Commercial Loan Officer

Chartway Federal Credit Union•Virginia Beach, VA

About The Position

The Commercial Loan Officer is responsible for sourcing, originating, and managing loans for commercial real estate and small businesses. This role emphasizes building and maintaining strong relationships with members, prospective borrowers, and key referral partners to expand the credit union's commercial lending portfolio. By engaging with clients through various channels—including in-person meetings, phone calls, and digital outreach—the Commercial Loan Officer plays a crucial role in identifying lending opportunities and providing customized financial solutions. This position requires a comprehensive understanding of credit analysis, risk assessment, and loan structuring. The Commercial Loan Officer will evaluate financial statements, analyze risk factors, and ensure loan applications comply with the credit union's policies and regulatory guidelines. Additionally, the officer will guide applicants through the loan process, ensuring accuracy and completeness while delivering high-quality service and responsiveness. Collaboration is essential, as this role works closely with the Business Lending Team to facilitate smooth loan approvals and resolve any issues. The Commercial Loan Officer should also identify opportunities to cross-sell additional credit union products that meet business members' financial needs. Staying informed about market trends, regulatory changes, and industry best practices is vital for success in this role.

Requirements

Ability and desire to make solicitation calls in person and on the phone.
Ability to build a network of commercial real estate referral sources, generate sales leads and produce loans on own initiative.
Ability to analyze financial statements to determine liquidity, cash flow, debt-to-worth, trends, and etc. Underwriting skills to include ability to add context to credit memorandum, write analysis on repayment ability, liquidity, cash flow, trends, leverage, collateral, management, and credit.
Ability to submit prospecting leads and enter loan application data into commercial loan origination systems.
Understanding of NCUA and credit union guidelines for commercial loans and good understanding of member business lending.
Presentation skills to present loans to business loan committee.
Ability to work collaboratively and autonomously in a fast-paced environment.
Ability to assist in minimizing risk to credit union, maximize borrowing potential and maintain professional reputation of credit union.
Minimum 3 years commercial lending sales experience.
Associate’s degree in business, finance or related field, or equivalent experience.
Candidates must have a good credit history for consideration.

Responsibilities

Identify and cultivate relationships with potential borrowers, developers, real estate professionals and brokers to solicit leads for commercial real estate loans.
Networking within the local business community to promote the Chartway brand and build relationships with brokers and others to source new leads.
Participating in community events, conferences, networking, or other events to promote Chartway Credit Union and commercial lending.
Pre-qualify members or potential members, interview the member to complete application, gather necessary documents, assemble loan file, issue preliminary disclosures with related fees, and prepare loan application for processing.
Assist borrowers with completing loan applications and submitting documents through the Online Application Portal.
Entering new commercial loan borrower leads, loan application data, and documents into loan origination system for processing.
Assist in loan closing activities such as preparation of loan documents, coordinating title company closings, etc.
Evaluates credit data, financial statements, cash flow and collateral to determine credit quality of applicants. Educates members regarding credit products and services and how they can serve their needs. Communicates reasons for decline for applicants when their loan request is denied.
Conduct site visits to view and document condition of collateral.
Advise members of steps and normal timeframes in loan process, including but not limited to setting expectations for time critical events, rates, fees, APR and other important elements of financing.
Cross sell additional credit union products and services that complement and enhance the member’s financial well-being.
Must successfully participate and pass all Continuing Education work as requested by Chartway and /or required by Regulatory agencies
Assist loss mitigation team with collection efforts on past due loans.
Mentoring/Assisting novice commercial loan officers in building commercial loan program at Chartway.
Build relationships with, advise, and educate retail team members and others on Commercial Real Estate products and advise on how to properly refer members for Commercial Loans.
Must have, or obtain within 60 days of employment, a current NMLS individual license and maintain current NMLS designation at all times while Commercial Loan Officer.