Rural Community Assistance Corporation (Rcac) - Seattle, WA
posted 5 months ago
The Senior Loan Officer at the Rural Community Assistance Corporation (RCAC) plays a crucial role in supporting community development projects under the general supervision of the Loan Production and Credit Manager. This position involves working closely with both Loan Officers and Technical Assistance (TA) providers to develop a borrower base and maintain relationships with borrowers throughout the life of their loans. The Senior Loan Officer is responsible for originating and underwriting loans, as well as servicing and managing a loan portfolio. Specific job goals, objectives, and tasks are established for each employee as part of the annual evaluation and work plan process, ensuring that the role aligns with the organization's mission and goals. In this role, the Senior Loan Officer supports clients through all stages of the lending process, which includes assisting with applications, conducting financial analyses, underwriting loans, and preparing documentation for loan approval. The officer ensures efficiency and accuracy in the loan application process, maintaining a high-quality individual loan portfolio while supporting overall collection and recovery management efforts. Monitoring the existing loan portfolio is essential to identify potential problems early, and servicing current client accounts is a key responsibility. The Senior Loan Officer works with prospective nonprofit, Tribal, and public-sector loan applicants, assisting them in analyzing their needs and structuring loan requests. They also engage with small business loan applicants, determining applicable loan products to meet their business needs. This involves analyzing historical and projected cash flow, assessing business viability, and reviewing various financial documents. The officer efficiently processes complete application packages, ensuring compliance with RCAC's guidelines and standards, and structures loan rates and terms accordingly. Additionally, the Senior Loan Officer prepares construction draws, negotiates loan terms with borrowers, and collaborates with the Loan Production and Credit Manager to finalize proposed terms and credit memos. They make decisive loan recommendations and present proposed loans for staff credit review and RCAC Loan Committee approval. Maintaining accurate pipeline reports and conducting periodic analyses of borrower financial statements are also part of the role. The officer is expected to market and represent RCAC and the loan fund to existing and potential clients, while maintaining professional relationships with federal, state, and other agencies that provide resources for rural areas. Continuous professional development is encouraged through educational workshops and participation in professional societies.