Commercial Relationship Specialist

Melrose Branch•Melrose, MN

16h

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 commercial portfolios and builds and maintains member relationships. It assists with gathering and reviewing loan documentation to ensure funding and closing comply with Magnifi Financial policies, procedures, and state and federal regulations. The specialist serves commercial members across loans, deposits, and other services; communicates status updates; maintains loan and deposit portfolio records; and helps prepare loan requests, renewals, annual reviews, and closing documentation. The role monitors required documentation and covenants, coordinates third-party items for closings, supports construction loan disbursements, and identifies products and services that meet members’ financial needs. It also supports SBA and government-guaranteed loans, recommends process improvements, and participates in community relations efforts.

Requirements

Associate’s degree in a business-related field, or equivalent experience.
Three years of commercial banking experience in a financial institution 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 commercial members, Commercial Banking Officers, and support staff.
Help maintain assigned Commercial Banking Officers’ deposit and loan portfolios.
Review and maintain commercial lending files, reports, and ticklers to ensure documentation is accurate, complete, current, and on file.
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 to complete loan requests.
Strengthen member relationships through follow-up calls and emails and provide service in branches, online, and over the phone.
Assist with preparing new loan requests and extensions.
Request documentation from members to satisfy loan-closing conditions.
Monitor loan covenants and notify lenders of violations.
Prepare, disburse, and mail proposal and commitment letters and adverse-action notices.
Order, receive, and review third-party items needed for closings, 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 refer members to appropriate departments.
Assist with Small Business Administration and government-guaranteed loans.
Suggest and help implement process improvements to increase departmental efficiency.
Participate in community relations efforts that support Magnifi Financial’s mission and visibility.

Benefits

Training and development opportunities
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 insurance
Dental insurance
Vision insurance
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