Business Loan Associate

Credit Union 1 • Anchorage, AK

3d • $28 - $42 • Hybrid

About The Position

The Business Loan Associate plays a critical role in supporting Credit Union 1’s business lending function by combining business loan processing, credit analysis, documentation, and servicing responsibilities. This position directly supports the Business Loan Officer and Leadership by managing loan files from initial application through closing and ongoing portfolio maintenance. This role requires strong organizational and analytical skills, attention to detail, and the ability to manage multiple loan files while supporting sound risk management practices. This position is based out of our Anchorage Headquarters (1941 Abbott Rd.) and is open to a Hybrid work schedule. Pay Range: $27.72 - $41.67

Requirements

• High school diploma or equivalent.
• One (1) to two (2) years of lending or loan processing experience, credit analysis, or a comparable analytical, administrative, or professional role; relevant education may substitute for experience.
• Strong organizational and project management skills, with the ability to prioritize and manage multiple initiatives and build effective business relationships.
• Experience and interest in community development, business development, and networking.
• Demonstrated ability to drive business growth, improve efficiency, and achieve targets.
• Effective written and verbal communication skills.
• Responsible for abiding and complying with the policy for compliance with the Bank Secrecy Act and anti-money laundering laws and regulations (BSA/AML) and the policy for compliance with office of foreign assets control laws and regulations (OFAC).

Nice To Haves

• Bachelor’s degree (completed or in progress) in finance, accounting, economics, or a related field emphasizing analytical writing and critical thinking.
• One (1) to two (2) years of experience in commercial or real estate loan processing/documentation preparation.
• One (1) to two (2) years of financial statement spreading, tax return analysis, and cash flow analysis.
• One (1) to two (2) years’ Experience using LaserPro, Bukers, or similar commercial loan software.
• One (1) to two (2) years’ with covenant monitoring, annual reviews, risk rating analysis, and portfolio management.
• Understanding of NCUA Regulation Part 723.
• Experience supporting commercial loan officers, underwriters, or credit committees.
• Familiarity with Alaska’s economic landscape and business environment is a plus.

Responsibilities

• Loan Processing, Credit Support, and File Management: Review and vet new loan applications for eligibility and completeness, following up with borrowers to obtain any missing or additional information. Collect, review, and validate borrower and guarantor documentation, including financial statements, tax returns, entity documents, collateral records, and insurance. Update and monitor logs for pipeline, member inquiries, LOC renewals, Covenants, Watch Reviews, Annual Reviews, Funded to Loans Goal, and policy exceptions. Process DMV filings, desktop appraisals, third party appraisals, credit reports, background checks, and manage UCC filings and continuations.
• Credit and Financial Analysis: Perform pre-underwriting analysis of loan requests, including cash flow, liquidity, and collateral, to determine initial eligibility and support the Loan Officer by identifying qualified requests early. When requests do not meet lending criteria, prepare loan denials and complete required adverse action notices in accordance with regulatory requirements. Assist with preparation of credit memoranda, loan presentations, renewals, and modifications for review by designated approval authorities. Support risk rating analysis and ongoing portfolio monitoring, including identification of potential credit concerns. Complete annual reviews, covenant testing, and watch list reviews as assigned.
• Internal Collaboration and Communication Coordinate with the Business Loan Officer, DMV Team, Branch staff, Business Services, and third-party vendors to ensure efficient processing and service delivery. Communicate loan status updates, documentation needs, and potential issues to business loan officers and management. Participate in meetings, training sessions, audits, and special projects as assigned.
• Member and Relationship Support: Serve as a point of contact for business members regarding documentation requirements, loan status, and servicing needs. Support Business Loan Officers by assisting with member communication and follow-up related to loan requests and renewals. Educate borrowers of business loan products as well as other products offered by the credit union such as treasury management, business accounts, merchant services, etc. Provide general education to business members regarding loan structures, documentation requirements, and credit union processes. Build and maintain relationships with business professionals, community organizations, and industry partners.
• Compliance and Professional Development: Maintain working knowledge of Credit Union 1’s business lending policies, standards, and procedures. Ensure loan files meet NCUA regulatory requirements, internal policy, and audit standards. Assist with gathering documentation, reports, and responses for NCUA examinations, state examinations, and internal audits. Develop proficiency in Credit Union 1’s core system, loan documentation software, spreading tools, and related technology platforms. Participate in ongoing training and professional development related to business lending, credit analysis, and risk management.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: High school or GED