Commercial Loan Closer II

Company Overview:

Peapack Private Bank & Trust is a well-recognized, high-performing boutique bank and a leader in wealth, lending, and deposit solutions. We provide a broad range of sought-after products and services designed to help our clients establish, maintain, and grow their legacy through an innovative approach to private banking.

What makes Peapack Private different from our competition? As an institution with over 100 years of history, we have always believed in putting the well-being and needs of our employees and clients first. We are proud to be recognized by American Banker for the eighth consecutive year as one of the nation’s “Best Banks to Work For.” Our secret sauce, in a word, is our culture.

We value a diverse, equitable, inclusive, and safe workplace. Our one-team culture goes to great lengths to show all employees that they are valued members of the organization. We treat one another like family and communicate across the Bank in a transparent and frequent manner, respect and consider feedback from all levels, and operate with a philosophy grounded in hospitality and genuine human kindness.

There are multiple ways to build relationships and get involved; from joining one of our Cultural Ambassador sub-committees (focused on Wellness, Employee Fun, Diversity & Inclusion, or Environmental Awareness), to participating in community service activities through our Volunteerism outreach, to joining LIFT (Leading Inspiring Females Together), a committee focused on enriching the lives of women. Simply put, our culture is amazing.

Position Overview:

The Commercial Loan Closer II is responsible for executing the closing process for loan products across several commercial lines of business including Commercial Real Estate (CRE) &  Multifamily (MF), Commercial and Industrial (C&I), Healthcare, Wealth, and Community Banking supported by the Commercial Loan Closing Team. This role manages assigned commercial loan closings ensuring all pre‑ and post‑closing documentation is accurate, complete, and compliant with regulatory and internal policies. This position may close agented or participated transactions, secondary market trades, letters of credit, and/or construction loans, while providing high‑quality service to clients and internal partners throughout the closing process.

Key Responsibilities:

• Document Management.  Prepare, review, and organize all commercial loan documentation, ensuring accuracy and completeness.  Execute a prudent closing process for all loan products including new loans, amendments, modifications, extensions and renewals.  Prepare, review, and approve the closing package and settlement statement.  Review legal documents for completeness and accuracy.
• Compliance.  Evaluate the loan approval and closing documentation to ensure all pre-closing conditions and issues have been appropriately identified and accurately addressed.  Confirm KYC and CIP have been completed.  Maintain ongoing awareness of all legal and regulatory changes that may affect closing procedure.
• Due Diligence.  Review, and when applicable order, required due diligence items, including UCC searches, Good Standing or Business Status Reports, and applicable insurance coverage, including flood, based on loan type.
• Coordination.  Act as a liaison between relationship managers, underwriters, attorneys, and internal teams to facilitate a smooth and timely closing process.  Actively engage and manage all vendors involved in the transaction.
• Funding Process.  Prepare wires for funding and ensure funding was processed including OFAC and Callbacks.
• Record Keeping.  Maintain accurate and organized records of all transaction communications, documentation, and funding activities.  Follow-up with Counsel if full closing package is not received within 10 business days of Closing.
• Transaction Coordination.  Coordinate with the Loan Operations team to ensure that the transaction is properly recorded within the core receivable system.  Coordinate with Collateral Team to ensure that all executed documentation is properly received and recorded in accordance with regulatory requirements.  Identify exceptions that require post-closing follow-up.

Qualifications:

• Bachelor’s degree in business related field preferred
• Minimum 8 years working in a Commercial Lending Department or Bank Environment
• Significant knowledge of Commercial Lending Credit Agreements
• Effective oral and written communication skills
• Effective customer service skills-internal and external
• Detail oriented
• Superior multi-tasking skills
• Experience with basic office programs and equipment including Microsoft Office
• Knowledge of Jack Henry System Silverlake a plus, not a requirement

Benefits Overview:

We offer a competitive compensation package, a generous paid time off program, comprehensive medical, dental and vision coverage, maternity/paternity leave, education reimbursement, wellness programs and more.  We also offer participation in an Employee Stock Purchase Program and a 401K with a generous match.

The approximate pay range for this position is $68,456 to $89,000, plus an opportunity to earn performance-based incentives. Please note that the pay range provided is a good faith estimate for the position at the time of posting. Final compensation may vary based on factors including, but not limited to knowledge, skills and abilities, as well as geographic location.

Note: Incentives and/or benefits packages may vary depending on the position. 

Salary : $68,456 - $89,000