SBA Account Officer

Title: SBA Account Officer

Location:  This position may be worked remotely by candidates who live in MN, WI, or ND.

Full-time

Remote

Department: Lending

Job Description:

POSITION SUMMARY

Responsible for structuring, facilitating approval of, and closing of Small Business Administration (SBA) loans for Magnifi Financial. This position will work with Commercial Banking Officers (CBOs) and SBA referral partners along with borrowers and internal departments (including but not limited to credit analysts, SBA Business Development Officers (BDO’s), SBA Loan Processors, Document Specialists, and Servicing) to efficiently approve and close SBA loans while providing the best experience to borrowers and referral partners. This position may be worked remotely by candidates who live in MN, WI, or ND.

 

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Contributes to the overall production, portfolio performance and reputation of Magnifi Financial while striving to meet or exceed individual goals.  

• Oversees the SBA loan sales process while maintaining excellent communication between internal staff, borrowers, and referral partners, as applicable.

     o Interviews existing and prospective members applying for medium and moderately complex SBA and other third party sponsored programs loans. Makes decisions within authority and provides recommendations or referrals when appropriate.  

     o Reviews financial information with borrowers (concerns, strengths, weaknesses).

     o Works with staff to complete credit presentations, financial analysis and risk ratings on existing and prospective credits.

     o Responsible for preparation of commitment letters and adverse action documentation.

     o Performs loan closings with borrowers, ensuring all paperwork is properly completed and complies with legal regulations and the policies of Magnifi Financial.

     o Assists the SBA Servicing Department with collections/negotiations on problem member commercial loans.

• Keeps abreast of the SBA rules and regulations along with loan policies of Magnifi Financial. 

• Understands and remains knowledgeable on the products and services offered by Magnifi Financial, including but not limited to deposit products, cash management services and other loan products.

• Uses the sales process to identify and recommend Magnifi Financial products and services to members based on financial need, as appropriate. Makes referrals to appropriate departments.

• Assists in marketing efforts (via outbound call lists, etc.) as necessary.

• Assists in training and mentoring less experienced staff.

• Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial. Ensures positive relationships with members, community leaders and businesses.

EDUCATION AND EXPERIENCE

• Bachelor’s degree in Business, Sales or Finance, or equivalent experience

• Eight years of lending or credit experience in a financial institution; or equivalent knowledge and skills gained from related work experience. 

• Five years of experience working with SBA loans, as well as community development lending, traditional and alternative loan programs.

Salary Range: Salaries vary based on factors such as location, internal equity, skills, experience, education, and qualifications for the role. 

• Level I SBA Account Officer (2 years lending/credit experience, previous lending experience): $71,404 - $107,107
• Level II SBA Account Officer (8 years lending/credit experience, five years SBA experience): $89,248 - $133,873

Total compensation package varies based on position and may include bonuses, performance-based incentives, commission, and/or discretionary bonuses.

 

The 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 – Begins accruing upon date of hire for a total of 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
• Employee Engagement/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
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.