Commercial Loan Workout Officer jobs in Wilmington, DE

Description

The primary function of this position is to oversee the daily operations of the Commercial Loan Department to build and grow commercial loan business within DFCU’s market. Successfully manage and develop the commercial loan portfolio. Provide confidential, professional, comprehensive, and administrative support to the Chief Lending Officer. Interface with the executives, team members, visitors and vendors. Prepare reports, manuals, correspondence, and other communications utilizing a broad range of computer software and analytics. Provide supervision, training, evaluating, coaching and development of the Commercial Loan team.  

Requirements

• Oversee the entire Commercial Loan Administration process, including but not limited to applications, credit analysis, underwriting, approval, loan committee presentation, pre and post settlement diligence, such as credit reports, appraisals, environmental assessments, title searches, insurance, lien perfection (mortgage recording, UCC filings, liens on titles for vehicles), and accuracy of loan documentation. Assist with these processes when needed. Manage the construction loan process, approving draw schedules, inspections and draws.  Recommend commercial loan rates, participate in rate meetings and update rates and fees according to economic conditions while at the same time providing income and being competitive in the local market.
• Review and make decisions on business/commercial loans within lending authority as outlined in the MCL Policy 3300, as well as participate as a Loan Committee member.
• Hold Commercial Loan team accountable for their goals and performance. Meet with employees monthly and complete performance appraisal reviews. Coach and train team members to strengthen and improve services, create efficiencies and professional development.
• Recommend, prepare and set department goals and objectives and ensure goals are met including DEI/CDFI initiatives. 
• Prepare the annual budget with income from loan originations and expenses. Monitor and report on profit and loss for the department while adhering to approved budget.
• Maintain and update department policies, MCL Policy, SBA Policy and USDA Policy, and adhere to policy and NCUA regulations to maintain regulatory requirements, internal risk and operating procedures.
• Prepare monthly reports, including the Risk Rating Report, Watch Loan Report, Large Borrower Report, Policy Exception Report, and Delinquency Report and send to the Finance Department for the ALCO/Board Reports and attend monthly ALCO meetings
• Maintain successful business member relationships that maximize the sales and revenue of products and services from Credit Union operations.
• Collaborate with other lines of businesses within the Credit Union, such as Member Solutions, Marketing, Consumer Lending, Branches, Fraud, Compliance, Executive Team, Human Resources/Training, and IT, to achieve DFCU goals.
• Manage effective governance for maintaining due diligence records with third party vendors. 
• Perform specialized or confidential administrative duties, to include conducting research and preparing statistical and financial reports to assist the Chief Lending Officer in the development of a variety of plans and documents.
•  Learn, prepare and assist with the implementation of various systems that will be utilized by the Commercial Loan Department (i.e. documentation and underwriting, as well as other software programs/initiatives).
• Assist with External Members, Internal Members, Guests, Examiners, Auditors and Visitors.
• Participate in community and networking events to have a strong presence in the community and build business member relationships.
• Performs other duties and special projects as assigned.

  Job Specifications

• Requires education equivalent to a Bachelor’s degree.
• Prefer a minimum of ten years of experience in financial services industry. Corporate, industry training, or continuing education on the business market, small business target market, etc. desirable.
• At least 5 years prior lending or management experience required.
• Must possess a valid state driver’s license & insurance. Duties are performed in an office environment but also may require travel to other credit union facilities to provide assistance and/or attend meetings, training and networking events. Duties may also require travel to business meetings within the local community and out of the state.
• Professional, well-developed interpersonal skills essential to maintain courteousness, tactfulness, and diplomacy with the Commercial Loan team, Board of Directors, members, management, a diverse group of callers, visitors, and vendors.
• Knowledge of member business services required (i.e. business loans, deposits, and other services offered by the Credit Union.)
• Ability to operate standard office equipment such as a copier, computer and calculator.
• Present a positive and professional image through courteous and effective verbal and written communications skills.
• Strong organizational ability, versatility, time management, with ability to multi-task, and make decisions independently.
• Work requires proficient computer skills (MSWord, Excel, PowerPoint, Microsoft Outlook, Sageworks and LaserPro software) and the ability to learn new software applications.
• The ability to have considerable discretion and judgment when working with confidential and sensitive information.
• Intermediate mathematical skills required (calculations and concepts involving decimals, percentages, fractions, etc.)

Physical Requirements

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is frequently required to sit, use hands to finger, handle or feel, reach with hands and arms, and talk or hear. The employee is occasionally required to stand, walk, bend, kneel, and reach above or at shoulder level. The employee must occasionally lift/push/pull and/or carries up to 10 pounds.