Position: Commercial Loan Officer, Self-Help Federal Credit Union
Self-Help Federal Credit Union, a leading Community Development Financial Institution (CDFI) has been expanding rapidly, both in California and nationally. Having focused primarily on consumer and mortgage lending for our early years in California, Self-Help is now committed to growing its commercial lending activity to support community development in underserved communities and markets. As such, we seek to add one or more experienced professionals to our team at locations throughout the state.
The Commercial Loan Officer (LO) will be responsible for originating and closing mid-size and complex commercial loans (generally from $500k-$20+million) including assessing an applicant, performing financial analysis and industry and market research, evaluating management capacity and collateral, among other factors, to complete loan transmittals for underwriting.
Critical to this role is the understanding of the value of team work and customer relationships as the LO will have direct contact with both internal and external customers and will work closely with other loan officers, sector leaders and underwriters to perform the principal duties and responsibilities of the role. Current sector focuses include charter schools, commercial real estate, energy efficiency and green, healthy foods, child care, faith-based and affordable housing.
Leadership responsibilities can be structured around a compelling candidate’s prior experience and interests – be that team supervision, strategy development and/or loan execution. Location is also flexible among many of Self-Help’s California locations. Our priority is to identify candidates with a demonstrated commitment to economic development and social justice, and a preference for a diverse and collaborative workplace; the role can then be structured around the candidates lending experience.
Responsibilities of the role may be specifically tailored based on a successful candidates past experience, but will include some or all of the following:
- Serve as lead originator (loan officer) on mid-size and complex loans to evaluate loan requests and participate on teams originating larger/more complex loans, including:
- Analyze financial statements of project sponsors and guarantors
- Compile and analyze project pro-forma, including evaluating income, expense, and other assumptions
- Assess management capacity of project team
- Conduct and analyze feasibility, market, and sector research
- Evaluate appraisals and other collateral information
- Evaluate viability of construction delivery process, if applicable
- Identify, evaluate, and make determinations regarding key credit/risk drivers, and propose strategies to mitigate such risks
- Originate and close loans in coordination with other team members
- Meet loan production and delinquency goals.
- Participate on teams with more experienced Loan Officers to originate larger/more complex loans. In these situations, may be assigned to handle specific aspects of the origination process and/or may serve as project lead on teams where experience and strength of industry knowledge warrant.
- Actively participate in servicing the loan portfolio along with other members of the portfolio management team.
- Conduct site visits
- Evaluate annual financials and risk management reports
- Work with others team members to resolve troubled loans
- Analyze, monitor, and process construction draws, including:
- Continually assess whether or not the project is on budget and schedule
- Provide technical assistance to borrowers if construction concerns arise, in conjunction with other team members
- Build and maintain strong relationships with borrowers through closing and post-loan closing, as well.
- Provide excellent customer service, including prompt responses, basic technical assistance and referrals to other technical assistance providers as appropriate.
- Implement business development plans as necessary, including one-on-one meetings and presentations to referral sources and potential borrowers.
- Participate in product development with sector lending leaders, contributing knowledge based on industry and credit experience.
- May serve as mentor of less experienced loan officers and assist in training, as needed.
- Perform other duties as may be deemed necessary and appropriate.
Education and/or Experience:
- At least 5 years relevant experience in lending, finance, community economic development or other related field. More experience a plus.
- 4 year college degree or similar education preferred, but not required.
- Graduate degree in Business, City Planning, Public Policy or Law (or a related field) a plus.
Knowledge, Skill and Ability:
- Demonstrate Self-Help's corporate competencies:
- Mission and Values
- Standards of Excellence
- Teamwork and Collaboration
- Initiative and Follow-Through
- Customer Focus
- Sound quantitative and critical thinking skills:
- Ability to spread and analyze financial statements, project cash flow projections, and project management; study and evaluate information; and make sound recommendations based on risk assessment
- Ability to analyze new industries, considering industry drivers and competitive threats, and develop new contacts to provide in-depth industry knowledge
- Solid communication skills:
- Ability to communicate clearly and effectively with clients and team members, including setting appropriate expectations
- Ability to write clear and concise loan transmittals, including translating financial and numerical data into written form
- Ability to advocate for a borrower and their project at credit committee and ability to advocate for Self-Help when working with a borrower
- Strong attention to detail
- Ability to work cooperatively in teams
- Strong project management skills, including ability to set priorities and organize competing priorities.
- Ability to build and maintain strong relationships with referral sources and other internal and external key stakeholders, including presenting Self-Help products and programs to individuals and groups as necessary
- Proficiency with MS Word, Excel and PowerPoint
- Sensitivity to issues of low-wealth borrowers and a desire to work in a racially and socially diverse organization
- English/Spanish fluency a plus
Physical requirements/work environment:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Close vision is required.
- Employee is regularly required to: sit; talk and hear; use hands to finger, handle or feel; and reach with hands and arms.
- Employee is frequently required to type and use a keyboard.
- The employee must occasionally lift and/or move up to 10 pounds.
Self-Help is a leading national community development financial institution headquartered in Durham, NC. Since 1980, Self-Help has provided over $7 billion in financing to 146,000 families, individuals and businesses. It helps drive economic development and strengthen communities by providing responsible financial services; lending to individuals, small businesses and nonprofits; developing real estate; and promoting fair financial practices across the nation. The Self-Help family of nonprofit organizations includes Self-Help Credit Union, Self-Help Federal Credit Union, Self-Help Ventures Fund and the Center for Responsible Lending. Through its credit union network, Self-Help serves over 145,000 people in North Carolina, California, Chicago and Florida. Learn more at www.self-help.org, www.self-helpfcu.org and www.responsiblelending.org.
We are an equal-opportunity employer:
Self-Help is committed to providing equal employment opportunities to all persons regardless of race, religion, religious creed, color, national origin, ancestry, physical disability, mental disability, medical condition, genetic information, marital status, sex, gender, gender identity, gender expression, age, sexual orientation, military and veteran status, ancestry, class or family status.
Competitive nonprofit salary, based on experience, plus a generous benefits package that includes health, dental, vision, life insurance, flexible spending plan, retirement plan, and paid parental leave.
To apply, please send resume AND cover letter, describing why you believe you are a good fit for this position, to firstname.lastname@example.org Please include the position title as the subject. PLEASE NOTE: ANY RESUME SUBMISSIONS THAT DO NOT INCLUDE A COVER LETTER WILL BE DISREGARDED WITHOUT ANY FURTHER CONSIDERATION. The position will remain posted until filled.