RACINE COUNTY ECONOMIC DEVELOPMENT CORPORATION JOB DESCRIPTION

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1 Loan Servicing Specialist/Analyst, Racine County Economic Development Corporation (Racine, Wisconsin) The Racine County Economic Development Corporation (RCEDC) is the economic development agency for the County and all local units of government. The Loan Servicing Specialist/Analyst maintains the business loan portfolio of Business Lending Partners (BLP), the finance division of RCEDC, and conducts credit analyses on loan servicing requests and loan applications. The Corporation is seeking a detail-oriented, organized, analytical professional. Activities as part of maintaining the loan portfolio include maintaining all loan files, handling servicing transactions requested by borrowers and ensuring borrowers are in compliance with loan covenants. Activities as part of credit analyses include evaluating requests made from borrowers for changes in their original loan terms and making a recommendation on BLP s response, as well as analyses on prospective and actual loan applications and providing results to the BLP Loan Officer and/or Business Finance Manager. Applicants should have a Bachelor's Degree in Banking, Finance or related field. Submit cover letter, resume and salary requirements to Carolyn Engel, RCEDC/Business Lending Partners, 2320 Renaissance Blvd. Sturtevant, WI or to LBeauchesne@RacineCountyEDC.org. The application deadline is September 23, The RCEDC is an Equal Opportunity Employer and is dedicated to a policy of non-discrimination. RACINE COUNTY ECONOMIC DEVELOPMENT CORPORATION JOB DESCRIPTION Job Title: Reports to: Loan Servicing Specialist/Analyst Business Finance Manager and Executive Director SUMMARY The Loan Servicing Specialist/Analyst maintains the business loan portfolio of Business Lending Partners (BLP), a division of the Racine County Economic Development Corporation (RCEDC) and conducts credit analyses on loan servicing requests and loan applications. BLP loan programs and therefore its loan portfolio, includes a variety of loan funds, including: US Small Business Administration (SBA) 504; Racine County Economic Development Administration (EDA) Revolving Loan Fund (RLF);

2 County of Racine Community Development Block Grant (CDBG) Revolving Loan Fund (County CDBG-RLF); City of Racine Revolving Loan Fund (City-RLF); County Revolving Loan Fund; Racine Development Group (RDG) loan fund; Village of Union Grove CDBG Revolving Loan Fund (UG-RLF); City of Burlington CDBG Revolving Loan Fund (Burl-RLF); City of Burlington Tax Incremental District Revolving Loan Fund (TID-RLF); Brownfield Cleanup Revolving Loan Fund (BC-RLF); and Waukesha County Economic Development Corporation (WCEDC RLF), administered by contract. Activities as part of maintaining the loan portfolio include but are not limited to maintaining all loan files, handling servicing transactions requested by borrowers and ensuring borrowers are in compliance with loan covenants. Activities as part of credit analyses include evaluating requests made from borrowers for changes in their original loan terms and making a recommendation on BLP s response, as well as analyses on prospective and actual loan applications and providing results to the BLP Loan Officer and/or Business Finance Manager. This position also completes special projects as required by the Business Finance Manager and reports regularly on all tasks directly to the Manager. ESSENTIAL DUTIES AND RESPONSIBILITIES 1. Work with all loan recipients during the term of their loans to ensure loan files are kept up-to-date and any questions or concerns regarding their loans are addressed. This includes but may not be limited to: Create and maintain all individual loan files, updating documentation as required. Send out letters to loan recipients, as appropriate, and monitor responses. Monitor loan recipients performance to ensure compliance of all loan covenants including performing onsite visits. Monitor higher risk loans more frequently through public records checks and other actions. Respond to requests for changes to the loan covenants or terms, notifying the loan recipient of what is needed to consider their request and then reviewing and analyzing that documentation and make a recommendation to either the Business Finance Manager or Loan Committee as deemed appropriate. Provide general information to loan recipients as requested relative to servicing the loan portfolio. Handle loan payoffs, including obtaining payoff statements from the Accounting Manager. Verify monthly loan payments scheduled to be debited from loan recipients. 2. Maintain the BLP database and loan portfolio information in Salesforce software by ensuring all company and contact information is entered and all loan recipient information is entered into the system so that appropriate portfolio servicing reports are generated. This includes maintaining a portfolio status report with the assistance of the Accounting manager.

3 3. Coordinate and document the BLP Loan Committee meetings including writing meeting minutes, preparing and distributing meeting agendas and packages, coordinating all meetings, monitoring for quorums, and archiving meeting documents. 4. Prepare and present meeting minutes and the loan portfolio status report to the BLP Loan Committee as scheduled. 5. Maintain and track Business Lending Partners archived files. 6. Provide assistance as needed to the Loan Closer on loan closings and debenture sales for the SBA program to facilitate timely closings and funding of loans. This will include but may not be limited to the following activity: Prepare no adverse change analyses as needed on loans before funding and provide a recommendation to Loan Officer and/or Business Finance Manager. If approved, submit to SBA. 7. Conduct loan pre-processing tasks as needed. These may include but are not limited to: Maintain and monitor loan application files for completeness. Enter prospective loan applicants into Salesforce software. Prepare savings calculations for potential loan applicants regarding benefits of using RCEDC s loan programs. Order credit reports and conduct other pre-processing tasks, including but not limited to the review of public records on loan applicants. Spread financial statements in Moody s KMV Financial Analyst Software. Analyze financial statements and/or tax returns of borrowers, guarantors and principals. Calculate repayment ability of loan applicants. Analyze adequacy of collateral being pledged to secure the loan. As requested, pull and review First Research Industry Reports. Occasional special projects may include analyzing market conditions with respect to the project being underwritten or other factors related to considering the credit request. Provide recommendations to the Loan Officer and/or Business Finance Manager on credit worthiness of applicants. 8. Assist Loan Officer with timely preparation and submission of accurate SBA 504 loan packages to SBA through its e504 system using RCEDC s Loan Management Software (LMS). 9. The following tasks are to be learned by the Loan Servicing Specialist/Analyst but will become the responsibility of the Accounting Manager. This position will continue to provide assistance to the Accounting Manager in these areas as needed: Conduct loan grading including reviewing financial statements of loan recipients and assessing the level of risk of potential default for each loan. Report results regularly

4 to the Business Finance Manager, Loan Committee and Executive Committee as required. Invoice and refund customers as needed for out-of-pocket costs related to closing and maintaining their loans. Calculate the proposed allowance for doubtful accounts amount for the loan portfolio to include in the RCEDC financial statements on an annual basis and monitor regularly for changes. Present the recommendation for the allowance amount to the Loan Committee and RCEDC Executive Committee for final approval. Complete the following reports with the potential of additional reports to be added: o EDA and CDBG semi-annual reports o SBA annual report (providing assistance to Loan Closer on this report as needed) o Annual audit letters to all loan recipients o 1098 information to CPA s and disbursement of SBA CSA 1098 s. OTHER RELATED TASKS 10. Participate in other project assignments as directed by the RCEDC Executive Director or Business Lending Partners Business Finance Manager. 11. Attend Board and staff meetings as required. KNOWLEDGE, SKILLS AND ABILITIES Certificates: Valid driver s license with verification of appropriate insurance coverage Experience: Bachelor s Degree in Banking, Finance or a related field (a December 2014 graduate may be considered) Minimum of one year related experience preferred, such as in banking, public sector financing organization, business credit organization, etc. Ability to perform Statistical analyses Ability to perform basic mathematical operations and to analyze and interpret business financial statements and related financial and business documents Ability to maintain a high degree of professionalism, confidentiality, flexibility and initiative Proven oral and written communication skills with an emphasis on effective interpersonal skills to work with varying levels of professionals, such as public officials, bankers, State and federal employees, board members, staff, and business owners Ability to manage multiple projects requiring specific deadlines that may often result in a high stress environment Ability to work independently, effectively analyze and problem solve issues, and exercise good judgment in making a variety of decisions Proven organizational and time management skills Ability to work with the business community and the general public Knowledge of word processing, data processing and spreadsheet software applications

5 Equipment: Operate a variety of office machines and equipment to include computer, scanner, fax machine, telephone, copy machine and calculator Environment: Typical inside, air-conditioned office environment Often, a variety of other settings such as manufacturing facilities, construction sites, older retail buildings and/or other environments requiring the ability to be adaptive to changes in terrain, limited accessibility, etc., or tolerate unusual or unpleasant odors The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. Physical Demands: Some standing, walking, sitting, stooping Some kneeling, crouching, balancing and bending/twisting Some lifting, carrying, pushing/pulling to a maximum of 25 pounds Sitting for long periods of time Fine motor skills Tolerance of noise and odors from various office machines, or during site visits Driving to various locations as required by meetings, appointments, etc. This position is full-time. RCEDC offers a competitive benefits package. To apply for this position, you must your application package to include the following: 1. A cover letter indicating why you are applying for this position and how your experience aligns with this position; 2. A current resume that highlights your experience related to the position requirements; and, 3. A specific salary expectation. your application materials to: LBeauchesne@RacineCountyEDC.org. The RCEDC is an equal opportunity employer located at 2320 Renaissance Blvd., Sturtevant, WI, No phone inquiries.