Loan Closing Associate - Commercial Bank

Loan Closing Associate - Commercial Bank

Are you looking for a challenging role that includes the convenience of working virtually at home? Then a Capital One Commercial Operations role may be the role for you! You must be within 50 miles driving distance from one of our Capital One hub locations in Plano, TX,  Richmond, VA or Charlotte, NC.

Capital One Commercial Client Operations (CCO) is looking for candidates to support the growing Commercial Loan Operations Closing Team. The team supports day to day operations of loans pertaining to unique or niche industries that require special handling and industry knowledge. The primary function is loan closing and funding within the various lines of business that comprise Middle Market and Municipal Banking. The role includes analytical components (i.e. interpreting credit agreements) related to various loan/fee accruals, calculations as well as ongoing/ad-hoc reconciliation and remediation, and driving the closing process for commercial loan products, which include new loans, modifications and extensions. 

The Associate will be the primary contact and decision maker for all aspects of the deal closing process.The ability to learn quickly and to adapt to change are important skills to the role, as well as excellent verbal and written communication skills and product knowledge. Additionally, important is the ability to clearly convey complex concepts and issues in a concise way; as well work collaboratively among stakeholders to help facilitate ongoing change management – all while living our core values.

Responsibilities: 

• Review complex loan documents, drive deal closing calls that include internal and external deal team members and counsel.
• Ensure legal documentation accurately reflects the intentions of the credit approval.
• Facilitate teamwork and continuity.
• Solid knowledge required for the role and pursues gaining new knowledge when required.
• Positively accept change and engage productively with the team and relevant stakeholders.
• Ensure transactions are closed in compliance with the Bank’s loan policy and any other requirements designated by the credit approval.
• Works with the Relationship Manager/Underwriter to understand the transaction and make sure that all relevant documentation is obtained for a timely closing.
• Liaise and coordinate pre-closing requirements with internal and external clients (Underwriter, Relationship Manager, Borrowers, Agent Banks).
• Demonstrate ability to balance required regulatory and policy requirements when making decisions.
• Remain current on all pending and proposed regulatory changes affecting compliance.
• Ensure Know Your Customer “KYC” requirements have been met prior to closing a transaction.
• Resolve issues that might impede closing and use judgment to involve the manager and internal counsel when required.
• Complete post-closing steps to ensure that all necessary documentation is received by downstream partners.
• Monitor and clear loan exceptions; respond to audit requests
• Book and fund new loans and related activities in the loan accounting system.
• Perform process quality reviews of work such as cash break analysis and comprehensive testing of system enhancements.
• Develop, design, and follow inter-departmental controls and risk reducing processes.
• Prepare and submit periodic departmental, team, and metric reports.
• Maintain accuracy and customer satisfaction as the singular priority.

Work from Home Technology Requirements:

• A secure home office environment that is free from background noise and distractions
• A reliable private internet connection that is not supplied via cellular data or hotspot 
  • A private network that is password protected where you have ownership or line of sight to every device on the network
  • Internet service must be provided by Cable or fiber Internet Service Provides (ISP) 
  • Hotspots and satellite services are prohibited and do not meet performance criteria required for optimal agent/customer interactions
  • ISP download speeds on VPN must be at least 5Mbps, with 10+ Mbps preferred
  • To validate ISP speeds from a Chrome browser, go to www.google.com, type Speed Test and run from the Google landing page
• Both Hardwire and WiFi internet connections are acceptable as long as speed and security requirements are met

Capital One reserves the right to request proof of internet provider, speed and service package from the associate. Requirements are subject to change, as new systems and technology are delivered. Capital One reserves the right to modify internet service requirements with sixty (60) days notice. Internet Service Provider specs can change by provider and location within the US. If you are experiencing consistent issues with internet stability Capital One reserves the right to ask the agent to upgrade internet service to ensure a good customer experience.

Work from Home Living Requirements:

• Candidates must live within approximately 50 miles of one of the hub locations based in 75024, 23238 or 28203 and be comfortable coming in person whenever required with no less than 24 hours notice. 

Basic Qualifications:

• High School Diploma, GED or equivalent certification
• At least 1 year of Loan Closing or Loan Servicing experience in Commercial or Business Banking

Preferred Qualifications:

• Bachelor’s Degree or Military experience
• 2+ years of Commercial Loan Closing or Commercial Loan Servicing experience
• 2+ years of Loan Syndication (agent or participant) experience
• 1+ years of experience with ACBS

At this time, Capital One will not sponsor a new applicant for employment authorization, or offer any immigration related support for this position (e.g. H1B, F-1 OPT, F-1 STEM OPT, F-1 CPT, J-1, TN, E-3, and O-1, or any other forms of work authorization that require immigration support from an employer).

#CommOps

The minimum and maximum full-time annual salaries for this role are listed below, by location. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Capital One is willing to pay at the time of this posting. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

Charlotte, NC: $66,700 - $76,100 for Closing AssociatePlano, TX: $66,700 - $76,100 for Closing AssociateRichmond, VA: $66,700 - $76,100 for Closing Associate

Candidates hired to work in other locations will be subject to the pay range associated with that location, and the actual annualized salary amount offered to any candidate at the time of hire will be reflected solely in the candidate’s offer letter.

This role is also eligible to earn performance based incentive compensation, which may include cash bonus(es) and/or long term incentives (LTI). Incentives could be discretionary or non discretionary depending on the plan.

Capital One offers a comprehensive, competitive, and inclusive set of health, financial and other benefits that support your total well-being. Learn more at theCapital One Careers website. Eligibility varies based on full or part-time status, exempt or non-exempt status, and management level.

This role is expected to accept applications for a minimum of 5 business days.No agencies please. Capital One is an equal opportunity employer (EOE, including disability/vet) committed to non-discrimination in compliance with applicable federal, state, and local laws. Capital One promotes a drug-free workplace. Capital One will consider for employment qualified applicants with a criminal history in a manner consistent with the requirements of applicable laws regarding criminal background inquiries, including, to the extent applicable, Article 23-A of the New York Correction Law; San Francisco, California Police Code Article 49, Sections 4901-4920; New York City’s Fair Chance Act; Philadelphia’s Fair Criminal Records Screening Act; and other applicable federal, state, and local laws and regulations regarding criminal background inquiries.

If you have visited our website in search of information on employment opportunities or to apply for a position, and you require an accommodation, please contact Capital One Recruiting at 1-800-304-9102 or via email at [email protected]. All information you provide will be kept confidential and will be used only to the extent required to provide needed reasonable accommodations.

For technical support or questions about Capital One's recruiting process, please send an email to [email protected]

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Capital One Financial is made up of several different entities. Please note that any position posted in Canada is for Capital One Canada, any position posted in the United Kingdom is for Capital One Europe and any position posted in the Philippines is for Capital One Philippines Service Corp. (COPSSC).