Commercial Relationship Specialist
About The Position
The Commercial Relationship Specialist works closely with Commercial Banking Officers, commercial processing and servicing teams, post-close staff, and branch staff. The role services diverse commercial portfolios and builds and maintains member relationships. It assists in gathering and reviewing loan documentation to ensure funding and closing comply with Magnifi Financial policies, procedures, and state and federal regulations. The specialist provides member assistance across loans, deposits, and other services, communicates status updates, maintains lending files and portfolios, enters loan request information, and gathers documentation for requests and closings. The role also supports loan preparation, covenant monitoring, construction loan administration, third-party closing items, disbursements, and SBA and government-guaranteed loans. It identifies appropriate products and services, refers members to relevant departments, contributes process improvements, and participates in community relations.
Requirements
- Associate degree in a business-related field or equivalent experience.
- Three years of commercial banking experience in a financial institution is preferred, or equivalent knowledge and skills gained from related work experience.
Nice To Haves
- Three years of commercial banking experience in a financial institution.
Responsibilities
- Assist commercial members in person with loans, deposits, and other Magnifi Financial services.
- Communicate loan, deposit, and service status updates to members, Commercial Banking Officers, and support staff.
- Assist in maintaining assigned Commercial Banking Officer deposit and loan portfolios.
- Review commercial lending files and monitor reports and ticklers to ensure documentation is accurate, complete, and up to date.
- Enter data for loan requests, renewals, ad hoc requests, change memos, and annual reviews into the lending system.
- Work with members to collect financial information and documentation needed for loan requests.
- Enhance member relationships through follow-up calls and emails.
- Serve members in branch, online, and over the phone.
- Assist with preparing new loan requests and extensions.
- Request member documentation needed to satisfy loan-closing conditions.
- Assist with covenant monitoring and notify lenders of violations.
- Prepare, disburse, and mail proposal and commitment letters and adverse actions.
- Order, receive, and review third-party closing items, including title work, appraisals, environmental risk assessments, and insurance.
- Request disbursements and loan advances, subordinations, partial releases, satisfactions, and fee reversals.
- Maintain knowledge of loan documentation, credit policy, and applicable state and federal regulations and Magnifi Financial policies.
- Work with Commercial Banking Officers to monitor construction loans, follow fund-disbursement procedures, and collect lien waivers.
- Use the sales process to identify and recommend products and services based on members' financial needs and make referrals to appropriate departments.
- Assist with Small Business Administration and government-guaranteed loans.
- Suggest and help implement process improvements to improve departmental efficiency.
- Participate in community relations efforts that support Magnifi Financial's mission and visibility.
Benefits
- Opportunities for training and development
- Leadership development
- Job-level advancement through training and development
- Tuition reimbursement
- 32 hours of paid volunteer time off
- Paid time off, starting at four weeks per year for full-time employees; prorated for part-time employees
- Medical benefits
- Dental benefits
- Vision benefits
- Employer-paid life insurance and AD&D
- Employer-paid disability insurance
- Retirement plan with employer match up to 4%, with eligibility for annual profit sharing
- Paid parental leave
- Bonus/incentive program
- Health and wellness programs
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
Associate degree
