Commercial Loan Officer (C&I)

Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers. Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about. Salem Five is looking for a commercial lender with experience in C&I lending. The commercial lender issues loans for businesses or business investment that are backed by solid collateral. Commercial lenders evaluate, analyze, and interpret data regarding real property, pricing, market stability, and future trends by means of information provided within financial material and personal interviews. Lenders are responsible for processing loan data and credit information, analyzing and evaluating credit worthiness and setting payment terms. Commercial lenders summarize data expressing current and long term trends in industry and company specific risks, as well as calculable economic pressures relevant to the condition of underlying borrower. They may conduct research to further support decisions and make analyses to compare varying degrees of risk for potential losses. They may suggest alternative lending measures during unfavorable financial trends. ESSENTIAL DUTIES AND RESPONSIBILITIES includes the following. (Other duties may be assigned). Develop and maintain new business relationships. Establish a productive referral network consisting of attorneys, accountants, and other professionals within the market area. Conduct research on businesses, review tax and financial statements and interpret balance sheets, proforma ratios, annual budgets and profit and loss statements. Collaborate with credit department for receipt of applicant credit reports, background, reference checks, and financials in order to make an educated decision and/or approval for loans. Negotiate loan structure, including interest rates, fees, loan repayment options and other credit terms. Approves loan with delegated limits or refers loans to higher authority. Handle ongoing portfolio of commercial loans, including monitoring payments, financial performance and collateral position. Assume timely responsibility for compliance with approved loan covenants and regulatory requirements. Prepare and organize required reports, memos, and any other necessary documentation on a timely basis. Cross sell products and services to existing relationships. Promote the Bank’s presence through participation and attendance at various civic and charitable event/organizations. Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position. Proficient with mobile smart phones and downloading applications. This includes the basics of texting, email and application management Proficient utilizing desktop applications such as MS Office (Excel, Word, Exchange) Embrace new and emerging technologies to support operations and customers through flexibility and the ability to learn and adapt to change EDUCATION and/or EXPERIENCE An Associate’s, Bachelor’s or Master’s degree in banking and finance, economics, or related degree field such as business finance. Must have five to ten years of experience as a loan officer. A strong background in business math, business law, and analytical and comparison skills is recommended. A combination of formal bank credit training or previous work experience is preferred. Workout experience strongly preferred. PHYSICAL DEMANDS The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to talk or hear. The employee frequently is required to stand; walk, sit; use hands to finger, handle, or feel; and reach with hands and arms. The employee must frequently lift and/to move up to 10 pounds. Specific vision abilities required by this job include close vision. Employee is required to travel to store locations and participate in business and community events. Benefits/Incentives: Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more Salary Range: Competitive Base plus incentive Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you. Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970. 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)