What are the responsibilities and job description for the VP Commercial Loan Officer position at Milford Federal?
Under the general direction of the Senior Vice President Lending, performs a variety of business development, analytical and administrative tasks all geared toward the promotion of the Bank's commercial loan products and services.
Responsibilities
- Generate new business. Actively solicits both internal and external referral sources.
- Responsible for development of annual business plan and budget .
- Responsible for taking independent action on all loan requests and relationships within assigned authority.
- Analyze credit reports and financial statements to assess risk and eligibility.
- Negotiate loan terms with clients and ensure compliance with regulatory requirements.
- Responsible for the annual development of the commercial services business plan.
- Stays current with all lending laws, UCC and other applicable regulations.
- Participates in strategic planning, budgeting and new product development at the loan department level.
- Member of the Bank's Commercial Loan Committee.
- Responsible for working with external auditors and bank Regulators as needed.
- Ensure compliance with Bank Secrecy Act, AML, OFAC and USA Patriot Act including Customer Identification Program, customer due diligence, identifying high risk accounts, understand the due diligence required for lending transactions, and reporting suspicious activities to supervisor or BSA Department.
- Position requires obtaining a unique identifier to be used on all Mortgage documents originated by the employee and maintaining registration through the Nationwide Mortgage Registry System (NMLS).
Qualifications