First Entertainment Credit Union

Commercial Business Development Officer

Posted 14 Days Ago

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Hollywood, Los Angeles, CA

Hybrid

110K-135K

Senior level

Financial Services

Here at First Entertainment, we build lifelong financial relationships with the people in entertainment.

The Role

The BDO will originate commercial loans, manage relationships, negotiate loan terms, and promote credit union products while achieving sales goals.

Summary Generated by Built In

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.

Top Skills

Adobe

Excel

MS Office

PowerPoint

What the Team is Saying

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The Company

HQ: Los Angeles, CA

225 Employees

Year Founded: 1967

What We Do

Named one of the top 10 Credit Union in California by Forbes, First Entertainment Credit Union has been the financial ally since 1967 for the creators of entertainment and those who support them. With more than 2.1 billion in assets and over 90,000 members, we are constantly looking for talents to help us build a high trust, high performance and workplace of choice culture while growing our business. As a teammate, you will enjoy an inclusive workplace culture and an employer-of-choice environment.

At First Entertainment Credit Union we believe Your Story Matters and that includes our members, employees, community, and those interested in joining our growing team.

Why Work With Us

At First Entertainment, we believe our teammates are capable of great things. We celebrate their commitment to excellence and aim to foster that dedication through both professional and personal growth. We don't believe in merely employing workers but in empowering future leaders. We help our teammates bring their own career stories to life.