Commercial Loan Officer (Champaign - IL)

Prospect Bank - Champaign, IL

Full-time - Mid Level

Champaign, IL

Credit Intermediation and Related Activities

About the position

The Commercial Loan Officer at Prospect Bank is a pivotal role responsible for overseeing the quality and compliance of the bank's lending portfolio. This position requires a deep understanding of credit policies, loan procedures, and financial analysis to ensure that the bank's lending practices align with federal regulations and internal standards. The officer will be tasked with calculating the Allowance for Loan and Lease Loss Reserve (ALLL) and making informed recommendations to executive management and the Board of Directors regarding monthly allocations to the Loan Loss Reserve. This role is crucial in maintaining the integrity of the bank's lending operations and ensuring sustainable growth in the loan portfolio. In addition to managing the overall quality of loans, the Commercial Loan Officer will review and approve or decline large and complex loan applications before they are submitted to the Loan Committee. This involves a thorough analysis of financial information to support loan decisions, with a strong emphasis on credit quality. The officer will also oversee the management of past due loans, ensuring that appropriate actions are taken to correct any issues and that delinquent loans are collected effectively. The role includes the development and coordination of loan products and programs that align with the bank's strategic goals. The officer will also play a key role in training and developing lending services employees, ensuring they are equipped with the necessary skills and knowledge to perform their duties effectively. Monthly reporting on the loan portfolio to the Board is also a critical responsibility, along with fulfilling any additional duties assigned by the Board or CEO.

Responsibilities

• Collect and analyze financial information to support loan approval/denial decisions.
• Monitor credit quality to ensure adherence to the bank's quality standards.
• Oversee and manage the correction of past due loans and monitor loan file exceptions.
• Make recommendations for charge-offs of problem loans and manage the collection of charged-off loans.
• Ensure compliance with applicable bank regulations for all lending practices.
• Coordinate and develop loan products and programs consistent with the bank's goals and practices.
• Adhere to customer confidentiality and information security programs for the lending function.
• Assist in the development and implementation of training and professional development for lending services employees.
• Prepare monthly loan portfolio reports for the Board.
• Fulfill duties, projects, or processes assigned by the Board or CEO.

Requirements

• Bachelor's degree (B.A.) from a four-year college or university; or at least five years of related experience and/or training; or equivalent combination of education and experience.
• MBA preferred.
• Strong critical thinking and problem-solving skills.
• Good communication and presentation skills.
• Knowledge of rate and risk structure of portfolio management.
• Experience with commercial, consumer, and mortgage lending.