Job description
First Entertainment Credit Union is seeking a seasoned, commission-driven, Commercial Business Development Officer (BDO) to join the Commercial Loan Operations team. The BDO will work closely with the Commercial Loan Operations team and manage the communication workflow from loan pre-screen through funding and post-closing needs. The role is responsible for originating new commercial loan relationships and driving loan and deposit growth within the investor and business community.
In addition, the BDO serves as a trusted advisor, working closely with members to recommend loan programs and deposit options. This position requires a seasoned professional with a proven track record of commercial real estate loan production and consistent achievement of sales goals. The ideal candidate will bring a robust book of business, ready to help scale the Commercial loan portfolio.
This is a full-time, hybrid opportunity reporting to VP, Lending Operations and is based in Hollywood, CA. This is a commission carrying position and the targeted base pay in California is between $110,000 and $135,000.
Responsibilities
·Proactively market and source new commercial real estate loans and deposits through various channels, including real estate investors, loan brokers, financial advisors, insurance agents, property managers, and other referral sources.
·Design and execute a strategic business development program focused on generating new loan originations and cross-selling credit union products.
·Conduct in-depth assessments of loan applications, clearly explaining commercial real estate programs and financing options to the borrower/guarantor or loan broker.
·Negotiate loan terms, including rates, payment structures, and covenants, ensuring alignment with credit union policies, risk tolerance and member needs.
·Prepare competitive market surveys and recommend enhancements to loan programs, pricing strategies, and marketing initiatives.
·Promote and cross-sell additional credit union products and services to members and prospects.
·Partner with underwriters, credit analysts, processors, vendors and closing staff to ensure timely, accurate and compliant loan generation.
·Provide training and instructional materials to branch personnel to support commercial lending initiatives.
·Develop new participation loan opportunities through existing vendors, credit union partners, and industry networks.
·Is responsible for soliciting, prescreening, and managing commercial real estate loan requests on properties that meet established lending requirements for the credit union.
At First Entertainment, your role and every role are essential to our Mission [We build lifelong financial relationships with the people in entertainment based on a deep understanding of how they live and work], Core Values [Members First + Ownership + Integrity + Innovation + Inclusivity + One Team], and we expect you to uphold them.
Requirements
·A bachelor’s degree from an accredited college or equivalent of experience is required.
·Minimum of 7 years of experience in commercial real estate lending is required with proven production results in excess of $20MM annually.
·Extensive knowledge of real estate lending regulations, title & escrow functions, loan documentation, credit/financial analysis techniques, disbursement procedures, and underwriting functions.
·Effective sales/marketing and customer service techniques along with excellent writing, communication and presentation skills are essential.
·Demonstrated ability to read and spread basic financial statements and tax returns and understand Debt Service Coverage Ratios.
·Ability to analyze property operating statements to determine probable income, expenses and operating income is required.
·A thorough understanding of components of appraisal and environmental reports including, capitalization rates, vacancy and market factors, and the impacts of the results of Phase 1 and 2 environmental reports is required.
·Strong knowledge of Los Angeles County commercial real estate market and submarkets, including multifamily, retail, office and industrial property types.
·Demonstrated ability to negotiate and re-structure loan terms to win and retain loan business.
·Strong understanding of risk assessment and mitigation principles.
·Must be team-oriented and motivated to meet targeted sales goals.
·Excellent communication and interpersonal skills across all audience levels.
·Proficiency in Microsoft Office suite, namely excel, Adobe, PowerPoint.
