Fast growing regional bank in New Jersey is seeking a lawyer for the position of Associate Counsel Commercial Transactions.
This position provides legal support to the Closing and Legal Departments in connection with facilitating the process of commercial loans when the bank prepares documents internally or is represented by outside counsel. Primary duties include coordinating the retention of outside counsel for transactions and handling of pre-closing loan due diligence monitoring, review of documentation and various tasks to support the movement of loans from approval to closing and the supervision of Closing Administrator(s) to accomplish similar non attorney tasks. The Bank Counsel is responsible for the oversight and completion of the external due diligence and compliance monitoring of the loan closing process for the Bank’s Closing department. Responsibilities also include legal support for all aspects of internally documented Commercial and Business Banking Loans as needed. In addition, the position may provide internal and external legal services to all other departments and essential functions of the Bank.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- The Bank Counsel is responsible for the oversight and completion of the external due diligence and compliance monitoring of the loan closing process for the Bank’s Closing department. The process includes: (1) review and monitoring of receipt and completion of loan due diligence responses; (2) preparation of correspondence with outside counsel; (3) compliance review of prepared loan documents for new and modified commercial loans in accordance with the Bank’s policies and procedures; and (4) final sign off for loan closings
- Review of executed term sheets and credit approval documents to prepare transaction letters and confirm compliance by counsel of the Bank’s documentation and due diligence requirements.
- Negotiation and preparation of addenda for internal loan documentation.
- Review of searches, surveys, metes and bounds descriptions and entity documents to ensure conformance with the loan approval, conditions and requirements of the Bank for closing.
- Prepare commercial loan documentation and closing processes for internally prepared loans and oversee outside counsel representation to ensure compliance with documentation and closing processes, Bank loan commitment, underwriting and legal standards. Responsible for review of commercial loan documentation templates and various legal forms.
- Address legal issues, document preparation and oversight regarding loan participations, purchases and sales, REO sales, and other transactional matters, including contract and lease review.
- Provide guidance for post-closing supervision as needed.
- Responsible for supervising of the work performance of certain Closing Department employees as needed.
- Legal research and memo writing related to banking matters.
- Oversight and preparation of annual due diligence and assessment of outside counsel supporting all areas of the bank and review of paralegal prepared documentation and various legal due diligence assessments.
Knowledge, Skills & Abilities
- Working knowledge of Federal/State legal requirements applicable to commercial lending and general real estate transactions of a financial institution.
- Specialized skills in legal draftsmanship and negotiation skills applicable to contracts, commercial real estate matters and commercial loan transactions.
- Ability to interface with tact and diplomacy at all levels of the Bank and with outside individuals/firms.
- Excellent communications skills, interpersonal skills, and attention to detail.
- Ability to lead and work in diverse teams with shared responsibility and accountability.
- Proficiency using standard office software and legal research tools.
Experience & Education
- Juris Doctorate degree, State Law License;
- Three or more years experience in commercial banking and real estate transactions representing a lender or bank. In House experience is not required but would be a plus.
- Experience that demonstrates maturity, good judgment, and discretion handling confidential information.
Internal and External Contacts
- Internal contacts are with management, direct reports to senior management and officers and staff of various Bank divisions and departments.
- External contact with attorneys both bank retained and customer represented; banking, real estate, and other professionals, and certain federal and state regulatory officials.
Salary commensurate with experience. Bonus eligible position. Hybrid work model.