Commercial Loan Officer

Description

The Commercial Loan Officer will interview business loan applicants, and explain the different loan products and loan enhancement programs available and their requirements. The Commercial Loan Officer will obtain the pertinent financial information necessary to underwrite the request, and conduct a preliminary analysis to determine if the application meets established minimum criteria. Responsible for coordinating with the processors and analysts for further processing and underwriting of the loan request.

The Commercial Loan Officer is responsible for providing a written and verbal loan recommendation to the Business Loan Committee. The Commercial Loan Officer is responsible for the overall management of their business loan portfolio, the dollar amount of which increases with the level of experience and responsibility. The Commercial Loan Officer is ultimately responsible for facilitating the applicant's loan request throughout the various stages of the process: interview, inspection, decision, due diligence, and closing.

The Commercial Loan Officer is expected to continue to enhance the relationship with the business members throughout the life of the loan, and for cultivating new loan opportunities.

This position is able to work hybrid at our Auburn Hills Regional Office with occasional visits to Congress Street/Downtown Detroit. Typically working 1-2 days onsite and the remainder of the week remotely.

Monday - Friday 8:30am-5:00pm ET. Attending evening/weekend business development events is required.

• 100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums
• Up to 26 days of PTO within your first year, as well as Volunteer Time Off & 11 Paid Holidays
• 401(k) with a company match
• Tuition Reimbursement
• Up to 12 Weeks of Paid Parental Leave
• Learn more about our benefits here

• Manage a loan portfolio consisting of a diverse base of business members. Grow the portfolio through a Business Development Plan that will include calling on:
  • Current Members in person and phone conversations of your assigned portfolio based upon member relationship in proportion to the portfolio;
  • Prospects by obtaining new business or referrals;
  • Actively engaging in community activities;
  • Actively participating in trade shows and other networking events
• Maintaining knowledge of industry trends, products, and technology to broaden new business opportunities
• Monitor loan portfolio, to include maintaining current financial statements, adherence to loan covenants/terms, minimizing past due accounts and reporting to senior management potential issues on a proactive basis ensuring all loans are in compliance and properly documented
• Interviews members for business loans at their place of business or by telephone. Answers member's questions pertaining to their loan during entire process. Work with member to resolve problems and questions relating to their loan application and financial information.
• Makes personal visits and inspections to properties provided for collateral
• Negotiates and executes on loan proposals
• Works with the business services team to oversee the ordering of appraisals, title searches, surveys, credit reports and arrangements for inspections, UCC filings, etc. Evaluates all information gathered and ensures that the underwriting of the loan has begun.
• Works with Business Credit Analyst to oversee the analysis of loan. Provides additional detail about the borrower and evaluates final written loan presentation.
• Ensure that sound analysis, lending procedures, and loan conditions and covenants are utilized. Act in compliance with the credit union's Business Lending policy at all times.
• Ensure that written correspondence with applicant, whether in the form of a commitment letter, proposal or term sheet is in agreement with signed loan approval, and does not expose the Credit Union to additional liability. Correspondence must be reviewed with a more senior lender
• Attends Business Loan Committee meeting, presents loans for approval, and provides recommendations
• Approves loans within established lending authority, presents loans exceeding authority to management
• Provides input and recommendations for lending interest rates to the Business Services Manager and Loan Committee
• Coordinate collection efforts with the Adjustment department for delinquent business loans
• Cross-sell other credit union products, as appropriate
• Attends seminars and/or classes necessary to keep current on regulations and trends affecting economy or specific business sectors
• Assist in the monitoring the loan operations reception Answers general questions relating to the services offered.
• Participate in training activities within the department/branches/human resources, as well as training outside the department; such training helps to ensure staff compliance with Credit Union policies and state and federal regulations and laws
• Perform other…