SBA Account Executive

POSITION SUMMARY

Responsible for structuring, facilitating approval of, and closing of Small Business Administration (SBA) loans for Magnifi Financial and Ultum Group. This position will work with Magnifi Financial CBOs, SBA referral partners and Ultum Group’s clients along with borrowers and internal departments (including but not limited to credit analysts, SBA BDO’s, SBA Loan Processors, Doc Prep, and Servicing) to efficiently approve and close SBA loans while providing the best experience to borrowers, clients and referral partners.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Contributes to the overall production, portfolio performance and reputation of Magnifi Financial and Ultum Group while striving to meet or exceed individual goals.

• Oversees the SBA Loan Sales process while maintaining excellent communication between internal staff, borrowers, referral partners and Ultum Lender Service Provider (LSP) clients, as applicable.

o Interviews existing and prospective members applying for medium and moderately complex SBA and other third party sponsored programs loans. Makes decisions within authority and provides recommendations and or referrals when appropriate.

o Reviews financial information with borrowers (concerns, strengths, weaknesses).

o Works with the credit function to complete credit presentations, financial analysis and risk ratings on existing and prospective credits.

o Responsible for preparation of commitment letters and adverse action documentation.

o Performs loan closings with borrowers, ensuring all paperwork is properly completed and complies with legal regulations and the policies of Magnifi Financial and/or Ultum Group Clients.

o Assists the SBA Servicing Department with collections/negotiations on problem member commercial loans.

• Keeps abreast of the SBA rules and regulations along with loan policies of Magnifi Financial and Ultum Group clients.

• Understands and remains knowledgeable on the products and services offered by Magnifi Financial, including but not limited to deposit products, cash management services and other loan products.

• Uses the sales process to identify and recommend Magnifi Financial products and services to members based on financial need, as appropriate. Makes referrals to appropriate departments.

• Assists in marketing efforts (via outbound call lists, etc.) as necessary for Magnifi Financial and Ultum Group.

• Assists in training and mentoring less experienced staff.

• Supports Ultum Group clients with onboarding, SBA related trainings and other projects that will assist Ultum clients grow their quality SBA production.

• Actively participates in community relations efforts to contribute to the mission and visibility of Magnifi Financial. Ensures positive relationships with members, community leaders and businesses.

EDUCATION AND EXPERIENCE

• Bachelor’s degree in Business, Sales or Finance plus eight years lending or credit experience in a financial institution; or equivalent knowledge and skills gained through a minimum of ten years related lending or credit experience. Five years of experience working with SBA loans, as well as community development lending, traditional and alternative loan programs.

The Benefits

We are committed to investing in our team! Magnifi Financial offers benefits that help everyone achieve their full potential. Full-time employees are eligible for the following benefits (benefits with an asterisk are also available to eligible part-time positions):

• Opportunities for Training and Development *
• Leadership Development *
• Job Level Advancement (ability to move up in your position through training and development) *
• Tuition Reimbursement *
• 32 Hours Volunteer Paid Time Off *
• Paid Time Off – Begins accruing upon date of hire for a total of 4 weeks per year for FT; prorated for PT *
• Medical
• Dental
• Vision
• Employer paid Life Insurance/AD&D
• Employer paid Disability Insurance
• Retirement Plan - Employer match up to 4%, eligible for annual profit sharing *
• Paid Parental Leave
• Bonus/Incentive Program
• Employee Engagement/Health and Wellness Programs *

Who We Are:

At Magnifi Financial, we offer a collaborative, friendly environment where we support our employee's growth and development, and create a positive work atmosphere. As a member-owned organization, we are focused on making dreams come true for our members. Our vision is enhancing the lives of members and community through strength, service and growth. Magnifi Financial has grown to more than 85,000 members, $2.4 billion in assets, over 400 employees, and over 25 branch locations throughout Minnesota. But what hasn’t changed is our focus on the members and communities we serve.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)