Commercial Legal Documentation Administrator

Remote Tukwila, WA

As the nation's largest community credit union, we begin every day focused on delivering superior financial products and services for our 1.3 million members and more than $30 billion in managed assets. Our work has an economic impact as we support our members' financial goals. We are unapologetic about being devoted to our members and the communities we serve. Our business is guided by our people helping people philosophy – which includes our team members.

BECU has been in business for more than 85 years, driven by unwavering core values and a dedication to improving the communities we serve. While we have a rich history, the future of our company, accelerated by business and technology transformation, is even brighter. There's never been a better time to work for BECU.

PAY RANGE

The Target Pay Range for this position is $97,900-$119,600 annually. The full Pay Range is $76,100-$141,500 annually. At BECU, compensation decisions are determined using factors such as relevant job-related skills, experience, and education or training. Should an offer for employment be made, we will consider individual qualifications. In addition to your salary, compensation incentives are available for the hired applicant. Incentives are performance based and targets vary by role.

BENEFITS

Employees and their eligible family members have access to a wide array of employee benefits, such as medical, dental, vision and life insurance coverage. Employees have access to disability and AD&D insurance. We also offer health care and dependent care flexible spending accounts, as well as health savings accounts, to eligible employees. Employees are able to enroll in our company’s 401k plan and employer-funded retirement plan. Newly hired employees accrue 6.16 hours of paid time off (PTO) on a per pay period basis based on hours worked (up to a maximum of 160 PTO hours per year) and receive ten paid holidays throughout the calendar year. Additional details regarding BECU Benefits can be found here.

SUMMARY

The Commercial Legal Documentation Administrator oversees all technical legal related questions and issues on all commercial loan segments including Commercial Real Estate, C&I, Construction, CRE Rehab, SBA, Affordable Housing and Non-Profit lending. This position will also oversee and facilitate the closing of all higher risk, more complex, larger dollar amount loans, ensuring proper legal preparation and negotiation of necessary documents, confirming satisfaction of all loan closing conditions and coordination and approval of release of loan proceeds at closing. This role reports to the VP of Business Lending and Portfolio Management and works closely and in conjunction with Business Services Relationship Managers, Underwriters, Director of Underwriting, Credit Risk Officers, and both internal and external Legal Counsel to ensure all regulatory and reporting requirements are appropriately documented protecting the organization on highly complex transactions. This role will work closely and serve as a direct contact with, BECU Legal Counsel as well as outside Legal Counsel. This role will also be responsible for research, development, rollout and maintenance of the operational and legal structures for new loan programs and outer market expansions.

RESPONSIBILITIES

Performs all responsibilities in accordance with BECU Competencies, compliance, regulatory and Information Protection requirements.
Establishes legal parameters for requested alterations to BECU’s standard commercial loan language.
Creates and maintains internal standardized legal language tool utilized by underwriting and loan documentation teams for convenient reference and efficiency.
Determines when and how BECU’s standard loan documents need to be adjusted based on legal changes that have been accepted to the Business Services Documentation Team.
Facilitates and coordinates the creation of new/additional standard loan documentation forms with guidance and oversight from inside and outside counsel.
Manages outside legal counsel’s involvement in large dollar, complex or outer market loan requests, including all communications and process management of credits between the business unit and external legal representation.
Reviews for accuracy all outside legally prepared loan documents and works with the Business Loan Documentation team to ensure the loan is properly boarded in BECU’s core system.
Reviews all commercial leases to determine if there is language in the leases that exposes BECU to undue risk. Manages potential risk by responding and negotiating with external parties.
Reviews contracts to assess requested changes to standard SNDA language, negotiating potential changes directly with borrower.
Oversees legality and understands the complexity of loan programs including Affordable Housing, Non-Profit Lending, Construction and new specialty segments. Ensures proper legal and operational compliance, coordinating across business lines and with the VP of Business Lending and Portfolio Management to ensure legal and operational set up are efficient and appropriate.
Addresses, answers or resolves all technical legal related questions escalated from loan documentation and underwriting teams.
May perform backup business support duties on behalf of Sr Manager Business Services Operations during his/her absence including addressing and/or resolving workflow, loan documentation, closing, funding, team escalation support and related issues.
May perform backup business support duties on behalf of Manager of Compliance Administration during his/her absence including compliance related questions, audit preparation, team escalation support and related issues.
Manages test updates of BECU’s business loan documentation platform.
Sets up and tests new loan products on BECU’s business loan documentation platform.
Provides new loan product document training to Sr. Manager, Business Services Operations, Loan Documentation Specialist and Loan Quality Specialist (QA) teams at new product launch.
Facilitates and sometimes will be the provider of best practices training on subject matters as they relate to underwriting, loan documentation and/or closing processes including refresher courses i.e., trusts, title, leases and SNDAs, etc.
Has familiarity with Non-Profit and Affordable Housing lending and compliance programs to ensure loan documentation provides appropriate level of protection to BECU and our membership.
Reviews and maintains managerial reports regarding approved loan documentation changes that should be monitored by legal, credit risk and the business unit.
To assist with expanding markets periodic travel may be required.
Complete and document ongoing regulatory, legal and loan training which may include training outside of BECU.

QUALIFICATIONS

Bachelor’s degree in business, finance, law or related field or equivalent work or educational experience required.
Minimum seven years of combined experience with commercial loan legal work and complex business loan documentation processing required.
Strong familiarity with non-profit, Affordable Housing and Construction - loan products, services, documentation and compliance requirements required.
Strong familiarity with SBA loan documentation, closing, funding and post-closing servicing requirements ensuring compliance with regulatory, BECU and SBA SOP rules and regulations preferred.
Minimum five years of beginning-to-end loan origination experience (from application thru post-closing servicing) working with Construction, CRE, CRE Rehab and Asset Based C&I loan documentation required.
Ability to accurately decipher and understand complex entity structures including Trusts, LLCs, Partnerships and Corporations (both for-profit and non-profit).
Strong foundational knowledge and understanding of title insurance including application of applicable endorsements when required/appropriate.
Strong foundational knowledge and understanding of UCC Article 9 rules as they relate to commercial loan documentation and perfection of security interests.
Strong foundational knowledge of banking regulations specifically related to commercial lending including, but not limited to, Reg B, HMDA and Flood.
Familiarity with loan documentation software and core system platforms. LaserPro, DNA and MeridianLink (ACTion) systems knowledge strongly preferred.
Strong Knowledge of credit policies, procedures, practices and documentation.
Proficient verbal and written skills required to effectively communicate.
Proficient analytical and project management skills and initiative to problem solve.
Full-time hours required, with additional hours as necessary.
Occasional travel required.

EEO Statement:

BECU is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, veteran status, disability, sexual orientation, gender identity, or any other protected status.