COMMERCIAL CLOSING UNIT SUPERVISOR - COMMERCIAL CREDIT ADM DEPT - FIRSTBANK PR

Commercial Closing Unit Supervisor

Commercial Credit Administration Department

FirstBank PR

Our Company

At FirstBank PR, we strive to be trusted advisors to our clients, and our employees are the ones that ensure we deliver on our promise of excellence in personalized customer service. Our more than 3,100 employees in Puerto Rico, the Virgin Islands and Florida share a passion for excellent customer service. We are proud of our team because they are continuously surpassing our client’s expectations.

Do you have a passion for helping customers, building relationships, and delivering extraordinary, personalized customer service? If your answer is yes, FirstBank is the number one place for you.

A Brief Overview:

The Commercial Closing Supervisor oversees the Commercial Closing staff. This Unit is in charge for the closing of commercial transactions while complying with the Bank’s Credit Policies and approval terms and conditions, in a timely and efficient manner. Works closely with Business unit Heads, Relationship Officers, Third Party Service Providers and clients. Assures that service Providers deliver a quality service in line with our client’s and the Bank’s expectations.

Accountable for adhering to the Bank’s BSA, AML and Office of Foreign Asset Control (OFAC) applicable policies. Employee must follow specific unit procedures developed in compliance with the policies. Employee is also responsible for reporting any suspicious activity and/or transactions in accordance with the Bank’s processes and comply with any mandatory BSA, AML and OFAC training assigned.

What You’ll Need to Succeed:

• Direct supervision of the work of all Closing Officers.

• Ensures compliance with the loans closing process as per the management approved workflow, SLA’s and controls.

• Prepares, leads and discusses with Bank Officers and Business Units, the closing pipeline and status of loans in pre-closing, closing or onboarding process. Assures a timely turnover, once terms and conditions are accepted by clients and/or prospect (negotiated by Relationship Officer), and all documentation needed is obtained.

• Develops strategies in order to be more efficient and effective in the closing process.

• Analyzes the proposed exceptions in order to recommend action plan to follow. Obtain approval when needed.

• Reviews standard documentation in use and recommends changes to assure the Bank’s interests are protected.

• Maintains the standard documentation updated with latest regulatory requirements and banking trends. Makes sure attorneys adopt the standard documentation.

• Coordinates with other unit supervisors for a cohesive closing process along all stages.

• Reviews and updates the Verification Checklist utilized as a guideline for documentation needed to complete our credit files and collateral. Assist closing officer in the reviews of collateral documentation to detect any possible exception. Obtains approval prior to closing for exceptions that cannot be cured prior to closing. Maintain an exception tracking system, for proper follow up.

• Assures Third Party Service Providers selected from the Bank’s approved lists, work with professionalism and deliver a high-quality service in line with our client’s and the Bank’s expectations.

• In coordination and teamwork with the peer pre/post-closing supervisor assures that the cases worked are in compliance with departmental and corporation procedures. Serves as backup of peer closing supervisor.

• Periodically, sends reports to Business Units for closing exceptions that need to be covered. Work together with Business Area, to correct any exception identified. Assure exceptions are controlled, tracked and covered.

• Assures compliance with the Bank’s policies, practices, and regulatory requirements, including: Know your Customer, OFAC, Flood, Environmental, PLC, etc.

• Assist with the preparation of unit presentations and the execution of special corporate projects.

Competencies:

• Leadership skills

• Strong knowledge of bank operational processes and systems

• Attention to detail and accuracy

• Strong problem-solving and decision-making abilities

• Superior Interpersonal skills

• Strong communication skills, both written and verbal – English and Spanish

• Self-directed and self-motivated with an ability to work in a fast-paced environment and efficiently manage multiple tasks and priority management

• Open, accessible communication

• Ability to work under pressure

• Must be a cooperative team player

• Proficient in the use of software including Word, Excel, etc., in addition to internal bank systems

What You’ll Need:

• A Bachelor’s Degree is required for this position.

• The incumbent must have more than seven years of experience in a similar position within Banking Industry.

• This experience must include at least: Banking Laws and Regulations, Collateral and Documentation. Knowledgeable in commercial lending and portfolio relationship management.

• Must possess proven business development skills, knowledge of the overall business marketplace, and a history of successful community involvement.

• Extensive understanding of business and financial fundamentals, with mathematical aptitude & advanced accounting & computer spreadsheet skills.

• Proven strong financial analysis skills.

• Demonstrated analytical, decision-making, and effective problem-solving skills.

• Maintain a thorough knowledge of credit services and a complete understanding of Loan Policy.

• Must be competent in the use of personal computer systems, internet applications and electronic mail, and various windows-based software applications to include, but not limited to, banking application, word processing, and spreadsheet software.

Disclaimer: The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilities, duties, skills required of personnel so classified. The reporting relationship may not reflect the most recent changes to the corporate reporting structure.

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