Business Loan Officer
North Jersey Federal Credit Union has an opening for a Business Loan Officer.
Responsible for approving, rejecting, and processing business loan applications; verifying applications for completeness; conducting credit investigations; determining value and status of collateral (if any); establishing a signature limit (if applicable); and documenting business loans as per company policy and procedures.
Facilitate business lending by seeking potential clients. Effectively explain business products and services. Conduct financial analysis of services designed to maximize profits and broaden services. Assist members with any loan-related questions and concerns and take applications for commercial loans. Review member financial condition and assesses the member’s ability to re-pay the loan. Make underwriting recommendations. Complete or direct completion of all loan documents and ensures the loan closes. Responsible for accepting, rejecting, and processing business loan applications; verifying applications for completeness; conducting credit investigations; determining value and status of collateral (if any); establishing a signature limit (if applicable); and documenting business loans as per company policy and procedures. Direct daily business loan operations. May delegate portion of responsibilities when necessary, but may not delegate overall responsibility for results nor any portion of accountability.
Assist with legal repossession of collateral securing a delinquent business loan; maintain this collateral while in the company’s possession; and negotiate the sale of this collateral. Function as the company’s representative while working with attorneys, small claims court, auto repossession companies, collection agencies, bankruptcy court, and members. Assist in collection of past due loans, including modification requests of existing consumer loans, home equity, first mortgage and business loans.
Remain current on changes within the legal, regulatory, economic, competitive, and technology environments that may affect the operations function. Implement operations procedures that are in compliance with applicable federal and state regulations. Establish, maintain, and monitor policies, procedures, and internal controls.
The above listing is not exhaustive and may be supplemented as needed.
Knowledge and Skills:
Two to five years of similar or related experience, including time spent in preparatory positions.
Experience with Federal Housing Authority (FHA), Veterans Affairs (VA), and Federal National Mortgage (Fannie Mae) reverse mortgage loans.
A Bachelor’s degree or work equivalent of 10+ years required. Incumbents are required to maintain their registration active, and current, with the National Mortgage Licensing System throughout their employment.
We offer a great benefit package including Medical, Dental, Rx, Vision, Life Insurance and Retirement Plan.
Qualified candidates should send resume and cover letter with salary requirements to HR Department North Jersey FCU, 711 Union Blvd Totowa, NJ 07512 or email: [email protected].