Associate Loan Closing Specialist

About Us

How This Role Impacts Live Oak and its People

Responsible for orderingand reviewingloandue diligence documentswhileprotecting the Banksinterest from the time of approval through funding. Once approved by credit theAssociate Loan Closing Specialist isresponsible for quarterbacking the loan closing process by working closely with loan officers underwritersborrowers attorneysand the loan closing management team to ensure a smooth error-free loan closing. Works closely with theClosing Team Managerto guaranteequality customer service and timely closings for customers and the Bank. Effectively manages a closing pipeline while always treating each customer as the only customer.

What Youll Do at Live Oak

• Shows proficiency in closing for multiple verticals

• Is responsible for the creation distribution and maintenance of the loan closing checklist

• Collaborates with the borrower attorneys and any other third parties associated with the loan to ensurenecessary documents and any other items are producedon time for the set closing date

• Leads the closing kick-off calland is the point person for telephoneinquiriesfrom borrowers and Bank personnel regarding loans in process

• Is the main point of contact with the borrower answering questions to ensure the borrower has a clearunderstanding of the loan closing process with attention to customer service and closing details

• During the closing process resolves or escalates potential problems to theLoan Team Closing Team Managerand/or Bank Attorney

• Works to maintain clean loan files as independently as possible through research and problem solving reaching out for assistance to Loan Closing Specialist Is IIs and Closing Team Managers as needed

• Has responsibility for assembling the credit file for accuracy and completeness prior to loans closing

• Submits files for review in a timely manner and works with the assigned Closing Team Manager to have a minimal amount of items cited (5 or less)

• Ensures the loan closing date is met or based upon specific judgment reschedules and negotiatesextensions of contracts if documents necessary for closing are not available or complete

• Orders and reviews necessary documentation including attorney-preparedclosing and construction loanclosing independent decisions concerning the validation of the documentation to ensure underwriting and closing transpires according to Bank and regulatoryrequirements

• Applies expertise and independent judgment to validate the loan structure withthe lending team and works closely with the underwriter to ensure modifications are addressed properly

• Coordinates with QualityAssurance borrowers and attorneys to clear loan exceptions

• Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA) Anti-Money Laundering (AML) Customer Identification Program (CIP) and OFAC to assist in the identification detection and determent of money laundering or other unlawful activities

• Has responsibility for following SBA Standard Operating Procedure (SOP) USDA Operating Procedures& Live Oak Bank requirements

• Functions as a team member and realizes all members of the team are vital to its success

• Performs other duties as required

• Maintain a high standard of regulatory awareness including BSA AML CIP and OFAC

Required Experience

• High school diploma or GED

• Proficient with Microsoft Office (Word Excel and PowerPoint)

• Strong organizational skills with the ability to prioritize workload

• Professional and confidential disposition; exercise considerable judgment and discretion in handlingconfidential information

• Excellent communication skills

• Detail-oriented with a high degree of accuracy

Preferred Experience

• College degree in business or finance

• 2 years of work experience with SBAand/or USDA

• 2yearsof legal or lending experience

Our Values

• Dedication:Possess a deep commitment to Live Oak Banks mission and core values exemplified through a strong work ethic adaptability and pride in your work.

• Ownership:Take initiative to deliver positive results by proactively and creatively solving problems while maintaining a high degree of quality.

• Respect:Treat everyone with courtesy politeness and kindness.

• Innovation:Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.

• Teamwork: Foster collaboration accountability and trust with others and understand that together we do more

For a detailed overview of our employee benefits please visit: Oak Bank is an Affirmative Action and Equal Opportunity Employer Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race color religion sex sexual orientation gender identity national origin age genetic information veteran status or disability. Equal access to programs service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at.

EEO is the Law

Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave including but not limited to Arizona California Colorado District of Columbia Maine Maryland Massachusetts Michigan Nevada New Jersey New Mexico New York Oregon Rhode Island Vermont and Washington.