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Responsible for preparing the proper loan documents for the corporation's Wealth Management loan portfolio.  Determines documentation needed for new loans and renewed loans based on review of credit approval sheet, prepares loan documents and reviews docs to ensure accuracy, coordinates loan closings and sets up loans on the loan system.  Develops and recommends new procedures and operational controls to process loan documentation and collateral set ups.
    
Major Duties /Responsibilities

  1. Determines the legal, regulatory, compliance, and administrative documents needed to finalize all new, renewed, and increased loans to ensure that they support the approved loan structure and comply with Corporate Credit Policy, internal legal guidelines and meet all regulatory compliance standards. 
  2. Prepares legal documents using computer application software and standard bank legal templates, for new, renewed and increased consumer, personal, real estate and commercial loans.  
  3. Determines appropriate level of borrower and collateral due diligence and works with due diligence team to collect all required documents needed for the loan transaction (UCC searches, title commitments, good standing, OFAC, Flood Determination).
  4. Reviews organizational documents to determine correct legal name and authority to enter into and execute legal documentation, review completed legal documentation prior to execution to ensure accurate depiction of loan terms and that documentation meets compliance with all applicable regulations.
  5. Interacts with legal department, outside law firms and account officers to clarify unfamiliar or non-standard loan documentation.
  6. Prepares booking forms and collateral set up sheets for boarding loans.
  7. Before loan funding is allowed, determines the level of waiver action required when proper documentation is not available at closing. 
  8. Submits completed loan packages to Loan Documentation Unit for funding approval and boarding.
  9. Develops and recommends new procedures and operational controls to protect loan documentation and customer information.   


Knowledge/Skills
  • Knowledge of personal and commercial loan documentation usually acquired through previous experience in loan documentation is required. In particular, strong knowledge of requirements for commercial real estate and construction loans is preferred; knowledge of and experience with Laser Pro Documentation System preferred or knowledge and experience with preparing word based loan documentation.  
  • Experience and familiarity in, reviewing title commitments, setting up closings, reviewing and processing flood determinations and reviewing lien waivers is required. 
  • Strong knowledge of regulatory requirements related to real estate, OFAC and KYC preferred.  
  • Knowledge of commercial banking systems usually acquired through experience is required to extract information from various systems for analysis. Analytical and computer skills are required to analyze documentation, identify deficiencies, understand collateral procedures, and work with system databases.  
  • Good communications skills are required to consult with attorneys, relationship managers and other parties regarding loan documentation issues
    
Experience Required  
  • 3+ years loan documentation preparation experience.  
  • Must have a minimum of 2 years’ experience using Laser Pro legal documentation software or similar application in the financial or legal industry.

For more than a century, Northern Trust has worked hard building our legacy of outstanding service, expertise and integrity. From a Chicago-based bank founded in 1889, we now have more than 20 international locations and 18,500 employees globally. We serve the world’s most-sophisticated clients – from sovereign wealth funds and the wealthiest individuals and families, to the most-successful hedge funds and corporate brands.

We burnished our reputation as a global leader delivering innovative investment management, asset and fund administration, fiduciary and banking solutions enabled by sophisticated, leading technology. And through it all, we continually laid a solid, forward-looking foundation on which future generations can continue growing and achieving greater.


As of December 31, 2018, Northern Trust Corporation had:
  • $10.1 trillion in assets under custody/administration
  • $7.6 trillion in assets under custody
  • $1.1 trillion in assets under management
  • $132 billion in banking assets 

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Reasonable Accommodation
Northern Trust is committed to working with and providing reasonable accommodations to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please email our HR Service Center or call 1-800-807-0302 (North America), +630-276-5353 (Asia Pacific), +44(0)207 982 4357 (Europe, Middle East and Africa) and let us know the nature of your request and your contact information.

Equal Employment Opportunity Statements
  • APAC EEO Statement
    • APAC EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • Canada EEO Statement
    • Canada EEO STATEMENT

      Northern Trust is an Equal Opportunity Employer. Hiring and other employment decisions at Northern Trust are made without regard to race, colour, religion, sex, ancestry, national origin, ethnic origin, age, disability, citizenship, veteran status, sexual orientation, record of offences, marital status, family status, or any other characteristic protected by federal, provincial, or local law, regulation, or ordinance.

  • EMEA EEO Statement
    • EMEA EEO STATEMENT

      It is the policy and practice of Northern Trust to provide equal employment opportunities to all employees and applicants. Northern Trust does not discriminate on the basis of race, colour, religion or belief, nationality, ethnic or national origin, sex, marital status, sexual orientation, disability or age. All employment decisions will be made in a non-discriminatory manner in accordance with our obligations under the law and codes of practice. This includes human resources’ decisions relating to recruitment, terms and conditions of employment, transfers, promotions and access to learning and development.

  • USA EEO Statement
    • USA EEO STATEMENT

      It is the policy of The Northern Trust Company to afford equal opportunity in all phases of employment without regard to an individual's age, race, color, religion, creed, gender, national origin, citizenship status, marital status, pregnancy, sexual orientation, gender identity, gender expression, genetic tests and information, physical or mental disability, protected veteran status or any other legally protected status. EEO poster (U.S.)EEO is Law Poster Supplement