regulatory requirements, and deadlines. Requests may also be received from CDD. Validate the KYC status of the customer along with entity documents to ensure customers are in good standing/registered properly. Appropriate documentation must be collected per requirements for specific customer entity structures; customer signatures must match legal documentation. Leverages appropriate websites to perform validation and confirm due diligence requirements. May be asked by Supervisor to oversee this process
  • Evaluates whether the deal will be internally or externally prepared in partnership with Relationship Manager. In lieu of Relationship Manager, serves as primary contact for engagement of external legal counsel or Internal Doc Prep and for coordinating the closing date, and requesting documentation changes. Ensures that closing date is indicated (and modified when appropriate) in system of record and on regional closing calendar.
  • Responsible for ordering all appraisals, environmentals, and flood certifications using the established procedure and for initiating the exception process, when appropriate. Manage ongoing communications with external legal counsel, or Internal Doc Prep, and customer, requesting additional information or documentation changes, if needed.
  • Deliver high quality service, while ensuring accuracy and timeliness of delivery.
  • For all loan closings, manage or oversee the process to ensure that all associated loan fees are reflected accurately based on loan type and underwriting approval. Fees must be processed/collected prescribed timeframes, and follow-up performed when needed.
  • Maintain commercial customer records, both paper and electronic versions, including but not limited to maintenance of up-to-date information/knowledge regarding accounts, products/services, financial relationships, previous problems, etc.
  • Serve as a champion for process improvements within the Closing Specialist team, advocating for known benefits. Communicate and collaborate effectively with other departments and business partners in the Bank, working as both a team player and project leader, when appropriate, to establish exemplary partnerships with all co-workers and create a positive team environment. Demonstrates the ability to communicate effectively with third party vendors, customers, Relationship Managers, and other internal partners to address discrepancies/issues found during due diligence/loan closing review process.
  • Manages assigned closing pipeline calendar. Takes responsibility for the implementation of regulatory and credit policy requirements and procedural changes related to this body of work, including the planning, introduction, and evolution of new/modified systems or procedures. Strict adherence to requirements when initiating and closing new loans and [certain] modifications in credit approval system. Possess the ability to meet deadlines by working with multiple Relationship Managers on concurrent closing requests, including the potential for making ‘last minute’ modifications. Should the need arise, coordinate with Supervisor on workload redistribution.
  • Responsible for the successful performance of the assigned responsibilities within their respective regions, including managing the lifecycle closing process for a high-volume or complex (participations, syndications, bonds, government, SWAP, cre mortgages and cre and construction loans) portfolio. Prepares loan closing package for funding and archiving, ensuring that the loan package(s) complies with the associated credit approval(s). When appropriate, provides guidance to regional team members in this area. Checklist required for all new loans, but not required for modifications with no new money.
  • Ensure that loan documentation is submitted according to procedures and is accurately reflected on the bank-wide systems. Responsible for the clearance of delinquent documents and other exceptions with appropriate areas.
  • Review monthly Proforma and preview reports and complete Proforma extensions as needed.
  • Responsible for managing regional and departmental report reconciliation requests.
  • Actively participates on departmental projects and committees as needed. Recommends plausible solutions to concerns that are raised, when possible.
  • May assist or fill in for Commercial Support Team Supervisor during vacation or leave of absence. Shares best practices with more junior staff members and assists with resolving escalated problem situations, exception requests, deviations from day-to-day business processes. Involves Commercial Operations Manager when needed in absence of Supervisor.
  • Assist with onboarding newly hired regional team members. Provide back up to other regional team members when necessary to perform transactions and fulfill requests.
  • Attend regularly scheduled departmental training calls to maintain current knowledge of procedures, regulatory updates, and Commercial Products. Assist other staff members with understanding what has been communicated.
  • Report customer complaints to the Office of Customer Advocacy when appropriate.
  • Understand and adhere to the Company’s risk and regulatory standards, policies, and controls in accordance with the Company’s Risk Appetite.
  • Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
  • Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
  • Promote an environment that supports diversity and reflects the M&T Bank brand.
  • Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
  • Complete other related duties as assigned.

Scope of Responsibilities:

Incumbent is a liaison between lenders, attorneys, internal legal and document preparation departments, and others as may be needed to meet loan closing deadlines and resolve relevant issues.

Incumbent works as part of the account relationship team to build strong customer relationships while preserving the Bank’s strong credit culture – each component critical to the success of our customers and company.

Incumbent must be able to plan, organize and produce results; as well as provide technical, functional, and operational expertise in department work policies and procedures.

Position requires a thorough knowledge of business, applicable regulations, and affiliated technology.

Position has some uncertainty with established parameters for solutions and possesses moderate risk to organization.

Viewed as Subject Matter Expert.

Supervisory/ Managerial Responsibilities:

Provide coaching, leadership and mentoring to junior staff.

Trains new staff members.

Education and Experience Required:

Bachelor’s degree in applicable field, plus a minimum of 3 years’ Commercial Banking and Customer Service experience, or in lieu of a degree, a combined 7 years’ higher education and/or work experience, with a minimum of 3 years’ Commercial Banking and Customer Service experience.

Knowledge of required legal documentation, loan structure, commercial real estate, paralegal experience.

Experienced in lending operations to include commercial loan approvals.

Proficiency with personal computers as well as pertinent software packages.

Education and Experience Preferred:

Knowledge of applicable products, systems, and workflows.

Excellent attention to detail.

Excellent verbal and written communication skills.

Ability to work individually as well as a member of a team.

Self-motivated, well-organized individual.

Ability to work under time constraints and handle multiple tasks in support of various assignments.

Ability to function professionally at many different levels (clients, management, and peers).

Strong interpersonal skills necessary for business partner relationships within and outside organization.

Solid knowledge of unit/department policies and procedures.

Experience training peers on job responsibilities.

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $32.97 - $52.75 Hourly (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.


Boston, Massachusetts, United States of America