JOB TITLE: Loan Specialist
REPORTS TO: Finance Director
STATUS: Full Time, Exempt
DESCRIPTION OF WORK
The Loan Specialist will work to administer and promote the organization’s Revolving Loan Fund (RLF) program as a gap financer in a hybrid work environment. The position will focus on marketing the program to local bankers, economic development representatives, prospective clients, and to that of other financing partners in the area. This individual will be responsible for the underwriting process of new loans, organizing loan committee meetings, preparing closing documents, and the ongoing service of existing loans within the Organization’s portfolio. This position will require a combination of networking, customer service, and technical skills.
POSITION OVERVIEW
Promote and manage the RLF programs of Region Nine Development Commission (RNDC). This is a rewarding position with the ability to create a positive impact within our nine-county area.
ESSENTIAL FUNCTIONS OF THE POSITION
- Manage RNDC’s loan portfolio to ensure payments are being processed and uploaded into the loan software system.
- Actively market the RNDC’s loan program by meeting with local banks, community leaders, prospective clients, and other financial institutions.
- Assist applicants from pre-application through closing of the loan.
- Prepare loan closing documents via templates for review by local law firm.
- Identify and implement loan process improvements including marketing.
- Find and adopt innovative loan pools and other business financing capital sources that give RNDC programs competitive advantage.
- Analyze the performance of individual loan customers and propose corrective actions for problem accounts.
- Research, and where appropriate, implement new lending programs and financing tools that meet the needs of RNDC clients and communities.
- Work collaboratively with other team members to leverage economic development experience and tools across programs.
- Conduct regular evaluations and use the results to continuously improve lending programs.
KNOWLEDGE, SKILLS AND ABILITIES
- Strong interpersonal communication and group presentation skills.
- Ability to work in both independent and group settings.
- Ability to work effectively with a broad range of people and styles.
- Ability to establish and maintain effective working relationships with others.
- Knowledge of personal computers and software, including the Microsoft Office suite.
- Ability to not only read, but also interpret and analyze financial statements, business plans, credit reports and other information pertinent to loan applications and approvals.
- Considerable ability to organize and facilitate meetings.
- Considerable ability to organize work, set priorities, follow up on assignments and meet critical deadlines with minimal supervision; especially in times when the workload is heavy.
- Ability to maintain and safeguard confidential data in accordance with appropriate state and federal regulations.
- Considerable ability to write effectively and follow the Plain Language Initiative.
- Ability to operate a motor vehicle and have a valid Minnesota’s driver license.
- Must be able to write and speak fluently in English.
WORKING CONDITIONS AND ENVIRONMENT
The position is that of a hybrid work environment with the ability to work remotely two to three days per week. The individual must be able to perform reliable work in both independent and team project settings, mainly using a computer to complete projects. Typical hours are 8:00-4:30 p.m. with the ability to flex hours as needed throughout the work week. The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
RNDC is a small office of approximately 11 professional staff in a flexible, family-friendly environment.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this Job, the employee is regularly required to sit and talk or hear. The employee is frequently required to use hands to finger, handle, or feel and reach with hands and arms. The employee is occasionally required to stand and walk. The employee must regularly lift and /or move up to 10 pounds, frequently lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision and distance vision.
BENEFITS PACKAGE
Employee benefits include fully paid single health insurance or a generous family plan contribution, health savings account with employer contributions, pre-tax flexible spending account, life insurance, PERA retirement benefit, paid holidays and vacation time, sick leave, and additional voluntary benefits available.
PREFERRED QUALIFICATIONS
A Bachelor’s Degree in Business Administration, Finance, Banking, Accounting, or a closely related field, plus 5 years of related experience. Relevant experience will be considered in the absence of any previously listed degrees. Must possess and maintain a valid driver’s license. Experience as a commercial loan officer preferred.
SALARY RANGE
$65,000 – $80,000 yr. Depending on qualifications and experience.
HOW TO APPLY
- Applications will be accepted until the position is filled.
- Send cover letter, addressed to Executive Director Nicole Griensewic, and resume to 3 Civic Center Plaza, Suite 310, Mankato, MN. Resumes will not be accepted without a cover letter and completed online application. Click the “Apply Now” button below to complete an online application.
- Please contact Ky Battern, Finance Director, at 507-389-8878 with questions.
This job description is not intended to be all-inclusive. The employee will perform additional reasonably related job duties as assigned.
Region Nine Development Commission reserves the right to revise or change job duties as the need arises. This job description does not constitute a written or implied contract of employment.
Region Nine Development Commission is an EOE/ADA Employer.
