Commercial Loan Business Development Officer sells commercial loan services to prospective clients. Develops the initial relationship with prospects and coordinates with loan relationship manager to close selling process. Being a Commercial Loan Business Development Officer develops sales strategies for expanding referral sources. Typically requires a bachelor's degree. Additionally, Commercial Loan Business Development Officer typically reports to a manager or head of a unit/department. The Commercial Loan Business Development Officer gains exposure to some of the complex tasks within the job function. Occasionally directed in several aspects of the work. To be a Commercial Loan Business Development Officer typically requires 2 to 4 years of related experience. (Copyright 2024 Salary.com)
Description
Originate process and close business loans along with the continuous management of the loan portfolio. Open deposit and loan accounts assuring account documents are correct. Provides referrals to other departments such as retail and mortgage.
Develop a strong network of relationships with local centers of influence, brokers and businesses while continuing to expand banking relationships within our current customer base.
Essential Job Functions
· Originates, underwrites, and closes all forms of commercial/small business loans, with accuracy and adhering to regulatory compliance, and bank policy. Obtaining financial documents and any other necessary documentation to prepare financial analysis and/or establish deposit accounts
· Manage existing book of business. Calls on “AAA rated” clients at least quarterly and other clients as appropriate based on importance/profitability to the bank. Calls on customers as the size and needs of the client dictates.
· Prepare and present risk sheets to loan committee for relationships greater than $100,000
· Regularly monitors loan repayment activities on loans under management and takes appropriate customer service action to collect past due notes and payments. Reports weekly, identifying all past due accounts, actions taken, and the customer’s plan to bring accounts to current payment basis.
· Follow up on all business loans in the assigned portfolio which are over 10 days past due in order to achieve a level of less than 2.5% past due on both total number of loans and total dollar amount of all commercial loans managed.
· Service deposit accounts and loans which would include answering customer questions; calling on past due accounts; work with third parties such as accountants, lawyers (on-going)
· Update financial information as required by loan agreements, bank policy and regulation (can be monthly, quarterly but, at a minimum, annually)
· Work out credits in the event they become distressed to reduce risk exposure to the bank
· Work with all parties in the branch and bank to assure positive attitudes, superior customer service and maintain adequate staffing
Requirements
Qualification Required
· Bachelor’s Degree in Accounting or Finance
· Strong problem solving and analytical skills
· Intermediate PC skills (Excel, Word, etc.)
· Excellent customer service skills
· Detailed oriented