Commercial Covenant Compliance Specialist

CREDIT UNION 1•Lombard, IL

19d•$24 - $30•Onsite

About The Position

The Commercial Covenant Compliance Specialist plays a critical role in post-closing loan servicing by ensuring ongoing compliance with financial and non-financial covenants across the commercial loan portfolio. This position is responsible for tracking borrower obligations, analyzing covenant performance, and coordinating with internal teams to mitigate risk and maintain regulatory and policy alignment.

Requirements

Bachelor’s degree in Business Administration, Finance, Accounting, Economics or related field of study. Will accept any suitable combination of education, experience, and/or training.
2–4 years of experience in commercial loan servicing, covenant tracking or financial analysis.
Familiarity with commercial loan documentation and servicing systems
Requires strong organizational skills, professional appearance, and attitude.
Ability to inspire and successfully manage a diverse group of professionals working in multiple locations.

Responsibilities

Monitor and track borrower compliance with loan covenants, including financial reporting, performance metrics, and other contractual obligations.
Maintain a covenant tracking system to ensure timely receipt and review of required documentation.
Analyze borrower’s financial statements and covenant calculations to identify potential breaches or concerns.
Collaborate with Credit Analysts, Loan Officers, and Legal Counsel to address covenant violations and recommend appropriate actions.
Communicate with borrowers regarding covenant requirements, deadlines, and resolution of deficiencies.
Support internal and external audits by providing covenant-related documentation and explanations.
Assist in the development and refinement of covenant tracking procedures and servicing workflows.
Stay informed on regulatory changes and industry best practices related to covenant compliance.
Maintain accurate servicing records in accordance with audit and regulatory standards.
Promote CU1’s core values of Be Great, Be Engaged, Be Open, Be Nice.
Perform other duties and assist other employees, as assigned.

Benefits

Get paid for NOT working 14 holidays each year!
Paid Time Off (PTO) begins accruing day one of employment
Tuition reimbursement for approved courses (after 1 year)
Free Employee Assistance Program (EAP)
Livongo Diabetes Management Program
Career growth opportunities it's our philosophy to promote from within whenever possible. Credit Union 1 is committed to your success and professional development.
Excellent benefits packages including:
Medical PPO insurance
High Deductible Health Plan (HDHP) and Health Savings Account (HSA)
Dental & vision insurance
Life, AD&D, short and long-term disability insurance (100% company paid)
401(k) retirement and profit-sharing plan (must be 20 years old)
Free Teledoc 24/7 Physician Services
Pet Insurance
Paid Family Medical Leave (When FMLA Eligible)
Being part of a team providing services with the goal of improving the ongoing economic well-being of our members.
Exclusive interest rate reduction for qualifying loan products.