The Federal Savings Bank, a national bank specializing in mortgage lending, is hiring an experienced Commercial Credit Operations Specialist to join our team based in our Chicago, IL corporate headquarters.
This position is based in the Logan Square neighborhood in Chicago, IL and requires the ability to work a hybrid schedule (3 days/week in office). Qualified candidates should reside a commutable distance at the time of application.
What We Offer:
PTO that increases with length of employmentCompany culture that fosters work/life balanceHealth, Dental, and Vision insurance plansFSA and HSA plan optionsCompany-paid life insurance401k with partial matchIn-house virtual training opportunities to broaden your industry knowledgeCareer advancementBig bank capability, small-bank feelDuties and Responsibilities:
Commercial Loan (70% Underwriting/20% Credit Analysis)
Provide insight to the Sales team on Commercial loan products and requirementsProvide guidance on loan structuring and approval process to Mortgage BankersLead initiatives to implement process, procedure, and technology solutions to improve workflow, tracking and adherence to compliance.Underwrite Commercial loans including preparation of CAF/CAM and present to Credit Committee (consisting of Chairman of the Board, President, and outside Director)Collaborate with the closing team on approved loans to ensure terms are metRequest and track financial statementsPrepare annual reviews using financial statementsAssist in auditsPrepare assigned portions of monthly Credit BookComplete BSA Loan Due Diligence Form in EncompassReview loans boarded to Cleartouch and alert to any errors.Delinquency Workout (10%)
Track all Commercial loans 60+ days delinquent, contact borrower, and collect past due amountsPrepare workout plan (foreclosure, modification, extension, etc.)Prepare Watchlist report as neededPrepare Default letter in conjunction with attorneyManage foreclosure/bankruptcy process with the goal of resolving the default as quickly as possibleObtain updated appraisalsArrange listing of property with sales agent and monitor for appropriate market awarenessProvide regular updates to management on progress or issues that ariseDiscuss activity in the Monthly Watchlist Report with managementRequirements:Bachelor's degree in Accounting or Finance preferred2-3 years' experience related experience in commercial credit operationsFiserv Cleartouch software experience strongly preferredEncompass LOS experience strongly preferredProficiency in Microsoft Office, particularly in ExcelDemonstrate professionalism when responding to deadlines and matters of urgencyCreative problem-solverAutonomous and internally motivatedMust be resourceful in utilizing tools and information availableAbility to thrive in minutiae/highly attentive to detailsCommunicate with ease and professionalism with high levels of leadershipFavorable credit and background requiredThe Federal Savings Bank is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.
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