Credit Officer

POSITION SUMMARY

Administers the credit administration function of the commercial lending group. Responsible for evaluating and approving credit applications, monitoring credit portfolios, and ensuring compliance with the organization's lending policies. The role involves assessing the creditworthiness of applicants, managing risks, and maintaining healthy customer relationships to support the organization's financial objectives.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Responsible for the in-depth understanding of the commercial loan program, attends program trainings from industry professionals, maintains internal operating procedures, and coordinates internal training on policy and procedural changes.

• Manages the activities, processes, and procedures of the credit analysis group. Advises the Credit Analysts with policy and underwriting requirements.

• Analyzes financial, credit and operational risks with business partners.

• Ensures compliance and provides oversight on new and existing policies and procedures. Formulates and recommends policy and procedure changes as they relate to Credit. Works with other department management to recommend policies and procedures which may have an organization-wide affect.

• Assists in structuring commercial, agricultural and consumer loan transactions.

• Works closely with senior management and lenders to identify and mitigate risks in loan portfolios.

• Works in collaboration with Magnifi Financial management and staff to meet the goals and objectives of Magnifi. Ensures cooperation amongst cross-functional areas.

• Exercises credit approval authority.

• Provides final review of credit memos for Magnifi.

• Provides backup to Commercial Doc Prep for final pre-close review of all loan packages.

• Serves as a liaison between the loan production, credit, operations, and construction teams through the process of originating and servicing commercial loans.

• Maintains a high level of knowledge of the commercial lending program including documentation, software updates, eligibility, and submission requirements. Updates procedures and guidelines accordingly.

• Provides input to yearly budgeting and monthly rolling forecast for the Credit department to create alignment with Magnifi Financial strategies and objectives.

• Supports the strategic planning process through tactical departmental planning.

• Selects, oversees, develops, trains, and manages (directly and indirectly) the performance and compensation of the Credit Analyst staff. Assigns, directs, and coordinates work of employees. Approves hiring decisions for the department and delivers performance reviews and compensation recommendations for staff. Provides input on other HR related issues. Responsible for both individual and department results that are achieved through the successful management of staff. Maintains responsibility for adequate staffing.

• Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial.

EDUCATION AND EXPERIENCE

• Bachelor’s degree in a business-related field plus ten years’ experience in commercial lending including government guaranteed lending and two years progressively responsible supervisor/management experience; or equivalent knowledge and skills gained through a minimum of twelve years related work experience.

BENEFITS

We are committed to investing in our team! Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):

• Opportunities for Training and Development *
• Leadership Development *
• Job Level Advancement (ability to move up in your position through training and development) *
• Tuition Reimbursement *
• 32 Hours Volunteer Paid Time Off *
• Paid Time Off - starting at 4 weeks per year for FT; prorated for PT *
• Medical
• Dental
• Vision
• Employer paid Life Insurance/AD&D
• Employer paid Disability Insurance
• Retirement Plan - Employer match up to 4%, eligible for annual profit sharing *
• Paid Parental Leave
• Bonus/Incentive Program
• Health and Wellness Programs *

Who We Are:

At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere. As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth.

Magnifi Financial has grown to more than 85,000 members, $2.4 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)