Commercial Relationship Officer

3 months ago

Wakefield, United States Westerly CCU Full time
Receive $1,000 Sign-On Bonus
*Paid out after 90 days with a satisfactory review*
ESSENTIAL FUNCTIONS AND BASIC DUTIES
Assumes responsibility for the effective and professional completion of assigned commercial loan and deposit acquisition functions.
  1. Interviews, takes applications, and processes all necessary documentation on commercial loan Discusses loan alternatives, credit criteria, interest rates, and loan documentation in a professional and comprehensible manner. Works with the Credit Union's internal staff to also obtain deposit relationship and recommend other Credit Union's products and services to the member.
  2. Gathers data for historical and projected cash flow and assess business viability through interviews with business owner(s) and review of loan application, tax returns, income statements, bank statements, references and any other relevant data necessary to determine actual cash flow.
  3. Efficiently process complete application packages, including screening packages against product guidelines and required documents, entering and processing loans in system, and closing out applications within target time frames.
  4. Communicates with members to request or provide additional information while attempting to gain the commercial member's full relationship. Advise members of approval or denial.
  5. Processes and orders all needed items to close loan and board on system and ensure all loan conditions are met. Work with outside trade professions for appraisals, environmental, title and all supporting items needed to complete file prior to closing. Prepare, if necessary, loan documents and disbursements for the closing Attend closing, board loan and perform all post-closing procedures for loan to be reviewed and scanned.
  6. Form and maintain excellent working relationships with Credit Union branch administration and managers.
  7. Answer commercial-related inquiries regarding accounts, loans and other servicing issues. Assist in the opening of memberships accounts when necessary and demonstrate an understanding and knowledge of the commercial deposit products and other related commercial services offered.
  8. Develop referral networks and cross-sell products and services to meet the Credit Union's goals and objectives. Promote commercial relationship development through cold and referral calling, member inquiries and direct Analyze each lending and deposit situation for additional business and cross sell opportunities and /or communicate to other lending areas for follow up. Attend community events and participate in seminars for the commercial department.
  9. Reviews loan closing packages, prior to closing, to ensure the accuracy of the closing documents as outlined within the loan proposal and commitment letter.
  10. Assists the department with the collection of annual financial documentation as required within the specific loan's covenants.
Responsible for effectively fostering Commercial Member relationships.
  1. Monitors and evaluates work quality, efficiency, and productivity. Ensures that completed work is of the highest quality. Provides suggestions for improved service delivery and commercial portfolio management. Seeks new methods to accomplish departmental tasks.
  2. Tracks workflow. Ensures that deadlines are kept, and records and loan documentation are complete and accurate.
  3. Coordinates, schedules, and directs member follow-up activities.
  4. Ensures commercial members are kept aware of changes in policies, loan renewals, deposit account changes (ie, rates, fees).
  5. Utilizes departmental software technologies available to their fullest extent.
Assists in the responsibility for ensuring that professional commercial relations exist with members and business professionals.
  1. Represents the Credit Union in contacts with business professionals and borrowers.
  2. Ensures that requests, questions, and problems are courteously and professionally resolved.
  3. Ensures that borrowers are appropriately informed of Credit Union services, programs, and policies.
  4. Ensures that the Credit Union's professional reputation is maintained both internally and externally.
Assists in the responsibility for establishing and maintaining effective communication and coordination with Credit Union personnel and with management.
  1. Assists and serves branches and related departments as needed.
  2. Keeps the Vice President of Lending informed of area activities and of any significant problems.
  3. Attends and participates in meetings and committees as required.
Assumes responsibility for related duties as required or assigned.
  1. Stays abreast of changes in the commercial services
  2. Completes special projects as
  3. Ensures that work area is clean, secure, and well


EDUCATION/CERTIFICATION: College degree in business, finance, or a related field; or equivalent experience.

REQUIRED KNOWLEDGE: Thorough understanding of income property and construction lending.

Complete knowledge of commercial lending requirements, and documentation. Understanding of collections procedures and related legal actions.

Familiarity with property management.

Understanding of Real Estate Appraisal techniques (commercial) and title issues. Thorough understanding of loan documentation and closing.

Thorough understanding of traditional small business operations including taxes, accounts payable, accounts receivable, inventory, balance sheet, and income statements

EXPERIENCE REQUIRED: Minimum of five years of related lending experience.

Supervisory experience very helpful.

Experience handling problem loans and loan workouts. Experience with the foreclosure process and related litigation.

SKILLS/ABILITIES: Strong leadership and supervisory skills.

Excellent financial analysis abilities.

Solid communication and negotiation abilities. Strong public relations skills.

Able to use all related computer applications and business machines.

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