Sr. Custom Loan Specialist

About 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.

We have a balanced hybrid working model to ensure you get the flexibility you need, and the successful candidate will spend their time between working in the office and working from home.

Under general supervision (but works independently move of the time) responsible for the preparation of commercial loan documentation and/or review of attorney prepared commercial loan documentation. Works closely with relationship banking staff on complex loan transactions to ensure all necessary terms and conditions are understood and assures that documentation of the corporation’s loan portfolio is complete and accurate to protect bank assets. Determines documentation needed for loan facilities based on review of the credit approval package, prepares and reviews legal documents to ensure accuracy, coordinates loan closings and prepares loan boarding forms for set up on the banks loan system. Develops and recommends new procedures and operational controls to protect loan documentation and customer information. Participates in training of new hires and junior team members. Uses specific knowledge of a discipline to achieve goals through own work. Has specific knowledge or expertise typically gained through formal education or equivalent experience. Continues to build knowledge of the company, processes and clients.

Key responsibilities include:

• Determines the legal, regulatory, compliance and bank policy documents needed to finalize all loan transactions 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 the banks computer application software and standard bank legal templates for new, renewed and increased consumer, personal real estate and commercial loans. Reviews complex, externally prepared legal documents and understands all terms and conditions required for closing

• Reviews organizational documents to determine correct legal name and authority to enter into and execute legal documentation. Reviews complete legal documentation prior to execution to ensure accurate depiction of loan terms and that documentation meets compliance with all applicable regulations

• Determines the appropriate level of borrower and collateral due diligence required for each loan transactions and works to collect all required documents including but not limited to KYC/OFAC, Flood Determinations, UCC searches, Good Standing Certificates, Title Commitments, etc.

• Acts as a resource for relationship team for highly complex loan transactions. Interacts with legal department, outside law firms and account officers to clarify unfamiliar or non-standard loan documentation

• Prepares internal booking forms and collateral set ups needed for boarding loans. Submits completed loan packages that include all necessary compliance, regulatory and bank policy documents along with all executed loan documents to the Loan Documentation Unit for funding approval and booking

• Prepares summary reports of each existing loan audited for review by division and appropriate senior management

• Develops and recommends new procedures and operational controls to protect loan documentation and customer information

• Develops and maintains working knowledge of all loan products and collateral types and is proficient in the different requirements of each. Trains new hires or junior team members as needed

• Analyzes possible solutions using technical experience and judgment and precedents

• Impacts quality of own work and the work of others on the team

• Works within guidelines and policies

The successful candidate will benefit from having:

• Knowledge of personal and commercial loan documentation usually acquired through previous experience in loan documentation

• Strong knowledge of requirements for commercial real estate and syndicated loan transactions.

• Knowledge of commercial banking systems usually acquired through experience is required to extract information from various systems for analysis

• Strong knowledge of regulatory req