Closing and Escrow Services Officer

Title:                                                   Closing and Escrow Services Officer

Employee Status:                        Full Time Exempt

Grant Funded:                     No

Salary:                            Salary Grade 2. This salary grade starts at $52,400

Reports to:                      Manager of Closing & Escrow Services

Matrix Reporting:                N/A

Department:                     Capital Solutions

Location:                        Chicago, IL

Department Function:         

Maintain a program of flexible loan products to organizations serving low-income communities; design programs to assist the target market in obtaining financing.

The Organization

IFF is a mission-driven lender, real estate consultant, and developer that helps communities thrive. Key to our success has been a deep sense of purpose, a broad perspective, and a relentless focus on achieving positive results. Across the Midwest we help clients from every sector, including human service agencies, health centers, schools, affordable housing developers, and healthy food grocery operators. Staff contribute extensive business experience and an unrivaled connection to the mission of IFF to the clients we serve.

IFF is looking for candidates with a commitment to the work we do who can demonstrate their creativity, diligence, enthusiasm, growth-mindset, thoughtfulness, and passion to make meaningful change in the areas of economic and racial justice.

Equity, Diversity, and Inclusion

Partnering to create thriving communities is at the heart of everything we do. We leverage knowledge, capital, and resources to advance equitable and transformational outcomes in under-resourced communities, guided by our commitment to be an inclusive, anti-racist and anti-oppressive institution that honors communities as asset-rich and as experts in their own stories.

Basic Job Function

The Closing and Escrow Services Officer coordinates and facilitates loan closings. Careful documentation and file retention is a critical function.

Job Duties and Responsibilities:

1. Coordinates all loan closings for Capital Solutions.
2. Interacts directly with customers on loan closing requirements and closing.
3. Develops closing checklists, collects required due diligence documentation.
4. Maintains and reviews loan-closing documents and relevant files.
5. Works with IFF attorneys and/or outside legal counsel in all aspects of loan document preparation and review of other items for closings.
6. Assists IFF’s Real Estate Services in reviewing and processing loan payout requests during construction or multiple loan advances (if requested).
7. Works with IFF attorneys to collect post-closing documents from title companies and outside attorneys and process collateral release documents.
8. Makes available progress and status of loan closings for IFF staff through regular updates on IFF systems and through communications.
9. Uses IFF systems including Microsoft Dynamics CRM, Microsoft Office, Microsoft Outlook, LoanWare in performing job duties and responsibilities.
10. Maintains required job knowledge and skills and core professional competencies. Attends and participates in required educational programs and staff meetings.
11. Performs other duties as assigned.

Performance Measures:

1. Timely completion of loan closing production to meet department goals.
2. Accurate and complete loan documentation in organized files during and after loan closings and for multiple loan advances.
3. Efficient use of time and ability to manage multiple tasks.
4. High level of customer satisfaction with respect to loan closings and loan disbursement.
5. Cultivates a culture of openness in information sharing. Encourages open communication, cooperation, and the sharing of knowledge.
6. Models personal accountability that promotes ownership and engagement.
7. Builds and maintains effective working relationships with colleagues, peers and team members.
8. Values and supports differences in others, contributing to an inclusive work environment. Demonstrates the ability and willingness to communicate effectively with people of diverse backgrounds and experiences to create a collaborative, collegial, and caring community.
9. High level of satisfaction with both internal colleagues and external contacts.

Position Qualifications:

Education: Bachelors’ or Associates’ Degree required in business administration or finance or a paralegal certification preferred.

Previous Experience: Minimum of three years experience in commercial loan closings and/or commercial loan operations with a financial institution and or title company.

Special Knowledge & Skills: Direct experience with commercial lending; excellent customer service and communication skills for one-on-one interaction with borrowers; ability to manage multiple projects; ability to learn and use a wide variety of computer software including word processing, database programs, spreadsheets, customer management, email and bank systems; detailed oriented with good communication (written and oral) and interpersonal skills.

Additional Requirements: Minimal regional travel may be required.

IFF does not offer relocation packages; must be authorized to work in the United States; IFF does not offer sponsorship.

Application Instructions: Please visit our Careers section of our website to apply online. Both a resume and cover letter are required.

IFF values equity, diversity, and inclusion as part of its mission to strengthen nonprofits and the communities they serve. IFF is an equal opportunity employer and is committed to building and maintaining a culturally diverse workplace that is free of discrimination and harassment of any kind. We encourage women, minorities, individuals with disabilities and veterans to apply. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, veteran status, or any other status protected by the laws or regulations in the locations where we operate.