Loan Officer

$60,000 - $100,000/Yr

Commonwealth Business Bank - Fort Lee, NJ

Full-time - Entry Level

Fort Lee, NJ

Credit Intermediation and Related Activities

About the position

The Loan Officer position is responsible for underwriting and processing new loan requests while managing an existing portfolio. This role involves supporting credit lending decisions, analyzing commercial loan requests, and ensuring compliance with all relevant guidelines and regulations.

Responsibilities

• Supports credit lending decisions by analyzing commercial loan requests, underwriting, structuring, and closing of commercial loans.
• Responsible for creation of financial spreadsheets and assessing borrower's cash flow utilizing personal and business tax returns.
• Ensures all information is accurate and complete, following all guidelines, policies, procedures, and regulations.
• Collects documents directly from Borrower or in conjunction with BM/RM.
• Engages Appraisal/Environmental/Title as needed.
• Collects and analyzes 3rd party reports such as UCC, Experian, Corp Search, etc.
• Timely collection of financial and other ticker updates.
• Timely performance of site visitation.
• Communicates and works effectively with the back end of operations to complete the booking process of loans and perform additional requests from the borrower.
• Possesses advanced knowledge of personal and business financial statements and tax returns to assess a company or borrower's financial standing.
• Responsible for managing accounts for new and existing clients including delinquent status loans, effectively managing the loan process from origination through booking.
• Complies fully with all Bank policies and procedures as well as all regulatory requirements.

Requirements

• Intermediate knowledge on credit analysis.
• Ability to work on multiple loans simultaneously.
• Excellent time management skills.
• Working knowledge of Microsoft Office.
• Effective written, verbal, and organizational skills with meticulous attention to detail.
• Bachelor's degree from an accredited 4-year University.
• Minimum of 1-3 years of lending experience required.

Benefits

• Medical Insurance
• Dental Insurance
• Vision Insurance
• Life Insurance
• 401k retirement savings plan
• Paid federal holidays