LOAN OPERATIONS MANAGER
About The Position
The Illinois Department of Commerce and Economic Opportunity (DCEO) is seeking to hire a Loan Operations Manager to support Illinois’ loan programs including those funded through the State Small Business Credit Initiative (SSBCI) program. The Office of Entrepreneurship, Innovation & Technology (OEIT) supports entrepreneurs through a variety of programs providing access to capital for small businesses. This position will be responsible for supporting the administration and operations of DCEO’s Advantage Illinois Participation Loan and Loan Guarantee Programs. This role will help provide low-cost capital loans to eligible businesses in Illinois to support businesses as they establish and grow, create and retain jobs, and spur economic development. We invite qualified applicants to apply for the position of Loan Operations Manager to help provide equitable and fair access to capital to businesses in Illinois.
Requirements
- Requires knowledge, skill and mental development equivalent to completion of four (4) years of college.
- Requires prior experience equivalent to three (3) years of progressively responsible administrative experience in a public or business organization.
- Requires three (3) years of supervisory experience.
Nice To Haves
- Prefers a minimum of three (3) years of professional experience preparing underwriting documentation and reviewing loan applications, promissory notes and/or loan closing documents.
- Prefers a minimum of three (3) years of professional experience within the past ten years performing financial, administrative, or operational tasks associated with a participation loan program or a loan guarantee program.
- Prefers a minimum of two (2) years of professional experience in grant/loan administration.
- Prefers a minimum of two (2) years of experience utilizing a loan or grant management system to execute the lifecycle of loan or grant administration.
- Prefers a minimum of two (2) years of experience preparing written and verbal reports and performing descriptive data analysis, including managing and aggregating information to improve programs.
- Prefers four (4) years of college with concentration in one or more of the following fields: accounting, finance, business, business administration, statistics, mathematics, econometrics, or economics.
Responsibilities
- Under direction, serves as Loan Operations Manager for the Advantage Illinois Participation Loan Program (PLP) and Loan Guarantee Program (LGP) and successor programs.
- Establishes departmental goals and procedures for the Loan Operations Team to align with organizational objectives and regulatory requirements.
- Serves as full-line supervisor.
- Directs the administration of and administers loan enrollments and loan payments/ funding.
- Evaluates the eligibility of credit proposals submitted to the Department.
- Performs other duties as required or assigned which are reasonably within the scope of the duties enumerated above.
Benefits
- A Pension Program
- Competitive Group Insurance Benefits including Health, Life, Dental and Vision Insurance
- 3 Paid Personal Business Days annually
- 12 Paid Sick days annually (Sick days carry over from year to year)
- 10-25 days of Paid Vacation time annually - (10 days in year one of employment)
- 13 Paid Holidays annually, 14 on even numbered years
- Flexible Work Schedules (when available dependent upon position)
- 12 Weeks Paid Parental Leave
- Deferred Compensation Program - A supplemental retirement plan
- Optional Pre-Tax Programs such as Medical Care Assistance Plan (MCAP), Dependent Care Assistance Plan (DCAP)
- Federal Public Service Loan Forgiveness Program eligibility
- GI Bill® Training/Apprenticeship Benefits eligibility for qualifying Veterans
- 5% Salary Differential for Bilingual Positions
- Commuter Savings Program (Chicago only)
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What This Job Offers
Job Type
Full-time
Career Level
Manager
Education Level
Associate degree
