Equipment Finance Doc Specialist

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GENERAL FUNCTION: 

The Equipment Finance Documentation Specialist is responsible for all aspects of documenting, closing and funding Equipment Finance transactions.  This position will interface with the client, relationship manager, portfolio managers, asset managers and pricing managers for all matters related to the due diligence, documentation, perfection, closing and funding, and thus must be able to coordinate with and influence multiple parties while driving toward the shared goal of an excellent client experience.  Ensures that all documents required for closing are in place and coordinates judgmental "clear to close" decisions and any document or process exceptions with their manager or mentor. The Equipment Finance Documentation Specialist will prepare all lease/loan documents required for closing, and ensure that the business’ equipment liens and/or ownership are properly perfected in accordance with legal requirements, and Fifth Third Bank Policies and Procedures. 

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns and personally following policies and procedures as defined.  Accountable for always doing the right thing for customers, colleagues and the business and ensure that actions and behaviors drive a positive customer experience.  While operating within the Bank’s risk appetite, achieves results by working with their manager to consistently identify, assess, manage, monitor and report risks of all types. 

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Manage the entire transaction documentation and closing process for Equipment Finance transactions.
• Active member of the deal team working directly with the client, relationship manager, portfolio manager, asset manager and pricing manager to ensure that policy, compliance and regulatory matters necessary for closing are addressed early in the process.
• Effectively manages and prioritizes work queues for new lease/loan transactions.
• Proactively manages work-in-progress within the closing calendar, balancing the needs of multiple internal and external stakeholder simultaneously.
• Ensures that transactions are documented and closed per the instructions and conditions stated in the credit and asset management approval memo(s).
• Work with their manager to determine, obtain and analyze required due diligence items including, but not limited to:
  • Know Your Customer requirements
  • UCC searches
  • Proof of insurance
  • Entity Corporate documents
  • Assignment documents
  • UCC-1/UCC-3 preparation
  • Invoices/Proof of Payment
  • MSO/Titles

• Confirm wire instructions provided by vendor or customer are correct and accurate.
• Prepares appropriate documentation in compliance with the terms of the request.
  • Obtain all necessary approvals including accounting, tax, pricing, and legal to ensure that

    transactions meet the requirements of and protect the interests of Fifth Third Bank.

• Work with their manager to determine if enlisting assistance from legal counsel to advise on specific transaction issues and unresolved legal matters pertaining to transaction documentation is required.
• Promptly and accurately determine when all underwriting, pricing and/or equipment management approval conditions for funding have been satisfied.  Take appropriate actions to resolve deficiencies and if not able to resolve themselves, escalates disputes to appropriate level.
• Prepare ACE Transaction and funding communication to ensure proper disbursement of funds via wire, deposit account and check payments.
• Ensure proper filings are made and, if applicable, 3rd party subordinations/releases obtained to perfect Fifth Third’s liens/ownership (including proper motor vehicle title work).
• Ensure effective communication and coordination with applicable departments to finalize interim draws.
• Thoroughly understand lease/loan documentation and other source data to ensure proper boarding of all aspects of the transaction into the accounting system.
• Board lease/loan transactions to the accounting system.
• Take proactive steps to ensure that follow up items are received on a prompt and timely basis.
• Ensure all goals and departmental service standards are met.
• Escalate issues to appropriate personnel as necessary.
• Participate in projects as assigned.
• Present suggestions on efficiency improvements for the department.

Transaction types include, but are not limited to:

• Loans, including outside counsel prepared
• Finance Leases
• Tax Leases
• Sy