Business Specialist

Description

BUSINESS SPECIALIST

Department Business Lending

Reports To Business Lending Manager/VP of Lending/Chief Lending Officer

Pay Classification Hourly

FLSA Status Non-Exempt

Position Grade 10

SUMMARY 

To assist the credit union in achieving its mission statement, “PFCU WILL DELIVER FINANCIAL WELL-BEING WITH VALUE, CONVENIENCE AND EXCEPTIONAL SERVICE,” the Member Business Specialist will support and assist the Business Lending Manager in achieving department goals. This position is responsible for providing information on credit union products and services to current and potential business members. Support, model & adhere to PFCU’s Service Standards as outlined in My MARC.

ESSENTIAL FUNCTIONS, DUTIES, & RESPONSIBILITIES 

Business Account Essential Duties and Responsibilities include but are not limited to:

• Primary contact for business account inquiry phone calls. Fosters new and existing business member relationships by identifying their financial needs, delivering solutions to meet those needs, and providing excellent member service.
• Serves as credit union’s subject matter expert for all business account products and services, including but not limited to, commercial online banking, ACH, treasury services, payroll processing, merchant services, and marketplace applications.
• Supports business account growth and product penetration goals by identifying, pursuing, and following up on opportunities presented with new accounts, call lists, referrals, and other prospecting. Promotes and educates members on the use of member business accounts, products, and services. Cross-sells business lending and other credit union products, as appropriate.
• Provides leads to Business Lending Manager to promote department and credit union growth.
• Develops and maintains partnerships with the branches, other lending departments, and all service departments within PFCU, providing expertise in business related services. Communicates and collaborates to provide resources and training on business account products and services, policies and procedures, and technology.  
• Monitors stock of business-related supplies at each branch location.
• Overall maintenance of business account portfolio, including risk rating and account reviews.
• Offers suggestions for competitive products and services improvements, and policy and procedure efficiencies, based on feedback provided by members and branch staff. 

Business Lending Essential Duties and Responsibilities include but are not limited to:

• Handles incoming phone calls and outbound calls for item follow ups. Capable of discussing loan options and alternatives, terms, pricing, and costs. Responsible for communicating back and forth with businesses to keep them informed throughout the loan process.
• Gathers background information on members applying for business loans by obtaining completed application, personal financial statements, tax returns, and credit reports.
• Enters loan application and cash flow information to calculate debt service ratio. Evaluates credit and financial status and prepares loan analysis write-up to present to the business loan committee for underwriting decision.
• Attends business loan committee meetings to present new loan requests, provide updates on pending loan applications, and present annual reviews for approval. Organizes minutes and monthly reports.
• Prepares loans to be sent to Commercial Alliance for analysis and maintains consistent contact to receive recommendation in a timely manner.
• Orders and reviews commercial appraisal and evaluation reports, environmental due diligence, surveys, title insurance, and flood requests. Collects any up-front fees.
• Coordinates closing dates, prepares/reviews closing packages, and executes closings. Files mortgages and assignments of rents for proper lien placement and files releases when final payment is made.
• Builds and funds new loans in core system. Performs file maintenance to ensure proper reporting and system functionality.
• Overall maintenance of business loan portfolio including quarterly updates to MARS (Management Action Review) and completion of MBL annual reviews. Sends letters and follows up with business members regarding insurance, annual financials, balloon modifications, and line of credit renewals. Monitors, tracks, and rewrites balloons and line of credit renewals, including verifying that the business still qualifies under current loan policies. Scans and files.
• Provides leads to Business Lending Manager to promote department and credit union growth. Cross-sells lending and other credit union products as appropriate.
• Communicates and collaborates with other departments regarding business lending policies, procedures, and business member support.
• Ensures that sound analysis and lending procedures are followed. Acts in compliance with the PFCU Commercial Lending Policy at all times.
• Seeks opportunities to develop or enhance through training, conferences, reading, etc. Willingly participates in and attend educational functions and meetings, as requested by management. 
• Performs other duties as assigned.

REGULATORY COMPLIANCE 

Follows regulatory and policy compliance requirements which would include those efforts in compliance with Bank Secrecy Act (BSA), Office of Foreign Asset Control (OFAC), Red Flag and Anti-Money Laundering (AML) Regulations, and other compliance related policies. This position may be subject to SAFE Act Registration Requirements. Pursuant to the SAFE Act requirements, all loan officers engaged in residential loan mortgage originations (as defined by the SAFE Act) must register with the federal registry system and maintain a status in good standing under the SAFE Act requirements. If at any time the credit union determines that your position requires SAFE Act registration, you will be required to register and to submit to the required SAFE Act background check and registration process. Failure to register successfully or to maintain a status in good standing under the SAFE Act will affect your eligibility for continued employment and may result in your immediate termination.

CONFIDENTIALITY 

This position requires maintaining confidentiality with regard to non-public information about our members, employees and the Credit Union. We must protect the confidentiality of member information. Financial transactions are confidential and private. With account access, employees are to handle member information responsibly and confidentially.

SECURITY 

To ensure the safety and security of all employees, employees must follow all security policies and procedures at all times. Security is the responsibility of all employees.

QUALIFICATION REQUIREMENTS 

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education Requirements

High School Graduate or equivalent

Work Experience

A minimum of three (3) years lending or member service experience is required, with business loan underwriting experience preferred. A two (2) year degree in a related field or five years credit union experience is preferred.

Language Skills

Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or government regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, employees, clients, members, and the public.

Mathematical Skills

Ability to add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent.

Reasoning Ability

Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form. Must have the capability to deal with problems involving concrete variables in standardized and non-standardized situations.

Other Skills & Abilities

• Excellent knowledge of the credit union’s core system.
• Excellent working knowledge of the forms and documentation used by the credit union.
• Strong knowledge of credit union products and services.
• Excellent understanding of the Credit Union departments and procedures.
• Excellent knowledge and proficient in Microsoft Office applications and Excel.
• Punctual, self-motivated, confident and accurate.
• Excellent communication and interpersonal skills both written and verbal.
• Great attention to detail
• Able to stay calm under pressure.
• Professional attitude; supportive management.
• Neat and professional in appearance and dress.
• Ability to create good word of mouth; proven ability to effectively refer products and services. Excellent math skills.
• Ability to operate related computer applications and other business equipment including adding machine, typewriter, copy machine, coin and money counting machines, computer, and telephone.
• Good typing skills.

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 stand; use hands to finger, handle, and feel objects, tools, or controls; reach with hands and arms; and talk or hear. The employee frequently is required to walk and stand. The employee is occasionally required to stoop, kneel, crouch, or crawl. The employee must occasionally lift and/or move up to 50 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus.

Work Environment

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. The noise level in work environment is usually moderate. While performing the duties of this job, the employee occasionally works near moving mechanical parts, and is occasionally exposed to risk of electrical shock.

Mental Demands

The employee is frequently required to use alertness, precision, resourcefulness, problem solving, numeric calculations, persuasiveness, auditory perception, memory, creativity, judgment, writing ability, reading ability, reasoning, imagination, patience, visual perception, comparing, and analyzing.

INTENT & FUNCTIONS OF POSITION DESCRIPTIONS 

Job descriptions assist organizations in ensuring that the hiring process is fairly administered and that qualified employees are selected. They are also essential to an effective appraisal system and related promotion, transfer, layoff or termination decisions. All descriptions have been reviewed to ensure that only essential functions and basic duties have been included. Peripheral tasks, only incidentally related to each position, have been excluded. Requirements, skills, and abilities included have been determined to be the minimal standards required to successfully perform the positions. In no instance, however, should the duties, responsibilities, and requirements delineated be interpreted as all-inclusive. Additional functions and requirements may be assigned by supervisors as deemed appropriate. In accordance with the Americans with Disabilities Act (ADA), it is possible that requirements may be modified to reasonably accommodate disabled individuals. However, no accommodations will be made which may pose serious health or safety risks to the employee or others or which pose an undue hardship on the Credit Union. Job descriptions are not intended and do not create employment contracts. The Credit Union maintains its status as an at-will employer. Employees can be terminated for any reason not prohibited by law.

PFCU is an equal opportunity employer