What are the responsibilities and job description for the Development Loan Officer - supporting U.S. Territory of American Samoa position at Development Capital Networks?
Unlock an Exciting Opportunity as a Development Loan Officer with Development Capital Networks!
Are you passionate about empowering small businesses and making a meaningful impact? Join our dynamic team, where we provide the tools and resources to help businesses thrive.
Why Join Us?
Meaningful Work - Be part of a high-performance, forward-thinking team that values integrity, problem-solving, and impact-driven lending.
Flexible Location - Ideally based in stunning American Samoa, but we're also open to candidates in Hawai'i, or other locations in a similar time zone with access to the Territory.
Competitive Pay - Commensurate with experience, ensuring your skills and contributions are well-rewarded.
Comprehensive Benefits - Including Medical, Dental, Vision, Life Insurance, Health Savings Account, Paid Time Off, and a Simple IRA.
What your day-to-day will look like
You will play a vital role in the U.S. Territory of American Samoa in implementing programs funded by the U.S. Treasury's State Small Business Credit Initiative (SSBCI), aimed at leveraging private capital and closing the collateral gap for small businesses.
In this position, you will engage with lenders, developing relationships to generate applications that provide critical credit support to small businesses. Your responsibilities will encompass reviewing project eligibility, conducting thorough credit analysis, ensuring compliance with SSBCI criteria, and managing post-loan relationships for optimal outcomes. As an active participant in the local ecosystem, you will represent DCN at events, present, educate, and be responsible for building and maintaining relationships with various stakeholder groups.
Would you be a great Development Loan Officer?
Candidates must possess a solid educational foundation, including a Bachelor's degree and three to five years of experience in small business commercial or industrial lending.
Practical problem-solving aptitude and the ability to navigate varied lending products and scenarios, along with a familiarity with federal regulations governing business lending, are necessary. Proficiency in analyzing business financial statements, including debt service coverage ratios and collateral metrics, is crucial for effective decision-making. Candidates should exhibit strong analytical skills, with the ability to interpret complex business documents and write clear reports and correspondence. Organization and communication are key in this role.
Experience with rural and Pacific Islander communities is highly valued.
Knowledge and skills required for the position are: Actively engage with local lenders through office visits and virtual conversations to market the credit programs, answer questions, and build relationships.
- Discuss the viability and eligibility of specific transactions with lenders, in coordination with DCN's senior credit experts.
- Process each credit support transaction, including collecting all necessary and relevant documentation, conducting credit analysis, recommending structure and credit changes as needed to mitigate borrower, lender, and program risk, ensuring compliance with SSBCI eligibility criteria, and obtaining required approvals.
- Prepare reports on past and upcoming transactions for quarterly meetings of the American Samoa Innovation Authority Board of Directors and reports to the US Treasury or other funding agencies of the assigned program.
- Ensure accurate and confidential recordkeeping of loan records and reports.
- Review loan payments and engage with lenders on workout or collection strategies, if needed.
- Become fluent with all matters, issues, policies, and procedures concerning the programs that fund our work, including the State Small Business Credit Initiative (SSBCI).
- Represent DCN and the capital funds it manages as a tradeshow participant at local and territorial events.
- Maintain proper and complete reports, statistics, and contacts of programs in the Company's electronic database.
- Other duties as assigned for the general well-being of the credit support programs and affiliated operations as appropriate.
Ready to join our team?
If you think this role aligns with your passion and skills, great! We're excited to meet you!
