Job Description
Full job description
Position Summary
The Commercial Documentation Specialist is responsible for preparing commercial loan documents in accordance with loan approval, bank policy and regulatory requirements. This position must evaluate and analyze the approval and any supporting documentation to determine the necessary required loan documents needed to conform to the loan approval as well as enforce legality, proper lien position and collateral coverage.
Duties & Responsibilities
Prepare loan documents in accordance with loan approval: loan amounts, pricing (interest rates, change frequencies, index and index spreads, and fees), repayment (term and amortizations), covenants including definitions and testing requirements, collateral including advance rate adherence, and other requirements and conditions precedence.
Review deal submission and supporting documentation provided through bank’s proprietary workflow system to determine the documentation parameters and required contents of the final loan package for closing.
Collaborate with internal Credit, Loan Coordination and Relationship Manager Associates on deal structure, supporting documentation and to obtain additional items needed to prepare documents and perfect our security interest.
Confirm supporting documents adhere to Bank’s Policies and Regulations (CRA, HMDA, CD, OFAC, Flood (signed NTB and adequate coverage), and Patriot Act, Regulations B, O, U and Z, Appraisals, Environmental and Beneficial Ownership documents.
Proficiency within the Laser Pro system for Doc Prep, as well as bank’s core system for research purposes and workflow system used for queue assignment and individual deal flow
Responsible for meeting and maintaining Service Level Standards, metrics as assigned and individual accountability measures.
Education & Experience
Knowledge of:
Strong oral and written communication skills
Extensive knowledge of Commercial Loan Documentation parameters
Understanding of regulatory requirements for commercial loans
Ability to:
Multi-task and work independently and as part of a team
Perform duties under frequent time pressures with ability to prioritize
Complete work with frequent interruptions
Problem solve and exercise exceptional use of good judgment with respect to issues and circumstances as they arise
Requires continual attention to detail in composing and proofing materials, establishing priorities and meeting deadlines
Education and Training:
Associates degree in Business, Finance, Accounting, Economics or relevant discipline preferred. Equivalent years of relevant work experience may be considered in lieu of a degree.
0-2 years' experience in commercial loan documentation or commercial loan collateral review/audit role preferred.
Proficient knowledge of Microsoft Office Software, Laser Pro and ability to master other proprietary banking systems.
Benefits and Compensation
Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.
(Base Pay Range: $20.50 - $26.50/hour)
Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being—now and in the years to come—are important to us. Busey’s Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit Busey Total Rewards for more information.
Equal Opportunity
Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey’s commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey’s Equal Opportunity Employment.
Unsolicited Resumes
Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies (“Agency”), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings (“Agreement”). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.
Position Summary
The Commercial Documentation Specialist is responsible for preparing commercial loan documents in accordance with loan approval, bank policy and regulatory requirements. This position must evaluate and analyze the approval and any supporting documentation to determine the necessary required loan documents needed to conform to the loan approval as well as enforce legality, proper lien position and collateral coverage.
Duties & Responsibilities
Prepare loan documents in accordance with loan approval: loan amounts, pricing (interest rates, change frequencies, index and index spreads, and fees), repayment (term and amortizations), covenants including definitions and testing requirements, collateral including advance rate adherence, and other requirements and conditions precedence.
Review deal submission and supporting documentation provided through bank’s proprietary workflow system to determine the documentation parameters and required contents of the final loan package for closing.
Collaborate with internal Credit, Loan Coordination and Relationship Manager Associates on deal structure, supporting documentation and to obtain additional items needed to prepare documents and perfect our security interest.
Confirm supporting documents adhere to Bank’s Policies and Regulations (CRA, HMDA, CD, OFAC, Flood (signed NTB and adequate coverage), and Patriot Act, Regulations B, O, U and Z, Appraisals, Environmental and Beneficial Ownership documents.
Proficiency within the Laser Pro system for Doc Prep, as well as bank’s core system for research purposes and workflow system used for queue assignment and individual deal flow
Responsible for meeting and maintaining Service Level Standards, metrics as assigned and individual accountability measures.
Education & Experience
Knowledge of:
Strong oral and written communication skills
Extensive knowledge of Commercial Loan Documentation parameters
Understanding of regulatory requirements for commercial loans
Ability to:
Multi-task and work independently and as part of a team
Perform duties under frequent time pressures with ability to prioritize
Complete work with frequent interruptions
Problem solve and exercise exceptional use of good judgment with respect to issues and circumstances as they arise
Requires continual attention to detail in composing and proofing materials, establishing priorities and meeting deadlines
Education and Training:
Associates degree in Business, Finance, Accounting, Economics or relevant discipline preferred. Equivalent years of relevant work experience may be considered in lieu of a degree.
0-2 years' experience in commercial loan documentation or commercial loan collateral review/audit role preferred.
Proficient knowledge of Microsoft Office Software, Laser Pro and ability to master other proprietary banking systems.
Benefits and Compensation
Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.
(Base Pay Range: $20.50 - $26.50/hour)
Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being—now and in the years to come—are important to us. Busey’s Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit Busey Total Rewards for more information.
Equal Opportunity
Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey’s commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey’s Equal Opportunity Employment.
Unsolicited Resumes
Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies (“Agency”), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings (“Agreement”). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.
💡 Quick Summary
Seeking a career-building opportunity? The Commercial Loan Documentation Specialist position is now open for candidates interested in the Bank Jobs sector. This role in Creve Coeur offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
