Commercial Credit Operations Specialist

1w1 week ago

The Federal Savings Bank

Chicago, US · Full-time · $70,000 – $90,000

About this role

The Federal Savings Bank, a national bank specializing in mortgage lending, is hiring an experienced Commercial Credit Operations Specialist to join the Chicago corporate headquarters team. This hybrid position requires 3 days per week in the Logan Square office. Qualified candidates must reside a commutable distance at application.

Primarily handle commercial loan underwriting and credit analysis by providing insights to sales teams on products, requirements, and structuring. Prepare CAF/CAM documents and present loans to the Credit Committee consisting of Chairman, President, and outside Director. Collaborate with closing teams to ensure approved terms are met.

Track financial statements, conduct annual reviews, assist in audits, and prepare monthly Credit Book portions. Manage delinquency workouts for 60+ day loans by contacting borrowers, collecting payments, and developing plans like foreclosure or modification. Oversee foreclosure processes, obtain appraisals, and monitor property sales.

Join a culture fostering work/life balance with career advancement and in-house virtual training. Benefits include PTO increasing with tenure, health/dental/vision plans, FSA/HSA options, company-paid life insurance, and 401k partial match. Experience big bank capability with small-bank feel.

Requirements

Bachelor's degree in Accounting or Finance preferred
2-3 years' experience in commercial credit operations
Fiserv Cleartouch software experience strongly preferred
Encompass LOS experience strongly preferred
Proficiency in Microsoft Office, particularly in Excel
Demonstrate professionalism when responding to deadlines and matters of urgency
Creative problem-solver; autonomous and internally motivated
Favorable credit and background required

Responsibilities

Provide insight to the Sales team on Commercial loan products and requirements
Underwrite Commercial loans including preparation of CAF/CAM and present to Credit Committee
Lead initiatives to implement process, procedure, and technology solutions to improve workflow
Request and track financial statements; prepare annual reviews
Track all Commercial loans 60+ days delinquent, contact borrower, and collect past due amounts
Prepare workout plans including foreclosure, modification, or extension
Manage foreclosure/bankruptcy process to resolve defaults quickly
Review loans boarded to Cleartouch and alert to any errors