Vice President - Commercial Loan Officer

$100,000 - $100,000/Yr

Millbury Federal Credit Union - Millbury, MA

Full-time - Senior

Onsite - Millbury, MA

Management of Companies and Enterprises

About the position

The Vice President - Commercial Loan Officer at MCU Commercial Services is responsible for examining, evaluating, and authorizing or recommending approval of customer applications for commercial loans. This role involves managing a portfolio of commercial loan relationships, ensuring compliance with credit policies, and promoting the credit union's products and services. The position emphasizes quality service and aims to empower employees to positively impact the lives of members.

Responsibilities

• Examine, evaluate, and authorize or recommend approval of customer applications for commercial loans.
• Manage assigned portfolio of commercial loan relationships to ensure compliance with credit policies and procedures.
• Source, interview, and develop applicants for loan applications.
• Request and analyze applicant financial statements, credit reports, and other pertinent information.
• Compile loan packages and facilitate negotiation of loan structures with applicants.
• Approve loans within specified limits or refer to the Manager and credit committee for approval.
• Ensure loan agreements are complete and accurate according to policy.
• Identify and analyze potential loan markets to develop prospects for commercial loans.
• Advise loan manager of external factors affecting lending policies.
• Promote and cross-sell other establishment products and services as appropriate.
• Communicate regularly with existing commercial loan members to ensure timely loan payments and accurate financial reporting.
• Document any material changes to the condition of collateral.
• Interface with federal regulators and credit union personnel to ensure compliance with policies.
• Attend business networking and charitable functions to develop commercial lending prospects.

Requirements

• 10 years or more experience in the financial industry.
• Possess a working portfolio of commercial members within the Company's field of membership.
• Knowledge of loan regulations.
• Ability to cross-sell.
• Proficient in Microsoft Office.
• Solid verbal communication skills.
• Bachelor's degree in business preferred.

Nice-to-haves

• Demonstrated competencies in Achievement Focus, Analytical Skills, Business Acumen, Communications, Consultative Selling, Impact & Influence, Judgment, and Quality Management.

Benefits

• Medical, Dental, Vision & Prescription Coverage
• 401(k) Retirement Plan with employer match and employer funded profit sharing
• Tuition Assistance Program
• Vacation, Personal and Sick time
• Paid Holidays
• Base salary range starting at $100,000 annually
• Quarterly commissions paid on new business production