What are the responsibilities and job description for the Business Loan Officer – Merck Sharp & Dohme FCU position at CrossState Credit Union Association?
Apr 2, 2025
Chalfont, PA
GRADE LEVEL: V
DEPARTMENT: Business Services / Lending
FLSA: EXEMPT
DATE: March 2025
Reports directly to: Director of Business Services
About Us
Merck Sharp & Dohme Federal Credit Union (MSDFCU) is a full-service financial institution that has been serving its members since 1950. Like other financial institutions, we offer a full range of products and services.
Unlike for-profit banks, we are a not-for-profit Credit Union. Because we are not-for-profit, we are able to provide our members with better rates on savings and loans, and additional products and services. Our Credit Union is staffed by professionals and governed by a volunteer board of directors, whom our members elect.
MSDFCU is one of the largest credit unions in Pennsylvania. Contact us for more information about the Credit Union.
Function: The Business Loan Officer will be responsible for the growth and management of the credit union’s business loan portfolio, focusing on developing and maintaining relationships with business members while ensuring the highest standards of service and compliance.
Duties And Responsibilities
Must meet our service standards as evaluated by our internal and external members:
Position Specifications:
Bachelor’s degree in business, Finance, Economics, or a related field.
Experience
Minimum of 5 years of experience in business lending or business banking, preferably with a credit union or community-focused financial institution.
Skills
Strong understanding of financial analysis, underwriting, and commercial loan products (including commercial real estate and equipment financing).
Proven track record of meeting or exceeding sales and performance goals.
In-depth knowledge of regulatory requirements related to business lending.
Exceptional communication, negotiation, and people skills with team members and perspective clients, as well as our existing business members.
Ability to work collaboratively within a team environment, while maintaining individual work performance. Remain open to adaptive market conditions, as well as the changes in the market conditions.
Strong problem-solving skills and attention to detail.
NMLS (National Mortgage Licensing System) registration may be required depending on loan products offered.
Apply Here
Chalfont, PA
GRADE LEVEL: V
DEPARTMENT: Business Services / Lending
FLSA: EXEMPT
DATE: March 2025
Reports directly to: Director of Business Services
About Us
Merck Sharp & Dohme Federal Credit Union (MSDFCU) is a full-service financial institution that has been serving its members since 1950. Like other financial institutions, we offer a full range of products and services.
Unlike for-profit banks, we are a not-for-profit Credit Union. Because we are not-for-profit, we are able to provide our members with better rates on savings and loans, and additional products and services. Our Credit Union is staffed by professionals and governed by a volunteer board of directors, whom our members elect.
MSDFCU is one of the largest credit unions in Pennsylvania. Contact us for more information about the Credit Union.
Function: The Business Loan Officer will be responsible for the growth and management of the credit union’s business loan portfolio, focusing on developing and maintaining relationships with business members while ensuring the highest standards of service and compliance.
Duties And Responsibilities
Must meet our service standards as evaluated by our internal and external members:
- I will greet you with a prompt, friendly welcome
- I will treat you with courtesy and respect
- I will offer you my undivided attention
- I will take ownership of situations and follow through
- I will provide accurate information and helpful solutions
- I will do all I can to improve your financial life
- I will thank you for your business
- Prospect, originate, and manage new business loan opportunities (including but not limited to business term loans, lines of credit and commercial real estate loans).
- Analyze and assess loan applications, financial statements, and business plans to determine the creditworthiness of applicants.
- Structure and negotiate loan terms and conditions in collaboration with the Credit Union’s leadership.
- Ensure timely and accurate documentation and compliance with all applicable regulatory requirements.
- Develop and maintain strong relationships with new and existing business members.
- Act as the primary point of contact for business loan clients, offering guidance and assistance throughout the loan lifecycle.
- Provide expert advice to businesses on financing options, business growth strategies, and overall financial health.
- Monitor the performance of the business loan portfolio and identify any potential risks or issues that may arise.
- Work closely with the Credit Union’s collections teams to manage loan delinquencies and mitigate potential losses.
- Conduct annual loan reviews on a timely basis. Gather and collect updated tax returns, rent rolls, and personal financial statements, to effectively manage the loan risk.
- Update Risk Rating Scores & Profiles as necessary based upon loan reviews.
- Promote the Credit Union’s business lending products and services to the local business community, utilizing both existing relationships and new business development initiatives.
- Actively participate in local business organizations, chambers of commerce, and networking events to foster brand awareness and generate leads.
- Represent the Credit Union at meetings, conferences, and events to build and maintain a network of potential commercial clients.
- Collaborate with internal departments (e.g., underwriting, compliance, and operations) to ensure seamless loan processing and approval.
- Provide regular updates and reports on business loan portfolio performance to the Director Business Services and Senior Management.
- Participate in periodic strategy meetings to identify growth opportunities and optimize lending strategies.
- Collaborate with our third-party vendor resources to help collectively improve the technology within the Commercial Loan Department, as well as to enhance the business member experience.
- Must possess keen analytical business loan underwriting skills
- Must possess strong leadership
- Must possess strong communication skills
- Models an enterprising team-building leadership style
- Demonstrates strategic planning and critical thinking ability
- Motivates and inspires others to adopt a sales and service culture perspective
- Models exemplary work ethics
- Demonstrates understanding of and commitment to the organization’s business vision, strategic goals and the requirements to achieve them.
Position Specifications:
Bachelor’s degree in business, Finance, Economics, or a related field.
Experience
Minimum of 5 years of experience in business lending or business banking, preferably with a credit union or community-focused financial institution.
Skills
Strong understanding of financial analysis, underwriting, and commercial loan products (including commercial real estate and equipment financing).
Proven track record of meeting or exceeding sales and performance goals.
In-depth knowledge of regulatory requirements related to business lending.
Exceptional communication, negotiation, and people skills with team members and perspective clients, as well as our existing business members.
Ability to work collaboratively within a team environment, while maintaining individual work performance. Remain open to adaptive market conditions, as well as the changes in the market conditions.
Strong problem-solving skills and attention to detail.
NMLS (National Mortgage Licensing System) registration may be required depending on loan products offered.
Apply Here
