Commercial Loan Officer

About the role

The Commercial Loan Officer is responsible for sourcing, originating, and managing loans for commercial real estate and small businesses. This role emphasizes building and maintaining strong relationships with members, prospective borrowers, and key referral partners to expand the credit union's commercial lending portfolio.

Responsibilities

• Solicit leads for commercial real estate loans by networking within the local business community and participating in community events.
• 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.
• Aid borrowers with completing loan applications and submitting documents through the Online Application Portal.
• Enter new commercial loan borrower leads, loan application data, and documents into loan origination system for processing.
• Assist in loan closing activities such as preparation of loan documents, coordinating title company closings, etc.
• Evaluate credit data, financial statements, cash flow and collateral to determine credit quality of applicants.
• Educate members regarding credit products and services and how they can serve their needs.
• Communicate 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.
• Participate in loss mitigation efforts as needed.
• Mentor and assist novice commercial loan officers in building commercial loan program at Chartway.
• Build relationships with, advise, and educate retail team members and others on Commercial Real Estate products and advise on how to properly refer members for Commercial Loans.

Requirements

• Minimum 3 years commercial lending sales experience.
• Associate’s degree in business, finance or related field, or equivalent experience.
• Current NMLS individual license and maintain current NMLS designation at all times while Commercial Loan Officer.
• Ability to analyze financial statements to determine liquidity, cash flow, debt-to-worth, trends, and etc.
• Underwriting skills to include ability to add context to credit memorandum, write analysis on repayment ability, liquidity, cash flow, trends, leverage, collateral, management, and credit.
• Understanding of NCUA and credit union guidelines for commercial loans and good understanding of member business lending.
• Presentation skills to present loans to business loan committee.
• 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.

Qualifications

• Must have, or obtain within 60 days of employment, a current NMLS individual license and maintain current NMLS designation at all times while Commercial Loan Officer.
• Good credit history is required for consideration.

Skills

• Ability and desire to make solicitation calls in person and on the phone.
• Ability to build a network of commercial real estate referral sources, generate sales leads and produce loans on own initiative.
• Ability to analyze financial statements to determine liquidity, cash flow, debt-to-worth, trends, and etc.
• Underwriting skills to include ability to add context to credit memorandum, write analysis on repayment ability, liquidity, cash flow, trends, leverage, collateral, management, and credit.
• Understanding of NCUA and credit union guidelines for commercial loans and good understanding of member business lending.
• Presentation skills to present loans to business loan committee.
• 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.

Benefits

Chartway offers a competitive salary and a comprehensive benefits package.

Pay

Compensation Base Salary Range: $110,000 – $140,000 ($4,230.76 - $5,384.61 bi-weekly)

Schedule

Full-time