Live Oak Bank · 2 days ago
Associate Loan Closing Specialist
United States
Full-time
Remote
Entry, Mid Level
$57K/yr - $93K/yr
2+ years expLive Oak Bank is a digital bank that serves small business owners across the country. The Associate Loan Closing Specialist is responsible for ordering and reviewing loan due diligence documents, quarterbacking the loan closing process, and ensuring a smooth, error-free loan closing by collaborating with various stakeholders.
BankingCreditFinancial ServicesLending
Responsibilities
Shows proficiency in closing for multiple verticals
Is responsible for the creation, distribution, and maintenance of the loan closing checklist
Collaborates with the borrower, attorneys, and any other third parties associated with the loan to ensure necessary documents and any other items are produced on time for the set closing date
Leads the closing kick-off call and is the point person for telephone inquiries from borrowers and Bank personnel regarding loans in process
Is the main point of contact with the borrower, answering questions to ensure the borrower has a clear understanding of the loan closing process, with attention to customer service and closing details
During the closing process, resolves or escalates potential problems to the Loan Team, Closing Team Manager, and/or Bank Attorney
Works to maintain clean loan files as independently as possible through research and problem solving, reaching out for assistance to Loan Closing Specialist I’s, II’s, and Closing Team Managers as needed
Has responsibility for assembling the credit file for accuracy and completeness prior to loans closing
Submits files for review in a timely manner and works with the assigned Closing Team Manager to have a minimal amount of items cited (5 or less)
Ensures the loan closing date is met or, based upon specific judgment, reschedules, and negotiates extensions of contracts if documents necessary for closing are not available or complete
Orders and reviews necessary documentation including attorney-prepared closing and construction loan closing documents. Makes independent decisions concerning the validation of the documentation to ensure underwriting and closing transpires according to Bank and regulatory requirements
Applies expertise and independent judgment to validate the loan structure with the lending team and works closely with the underwriter to ensure modifications are addressed properly
Coordinates with Quality Assurance, borrowers, and attorneys to clear loan exceptions
Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection, and determent of money laundering or other unlawful activities
Has responsibility for following SBA Standard Operating Procedure (SOP), USDA Operating Procedures & Live Oak Bank requirements
Functions as a team member and realizes all members of the team are vital to its success
Performs other duties as required
Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC
Qualification
Required
High school diploma or GED
Proficient with Microsoft Office (Word, Excel, and PowerPoint)
Strong organizational skills with the ability to prioritize workload
Professional and confidential disposition; exercise considerable judgment and discretion in handling confidential information
Excellent communication skills
Detail-oriented with a high degree of accuracy
Preferred
College degree in business or finance
2+ years of work experience with SBA and/or USDA
2+ years of legal or lending experience
Benefits
Annual bonuses
Long-term incentives
Paid sick leave
Company
Live Oak Bank
Live Oak Bank is a financial service company that offers banking services and products for small and medium businesses.
501-1000 employees
Funding
Current Stage
Public CompanyTotal Funding
$176.09M2025-07-28Post Ipo Equity· $100M
2017-11-21Series Unknown· $1.14M
2015-08-07IPO
Leadership Team
Neil Underwood
President and Chief Operating Officer
Evan Travis
SVP, Venture Banking
Recent News
2025-12-02
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