Asset Based Lending Loan Closer at JPMorgan Chase Bank, N.A. in Chicago, Illinois

Job Description:

Specific Responsibilities

• Read, comprehend and interpret complex loan and security agreements, other legal documentation as required and JPMC approval documents/memos (ABL loan documents are complex in nature, highly negotiated, and require finely tuned para-legal skills)
• Review loan documents for accuracy compared to what was approved via iCRD and resolve issues that arise
• Review loan documents for operational conditions, find minute changes in legal documentation that directly impact loan operations processes or ABLE loan system constraints (keeping in mind that front office or outside counsel may change operational conditions without consulting with or notifying loan closers)
• Review complex disbursement authorizations/funds flow, identify inconsistencies within the funds flow, be aware of what forms of wire transfers ABL can and cannot perform to adhere to JPMC policies and procedures
• Understand all aspects of fee accounting, ABLE fee types and transactions and their impact on JPMC general ledger and downstream impacts
• Understand JPMC's flood policy, ABL flood procedures, and LSF's role in flood due diligence;
• Identify risks inherent in loan documentation/loan structure, implement appropriate controls (e.g. quarterly interest, unusual amortization schedules)
• Identify appropriate team members within loan operations and other areas of ABL to effect the loan transaction and effectively coordinate and communicate with each deal team member as the transaction moves towards closing
• Analyze borrowing base components/structure and propose the 'best' borrowing base structure given ABLE system environment for ease of ongoing monitoring
• Structure and build the loan on ABLE as appropriate and based on respective loan documentation, seeking advise where necessary for more complex transactions/structures
• Coordinate, propose or actively participate in deal team meetings as necessary, depending on the complexity of the transaction and experience of portfolio in closing complex transactions to ensure smooth closing/funding
• Understand the depository account structure, funds flow/cash movements between accounts, cash dominion and impact on funds flow, funds transfer agreements, signature cards/corporate resolutions, etc. or have a basic understanding of fundamental bank depository products
• Coordinate closing and funding of transactions with deal team members such that loans are booked efficiently and with the proper sense of urgency for deadlines, this may include rigorously communicating clearly with ABL business partners and other loan operation areas.
• Prepare loan checklists, update loan database, file loan documents/information post close
• Follow-up and close outstanding issues related to the loan set-up including post-close issues identified by ABL Ops Risk Analyst.
• Assist in ABL loan operations projects as needed, analyze existing processes and propose improvements where identified, and be willing to contribute wherever possible
• Perform other project/tasks as assigned.

• Experience: Bachelors degree in accounting/finance/general business or 5+ years of related experience (level of responsibility will vary based on experience) preferred.
• Knowledge: Knowledge of the asset-based lending line of business, borrowing base concepts, and general knowledge of roles/responsibilities of syndications, originations, underwriting, portfolio, and field exam. Knowledge of loan documentation and willingness to gain more in-depth understanding of legal documents and terminology. Knowledge of fee accounting. Knowledge of flood regulation.
• Demonstrates Flexibility: Willingness to adjust to changing conditions and priorities; remains positive and optimistic during periods of change
• Communication:
• Superior communication and customer service skills, both internally and externally focused and verbal and written, speaks up and proactively notifies deal team members on updates. Ability to formulate open-ended questions in either verbal or written format.
• Teamwork: Motivated to pitch in and help out for the good of the team (ABL Operations and Deal Team), supportive, helpful to others, and collaborative
• Interpersonal Relationship Skills:
• Willingness to learn, receive direction, and ask well-thought-out questions. Maintains and/or builds relationships across all areas of ABL. Gains cooperation of deal team members.
• Respects different points of view and treats others with respect.
• Technical: Knowledge of ABLE or similar loan system and Microsoft applications (Excel, Word PowerPoint)
• Leadership:
• Takes responsibility, seeks out additional responsibilities, is highly respected by others, truthful & honest, inspires others to follow strategy/goals, excellent judgment. Delivers feedback to others, as applicable. Mentors and coaches others by leveraging experience within LSF, ABL loan ops and/or other related banking experience. Demonstrates flexibility to ensure that ABL Loan Operations delivers a world-class product to its clients.

JPMorgan Chase & Co., one of the oldest financial institutions, offers innovative financial solutions to millions of consumers, small businesses and many of the world's most prominent corporate, institutional and government clients under the J.P. Morgan and Chase brands. Our history spans over 200 years and today we are a leader in investment banking, consumer and small business banking, commercial banking, financial transaction processing and asset management.

We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants' and employees' religious practices and beliefs, as well as any mental health or physical disability needs.

Equal Opportunity Employer/Disability/Veterans