What are the responsibilities and job description for the SBA Credit Officer (Hybrid within State of MN) position at Magnifi Financial?
Job Details
Description
POSITION SUMMARY
Administers the SBA credit administration function through policy compliance and multi-loan policy SBA credit underwriting for the clients of Ultum Group, including Magnifi Financial.
Manages the activities, processes, and procedures of the SBA loan program.
Essential Duties And Responsibilities
We are committed to investing in our team! Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):
At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere. Magnifi Financial has received the special recognition of being named a Top 200 Workplace, voted on by our employees, for the 9th year in a row. As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth.
Magnifi Financial has grown to more than 90,000 members, over $2 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.
Description
POSITION SUMMARY
Administers the SBA credit administration function through policy compliance and multi-loan policy SBA credit underwriting for the clients of Ultum Group, including Magnifi Financial.
Manages the activities, processes, and procedures of the SBA loan program.
Essential Duties And Responsibilities
- Responsible for the in-depth understanding of the SBA loan program, attends program trainings from industry professionals, maintains internal operating procedures, and coordinates internal training on policy and procedural changes.
- Advises the Credit Analysts with eligibility and underwriting requirements of the SBA programs.
- Manages underwriting to multiple loan policies for client credit unions, maintains processes and procedures internally, and makes recommendations on how to create efficiencies in the process.
- Manages client credit union policy review and recommendations during the onboarding process.
- Analyzes financial, credit and operational risks with business partners and members of the SBA program.
- Determines solutions that mitigate or avoid risks with the SBA loan portfolio.
- Ensures SBA loan portfolio and polices are reviewed and modified as necessary.
- Participates in sales and onboarding meetings with potential clients for Ultum Group.
- Exercises credit approval authority on SBA guaranteed loans.
- Advises SBA staff with review of SBA documentation received, program origination eligibility, file documentation requirements, and draws of SBA loans.
- Provides final review of SBA credit memos for Magnifi and prior to delivery to client for Ultum Group.
- Provides backup to Commercial Doc Prep for final pre-close review of all SBA loan packages for Magnifi and processed through Ultum Group.
- Responsible for communicating and explaining changes of the SBA Standard Operating Procedures (SOP 50 10 6) to Magnifi staff and clients of Ultum Group and ensures compliance with all SBA regulatory changes.
- Serves as a liaison between the loan production, credit, operations, and construction teams through the process of originating and servicing SBA loans.
- Maintains a high level of knowledge of the SBA lending program including documentation, software updates, eligibility, and submission requirements. Updates procedures and guidelines accordingly.
- Selects, oversees, develops, trains, and manages (directly and indirectly) the performance and compensation of the SBA Credit Analyst staff. Assigns, directs, and coordinates work of employees. Approves hiring decisions for the department and delivers performance reviews and compensation recommendations for staff. Provides input on other HR related issues. Responsible for both individual and department results that are achieved through the successful management of staff. Maintains responsibility for adequate staffing.
- Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial and Ultum Group.
- Bachelor’s degree in a business-related field plus ten years’ experience in commercial lending including government guaranteed lending and two years progressively responsible supervisor/management experience; or equivalent knowledge and skills gained through a minimum of twelve years related work experience.
We are committed to investing in our team! Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):
- Opportunities for Training and Development *
- Leadership Development *
- Job Level Advancement (ability to move up in your position through training and development) *
- Tuition Reimbursement *
- 32 Hours Volunteer Paid Time Off *
- Paid Time Off – Begins accruing upon date of hire for a total of 4 weeks per year for FT; prorated for PT *
- Medical
- Dental
- Vision
- Employer paid Life Insurance/AD&D
- Employer paid Disability Insurance
- Retirement Plan - Employer match up to 4%, eligible for annual profit sharing *
- Paid Parental Leave
- Bonus/Incentive Program
- Employee Engagement/Health and Wellness Programs *
At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere. Magnifi Financial has received the special recognition of being named a Top 200 Workplace, voted on by our employees, for the 9th year in a row. As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth.
Magnifi Financial has grown to more than 90,000 members, over $2 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.