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SBA Loan Officer
| Company | WaFd Bank |
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| Location | Seattle, WA, USA |
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| Salary | $105000 – $125000 |
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| Type | Full-Time |
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| Degrees | Bachelor’s |
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| Experience Level | Mid Level, Senior |
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Requirements
- Bachelor’s Degree or approved equivalent; completion of courses in finance, accounting and real estate analysis or equivalent training in commercial banking.
- Negotiating experience, accuracy, strong organizational skills, attention to detail and success working with clients with diverse banking needs.
- Effective verbal and written communication skills. Able to work independently with little supervision as well as in a team environment.
- Must be proficient with Microsoft Office applications, (primarily WORD, PowerPoint and EXCEL).
- 3-5 years of experience as an SBA LO. Must have good understanding and working knowledge of commercial lending terminology, loan processing, loan documentation and lending procedures.
Responsibilities
- Achieve goals by developing new business relationships focusing on credits needing SBA support, and the client’s depository relationship.
- Maintain referral sources and external business development activities; partner with internal RM’s on business development activities and solicitation of new business prospects that need SBA support; actively involved in instilling and maintaining a positive sales environment through education of the Bank’s SBA 7a products and services; join RM’s on various sales calls to existing and prospective clients; investigates and follows up on significant changes in status of existing customers; meets with customers to discuss needs and outline appropriate Bank SBA 7a services; resolves customer concerns or problems as necessary.
- Establishes, and negotiates where necessary, the terms under which credit will be extended, including the costs, repayment method and schedule and collateral requirements.
- Develops a deep understanding of SBA 7a products, leads the engagement with clients and prospects to uncover opportunities and appropriate SBA solutions to help the clients more efficiently manage cash flow.
- Stays current on all compliance training and adheres to the bank’s commitment to abide by all Know Your Customer expectations and Bank Secrecy Act regulations.
- Seeks to be a trusted SBA advisor for clients and internal RM’s by maintaining current SBA knowledge.
- Develops materials for loan presentations, in partnership with the RM, to Credit Administration and Sr. Loan Committee, where required.
- Participates in community affairs to increase the Bank’s visibility and to enhance new business opportunities.
- Counsels with and assists in the training and development of Relationship Officers, Banking Officers, Loan Coordinators and Credit Analysts regarding various SBA rules and regulations.
- Adhere to bank policies and procedures designed to comply with Federal regulations, including but not limited to the Bank Secrecy Act, USA Patriot Act, and OFAC regulations. other recordkeeping requirements.
- Avoid all real or perceived conflicts of interest and always maintain client privacy and confidentiality.
- Perform other work-related duties and special projects as required and assigned.
Preferred Qualifications
No preferred qualifications provided.
