Member Business Loan Processor

Schedule

Full-time, 40 hours per week. Monday through Friday availability required. Evening and Saturday availability occasionally required.

Responsibilities

• Maintain loan/credit files in an orderly and professional manner (50%):
  • Update files with new or relevant information, including current balance sheets, profit and loss statements, cash flow projections, and all loan documentation.
  • Provide technical support, including data entry and scanning documents, to maintain data integrity within the loan servicing system.
  • Prepare and process all documentation related to Member Business credit transactions.
  • Complete all loan documents and close loans.
  • Prepare files for audit after loans are closed.
• Serve as primary liaison between the credit union and Member Business Lending (MBL) CUSO (25%):
  • Monitor all MBL processes, including participation loans and Small Business Administration (SBA) loans.
  • Coordinate and execute the annual review process, ensuring compliance with MBL policy.
• Monitor existing loan portfolio to maintain a high-quality asset base (15%):
  • Assist members with loan or relationship-related questions, concerns, payment issues, and obtaining annual financial information.
  • Assist with account collections as needed.
• Represent the credit union at various functions to develop and maintain business relationships (5%).
• Perform other job-related duties as assigned (5%).

Additional responsibilities include:

• Transmit documents and information to MBL CUSO as needed.
• Monitor participation loan payments and complete back-office tasks such as insurance verifications, government reporting, and loan reviews.
• Wire funds to appropriate entities for participation loans.
• Maintain frequent contact with CUSO and participating credit unions.
• Prepare loan documents, schedule appointments, and mail notices in compliance with federal and credit union laws, regulations, and policies.
• Assist in seeking new member business loan and deposit client opportunities and service existing accounts, including periodic loan reviews.
• Assist in the collection of commercial delinquencies as required.
• Support the VP Member Business Services with the administration of Business Deposit Accounts/Services, including creating and implementing new business products and managing portfolio performance.
• Work directly with vendors supporting member business lending account-related products and services (e.g., merchant card services, remote check capture, payroll services).
• Provide due diligence on vendors and products when required.
• Support credit union and MBL CUSO lenders with financial statement analysis, loan documentation, clerical tasks, and documentation collection.
• Assist with internal audits and examinations.
• Provide informed, prompt, professional, and accurate service to all members and associates.
• Maintain thorough knowledge of financial services offered by the credit union and competitors.
• Promote credit union products and services by identifying opportunities to meet the needs of members, select employer groups (SEGs), and member businesses.
• Maintain current knowledge of state and federal laws related to member business lending, including reporting requirements.
• Comply with lending regulations and policies, including Truth in Lending, Fair Lending, RESPA, HMDA, MLA, FCRA, SAFE Act, and Collections laws.
• Attend conferences, seminars, and workshops related to the job.
• Maintain eligibility and continuing education requirements for various license requirements.
• Travel periodically to visit potential and existing member business clients, branch locations, SEGs, and attend community or credit union meetings and events.
• Ensure full compliance with the credit union’s policies, procedures, internal controls, confidentiality standards, Bank Secrecy Act (BSA), USA PATRIOT Act, Anti-Money Laundering (AML) requirements, and all applicable regulatory and audit obligations.

Requirements

• One to three years of similar or related experience.
• Prior financial institution experience and familiarity with lending processes and regulations preferred.

Qualifications

• Education:
  • A two-year college degree in business, finance, economics, or a related field of study, or
  • Completion of a specialized certification or licensing, or
  • Completion of specialized training courses conducted by vendors, or
  • Job-specific skills acquired through an apprenticeship program.

Skills

• Interpersonal Skills: Work involves frequent personal contact with others inside and/or outside the organization for conflict resolution, relationship-building, and soliciting cooperation. Requires diplomacy, tact, and a high degree of confidentiality.
• Technical Skills:
  • Strong personal computer skills with the ability to learn new software.
  • Intermediate to advanced Microsoft Excel/Office skills.
  • Intermediate mathematical skills (calculations and concepts involving decimals, percentages, fractions, etc.).
• Communication Skills: Excellent verbal and written communication skills. Professional, well-developed interpersonal skills necessary for projecting and communicating a positive image.

Physical Requirements

Not specified in detail, but the role may involve standard office physical demands.