Business Development Officer- (Commercial Lending)

Teachers Federal Credit Union•Hauppauge, NY

29d•$82,500 - $99,250•Onsite

About The Position

For over 70 years, Teachers Federal Credit Union has been committed to guiding members toward building a strong financial foundation today for a better tomorrow. Named one of America's Best-In-State Credit Unions by Forbes Magazine in 2022, Teachers has grown into one of the leading credit unions in the United States. As we broaden our national reach, we will continue to ensure that Teachers is a Best Place to Bank and a Best Place to Work. Teachers offers a variety of exciting career opportunities ranging from part-time and full-time staffers to executive leadership roles. This position is is not fully remote, must be able to work onsite in our Hauppauge headquarters Summary: The Business Development Officer (Commercial Lending) will seek, establish and maintain relationships with brokers, attorneys, accountants, other professionals, Teachers branch personnel and centers of influence to identify/solicit existing/prospective business members for commercial real estate loans.

Requirements

Bachelor's degree required or a minimum of eight years experience in a Business Development Officer role.
Minimum five years of commercial real estate lending experience required.
A proven track record and established book of commercial business required
Knowledge of commercial lending practices, policies, related laws/regulations/reporting requirements
Microsoft Excel and Word required.
Strong oral/written communication, interpersonal, analytical, sales, negotiating, customer service, community relations, computer, problem-solving and multitasking skills required. Strong knowledge of commercial real estate
High level of detail orientation, the ability to read/understand financial statements
Familiarity with issuing term sheets on a prospective loan.
Valid driver's license required.

Responsibilities

Provides potential borrowers with information on Teachers commercial loan products, underwriting parameters, rates and terms, answers their questions, obtains information on their commercial lending needs, guides them through the application process and reviews documentation to ascertain the likelihood of loan approval.
Networks with brokers, attorneys, accountants' other professionals, and commercial real estate agents, brokers and centers of influence to establish/maintain relationships to solicit new and existing sources for commercial real estate loans.
Participates in community relations activities to generate business.
Presents Commercial Real Estate lending products whenever appropriate and as directed.
Meets with potential commercial real estate borrowers locally and nationally to provide information on commercial lending products, services, rates and terms, answer their questions, obtain information on their needs, provide them with a commercial loan application, and guide them through the application process.
Evaluates potential borrowers for commercial loans/mortgages by obtaining and verifying their financial information (e.g., public record searches, tax returns, rent roll, balance sheets, personal financial statements, etc.) and pre-underwriting borrowers global financial position.
Inspects/evaluates owner occupied and commercial investment real estate properties, and analyzes tenant leases, historical income and expenses to determine potential earnings and borrowers' ability to repay loans via debt service coverage ratio.
After Pre-underwriting loan file, provides packaged commercial real estate package to Credit Analyst then acts as a liaison to borrowers/broker during the underwriting and closing process. Utilize Salesforce for commercial loan workflow.
Researches local market demographics to identify potential new products and programs, follow through with meetings with new prospective business members and contact them to further develop business relationships and solicit new business opportunities.
Partners with Teachers branch and other internal partners such as the Premier Team to ensure continued satisfaction of commercial borrowers, identify additional financing needs of guarantors, and provide information on existing and new Teachers commercial loan offerings.
Maintains ongoing contact with existing borrower to manage relationship.
Identifies opportunities to promote and establish ancillary services (e.g., merchant services, other Teachers lending and depository products) for existing and new business accounts.
Participate in community relations activities by attending civic and Chamber of Commerce meetings and events to promote business products and services.
Performs other duties as needed upon request by immediate supervisor

Benefits

Paid time off for vacation, personal days, and holidays
Fully-funded pension plan
401(k) company contribution
Teachers pays 100% of Dental & Vision premium
Tuition reimbursement is offered to full-time employees
Exclusive employee discount of 0.96% APR on credit card loans and a 1.00% APR on all other loans through Teachers

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