Senior Commercial Lending Attorney

Job Description

First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5+ billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations.

The Senior Commercial Lending Attorney provides legal advice, drafts, and negotiates documents. In addition, this individual handles closings and other complex legal matters related to commercial lending, trade finance, letters of credit, retail loan documentation, and commercial collections. The Senior Commercial Lending Attorney reports to the Associate General Counsel & Commercial Managing Attorney and assists in managing the Commercial Legal team and supervising the Commercial Lending Attorney(s).

DUTIES & RESPONSIBILITES

• Act as a senior-level attorney on complex commercial legal matters related to commercial lending, trade finance, letters of credit, retail loan documentation, and commercial collections by leveraging industry awareness, knowledge of regulatory expectations, and legal expertise to close transactions in a timely matter while mitigating risk to the Bank. Must exercise refined judgement to mitigate risks associated with daily tasks.

• Conduct legal research and stay up to date on relevant laws, regulations, and industry trends. Assist the Associate General in adapting policies and procedures to satisfy regulatory requirements. Provide training and coaching for staff on changes to policies and procedures. Provide training for new credit analysts on legal issues related to commercial lending.

• Provide training and guidance to the Commercial Lending Attorney(s). Coach less experienced colleagues on procedures, guidelines, and legal matters.In coordination with the Associate General Counsel & Commercial Managing Attorney in overseeing the production of commercial loan documentation done internally. Generally, commercial loans from around $250,000 through $10,000,000 will be documented internally by the Commercial Legal Team.

• Read and understand loan write-up as approved by the appropriate loan committee.

• Advise commercial lenders on deal structure, particularly for complicated and unusual transactions, and necessary steps for lien perfection.

• Review and approve loan commitment letters sent to commercial borrowers, including long form commitment letters to be used for outside counsel transactions.

• Review search results with the lender, and if necessary, the borrower and its legal counsel.

• Oversee the production and workload of the legal staff to produce the necessary loan documents and make sure all terms are consistent with the loan write-up.

• Negotiate draft loan documents with borrower's legal counsel and resolve any disagreements or issues concerning the loan documents.Draft custom provisions for loan documents.

• Draft loan documents for complex and high dollar transactions.

• Update the department's forms and forms in the Laser Pro system as necessary.

• Assist in managing the Laser Pro loan documentation system and other computer systems used by the department.

• Coordinate the production of loan documentation produced by the Bank's outside attorneys. Generally, commercial loans in excess of $10,000,000 or with unique collateral or unique documentation will be documented by outside legal counsel. Some examples are large construction development loans, leveraged buyouts, industrial revenue bonds and out-of-state borrowers.

• Provide legal assistance to retail and small business departments. Commercial loans under $250,000 and all retail/consumer loans are documented and handled by different departments of the Bank. However, this individual will provide legal guidance if they encounter any unusual documentation issues.

• Assist the commercial lenders with their collection efforts. The individual may be asked to produce default letters and forbearance agreements as part of any collection effort. If a loan requires stronger legal collection efforts, such as filing complaints and foreclosures, this individual will work with outside counsel and oversee their collection and litigation efforts. This individual may represent the Bank and handle real estate sales and closings for Bank owned commercial real estate.

• Provide general legal assistance to the commercial loan department. As an attorney working in the commercial loan department, this individual will be expected to provide legal advice to the commercial lenders on a myriad of other subjects. This can include such topics as reviewing confidentiality agreements, reviewing and approving construction draws, advising the lender on how to handle changed circumstances of the borrower or covenant violations, or supervising the proper response for commercial subpoenas and discovery requests.

• Provide legal assistance to the Trade Finance Department. Review draft standby letters of credit. Provide oversight for the letter of credit documentation process.

• Review non-disclosure agreements.

• Negotiate deposit account control agreements.

• Draft and negotiate leases for Bank owned property and property leased by the Bank.

• Provide general legal advice to the Bank and its holding company on commercial and corporate matters.

• Understand the compliance and regulatory issues affecting the commercial lending area and assist with any issues, as assigned by the General Counsel, affecting the consumer lending area.

• Assist the General Counsel in legal matters, as assigned. Conduct and complete additional assignments/projects as designated by management.

Qualifications

• A Juris Doctorate or Master of Laws degree required from an accredited law school.

• This individual must be licensed to practice law in Illinois.

• Minimum of ten years general legal practice in a reputable law firm or corporate legal department.

• The individual should have some experience in commercial law, banking law, and/or real estate law or related litigation. Experience with real estate closings is desired.

• Initiative, superior organizational skills, proven multitasking ability, attention to detail, and an aptitude toward working independently are all vital traits for this position.

• Highly developed verbal and written communication skills are essential for this position.

• This individual will be reviewing and approving loan documents on a daily basis.

• A professional demeanor, polished communications skills, attention to detail, and a pro-active approach toward problem solving are required.

• This individual must be a self-starter with the ability to work under minimal supervision in a fast-paced environment.

• Proficiency with Microsoft 365 products and applications, including the ability to effectively prepare or review documents, procedures, and reports.

• Expertise and familiarity with the LaserPro loan documentation system would be a plus.

• Demonstrated ability to learn new systems and applications, as well as the ability to understand, adapt and adjust responsibilities/workflows as a result of system upgrades. In addition, the ability to learn other web based computer systems used by the Bank including Thompson Reuters Westlaw, Jack Henry Silverlake, and Synergy.

• The individual will be based in the commercial loan department at 1650 Louis Avenue, Elk Grove Village, IL 60007 or possibly at the Bank's Little Havana branch in Miami, FL.

• There will be occasional travel to different Bank locations, including in Miami, FL; Tampa, FL, Elk Grove Village, IL, Kenosha, WI; and Milwaukee, WI.

• This individual may occasionally be asked to attend outside conferences, training sessions, or meet with outside legal counsel.

• Typical schedule is Monday through Friday 8:00 a.m. to 5:00 p.m. Additional hours may be required depending upon business need, including some weekend or evening hours may occasionally be required depending upon work flow.

• Punctuality is required to maintain First American Bank's customer service standards.

Responsibilities First American Bank was founded in Chicago, and over the years has expanded throughout Wisconsin and Florida. As the largest privately held bank in Illinois, we now have over 60 locations and assets of $5+ billion. We are a community bank at heart with international expertise, traditional values, and a forward-looking philosophy. Our employees have the experience and vision to meet the needs of savers, borrowers, and businesses in the 21st century. First American Bank can offer employees a level of visibility, career growth, and stability that is difficult to find in many larger corporations. The Senior Commercial Lending Attorney provides legal advice, drafts, and negotiates documents. In addition, this individual handles closings and other complex legal matters related to commercial lending, trade finance, letters of credit, retail loan documentation, and commercial collections. The Senior Commercial Lending Attorney reports to the Associate General Counsel & Commercial Managing Attorney and assists in managing the Commercial Legal team and supervising the Commercial Lending Attorney(s). DUTIES & RESPONSIBILITES

• Act as a senior-level attorney on complex commercial legal matters related to commercial lending, trade finance, letters of credit, retail loan documentation, and commercial collections by leveraging industry awareness, knowledge of regulatory expectations, and legal expertise to close transactions in a timely matter while mitigating risk to the Bank. Must exercise refined judgement to mitigate risks associated with daily tasks.

• Conduct legal research and stay up to date on relevant laws, regulations, and industry trends. Assist the Associate General in adapting policies and procedures to satisfy regulatory requirements. Provide training and coaching for staff on changes to policies and procedures. Provide training for new credit analysts on legal issues related to commercial lending.

• Provide training and guidance to the Commercial Lending Attorney(s). Coach less experienced colleagues on procedures, guidelines, and legal matters. In coordination with the Associate General Counsel & Commercial Managing Attorney in overseeing the production of commercial loan documentation done internally. Generally, commercial loans from around $250,000 through $10,000,000 will be documented internally by the Commercial Legal Team.

• Read and understand loan write-up as approved by the appropriate loan committee.

• Advise commercial lenders on deal structure, particularly for complicated and unusual transactions, and necessary steps for lien perfection.

• Review and approve loan commitment letters sent to commercial borrowers, including long form commitment letters to be used for outside counsel transactions.

• Review search results with the lender, and if necessary, the borrower and its legal counsel.

• Oversee the production and workload of the legal staff to produce the necessary loan documents and make sure all terms are consistent with the loan write-up.

• Negotiate draft loan documents with borrower's legal counsel and resolve any disagreements or issues concerning the loan documents. Draft custom provisions for loan documents.

• Draft loan documents for complex and high dollar transactions.

• Update the department's forms and forms in the Laser Pro system as necessary.

• Assist in managing the Laser Pro loan documentation system and other computer systems used by the department.

• Coordinate the production of loan documentation produced by the Bank's outside attorneys. Generally, commercial loans in excess of $10,000,000 or with unique collateral or unique documentation will be documented by outside legal counsel. Some examples are large construction development loans, leveraged buyouts, industrial revenue bonds and out-of-state borrowers.

• Provide legal assistance to retail and small business departments. Commercial loans under $250,000 and all retail/consumer loans are documented and handled by different departments of the Bank. However, this individual will provide legal guidance if they encounter any unusual documentation issues.

• Assist the commercial lenders with their collection efforts. The individual may be asked to produce default letters and forbearance agreements as part of any collection effort. If a loan requires stronger legal collection efforts, such as filing complaints and foreclosures, this individual will work with outside counsel and oversee their collection and litigation efforts. This individual may represent the Bank and handle real estate sales and closings for Bank owned commercial real estate.

• Provide general legal assistance to the commercial loan department. As an attorney working in the commercial loan department, this individual will be expected to provide legal advice to the commercial lenders on a myriad of other subjects. This can include such topics as reviewing confidentiality agreements, reviewing and approving construction draws, advising the lender on how to handle changed circumstances of the borrower or covenant violations, or supervising the proper response for commercial subpoenas and discovery requests.

• Provide legal assistance to the Trade Finance Department. Review draft standby letters of credit. Provide oversight for the letter of credit documentation process.

• Review non-disclosure agreements.

• Negotiate deposit account control agreements.

• Draft and negotiate leases for Bank owned property and property leased by the Bank.

• Provide general legal advice to the Bank and its holding company on commercial and corporate matters.

• Understand the compliance and regulatory issues affecting the commercial lending area and assist with any issues, as assigned by the General Counsel, affecting the consumer lending area.

• Assist the General Counsel in legal matters, as assigned. Conduct and complete additional assignments/projects as designated by management. Qualifications

• A Juris Doctorate or Master of Laws degree required from an accredited law school.

• This individual must be licensed to practice law in Illinois.

• Minimum of ten years general legal practice in a reputable law firm or corporate legal department.

• The individual should have some experience in commercial law, banking law, and/or real estate law or related litigation. Experience with real estate closings is desired.

• Initiative, superior organizational skills, proven multitasking ability, attention to detail, and an aptitude toward working independently are all vital traits for this position.

• Highly developed verbal and written communication skills are essential for this position.

• This individual will be reviewing and approving loan documents on a daily basis.

• A professional demeanor, polished communications skills, attention to detail, and a pro-active approach toward problem solving are required.

• This individual must be a self-starter with the ability to work under minimal supervision in a fast-paced environment.

• Proficiency with Microsoft 365 products and applications, including the ability to effectively prepare or review documents, procedures, and reports.

• Expertise and familiarity with the LaserPro loan documentation system would be a plus.

• Demonstrated ability to learn new systems and applications, as well as the ability to understand, adapt and adjust responsibilities/workflows as a result of system upgrades. In addition, the ability to learn other web based computer systems used by the Bank including Thompson Reuters Westlaw, Jack Henry Silverlake, and Synergy.

• The individual will be based in the commercial loan department at 1650 Louis Avenue, Elk Grove Village, IL 60007 or possibly at the Bank's Little Havana branch in Miami, FL.

• There will be occasional travel to different Bank locations, including in Miami, FL; Tampa, FL, Elk Grove Village, IL, Kenosha, WI; and Milwaukee, WI.

• This individual may occasionally be asked to attend outside conferences, training sessions, or meet with outside legal counsel.

• Typical schedule is Monday through Friday 8:00 a.m. to 5:00 p.m. Additional hours may be required depending upon business need, including some weekend or evening hours may occasionally be required depending upon work flow.

• Punctuality is required to maintain First American Bank's customer service standards.