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Banking Paralegal Job Description

Paralegals also known as Legal Assistants assist the lawyers with their busy workload. Although the ultimate legal responsibility remains with the lawyers, paralegals continue to assume growing range of tasks. Nevertheless they are still prevented from handling certain specific legal duties like settling legal fees, giving legal advice, and presenting cases in the court on behalf of the clients. Paralegals basically perform preparatory work which may include preparing for hearings, closings, trials, and corporate meetings. They are also involved with the investigation of the facts of the cases as well as all the other relevant information. Various additional tasks may be delegated, depending on the type of the employer as well as the practice areas. Paralegals may work in the areas corporate, insurance, tax, banking, etc. These paralegals often work under the supervision of legal departments. Banking industry is heavily regulated, with audits and compliance reports required by state and federal agencies. Duties of the Banking Paralegals may involve gathering and organising data for periodic reports, keeping a continuous track of regulatory changes, and providing training for employees who must address regulatory issues. There are basically two departments where these paralegals can be employed and they are trusts and mortgage. In trusts department, paralegals may be asked to ensure compliance with court ordered reporting and other administration requirements of the trust. Might also be involved in the process of calculating distributions from the trust. Whereas in the mortgage department, paralegals work to comply with the mortgage lending and foreclosure requirements. Might inspect title documents and opinions to assure that the mortgage lenders acquires priority over there lenders, prepares necessary promissory note and other loan documents, and ensures the necessary filing of documents with the county recorder. In the event of foreclosure, a paralegal may handle the assembling of the records needed to demonstrate the failure of payment, preparing the required notices and complaints for the court, arranging the sheriff’s sale, and providing the required documentation of the sale to the court.

Here are a few sample banking paralegal job descriptions:

Banking and Finance Paralegal

The candidate will be responsible for Paralegal duties in the Banking and Finance section of a prestigious major, downtown law firm. Must have Four year degree and or a Paralegal Certificate. Should have 5+ years of experience as a Banking/Finance Paralegal. Should have experience working with transactional documents including purchase and sale agreements, joint venture agreements, credit agreements, and associated ancillary documents. Also must be able to facilitate and coordinate in the transactional closing process from the initial filing to closing.

Paralegal - Finance and Banking

The candidate will be involved in banking and transaction work including handling uniform commercial code filings, loan documents, stock transfers, board minutes, and general corporate matters. Will also assist with loan transactions, mortgages and lien related filings, corporate transactions which includes formation, venture capital investments, and mergers and acquisitions.

A college degree is preferred and a paralegal certificate is desirable. 2+years of finance, banking, and transactional experience is required. Candidate should be proficient with UCC searches, Word and Excel, and have the ability to work independently in a fast paced environment. Candidates will need to meet a 1500 hour billable requirement.

Corporate Paralegal - Banking

The candidate will be preparing and interpreting legal documents for review, approval, and use by attorneys. Will organize and prepare legal files. Conduct legal research and analysis using various law sources. Select, compile and use technical information from various reference sources. Perform administrative legal duties as required.

 The candidate should have 4 year degree or related experience. Must have 1+ year bank debt trade/distressed debt trading paralegal experience. LMA experience preferred; LSTA experience a plus. Courses in paralegal studies a plus. Excellent organizational and communication skills required.

Paralegal I - Mortgage Banking Litigation

Duties: Will be responsible for assisting attorneys with a high volume of cases. Will update litigation matters in the Litigation matter management system as needed. Assist attorney with check requests. Review cases before it is closed and facilitate closing with the data quality team. Upload key pleadings, briefs and orders to the litigation matter management system. Monitor completion of fields that require attorney input. Prepare and review case checklists.

Qualification Requirements: College degree preferred, paralegal certificate a plus. 1-3 years of paralegal experience including preparing legal documents. Should be able to review pleadings and other documents, communicate effectively with legal and non-legal staff, filter reports for distribution and work on assigned special projects. Experience in legal research, summarizing documents and analysis of data. Strong PC skills (proficient knowledge of MS Word, Outlook, Excel, PowerPoint, and Westlaw). Ability to monitor own workload to meet work goals. Should be an analytical thinker. Ability to work under tight deadlines and handle several projects simultaneously.

Business Banking Paralegal

The candidate will be responsible for providing transactional and other legal support to Business Banking lawyers, including preparation of draft real estate loan documents, letters to customers, and internal communications and presentations; researching regulatory issues and monitoring state law developments in connection with Business Banking transactional matters; assisting with the review and response to issues with respect to deposit accounts and cash management products; reviewing and responding to customer complaints; maintaining and updating forms; partnering with lawyers in Business Banking and other lines of business to support large scale projects and initiatives

The candidate should have 4-year undergraduate degree (preferred); 2-year associates degree (required); experience in a law firm or in-house legal department; be detail oriented and organized; able to handle multiple assignments and competing priorities in a fast paced, high profile and rapidly evolving environment; excellent interpersonal and oral and written communication skills; ability to work independently when interacting with larger groups on projects; professional attitude and ability to exercise judgment and adhere to policy guidelines; proficiency with PowerPoint, Excel and/or Adobe Pro would be a plus; have knowledge of credit, deposit account and product documentation and/or federal laws and regulations pertaining to banks would be a plus

Banking/Real Estate Paralegal

Responsibilities: Will provide overall support to attorneys' business needs. Will assist with closings, closing schedules and represent the lender at closing proceedings. Will handle due diligence gathering; review of board meeting minutes/notes; review offering plans for banks; prepare closing statements; review title reports/lien searches; execute/conduct closings on behalf of the lender; and preparation of banking documents.

Qualification Requirements: The candidate should have previous experience as a paralegal. Familiarity with legal research/Banking files including UCC/TRID/ HUD1s. Aability to travel within the to conduct closings.

Banking Paralegal Job

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