What are the responsibilities and job description for the SBA Loan Officer I position at Open Bank?
SBA Loan Officer I (“LO”) is responsible for the underwriting, documentation, processing, and maintenance of lending products and loan files.
JOB RESPONSIBILITY AND DUTIES:
1. Under supervision, underwrite SBA guaranteed loan products, primarily 7a and 504 loans following the bank’s loan policy and procedures, SBA guidelines, and general prudent lending practice.
2. Underwrite commercial loan products following the bank’s loan policy and procedures, and general prudent lending practice.
3. Perform credit analysis and spreads on financial information and review application for SBA eligibility determination.
4. Interview applicants for new loans and discuss loan products and requirements; Perform credit analysis and spreads on financial information; and communicate with management on loans.
5. Site visitations to new borrowers and existing borrowers.
6. Prepare & review files for policy, regulatory, and documentation compliance, including equal credit, fair credit reporting, BSA, and other regulatory requirements.
7. Prepare documents and meet with borrowers for proper, accurate, and timely signing of loan documents as well as notarization (if applicable).
8. Follow up with tickler items.
9. Review weekly past due reports to monitor payment performance of each borrower and take appropriate actions for delinquent borrowers.
10. Maintain and monitor existing loan files; obtain & review updated financial information, prepare and analyze reports, as needed.
11. Provide quality service to all clients and potential clients of the Bank, as needed and as required for obtaining necessary documents for other departments of the Bank.
12. Maintains high level of awareness in areas of regulatory compliance, loss prevention, security matters and adherence to Bank’s policies and procedures.
13. Stay informed on all policies, practices, regulations, and laws applicable to your position.
QUALIFICATIONS:
Education and/or experience:
• Bachelor’s degree in Business Administration or related field or equivalent work experience.
• Minimum 1 year of experience in banking and/or lending required.
• Ability to retain broad knowledge of lending tasks.
• Strong analytical skills with a thorough understanding of lending operations and client needs.
• Present a professional image in dealing with customers, interdepartmental, and external representatives.