MSU (Michigan State University) Federal Credit Union
Commercial Loan Officer
MSU (Michigan State University) Federal Credit Union, Detroit, Michigan, United States, 48228
3220 University Dr.
Auburn Hills, MI 48326, USA
243 W. Congress St.
Detroit, MI 48226, USA
The Commercial Loan Officer will interview business loan applicants, explain the different loan products and loan enhancement programs available and their requirements. The Commercial Loan Officer will obtain the pertinent financial information necessary to underwrite the request, conduct a preliminary analysis to determine if the application meets established minimum criteria, coordinate with processors and analysts for further processing and underwriting of the loan request, provide a written and verbal loan recommendation to the Business Loan Committee, manage the overall business loan portfolio, facilitate the applicant’s loan request throughout the process stages, and enhance the relationship with the business members and cultivate new loan opportunities.
Work Arrangement
Hybrid at Auburn Hills Regional Office with occasional visits to Congress Street/Downtown Detroit; 1-2 days onsite, remainder remote. Benefits
100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums Up to 26 days of PTO within first year, Volunteer Time Off & 11 Paid Holidays Loan Portfolio Management
Grow portfolio through a Business Development Plan, calling on:
Current Members in person and phone conversations based on member relationship in proportion to the portfolio Prospects by obtaining new business or referrals Actively engaging in community activities Actively participating in trade shows and other networking events
Maintain knowledge of industry trends, products, and technology to broaden new business opportunities Monitor loan portfolio, maintain current financial statements, adhere to loan covenants/terms, minimize past due accounts and report to senior management potential issues proactively ensuring all loans are in compliance and properly documented Responsibilities
Interview members for business loans at their place of business or by telephone, answer member questions, work with member to resolve problems and questions relating to their loan application and financial information. Makes personal visits and inspections to properties for collateral. Negotiates and executes on loan proposals. Works with the business services team to oversee ordering of appraisals, title searches, surveys, credit reports and arrangements for inspections, UCC filings, etc.; evaluates all information gathered and ensures underwriting has begun. Works with Business Credit Analyst to oversee the analysis of loan, provides additional detail about the borrower and evaluates final written loan presentation. Ensure sound analysis, lending procedures, and loan conditions and covenants are utilized, comply with credit union’s Business Lending policy. Ensure written correspondence with applicant (commitment letter, proposal or term sheet) is in agreement with signed loan approval, does not expose credit union to additional liability; correspondence must be reviewed with a more senior lender. Attends Business Loan Committee meeting, presents loans for approval, and provides recommendations. Approves loans within established lending authority, presents loans exceeding authority to management. Provides input and recommendations for lending interest rates to the Business Services Manager and Loan Committee. Coordinate collection efforts with the Adjustment department for delinquent business loans. Cross-sell other credit union products, as appropriate. Attends seminars and/or classes necessary to keep current on regulations and trends affecting economy or specific business sectors. Assist in monitoring the loan operations reception, answers general questions relating to the services offered. Participate in training activities within the department/branches/human resources, as well as training outside the department; such training helps to ensure staff compliance with Credit Union policies and state and federal regulations and laws. Perform other duties and assist other employees as assigned. Level I Duties and Responsibilities
Assists with annual loan policy review and provides input and recommendations for change. Assists with updating the Business Loan Underwriting Manual. Review of loan commitment letters, proposals, and term sheets drafted by Commercial Loan Officer I. Provide support in maintaining business relationships including but not limited to builders, doctors, lawyers, accountants, dentists, key business owners, and real estate vendors to maintain community awareness of Credit Union products and services. Manages complex negotiations to resolve issues. Assist with managing delinquent or non-performing loans. Senior Commercial Loan Officer Duties and Responsibilities
All of Level I and II duties and responsibilities. Develop and maintain an active referral network for identifying potential new business. Assists in the training and development of Commercial Loan Officer I and II. Assists in the development of business loan products and services that best serve the Credit Union and its members. Provides input and recommendations for lending interest rates to the Business Services Manager and Loan Committee. Provides periodic reporting to the Business Services Manager in regards to state of the economy and opportunities in specific industries to target for the promotion of business service products. Provides input to Business Services Manager regarding the performance and technical knowledge of Commercial Loan Officer I and II. Ensures that Business Lending policies, procedures, and practices are in conformity with industry standards and regulatory policies. Works with the Senior Business Credit Analyst to ensure that the business loan pipeline service standards are met, including that loan decisions are generally made within a 3 business-week period. Qualifications
High School Diploma or equivalent required. Combination of Bachelor’s Degree in business, finance, or sales related field and/or at least four years of financial institution experience. Minimum two years as a Small Business Lender or commercial lending experience preferred. Minimum two years of progressively more responsible experience in numerous business lending functions. Minimum two years of commercial underwriting experience/knowledge. Analytical ability to conduct an analysis of an applicant’s credit status. Thorough knowledge of state and federal lending laws (Truth-in‑Lending, Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, Rights to Financial Privacy Act, Bank Secrecy Act, Money Laundering Control Amendment Act). Excellent member service and interpersonal skills. Must have excellent written and verbal (face‑to‑face and phone) communication skills including professional grammar and demeanor. Strong organizational skills with attention to detail. Ability to manage multiple tasks and member requests effectively with minimal supervision. Physical Demands and Work Environment
May be required to remain in a stationary position for an extended period of time. Ability to operate standard office technology, equipment and tools, which may include many hours of computer and phone usage. Occasionally needs to move about inside of office area. Exposure to potentially hazardous condition, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure. This position is able to work in hybrid or onsite working arrangements. Disclaimer
Please note this job description is not intended to be construed as an exhaustive list of all functions, responsibilities, skills, and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate. This document does not represent a contract of employment, and MSU Federal Credit Union reserves the right to change this position description and/or assign tasks for the employee to perform, as MSUFCU may deem appropriate. MSUFCU is an affirmative-action, equal-opportunity employer. To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform essential job functions. Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
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Hybrid at Auburn Hills Regional Office with occasional visits to Congress Street/Downtown Detroit; 1-2 days onsite, remainder remote. Benefits
100% Company-Paid Health, Dental, Vision, Life, and Long-Term Disability Premiums Up to 26 days of PTO within first year, Volunteer Time Off & 11 Paid Holidays Loan Portfolio Management
Grow portfolio through a Business Development Plan, calling on:
Current Members in person and phone conversations based on member relationship in proportion to the portfolio Prospects by obtaining new business or referrals Actively engaging in community activities Actively participating in trade shows and other networking events
Maintain knowledge of industry trends, products, and technology to broaden new business opportunities Monitor loan portfolio, maintain current financial statements, adhere to loan covenants/terms, minimize past due accounts and report to senior management potential issues proactively ensuring all loans are in compliance and properly documented Responsibilities
Interview members for business loans at their place of business or by telephone, answer member questions, work with member to resolve problems and questions relating to their loan application and financial information. Makes personal visits and inspections to properties for collateral. Negotiates and executes on loan proposals. Works with the business services team to oversee ordering of appraisals, title searches, surveys, credit reports and arrangements for inspections, UCC filings, etc.; evaluates all information gathered and ensures underwriting has begun. Works with Business Credit Analyst to oversee the analysis of loan, provides additional detail about the borrower and evaluates final written loan presentation. Ensure sound analysis, lending procedures, and loan conditions and covenants are utilized, comply with credit union’s Business Lending policy. Ensure written correspondence with applicant (commitment letter, proposal or term sheet) is in agreement with signed loan approval, does not expose credit union to additional liability; correspondence must be reviewed with a more senior lender. Attends Business Loan Committee meeting, presents loans for approval, and provides recommendations. Approves loans within established lending authority, presents loans exceeding authority to management. Provides input and recommendations for lending interest rates to the Business Services Manager and Loan Committee. Coordinate collection efforts with the Adjustment department for delinquent business loans. Cross-sell other credit union products, as appropriate. Attends seminars and/or classes necessary to keep current on regulations and trends affecting economy or specific business sectors. Assist in monitoring the loan operations reception, answers general questions relating to the services offered. Participate in training activities within the department/branches/human resources, as well as training outside the department; such training helps to ensure staff compliance with Credit Union policies and state and federal regulations and laws. Perform other duties and assist other employees as assigned. Level I Duties and Responsibilities
Assists with annual loan policy review and provides input and recommendations for change. Assists with updating the Business Loan Underwriting Manual. Review of loan commitment letters, proposals, and term sheets drafted by Commercial Loan Officer I. Provide support in maintaining business relationships including but not limited to builders, doctors, lawyers, accountants, dentists, key business owners, and real estate vendors to maintain community awareness of Credit Union products and services. Manages complex negotiations to resolve issues. Assist with managing delinquent or non-performing loans. Senior Commercial Loan Officer Duties and Responsibilities
All of Level I and II duties and responsibilities. Develop and maintain an active referral network for identifying potential new business. Assists in the training and development of Commercial Loan Officer I and II. Assists in the development of business loan products and services that best serve the Credit Union and its members. Provides input and recommendations for lending interest rates to the Business Services Manager and Loan Committee. Provides periodic reporting to the Business Services Manager in regards to state of the economy and opportunities in specific industries to target for the promotion of business service products. Provides input to Business Services Manager regarding the performance and technical knowledge of Commercial Loan Officer I and II. Ensures that Business Lending policies, procedures, and practices are in conformity with industry standards and regulatory policies. Works with the Senior Business Credit Analyst to ensure that the business loan pipeline service standards are met, including that loan decisions are generally made within a 3 business-week period. Qualifications
High School Diploma or equivalent required. Combination of Bachelor’s Degree in business, finance, or sales related field and/or at least four years of financial institution experience. Minimum two years as a Small Business Lender or commercial lending experience preferred. Minimum two years of progressively more responsible experience in numerous business lending functions. Minimum two years of commercial underwriting experience/knowledge. Analytical ability to conduct an analysis of an applicant’s credit status. Thorough knowledge of state and federal lending laws (Truth-in‑Lending, Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, Rights to Financial Privacy Act, Bank Secrecy Act, Money Laundering Control Amendment Act). Excellent member service and interpersonal skills. Must have excellent written and verbal (face‑to‑face and phone) communication skills including professional grammar and demeanor. Strong organizational skills with attention to detail. Ability to manage multiple tasks and member requests effectively with minimal supervision. Physical Demands and Work Environment
May be required to remain in a stationary position for an extended period of time. Ability to operate standard office technology, equipment and tools, which may include many hours of computer and phone usage. Occasionally needs to move about inside of office area. Exposure to potentially hazardous condition, i.e. robbery. Receives detailed instructions and procedures to be followed to minimize the exposure. This position is able to work in hybrid or onsite working arrangements. Disclaimer
Please note this job description is not intended to be construed as an exhaustive list of all functions, responsibilities, skills, and abilities. Additional functions and requirements may be assigned by supervisors as deemed appropriate. This document does not represent a contract of employment, and MSU Federal Credit Union reserves the right to change this position description and/or assign tasks for the employee to perform, as MSUFCU may deem appropriate. MSUFCU is an affirmative-action, equal-opportunity employer. To perform this job successfully, an individual must be able to perform each essential job duty satisfactorily. Reasonable accommodations may be made to enable qualified individuals with disabilities to perform essential job functions. Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.
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