Vice President - Commercial Loan Officer

Vice President / Commercial Loan Officer

Location: Millbury, MA

Schedule: Full-Time, this is not a remote position

MCU Commercial Services is a subsidiary of Millbury Federal Credit Union.

What we do at MCU Commercial Services (MCUCS) will provide a vital contribution to everyone's success. That success is gained by attracting good people and by creating a work environment where everyone enjoys where they work, and they feel empowered by changing the lives of our members. The simple truth is that people, who work at MCUCS, enjoy being surrounded by people who enjoy what they do.

Working at MCU- Commercial Services: As a CUSO of Millbury Federal Credit Union, MCUCS places strong emphasis on providing quality service to our members and you! MCUCS offers a family - friendly working environment and outstanding benefits.

Benefits: Medical, Dental, Vision & Prescription Coverage, 401(k) Retirement Plan with employer match and employer funded profit sharing, Tuition Assistance Program, Vacation, Personal and Sick time and Paid Holidays, base salary range starting at $100,000 annually and quarterly commissions paid on new business production; salary commensurate with experience.

Position Summary: This role examines, evaluates, and authorizes or recommends approval of customer applications for commercial loans by performing the following duties. Manages assigned portfolio of commercial loan relationships to ensure compliance with credit policies and procedures.

Essential Functions:

• In conjunction with the SVP of Commercial Lending, this position sources, interviews and develops applicants and their request for specified information for loan application.
• Requests applicant financial statements, credit reports, background checks, reference checks, and other information pertinent to loan applicant's evaluation.
• Corresponds with and interviews applicant and others to resolve questions regarding application information.
• Analyzes applicant financial status, credit, and collateral evaluation to determine feasibility of granting loan or submits application to credit analyst for verification and recommendation.
• Compiles loan package and facilitates negotiation of loan structure with applicant, including fees, loan repayment options, and other credit terms.
• Approves loan within specified limits or refers loan to the Manager of MCUCS and the credit committee for approval.
• Ensures loan agreements are complete and accurate according to policy.
• Identifies and analyzes potential loan markets to develop prospects for commercial loans.
• Advises loan manager of external factors that may affect establishment lending policies, such as new or revised legislation and regulations. Recommends and implements appropriate changes to establishment policies and procedures.
• Promotes and cross-sells other establishment products and services as appropriate to customer requirements.
• Provides loan data to support marketing and sales promotion programs.
• Communicates regularly with existing commercial loan members to ensure receipt of timely loan payments and positive depository account activity, as well as the receipt of timely and accurate financial statement reporting and, where appropriate, current collateral reporting. Ensures that regular officer comments are written and placed in the credit files to analyze the current financial performance of borrowers and to affirm the appropriate risk rating for the borrowers. Document any material changes to the condition of the subject collateral.
• Interfaces with federal regulators, examiners, auditors and credit union personnel to ensure compliance with established policies and procedures.
• Maintains a positive image of the credit union at all times. Regularly attends appropriate business networking and charitable functions in order to develop commercial lending prospects. Interfaces effectively with credit union branch personnel to further develop and cross sell membership relationships.

Knowledge and Experience

• 10 years or more experience in the financial industry.
• Possess a working portfolio of commercial members within the Company’s field of membership
• Knowledge of loan regulations.
• Ability to cross-sell.
• Proficient in Microsoft Office.
• Solid verbal communication skills.
• Bachelor’s degree in business preferred.

To perform the job successfully, an individual should demonstrate competencies in the following areas: Achievement Focus, Analytical Skills, Business Acumen, Communications, Consultative Selling, Impact & Influence, Judgment and Quality Management.

Physical Requirements: Normal physical requirements including sitting, walking, bending, carrying, filing and the ability to speak and hear, utilize the PC keyboard, calculator, and typewriter.

Special Requirements: Must maintain relevant working knowledge of lending laws and regulations, along with thorough knowledge of Credit Union loan policy manual, and any other applicable processes.

At MCUCS you will find a respectful and inclusive workplace where everyone is given the opportunity for personal and professional growth. If you share a passion for the community you work in, you just may be a great fit at MCUCS.

We are an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. To express interest in and be considered for a position, please provide your background information and work experience by submitting an online application and resume. www.millburycu.com/employment