Full-Time

Commercial Loan Officer

Hso

Posted on 10/25/2024

Live Oak Bank

Live Oak Bank

501-1,000 employees

Fintech
Financial Services

Compensation Overview

$125k - $175kAnnually

+ Annual Bonuses + Long-term Incentives

Mid

Wilmington, NC, USA

Category
Commercial Banking
Finance & Banking
Required Skills
Financial analysis
Customer Service
Requirements
  • Bachelor’s degree in Business or Finance and 4+ years of relevant experience required, underwriting background preferred.
  • Advanced knowledge of various types of loans, credit analysis, spreading and analyzing financial statements, risk analysis, credit scoring, loan documentation, etc.
  • Strong working knowledge of banking products, services, policies, procedures, and regulations.
  • Strong client product and relationship management skills.
  • Excellent organizational skills with the ability to prioritize and manage workload.
  • Strong credit and underwriting knowledge.
  • Excellent internal and external customer service and relationship management skills.
  • Excellent written and verbal communication skills.
  • Ability to maintain effective working relationships with all levels of bank personnel.
  • Ability to critically analyze new lending opportunities for businesses operating in various industries.
Responsibilities
  • Evaluate, manage, and prescreen HSO deal with overflow opportunities from Sponsor Finance.
  • Review, manage, and negotiate the loan documentation process through closing.
  • Spread and analyze borrower financials; in partnership with Senior Analysts, create the appropriate credit overview materials and present them to Credit for initial approval.
  • Assist the Directors as appropriate during term sheet negotiations.
  • Develops industry expertise in specified market niches and strong relationships with referral sources.
  • Begin external sales activity including attending customer visits and trade shows with senior lending staff.
  • Assist the lending team on all aspects of the lending process.
  • Collect and review initial materials for deal screening.
  • Assist lending with prescreening deals, presentations to credit, and term sheet drafting.
  • Responsible for assisting underwriting with complex credits.
  • Present deals to loan committee and Board of Directors.
  • Responsible for financial analysis and modeling of both new lending opportunities and existing clients.
  • Work closely with the lending and closing departments to coordinate pre-closing activities, loan documentation review and negotiation, as well as other responsibilities throughout the closing process.
  • Maintain current and in-depth knowledge of banking and lending products, policies, procedures, and regulatory requirements, as well as market and industry activities and trends.
  • Work with lending and portfolio management teams to ensure proper monitoring of current loans and credit lines, financial performance updates, and portfolio review.
  • Perform other related duties as assigned or requested.

Company Stage

IPO

Total Funding

$42.6M

Headquarters

Wilmington, Delaware

Founded

2008

Simplify Jobs

Simplify's Take

What believers are saying

  • Embedded finance trend allows Live Oak Bank to integrate services into third-party platforms.
  • AI-powered financial automation in healthcare billing presents partnership opportunities for Live Oak Bank.
  • Growth in asset-backed lending offers new financial product avenues for Live Oak Bank.

What critics are saying

  • Competition from Anatomy Financial's AI solutions may impact Live Oak Bank's healthcare billing market.
  • Warrior Rising's collaboration with Parlay Finance may divert veteran-owned business clients.
  • Expansion of Stiegler EdTech's program may strain Live Oak Bank's resources if returns are low.

What makes Live Oak Bank unique

  • Live Oak Bank's embedded banking partnership enhances customer experience and expands market reach.
  • The bank's focus on veteran entrepreneurship offers tailored financial solutions for veteran-owned businesses.
  • Live Oak Bank's support for STEM and esports programs engages younger demographics and promotes financial literacy.

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