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Form of workAbout Northern Trust:
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
As a Custom Loan Specialist you will be responsible for preparing the proper loan documents for the corporation's Wealth Management loan portfolio. Determines documentation needed for new loans and renewed loans based on review of credit approval sheet, prepares loan documents and reviews docs to ensure accuracy, coordinates loan closings and sets up loans on the loan system. Develops and recommends new procedures and operational controls to process loan documentation and collateral set ups.
The key responsibilities of the role:
Determines the legal, regulatory, compliance, and administrative documents needed to finalize all new, renewed, and increased loans to ensure that they support the approved loan structure and comply with Corporate Credit Policy, internal legal guidelines and meet all regulatory compliance standards.
Prepares legal documents using computer application software and standard bank legal templates, for new, renewed and increased consumer, personal, real estate and commercial loans.
Determines appropriate level of borrower and collateral due diligence and works with due diligence team to collect all required documents needed for the loan transaction (UCC searches, title commitments, good standing, OFAC, Flood Determination).
Reviews organizational documents to determine correct legal name and authority to enter into and execute legal documentation, review completed legal documentation prior to execution to ensure accurate depiction of loan terms and that documentation meets compliance with all applicable regulations.
Interacts with legal department, outside law firms and account officers to clarify unfamiliar or non-standard loan documentation.
Prepares booking forms and collateral set up sheets for boarding loans.
Before loan funding is allowed, determines the level of waiver action required when proper documentation is not available at closing.
Submits completed loan packages to Loan Documentation Unit for funding approval and boarding.
Develops and recommends new procedures and operational controls to protect loan documentation and customer information.
Qualifications
In depth experience of loan documentation preparation. Must have some experience using legal documentation software or similar application in the financial or legal industry (i.e. Laser Pro).
Knowledge of personal and commercial loan documentation usually acquired through previous experience in loan documentation.
Strong knowledge of requirements for commercial real estate and construction loans is preferred; knowledge of and experience with Laser Pro Documentation System preferred or knowledge and experience with preparing Microsoft Word based loan documentation.
Experience and familiarity in, reviewing title commitments, setting up closings, reviewing and processing flood determinations and reviewing lien waivers is required.
Strong knowledge of regulatory requirements related to real estate, OFAC and KYC preferred. Knowledge of commercial banking systems usually acquired through experience is required to extract information from various systems for analysis.
Analytical and computer skills are required to analyze documentation, identify deficiencies, understand collateral procedures, and work with system databases.
Good communications skills are required to consult with attorneys, relationship managers and other parties regarding loan documentation issues.
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.
Northern Trust, a Fortune 500 company, is a globally recognized, award-winning financial institution that has been in continuous operation since 1889.
Northern Trust is proud to provide innovative financial services and guidance to the world's most successful individuals, families, and institutions by remaining true to our enduring principles of service, expertise, and integrity. With more than 130 years of financial experience and over 22,000 partners, we serve the world's most sophisticated clients using leading technology and exceptional service.
As a Custom Loan Specialist you will be responsible for preparing the proper loan documents for the corporation's Wealth Management loan portfolio. Determines documentation needed for new loans and renewed loans based on review of credit approval sheet, prepares loan documents and reviews docs to ensure accuracy, coordinates loan closings and sets up loans on the loan system. Develops and recommends new procedures and operational controls to process loan documentation and collateral set ups.
The key responsibilities of the role:
Determines the legal, regulatory, compliance, and administrative documents needed to finalize all new, renewed, and increased loans to ensure that they support the approved loan structure and comply with Corporate Credit Policy, internal legal guidelines and meet all regulatory compliance standards.
Prepares legal documents using computer application software and standard bank legal templates, for new, renewed and increased consumer, personal, real estate and commercial loans.
Determines appropriate level of borrower and collateral due diligence and works with due diligence team to collect all required documents needed for the loan transaction (UCC searches, title commitments, good standing, OFAC, Flood Determination).
Reviews organizational documents to determine correct legal name and authority to enter into and execute legal documentation, review completed legal documentation prior to execution to ensure accurate depiction of loan terms and that documentation meets compliance with all applicable regulations.
Interacts with legal department, outside law firms and account officers to clarify unfamiliar or non-standard loan documentation.
Prepares booking forms and collateral set up sheets for boarding loans.
Before loan funding is allowed, determines the level of waiver action required when proper documentation is not available at closing.
Submits completed loan packages to Loan Documentation Unit for funding approval and boarding.
Develops and recommends new procedures and operational controls to protect loan documentation and customer information.
Qualifications
In depth experience of loan documentation preparation. Must have some experience using legal documentation software or similar application in the financial or legal industry (i.e. Laser Pro).
Knowledge of personal and commercial loan documentation usually acquired through previous experience in loan documentation.
Strong knowledge of requirements for commercial real estate and construction loans is preferred; knowledge of and experience with Laser Pro Documentation System preferred or knowledge and experience with preparing Microsoft Word based loan documentation.
Experience and familiarity in, reviewing title commitments, setting up closings, reviewing and processing flood determinations and reviewing lien waivers is required.
Strong knowledge of regulatory requirements related to real estate, OFAC and KYC preferred. Knowledge of commercial banking systems usually acquired through experience is required to extract information from various systems for analysis.
Analytical and computer skills are required to analyze documentation, identify deficiencies, understand collateral procedures, and work with system databases.
Good communications skills are required to consult with attorneys, relationship managers and other parties regarding loan documentation issues.
Working with Us:
As a Northern Trust partner, greater achievements await. You will be part of a flexible and collaborative work culture in an organization where financial strength and stability is an asset that emboldens us to explore new ideas.
Movement within the organization is encouraged, senior leaders are accessible, and you can take pride in working for a company committed to assisting the communities we serve! Join a workplace with a greater purpose.
We'd love to learn more about how your interests and experience could be a fit with one of the world's most admired and sustainable companies! Build your career with us and apply today. #MadeForGreater
Reasonable accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation for any part of the employment process, please email our HR Service Center at MyHRHelp@ntrs.com.
We hope you're excited about the role and the opportunity to work with us. We value an inclusive workplace and understand flexibility means different things to different people.
Apply today and talk to us about your flexible working requirements and together we can achieve greater.
