Financial Assistant (Corporate) provides assistance to the Corporate Financial Associates. Collects data, prepares business reports, proposals, and presentations. Being a Financial Assistant (Corporate) coordinates meetings and other communications between associates and others involved in deals. Uses database, spreadsheet and other software to collect and manage data. Additionally, Financial Assistant (Corporate) may require a bachelor's degree. Typically reports to a supervisor or manager. The Financial Assistant (Corporate) works under moderate supervision. Gaining or has attained full proficiency in a specific area of discipline. To be a Financial Assistant (Corporate) typically requires 1-3 years of related experience. (Copyright 2024 Salary.com)
POSITION SUMMARY
Provides full administrative support to Commercial Banking Officers (CBO) and serves as a liaison between the CBO and member to maintain and build the member relationship. Maintains commercial loan, deposit, and services files according to Magnifi Financial policies, procedures, and state and federal regulations.
ESSENTIAL DUTIES AND RESPONSIBILITIES
• Provides assistance to commercial members in all areas of the member relationship with Magnifi Financial including loans, deposits, and other services.
• Effectively communicates to the commercial member, CBO and support staff teams on loan, deposit, and services status/updates.
• Assists with maintaining CBO deposit, loan, and services portfolios.
• Maintains existing member agricultural/commercial lending files by reviewing files and monitoring lending reports and ticklers to assure that proper documentation is included and up to date.
• Assists with preparation of new loan requests and extensions as required.
• Orders/receives title work, flood determination, environmental risk assessment, and insurance.
• Requests and reviews loan documents.
• Assists with covenant monitoring and notifies lenders of violations.
• Prepares proposal/commitment letters and adverse actions.
• Perfects liens via recording mortgages and fixture filings and filing for lien holder status on titles.
• Requests disbursements/loan advances, subordinations, partial releases, satisfactions, and fee reversals.
• Keeps abreast of rules, regulations and Credit Union policy relating to member commercial loans.
• Works with CBO to monitor construction loan process, including following procedures to disburse funds to appropriate parties, collecting lien waivers, and taking pictures of construction projects as requested.
• Verifies business inventories and floor plans as requested by CBO.
• Uses the sales process to identify and recommend Magnifi Financial products and services to members based on financial need. Makes referrals to appropriate departments.
• Assists with Small Business Administration (SBA) and Government Guarantee loans.
• Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial.
EDUCATION AND EXPERIENCE
• Two-year degree in a business-related field plus two years’ experience in commercial banking; or equivalent knowledge and skills gained through a minimum of four years related work experience.
The Benefits
We are committed to investing in our team! Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):
Who We Are:
At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere. Magnifi Financial has received the special recognition of being named a Top 200 Workplace, voted on by our employees, for the 9th year in a row. As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth.
Magnifi Financial has grown to more than 90,000 members, over $2 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.
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