Salem Five Bank · 2 months ago
Commercial Loan Officer (C&I)
Salem, MA
Full-time
Onsite
Senior Level
$150K/yr - $200K/yr
5+ years expSalem Five Bank is a growing regional financial services organization with over 160 years of history, dedicated to supporting the communities it serves. They are seeking a Commercial Loan Officer with experience in C&I lending to issue loans backed by solid collateral and to evaluate and analyze credit worthiness, while developing new business relationships and ensuring compliance with loan covenants.
BankingFinanceFinancial ServicesMortgage
Responsibilities
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
Qualification
Required
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 as a loan officer
A strong background in business math, business law, and analytical and comparison skills is recommended
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
Preferred
A combination of formal bank credit training or previous work experience is preferred
Workout experience strongly preferred
Benefits
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
Company
Salem Five Bank
Salem Five is a financial services company with deep roots in Massachusetts - proudly serving individuals, families, and businesses since 1855.
501-1000 employees
Funding
Current Stage
Late StageLeadership Team
Brian Shaughnessy
Chief Financial Officer
Diane G. Smith, PHR
Sr. Vice President, Sr. Strategic Business Partner
Recent News
2025-11-20
Business Insider South Africa
2023-03-31
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