Commercial Lender (C&I)
Salem Five Cent Savings Bank
Salem, MA
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JOB DETAILS
JOB TYPE
Full-time
LOCATION
Salem, MA
POSTED
30+ days ago
Salem Five is a growing regional financial services organization with a rich history of over 170 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.
Join a growing mutual bank where sales ability meets execution, decision-makers are accessible, and deals get done. We are looking for experienced middle-market C&I lending professionals to join the team. Ideal candidates will have:
• Formal credit training
• 5+ years of experience in small to middle-market lending
• A strong understanding of credit analysis, structuring, and relationship management
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.
ESSENTIAL DUTIES AND RESPONSIBILITIES
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.
Responsibilities include 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 in small to middle-market lending as a loan officer. A strong background in business math, business law, and analytical and comparison skills is recommended. Must have a strong understanding of credit analysis, structuring, and relationship management. Looking for formal bank credit training. Workout experience strongly preferred.
Benefits/Incentives: We offer a comprehensive benefits package designed to support your well‑being and success, including medical, dental, and vision coverage; Flexible Spending and Health Savings Accounts; 401(k) matching; and tuition reimbursement. You will also enjoy additional perks such as our employee referral program, annual holiday reception, summer family outing, and more.
Salary Range: $150,000 - $200,000 plus incentives
The pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role. We may ultimately pay more or less than this range. Employee pay is based on factors like relevant education, qualifications, certifications, experience, skills, seniority, location, and performance. This range may be modified in the future.
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.
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.
No unsolicited resumes accepted from agencies.
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.
About the Company
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