SBA Closer II

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Position Summary

The SBA Loan Closer II is responsible for all due diligence in relation to the accuracy and completeness of an SBA loan, according to SBA Standard Operating Procedures and Simmons Bank policies. The SBA Loan Closer II facilitates SBA 7a and SBA 504 loan closings without oversight. The SBA Loan Closer II works in coordination with other SBA Department Members to document the closing of government guaranteed loans in compliance with the Bank and U.S. Small Business Administration policies and approvals in order to secure the SBA Guaranty and prevent loss to Simmons Bank.

Essential Duties and Responsibilities

• Works in coordination with all parties to an SBA loan closing to accurately document a loan file according to SBA Standard Operating Procedure and Bank policy, both pre- and post-loan closing;
• Provides knowledgeable and professional communication with parties to an SBA loan closing, such as the U.S. Small Business Administration, SBA Closing Manager, lender, borrower, underwriter, third-party vendor, CDC, attorney and SBA Lending Operations;
• Works in coordination with other SBA Closing team members to properly document SBA loan files, consistently providing knowledgeable and professional communication with other SBA Closing team members;
• Prepares and reviews SBA loan documents to ensure adherence to both the SBA Standard Operating Procedure and Bank policy, creating accurate loan documentation based on Bank and SBA loan approval;
• Ensures accuracy of SBA and Bank data systems;
• Works closely with other SBA Closing associates to collect documentation from lender, underwriter and borrower to clear the SBA Closing Needs List to ready an SBA loan for closing;
• Requests and reviews reporting from third-party companies, to adhere to SBA Standard Operating Procedure and Bank policy;
• Informs lender, SBA Closing Manager and/or SBA Closing team associate of SBA loan closing progress on at least a weekly basis;
• Updates applicable Bank systems to track loan progress and expenses for each individual loan;
• Coordinates with underwriter during the closing process to prompt memos to the file to document modifications made to a loan prior to closing, as needed;
• Coordinates with other SBA Closing team associates, attorneys, title companies, etc. to ensure the bank's security interest in collateral is perfected, including properly documenting pre- and post- loan closing lien search duties;
• Ensures the Bank's lien interests are covered by necessary insurances, as required by the SBA Standard Operating Procedure, Bank approval and Bank policy;
• Ensures the SBA loan is closed and documented according to SBA Standard Operating Procedure, Bank policy and lending authorities of the Bank prior to loan closing;
• Reviews loan closing package to confirm documentation is properly executed with all signatories, notaries and dates before shipping the original loan package to SBA Lending Operations for documentation storage;
• Tracks and ensures post-closing documentation, such as filed mortgages/deed/assignments, title work, etc., is received and reviewed for accuracy in a reasonable amount of time after loan closing, to confirm compliance with Bank and SBA requirements;
• Tracks and prompts shipment of loan closing packages from Bank associate or third-party company in charge of loan closing;
• Ships reviewed and approved post-closing documentation to SBA Lending Operations for documentation storage in a reasonable amount of time, after loan closing;
• Documents funding of all loan types, according to SBA Standard Operating Procedure and Bank policy;
• Manages SBA construction projects and monitors construction progress and funding, as needed;
• Performs pre-and post-loan closing peer reviews of loan files and loan documentation to ensure adherence to SBA Standard Operating Procedure and Bank policy;
• Tracks and clears collateral exceptions for SBA loans;
• Maintains loan files according to the Loan File Library and Naming Conventions created by the Bank;
• Provides a high level of customer service to both internal and external customers;
• Remains current on changing SBA and Bank policies and requirements;
• Performs other duties as assigned.

Qualifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required.

Skills

• In-depth understanding of SBA programs and requirements, including but not limited to the SBA Standard Operating Procedure;
• High-level of proficiency in Microsoft Office, Adobe and Capital Access Financial System and Etran;
• Knowledge of general banking operations and loan closings;
• Adaptability to frequently changing SBA requirements;
• Excellent reading comprehension, verbal and written communication skills;
• Self-motived to work autonomously, with high level of time management and multi-tasking skills to meet hard deadlines;
• Detail oriented, having strong organization and follow-through skills;
• Ability to identify problems, evaluate alternatives and implement effective solutions;
• Persistence to collect necessary documentation for a complete loan file;
• High degree of professionalism and excellent customer service skills with internal and external customers.

Education and/or Experience

• High School Diploma or equivalent required
• Prior experience, ideally 1-5 years in SBA financing, closing and/or servicing required

Computer Skills

• Intermediate knowledge of Microsoft Word, Excel, PowerPoint and Outlook (e.g. create templates, complete mail merges, insert and edit charts)
• The SBA Capital Access Financial System and Etran

Certificates, Licenses, Registrations

• None

Other Qualifications (including physical requirements)

Other

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Activities, duties and responsibilities may change at any time with or without notice.

Equal Employment Opportunity Information: Simmons First National Corporation and its subsidiaries are committed to a policy of equal employment with respect to a person's race, color, religion, sex, ancestry, sexual orientation, gender identity, national origin, covered veterans, military status, physical or mental disability or any other legally protected classifications.