Senior Loan Closing Specialist, Commercial Banking

About Us

Live Oak Bank is a digital bank that serves small business owners across the country.  Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money.  At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.

How This Role Impacts Live Oak and its People 

The Senior Commercial Loan Closing Specialist is responsible for coordinating, reviewing, and finalizing the closing of complex commercial loan transactions. This position ensures all loan documentation is accurate, complete, and compliant with regulatory requirements, and the Bank’s internal policies. The role serves as a subject matter expert in loan closing and provides guidance to junior staff, while partnering with Lenders, Underwriters, Legal Counsel, and external vendors to ensure timely and accurate loan closings.  

What You’ll Do at Live Oak 

• Manage end-to-end closing process for a wide range of commercial loans, including acquisitions, refinance, construction loans (owner-occupied and investment properties), working capital facilities, equipment financing, term loans, line of credit, and asset-based lending

• Review credit approval packages, commitment letters, and legal documentation to confirm compliance with approved loan terms and conditions

• Coordinate with lenders, underwriters, legal counsel, title companies, insurance agents, and other third parties to gather and validate closing documentation

• Ensure compliance with regulatory requirements (KYC/CIP, OFAC, flood, UCC filings, Beneficial Ownership, etc.) and internal credit/operational policies

• Prepare, review and verify closing checklists, funding memos, and disbursement instructions

• Identify and resolve documentation, collateral, or compliance issues prior to funding

• Act as a point of escalation for junior closing staff; provide training, guidance, and quality review

• Partner with Loan Operations and Post Close Departments to ensure smooth boarding of loans post-closing

• Maintain accurate records in loan management systems and track status to support reporting requirements

• Demonstrate deep knowledge of commercial loan products, documentation, and compliance requirements

• Review documents and processes with precision and accuracy

• Build strong relationships and work effectively across functions and with external partners

• Identify issues proactively and recommend solutions

• Provide guidance, coaching, and quality review to junior team members

• Manage multiple, complex transactions under strict timelines

• Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC

Required Experience

• 3+ years of progressive experience in commercial loan closing, documentation, or commercial banking

• Strong knowledge of loan documentation, collateral requirements, and commercial lending products

• Proven record of managing complex, high-value loan transactions

• In-depth knowledge of commercial loan products and closing procedures

• Familiarity with legal documentation, including promissory notes, guarantees, security agreements, and mortgages/deeds of trust

• Understanding of regulatory and compliance requirements impacting commercial lending

• Excellent organizational skills with ability to manage multiple priorities under tight deadlines

• Strong communication, problem-solving, and relationship management skills

• High attention to detail and accuracy

• Proficiency in loan origination/servicing systems, document imaging, and Microsoft Office Suite

Preferred Experience 

• Bachelor’s degree in business, finance, accounting, or related field

• Experience with syndicated and participated loans

Our Values

• Dedication: Possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.

• Ownership: Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.

• Respect: Treat everyone with courtesy, politeness, and kindness.

• Innovation: Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.

• Teamwork: Foster collaboration, accountability, and trust with others and understand that together, we do more

For a detailed overview of our employee benefits please visit: http://www.liveoakbank.com/careers/

Live Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at [email protected].

EEO is the Law

Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.