Commercial Loan Officer
Company: Reading Co-Operative
Posted on: June 18, 2022
Job DescriptionPOSITION SUMMARYReading Cooperative Bank seeks a
Commercial Loan Officer for the Lynn Market. He/She will source,
originate, evaluate, underwrite and recommend for approval quality
commercial loans including but not limited to: Construction loans,
commercial real estate loans, C & I loans, lines of credit, term
loans, equipment loans all adhering to the Bank's credit policy.
He/she will administer an assigned Commercial loan portfolio
including review and recommend approval of requisitions, site
inspections, loan monitoring, collection of overdue accounts and
recommend Bank strategy in loan workouts and restructured loans.
The Commercial loan officer is expected to exercise discretion and
independent judgment in their decision making. ESSENTIAL DUTIES AND
- Interviews applicant obtaining completed loan application
packages, preparation of an initial loan proposal draft, and
diligent follow up on all needed documents as requested by the
- Maintain active communication with Credit Department while
acting as the customer's point of contact for any and all questions
that may arise, thus ensuring that the client's needs are met, and
the loan closes is in a timely and organized manner.
- Responsible for monitoring all pending loan applications for
timely responses by both RCB and client to ensure that no loan
becomes stale, clients are kept fully aware of their progress
through the application process and that loans close within a
- Responsible for managing and reporting on an assigned loan
portfolio which will entail but will not be limited to, discussing
clients with Senior Management.
- May perform annual reviews of existing commercial loan
- Assists in the collection of overdue or delinquent payments,
taxes, insurance. Analyzes and recommends workout strategies on
- Develops business for the Bank by actively seeking high quality
commercial loans and cross sells other products as
- Interacts with attorneys, consultants, inspectors, etc. as
required. Performs property inspections and recommends
disbursements for construction loans.
- Monitor relationship on an ongoing basis for financial and
collateral performance, including preparing historical and
projected financial statements, modeling, and analysis (A/R aging,
- Ensures loan agreements and all necessary documents are
complete and accurate according to Bank policy. Documents loan
activity and performance requirements of borrowers by creating
paper trail in loan file and by obtaining proper
- Utilizing Bank procedures, may administer loans for inspection
funding, partial releases and maturities. Maintains integrity of
assigned loan portfolio by performing due diligence on collections,
workouts, and other miscellaneous matters. Recommends problem
solving action in various matters relating to specific loans within
- Performs business development activities as assigned.
- Participates in special projects and assumes additional
responsibilities as required.MINIMUM KNOWLEDGE, SKILLS AND
- Bachelor's degree (B. S. in business, finance, or related
field) from four-year college or university strongly
- Three to five years related experience and/or training; or
equivalent combination of education and experience strongly
- Demonstrated strong referral network including relationships
with CPA's, Financial Planners, Real Estate Brokers, Attorneys, and
- Continuing education on the evolving and changing banking
environment that affects real estate lending such as Sec. 21-E
issues, appraisal requirements, state and federal laws
- Familiarity with loan terminology and legal requirements.
- A history or external sales focus and community involvement
- Excellent interpersonal skills required.
- Demonstrated ability to define problems, collect data,
establish facts, and draw valid conclusions.
- Demonstrated analytical, problem solving, and decision-making
- Demonstrated excellent communication – both written and verbal
- Must be a "team player", flexible and willing to support other
business line partners to provide excellent customer service.
- Must be results oriented and able to prioritize multiple
- Must be a person of high integrity who is dependable and
professional at all times.
Keywords: Reading Co-Operative, Lynn , Commercial Loan Officer, Other , Lynn, Massachusetts
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