Commercial Loan Closing Coordinator IV

How would you like to join one of the most highly regarded community-focused financial institutions in the Tri-State area?  Provident Bank is a high-performing, $14 billion company that continues to expand with branches in New Jersey, Eastern Pennsylvania and New York.  Our longevity is a testament to our commitment to placing our employees, customers, and the communities we serve at the center of all we do.  Apply today and discover what our commitment to enhancing our employee and customer experience is all about.  



The position’s role is responsible for accurately facilitating all loan-closing activities for Commercial Real Estate, Business Banking, Middle Market, Wealth Management and Asset Recovery. Maintaining a courteous and professional relationship with customers, Relationship Managers, Loan Servicing and other outside professionals. Job performance is evaluated on accuracy, timeliness, productivity and customer satisfaction. This position will also be responsible for administering assigned construction loans within the loan portfolio. Incumbent is expected to be proficient in the administration of complex construction loans, including the preparation of detailed and accurate spreadsheets, budgets, title review, partial releases, etc.




In accordance with Bank and Departmental Policy, prepares and reviews pre-closing documentation for commercial lending, commercial real estate, construction, and permanent loans, including modifications.  This includes organization of files, review of the closing documents for accuracy, assuring receipt of all required closing documentation, compliance and satisfaction of all closing conditions and special covenants.  Is responsible for loan set-up including completion of boarding sheets, calculation of required escrows, reserves and prepaid interest. Preparation of general ledger debit and credit entries and initiating wire transfers.



Reviews loan approval documents, construction loan agreements and engineer’s plan & cost report to ensure proper loan administration.  Establishes individual loan spreadsheets with approved budgets, funding criteria, loan allocations and reallocations; review permitted release provisions with the loan documents.  Maintains loan spreadsheets on a regular basis reflecting each funding, principal pay down and release consideration payment; follow up for written inspection report and first lien certificate. Updates related monthly construction loan report(s).         


Reviews borrower’s monthly requisition for accuracy and compliance with approved loan and funding budgets with the Relationship Manger to coordinate the monthly advances with Borrower, inspecting engineer, and title company.



Coordinates and funds construction loan advances including participated and syndicated loans.  Preparation and monitoring of all general ledger entries.  Confirm monthly interest payments, insurance and tax payments are all current and in good standing.


Establishes required release consideration; issues partial release letters and payoff letters for the borrower, the borrower's attorney(s) and title company.  


Updates the Construction Loan Report to reflect any contracts of sales status                  


Responds to customer inquiries.  Assists the Relationship Manager with set-up of borrower operating accounts, money market, escrow accounts required for environmental clean up when needed.  Facilitates communications with local branch office, Relationship Manager Loan Operations and the borrower.


Performs other related duties as required.







       Extensive knowledge of Construction Loan closing and ability to apply such knowledge.

       Strong verbal, communicative and written skills.

       Ability to manage heavy workflow, resolve problems with modest supervision, attend to detail

       and perform arithmetic calculations.

       Proficient with software and systems programs, with emphasis on excel.


       Bachelor’s degree preferred


       Minimum 7 years' experience commensurate with job function



       Work is mainly performed in a normal office environment.  Noise levels are usually moderate.



       The hazards are mainly those present in a normal office setting.



  • Medical/Dental/Vision Insurance
  • Flexible Savings Account
  • 401(k)
  • Tuition Disbursement and Reimbursement
  • College Loan Pay Down Program and other great benefits



Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We understand, value, and appreciate the unique perspectives that a diverse workforce can contribute to our organization. We put the employee and the customer at the center of strategy because culture is a critical differentiator for why people choose to work here.


 Military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.


We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.

About Provident Bank

For more than 180 years, Provident Bank has served individuals, families, and businesses in our local communities with personal and business banking services.

Volunteering is a Way of Life

Our brand promise - “Commitment you can count on” - supports the investments we make in the community and donations made by our employees. It’s a promise also reflected in the volunteerism of our employees, who lend time and talent and countless hours to assist hundreds of organizations and thousands of people and animals each year.

Why do we love it?

  1. We get to volunteer in areas that are meaningful to the bank and impactful in the community.
  2. Through generous contributions, we have raised over $28,000 in 2018. No item or donation is too small; we find a home for it all.