Business Banking Loan Officer at Salem Five Cent Savings Bank in Salem, Massachusetts

Job Description:

 

This position requires the ability to work in the Salem, MA offices.  

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.  
 

JOB DUTIES AND RESPONSIBILITIES include, but are not limited to the following: 

• 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.


• Work effectively with other areas of the Bank.


• Assumes additional responsibilities as requested.


• Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.


• Provide an outstanding Customer Experience to Salem Five customers and prospects


• Be able to demonstrate a high level of proficiency with Salem Five’s digital technology offering


• 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)


• Proficient utilizing the Internet (mobile and desktop) to search and locate information


• 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 seven 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. 

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 frequently required to sit, talk or hear. The employee is occasionally required to stand or walk.  The employee must occasionally lift and/or move up to 10 pounds. 

Specific vision abilities required by this job include close vision. 

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.  

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)

Retail - Business Banking

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