Commercial Loan Officer

2 months ago

Rochester, United States Summit Federal Credit Union Full time
Job DescriptionJob Description

Position Summary

The Commercial Loan Officer is responsible for developing new business, underwriting, structuring, reviewing, and closing of commercial loans as well as maintaining and servicing a commercial loan portfolio. The Commercial Loan Officer is responsible for originating business and commercial property loans by phone, on-line, in person, or from a team member referral. Business loans will be sourced primarily by engaging with prospective and current borrowers or brokers to originate these loans. This position collects, reviews, evaluates, and originates commercial loan requests and all supporting documentation, and is responsible for accurate and efficient completion of the loan application, using this process as an opportunity to cross sell other credit union loan and deposit products. The Commercial Loan Officer position reports to the Senior Vice President of Lending. This individual will effectively communicate with the member, the SVP of Lending, and The Summit’s third-party consultant, to ensure problem resolution and member satisfaction in a timely manner. This position establishes and preserves professional business relations with loan referral sources and performs all responsibilities in a manner that serves The Summit’s Mission and upholds the credit union’s values. This individual will represent the Credit Union in its market area through active participation in community affairs.

Essential Responsibilities - Must be capable of performing the following essential responsibilities, with or without reasonable accommodations, as outlined below.

  • Be the primary contact for all commercial related services provided by the credit union including the main contact for our third-party consultant.
  • Identify and develop relationships with community prospects, potential borrowers, developers, real estate professionals, brokers and others to solicit leads for commercial loans.
  • Pre-qualify members or potential members, interview the member to complete application, gather necessary documents, assemble loan file, issue preliminary disclosures with related fees, and prepare loan application for processing.
  • Evaluate credit data, financial statements, cash flow and collateral to determine credit quality of applicants. Educates members regarding credit products and services and how they can serve their needs. Communicates reasons for decline for applicants when their loan request is denied.
  • Conduct site visits to view and document condition of collateral.
  • Advise members of steps and normal timeframes in loan process, including but not limited to setting expectations for time critical events, rates, fees, APR, and other important elements of financing.
  • Cross sell additional credit union products and services that complement and enhance the member’s financial well-being.
  • Must successfully participate and pass all continuing education work as requested by The Summit and /or required by Regulatory agencies.
  • Must have, or obtain immediately upon hire, a current NMLS individual license and maintain current NMLS designation at all times while Commercial Loan Officer in market being served.
  • Assist loss mitigation team with collection efforts on past due loans.
  • Follow current loans and credit lines to ensure complete compliance with terms.
  • Call on potential or existing customers to develop new business and increase or retain existing business.
  • Participate as the primary staff liaison to the Business Loan Review Committee.

Other Responsibilities

  • Participate in special assignments, projects, and committees as requested by the SVP, Lending.
  • Provide a positive example to all areas in the credit union through their interactions with others.
  • Establish and maintain networking relationships throughout the community through involvement and participation in business, social, community, committees, Boards, or other activities.
  • Represents and promotes the credit union with the business communities.

*Note: The above information on this job has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

Qualifications and Skills

Education & Experience - Applicants must possess the following qualifications or an equivalent combination of education and experience:

  • Education: Associate’s degree in business, finance, or related field preferred.
  • Experience: 4-6 years of commercial lending/sales, underwriting experience and loan review. Knowledge of commercial lending required. Related experience with regulatory, compliance and due diligence requirements.

Knowledge/Skills/Abilities (including Technical & Systems/Equipment Proficiencies)

  • Ability to build a network of commercial real estate referral sources, generate sales leads, and produce loans on own initiative.
  • Ability and desire to make solicitation calls in person and on the phone.
  • Ability to analyze financial statements to determine liquidity, cash flow, debt-to-worth, trends, etc. Underwriting skills include ability to add context to credit memorandum, write analysis on repayment ability, liquidity, cash flow, trends, leverage, collateral, management, and credit.
  • Must have the ability to underwrite commercial loans as well as perform annual reviews as necessary.
  • Understanding of NCUA and credit union guidelines for commercial loans and good understanding of member business lending.
  • Ability to effectively present loans to business loan committee.
  • Self-motivated and independent with the ability to balance a demanding workload and meet critical deadlines.
  • Ability to work collaboratively and autonomously in a fast-paced environment.
  • Ability to assist in minimizing risk to credit union, maximize borrowing potential and maintain professional reputation of credit union.
  • Microsoft Office Suite, particularly: Outlook, Word, and Excel
  • Office equipment (i.e. calculators, computers, printers, copiers, multi-line phone systems and fax machines)
  • Intranet/Internet, navigation of web-based vendor systems, and utilization of teller & banking software

Physical Requirements

  • Lifting (5-10 pounds)
  • Standing/Sitting extended periods of time, while working in front of computer monitor
  • Typing / Data Entry
  • Professional Office Environment
  • Overhead Lighting

Training and Compliance Requirements

  • Subject to the compliance requirements of all related federal regulations, including but not limited to; the Bank Secrecy Act (BSA), Anti Money Laundering (AML), Information Security and Privacy policies and procedures. Employees complete annual BSA, AML, Information Security, Privacy and other job-related training requirements as established by the Summit and within deadlines.

Licensure Requirements

  • In compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act) and the statute’s regulations, applicants must be eligible to register as a Mortgage Loan Originator (MLO). Candidates being considered will be subject to a credit check and fingerprinting.

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