Commercial Banking Officer

Description

POSITION SUMMARY

Responsible for developing, growing, and servicing commercial relationships that include loan and deposit accounts with new and existing businesses. Creates sales opportunities and partners with others to cross sell appropriate business products and services and increase membership. Responsible for underwriting, structuring, and closing member commercial accounts including sponsored programs.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Interviews members applying for commercial loans, deposits, and services. Makes decisions within authority and provides recommendations and or referrals when appropriate.

• Performs offsite visits for new and existing members.

• Provides assistance in-person to commercial members in all areas of the member relationship with Magnifi Financial.

• Recommends, educates, and sells Magnifi Financial products and services to members. Expands member relationships through follow-up activities to include outbound calls. Makes referrals to appropriate departments to ensure all member needs are met.

• Tends to work directly and indirectly with medium and moderately complex loans. Makes credit decisions within lending authority and provides recommendations on loans above lending authority.

• Assists members and lending staff applying for government and third party sponsored programs such as SBA, FSA, and other loan programs.

• Reviews financial information with member (concerns, strengths, weaknesses).

• Works with the credit function to complete credit presentations, financial analysis, and risk ratings on existing and prospective credits.

• Develops and maintains a moderately complex commercial deposit, loan and services portfolio that meets organizational guidelines and maximizes return on equity and asset goals, while minimizing the risk to Magnifi Financial.

• Pursues new business relationships by seeking new and existing prospects in the market to ensure sufficient new loan, deposit and service volumes are met.

• Uses the sales process to identify and recommend Magnifi Financial products and services to members based on financial need. Makes referrals to appropriate departments.

• Performs loan closings with members, ensuring all paperwork is properly completed and complies with legal regulations and Magnifi Financial policies.

• Performs collections/negotiations on problem member commercial loans.

• Collaborates with Commercial Banking Officer I and III positions to assist with commercial banking products and services and the possible transfer of accounts when lending account thresholds are achieved.

• Assists in training, mentoring and provides functional guidance to other Commercial Bankers and staff.

• Keeps abreast of rules, regulations and Magnifi Financial policy relating to member commercial loan and deposit accounts.

• Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial. Ensures positive relationships with members, community leaders and businesses.

EDUCATION AND EXPERIENCE

• Bachelor’s degree in Business, Finance or related field, or equivalent experience.

• Eight years of commercial lending experience, or equivalent knowledge and skills gained from related experience.

LICENSES AND CERTIFICATIONS REQUIRED

• Notary Public designation within 3 months of start date in this position desired but not required

• Valid driver’s license and auto insurance with minimum liability limits within Magnifi Financial policy

• Must be bondable

• May work in multiple branches to accommodate member needs

Salary Range: Salaries vary based on factors such as location, internal equity, skills, experience, education, and qualifications for the role.

• Level I Commercial Banking Officer (2 years of related lending or credit experience): $71,404 - $107,107
• Level II Commercial Banking Officer (8 years of commercial lending experience): $89,248 - $133,873

Total compensation package varies based on position and may include bonuses, performance-based incentives, commission, and/or discretionary bonuses.

The Benefits

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 *

Who We Are:

At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere. 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 85,000 members, $2.5 billion in assets, over 400 employees, and over 26 branch locations throughout Minnesota and North Dakota. But what hasn’t changed is our focus on the members and communities we serve.

Magnifi is ranked in the top 20 largest commercial lending credit unions nationwide, and is the largest agriculture lending credit union in Minnesota.

Preferred SBA Lender status and a Farm Service Agency (FSA) Preferred Lender

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights ( notice from the Department of Labor.