This position may be filled at different salary grade levels depending on requirements.
Candidate will work MST or PST work hours and need to be located in the West Region as there may be need to work partially at a local office location in business as usual environment. Will consider multiple locations including: Seattle, WA, Denver, CO, Phoenix, AZ, Portland, OR, Salt Lake City, UT, Dallas, TX.
Lead Service Officer Job Description: Responsible for all pre-closing and closing functions required for credit products offered by Real Estate Capital, primarily the Income Property Group (IPG) or other KeyBank lines of business as required by credit policy, including compliance with credit policy, internal compliance procedures (OFAC, Patriot Act, Beneficial Ownership etc.), credit approval, and documentation standards according to internal closing procedures and controls. Maintain an assigned portfolio consisting of simple to moderately complex construction and interim loans (including multiple tranche transactions), line of credit facilities, standby letters of credit or revenue bond transactions, any of which may be syndicated/participated. Responsible for providing superior internal and external client service while managing risk to KeyBank. Assist or lead projects and initiatives and offers suggestions to support a continuous improvement mindset.
Essential Job Functions:
Provides closing expertise to RM/PM in pre-closing process through review of items required to close, review of credit approval and assistance with review of commitment letter and loan documentation
Drives closing process with client, utilizing closing checklist to identify and monitor progress of items required to close and responsible parties for such
Engages/coordinates outside consultants necessary for the transaction including legal counsel
Accumulates and reviews all loan documentation and other information for conformity to credit policy, credit approval, and commitment letter; reviews and negotiates client-requested changes with counsel and/or RM as appropriate
Ensures ongoing communication with client, RM, PM, legal counsel, title agent, consultants, Servicing Officer and all other necessary parties during pre-closing and closing process
Works with Servicing Officer, consultants and RM to ensure project budget is balanced and conforms to loan approval.
Delivers distinctive personalized service to external and internal clients; participates in client meetings
Ensures all pre-closing conditions of approval are met
Provides authorization to close to Servicing Officer; works closely with multiple parties to achieve a well-coordinated and timely closing, funding and booking of the transaction
Effectively communicates and works with banks on syndicated/participated transactions; leads or participates in syndication bank group meetings (each with Team Lead assistance as needed) and ensures Bank documentation and closing requirements are met
Coordinates collection of all fees and charges necessary to close transaction
Provides required documentation for booking transaction and fees
Utilizes RECWeb system for timely updates on deal status, and timely uploading and maintaining of closing file and all appropriate documents
Proactively monitors all post closing items
Utilizes Compliance Applications in order to ensure adherence to all governmental and fiduciary laws, including OFAC, Patriot Act and Beneficial Ownership
Clearly and immediately communicates problems/issues and elevates appropriately; assists in resolving issues affecting client service and risk management
Adheres to timeframes for all required training
Participates and sometimes leads various ad hoc projects, as needed
Senior Service Officer Job Description- same as Lead Service Officer but also includes Maintain a higher volume assigned portfolio consisting of moderate to highly complex construction and interim loans (including multiple tranche transactions), line of credit facilities, standby letters of credit or revenue bond transactions, any of which may be syndicated/participated. Independently manages assigned work with limited oversight from Manager and offers assistance to others as time permits. Responsible for providing superior internal and external client service while anticipating and mitigating risk to KeyBank. Lead projects and initiatives and offers suggestions to support a continuous improvement mindset. Provide ongoing coaching and mentoring to others and serve as a back-up to the Manager, as needed.
Essential Job Functions- Same as Lead Service Officer position but also includes
Proactively drives closing process with client
Effectively communicates and works with banks on syndicated/participated transactions; leads or participates in syndication bank group meetings and ensures Bank documentation and closing requirements are met
Coaches and mentors others on the team; serves as a back-up to the Manager, as needed.
Called on to lead various ad hoc projects, as needed
The Lead Service Officer position is eligible to earn a base salary in the range of $60,000.00 to $80,000.00 annually depending on job-related factors such as level of experience. The Senior Service Officer position is eligible to earn a base salary in the range of $66,000.00 to $95,000.00 annually depending on job-related factors such as level of experience. Compensation for these roles also includeseligibility forshort-term incentive compensation and deferred incentive compensation subject to individual and company performance. Please click here for a list of benefits for which this position is eligible.
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to building a diverse, equitable and inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other protected category.
Lead Service Officer Required Qualifications (License, Certificates, Education, Skills, etc.):
4-year College Degree or equivalent real estate business experience
Paralegal training, law degree and/or LPO license preferred
Experience with closing process and real estate loan financing including commitment/loan structures, title/liens, insurance, loan documents, contracts, leases, AIA document, project budgets and other legal documentation and compliance with governmental legal requirements.
Strong solution-oriented and problem-solving skills; detail-oriented
Demonstrated decision-making ability
Experience with multi-bank loan participations/syndications and secondary market standards
Strong aptitude for analysis, systems and mathematics
Strong written and verbal communication skills
Strong planning and organizational skills
Proven ability to prioritize and handle multiple tasks in a high-volume environment
Familiarity with commercial loan accounting systems
PC proficiency including familiarity with Microsoft Excel and Word.
Senior Service Officer Required Qualifications: Those included in Lead Service Officer position and the additional qualifications listed below:
Ability to work independently without on-site direct supervision
Extensive knowledge and experience in construction and interim loan financing including commitment/loan structures, title/liens, contracts, leases, AIA documents, project budgets, insurance, loan documents and other legal documentation, and compliance with state/market legal requirements
Demonstrated ability to prioritize and handle multiple tasks in a high closing volume environment
Significant experience with multi-bank loan participations/syndications and secondary market standards
For both positions Competencies desired include: accountability, business acumen, client focus, develop self, staff, and others, drive for results, collaboration, lead change, managerial courage and manage vision/purpose.
Internal Number: JRP-000078098
Headquartered in Cleveland, Ohio, KeyCorp (Key) is one of the nation’s largest financial services companies. Key provides investment management, retail and commercial banking, consumer finance and investment banking products to individuals and companies throughout the United States and, for certain businesses, internationally.
At Key we’ve made a promise to our clients that they will always have a champion in us. To deliver on that promise, we’re committed to building a team of engaged employees who do the right thing for our clients and help them achieve their financial goals each and every day.