Business and Construction Loan Specialist

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Sound is looking for…

A Business & Construction Loan Specialist to join our team! As the Business & Construction Loan Specialist, you will provide administrative support to the Business Lending department. In this role you will monitor business loan relationships, including construction loans, assist with member service needs, obtain and/or create applicable loan documentation, ensure proper collateral perfection, and manage up to date relationship tracking. Additionally, you will ensure compliance with Credit Union policies and procedures. As the Business & Construction Loan Specialist, you will contribute to the success of the Credit Union by providing superior service according to Sound Credit Union's brand expectations.

At Sound you will experience…

• Our purpose which is “ to stand with you through all waves of life ”. Every day, our employees help us to live this purpose. We believe in empowering our employees to do the right thing.
• A diverse workforce with an inclusive and supportive environment.
• Besides competitive pay, we offer career growth, and we hold a benefits package that's consistent with our purpose, personalities, and values.
• Teams that are living out the credit union philosophy of “people helping people”.
• Fellow employees who are dependable, genuine, inclusive, and resourceful.
• Leaders of Sound Credit Union who embrace our Brand Purpose. At Sound, we recognize our actions strongly impact our Brand-led culture. Therefore, we commit to consistently serve as Brand Advocates by modeling desired behaviors to inspire others through being S upportive, O pen, U nified, i N clusive, and by D oing the right thing.
• Learn more about our company culture here!

As a Business & Construction Loan Specialist you will…

• Prepare, coordinate, review, conventional, SBA and construction loan documents as part of the loan closing process. Prepare loan documents for accuracy, completeness, and adherence to approval conditions. Ensure all loan documents adhere to loan approval and comply with all regulations and policy/procedures. Provide recommendations/feedback for language to include in loan documents when appropriate.
• Work with Borrower and Business Loan Officer to build construction budget to balance with loan amounts including equity injection of all types ready for loan monitoring software.
• Initiate and schedule initial meeting with Borrower to establish relationship and to explain SCU construction process, draws, time frames, software and draw funding.
• Order and review constructability analysis (plans against budget, builder vetting, builder/borrower contract vetting etc.
• Recognize that construction loans, particularly SBA require additional documents and insurance requirements, therefore ensure construction loans are in compliance with government and Sound Policies. Review and monitor construction draw and budgets using the appropriate software and prepare draw for approval, including but not limited to, reviewing line items draw against budget, reviewing inspections for actual work performed, ordering, and reviewing date down endorsements, checking for all appropriate lien waivers, and fund loans according to Business Loan Agreement. Monitor construction draws and ensure loans are balanced between each appropriate software. Reconcile construction draw requests to guarantee accuracy.
• Ensure all construction loan conditions have been met prior to conversion to term financing. This includes, but is not limited to, obtaining the Certificate of Occupancy, final inspections, the appropriate valuations, and other conditions as applicable.
• Serve as the primary support contact for Business Members, providing exceptional member service as well as administrative and internal/external office communication support for the Business Lending department.
• Once the loan has been closed and funded, prepare all loans for 3rd party audit. Track, monitor and resolve 3rd party audit exceptions on the appropriate spreadsheet.
• Assist with credit approval processes as needed (i.e., managing/tracking internal loan codes, approval documentation, deposit balances, etc.).
• Manage and monitor daily/weekly/monthly loan tracking, ticklers, and other applicable reporting.
• Set up and maintain the physical and electronic files, pre and post loan closing. Scan all loan documents and applicable supporting documents to Synergy.
• Build positive professional relationships with title companies, attorneys, or other financial/legal resources to obtain correct and accurate documents to fully protect Sound Credit Union's interest and members.
• Process loan payoffs, payments, taxes, uniform commercial codes, documentation, disbursements of loan proceeds, and complete necessary reporting. Research and resolve loan issues and member concerns. Review title insurance commitments and exceptions on commercial real estate loans, providing feedback on errors or omissions. Ensure collateral is properly secured in the proper lien position (via UCC, Deed of Trust, Title, etc.)
• Provide support to the Business Lending team with loan servicing activities, if needed. This would include, but not be limited to, generating loan documents, booking loans, loan funding, auditing loans, preparing closing escrow instructions, maintaining loan timeframes and data input/reconciliation of related GL accounts. Ensure all outstanding items or policy exceptions are satisfied prior to loan closing. When appropriate, may be required to conduct loan signing with business members on behalf of the Business Loan Officer.
• Ensure procedures, regulations, and guidelines are followed consistently, efficiently, and are well documented. Maintain a high level of regulatory loan compliance knowledge. Work closely with internal Risk Management to ensure overall compliance with the Credit Union's policies and practices, and regulatory requirements to achieve satisfactory rating from internal and external auditors.

Our ideal candidate will bring to the team…

• Three years of experience in business/commercial loan support, or related position.
• Experience within a financial institution preferred.
• High School Diploma or equivalent required.
• Bachelor's degree in business administration or related field preferred.

In addition:

• Must be bondable
• Employer sponsorship to secure or maintain employment authorization not available

As a team member of Sound, you will receive…

• These benefits in support of a true work/life balance:
  • Full medical, dental, vision, and disability for the employee [yourself] with premiums paid by Sound
  • 401(k) with 4% match - Plus discretionary profit share of up to 5% of annual salary
  • Three weeks Paid Time Off (PTO) accrued annually
  • 5 employer paid work/life balance days
  • 10 paid federal holidays every year
  • Employee assistance program for wellness counseling
  • Gym/lifestyle reimbursement
  • Free and/or discounted banking services with Sound
  • Employee Charitable Matching & Volunteer Program
  • Employee bonus program
  • Tuition assistance
  • ORCA pass
• Incentives available for multilingual speakers

Your compensation:

At Sound Credit Union we believe in paying our employees a fair and living wage. Individual offers are made dependent upon a candidate's prior experience and education level as it pertains to their role. This strategy promotes a talented and empowering work environment that we hope you will be a part of! Our pay ranges are built to allow for candidates with various levels of skill and experience to be considered, as well as for room for growth and tenure achieved in a role over time. Typical new hire salary offers fall within the minimum to midpoint of a pay range for many candidates, which allows us to offer merit-based salary increases.

Minimum: $28.85 Midpoint: $36.06 Maximum: $43.27

Your hours:

A hybrid schedule Monday - Friday: 8 am - 5 pm

In your role you will have the ability to combine in-person and remote work.

About Sound Credit Union…

Sound Credit Union (Sound) was founded in 1940 and is one of Washington State's largest credit unions. We have 26 full-service branches located throughout the Puget Sound region. At Sound, we pride ourselves on making connections with our members, employees, and community. We'd love to share more about why Sound is somewhere you want to be, apply now, and visit our website at:

The future is in our hands…

Sound Credit Union is proud to be an Equal Opportunity and Affirmative Action employer that is committed to diversity, equity, and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity or expression, national origin, veteran status, disability, age or any other protected status.

People of color, women, LGBTQIA+, veterans and persons with disabilities are encouraged to apply!