Commercial Loan Workout Officer restructures problem loans for commercial clients. Negotiates with lending personnel and commercial borrowers to better secure collateral and/or assets of the borrower. Being a Commercial Loan Workout Officer works with small to moderate size loans of little complexity. Typically requires a bachelor's degree. Additionally, Commercial Loan Workout Officer typically reports to a supervisor or manager. The Commercial Loan Workout Officer works on projects/matters of limited complexity in a support role. Work is closely managed. To be a Commercial Loan Workout Officer typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)
Title: Commercial Loan Officer
Reports To: Vice President Commercial Services
Role: Commercial Loan Officer will be responsible for originating and closing small to mid-size commercial loans. They will be responsible for independently developing new business, underwriting, structuring, and closing commercial loans, as well as maintaining and servicing a commercial loan portfolio. This individual will represent the credit union in its market areas through active participation in community affairs. Critical to this role is understanding the value of teamwork, the skills needed to assess the risk of commercial loans, and the ability to develop and maintain strong customer relationships.
Essential Functions and Responsibilities:
1. Actively serve as loan officer to originate, evaluate, process, obtain approval and close on business loans of various sizes and complexity across industries. Work on teams to prepare loan packages, including analyzing financial statements, assessing borrower’s management capacity, and determining key credit and risk drivers, and proposing strategies to mitigate them.
2. Actively participate in servicing and monitoring the loan portfolio, along with other members of the team, including conducting site visits, evaluating risk management reports, and working to resolve troubled loans if needed.
3. Build and maintain strong relationships with borrowers through origination, closing and post-closing. Work within the community to build awareness of Norstate FCU and its commercial program.
4. Ensure compliance with lending regulations and internal controls for accuracy, timeliness, and proper documentation.
5. Perform other duties assigned by supervisor.
Knowledge and skills:
Experience: 3 years of experience in lending, finance or community development, or equivalent related experience
Education: Bachelor’s degree in related field or equivalent related experience.
Job Type: Full-time
Pay: From $52,586.00 per year
Benefits:
Payment frequency:
Schedule:
Work setting:
Ability to Relocate:
Work Location: In person
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