Community Development Loan Officer oversees the bank's CRA Programs and policies to ensure compliance with federal Community Reinvestment Act banking regulations to meet the credit needs of the area's low to moderate-income populations. Serves as the subject matter expert of CRA laws, rules, and regulations by maintaining a deep and up-to-date knowledge of regulatory requirements, proposed legislation, and announcements. Being a Community Development Loan Officer reviews and analyzes lending activity data and practices to ensure compliance with CRA policies. Develops, implements, and administers the overall corporate CRA plan and localized or remedial plans with guidelines and standards to assist with compliance. Additionally, Community Development Loan Officer advises management and coordinates with legal staff on the potential impact of actions. Coordinates and delivers reports to bank leadership and regulatory agencies. Ensures the bank has a positive and visible role in community economic development activities, events, and initiatives. Requires a bachelor's degree or equivalent. Typically reports to a director. The Community Development Loan Officer work is generally independent and collaborative in nature. Contributes to moderately complex aspects of a project. To be a Community Development Loan Officer typically requires 4 -7 years of related experience. (Copyright 2024 Salary.com)
Role:
To originate, manage, and supervise the Credit Union's portfolio of commercial loans, with overall objective of
maintaining and increasing its asset quality; to develop new and existing business relationships.
Essential Functions & Responsibilities:
Takes applications for commercial loan business. Reviews member financial condition and
assesses the member's ability to re-pay the loan. Makes underwriting decisions within approval
authority. Completes or directs completion of all loan documents and closes loans.
Participates in developing lending and deposit business for the Credit Union. Calls on clients to
expand existing business; calls on prospects seeking opportunities to expand the Credit Union's
client base.
Monitors existing loan portfolio to maintain a high-quality asset base. Maintains up-to-date
member files including current balance sheets, profit & loss statements, cash flow projections
and all loan documentation.
Assists in collection of past due loans.
Assists members with any loan-related questions and concerns.
Performs other job related duties as assigned.
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