Business Development Associate

 Business Development Associate Opportunity at Stanford Federal Credit Union! 

We’re on a mission to improve financial lives! If you’re a high-energy, compassionate, and collaborative individual yearning to make a difference, we need you on our team! Members really do come first at Stanford FCU because we’re non-profit and owned by our members. Our members work for Stanford University and some of the most innovative companies in Silicon Valley—and we provide them with the most generous financial benefits in our industry. 

Stanford FCU is a $4 billion company with a global reach—88,000 members in 90 countries and growing! Come grow with us and see what it’s like to work for a Bay Area Top Workplace. As our CEO says, “we work hard, and we play hard”, and we need your help to improve even more financial lives!

The Business Development Associate (BDA) is responsible to support all loan production goals of the credit union by processing originated loans through application to closing and assisting in the loan qualification and prescreen process.  This includes gathering and completing the initial review of required documentation and underwriting packages.  The BDA must effectively communicate verbally and through written communication with mortgage brokers, loan processors, and borrowers throughout the loan process. Under the supervision of the Director Business Development the BDA will be responsible for managing existing participation relationships and to help grow the participation network by developing new relationships. The position requires the BDA to assist the Business Development Team in sourcing loans for purchase to meet the credit unions balance sheet goals and sell loans to ensure the credit union does not exceed regulatory cap requirements for member business loans. Must have a working knowledge of industry related guidelines, including HMDA and Regulation B.

Who YOU are:  

• Bachelor’s degree, plus 1-2 years of commercial lending experience or combination of education & work experience. 
• Possess versatility and flexibility to successfully serve as a backup to other positions.
• Effectively cold call potential clients and financial institutions.
• Knowledge with Microsoft Office programs, including Word, Excel, and PowerPoint.
• Effective organization skills and attention to detail.
• Present a positive professional image, both virtually and in person.
• Strong communication skills both verbal and written.
• Assist in maintaining and updating operational procedures.
• Strong business writing skills.

What YOU’LL do:

• Manage loan pipeline by proactively communicating with internal and external parties to gather loan packages for underwriting and processing for loan documentation and closing.  Additionally, collect all prior to conditions for loan documentation and closing.
• Review all documentation collected for accuracy and compliance.
• Manage the Business Development Teams commercial loan pipeline from qualification to closing, including managing critical due dates to ensure loan closings within Service Loan Agreement (SLA) time frames.
•  Respond to loan inquiries from the branches, Member Care Team, Q2 and other departments.
• Manage and expand the commercial loan participation program, by actively identifying new financial institutions to purchase and sell loans, as well as ensure due diligence requirements are met.
• Assist collecting data for prescreens by communicating with brokers, loan processors, and borrowers. 
• Set up loans on LOS System, including borrower/guarantor structure, loan terms and collateral data. Maintain a working knowledge and comprehension of LOS platform.
• Understand and stay abreast of changes to SFCU Policy and Procedures, and NCUA Regulations.

Some of our benefits for YOU:   

• 100% paid employee medical, dental, vision, life/AD&D and short-term disability insurance for the employee; 50% paid for dependents.
• Quarterly incentives up to 10% of your salary (based on position)
• Employer 401(k) matching up to 5% plus additional annual discretionary contributions
• Education reimbursement up to $5,200/year
• Up to $500 per year in health/fitness benefits 
• Employee recognition program with cash incentives 
• Commute benefits up to $900 per year. 
• Paid Sick Time accrues at two weeks per year.
• Paid Vacation Time accrues at three weeks per year.
• Paid Federal banking holidays (approximately 10 per year)
• Ongoing training and education, seminars, and conferences
• Loan rate discounts on some products (vehicle, mortgage and HELOC loans)
• Waived fees and deposit bonuses on Stanford FCU accounts
• Flex health/transit plan availability 
• Employee Assistance Program with free benefits like counseling, help finding legal assistance and day care resources.

Stanford Federal Credit Union provides pay ranges representing its good faith estimate of what the Credit Union reasonably expects to pay for a position. The pay offered to a selected candidate will be determined based on factors such as (but not limited to) the scope and responsibilities of the position, the qualifications of the selected candidate, departmental budget availability, internal equity, geographic location, and external market pay for comparable jobs.

If you are ready for this awesome opportunity (or know somebody who is) please contact us today! 

Please Note: SFCU does not provide work visa sponsorship or accept visa transfers for any positions. Applicants that require work visa sponsorship or transfer will not be considered for employment. SFCU does not provide any relocation benefits for any positions.   

Stanford Federal Credit Union is committed to equal employment opportunities, and a workplace that embraces diversity and inclusion for qualified individuals of all backgrounds.

Salary : $500 - $5,200