VEDA offers a competitive salary and benefits package and is an Equal Opportunity Provider and Employer.

 

Loan Review and Compliance Specialist

VEDA is looking to hire a half-time Loan Review and Compliance Specialist whose primary responsibilities will be to complete comprehensive loan reviews in order to ensure compliance with internal Credit Policy and specific State/Federal loan program requirements, and to identify any credit analysis, servicing, or documentation weaknesses. The Loan Review and Compliance Specialist will also compile and submit compliance-related financial reporting, as needed, for compliance with State and Federal Programs and with private financial institutions with which the Authority does business.

VEDA’s Loan Review and Compliance Specialist is a member of VEDA’s Compliance Team, working under the supervision of the Chief Compliance and Loan Review Officer.

Essential Job Functions

LOAN REVIEW
• Perform objective and efficient evaluation of statistically-significant samples of loans in selected commercial and agricultural loan portfolios according to review plan;
• Utilize established loan review worksheets to assess compliance with underwriting and Policy requirements and regulatory guidelines;
• Identify credit, documentation or underwriting weaknesses, policy or regulatory violations, servicing deficiencies, and technical exceptions;
• Work collaboratively with loan staff members to ensure fair and complete review of documents obtained and to understand processes in place; and
• Provide concise, risk-oriented report of findings, as well as recommendations for corrective actions, in a professional and objective manner to management.

COMPLIANCE
• Prepare (in some cases), compile, and submit compliance-related financial reporting for VEDA debt providers and for State and Federal Programs including, but not limited to:
       -   Farm Service Agency Guarantee Program;
       -   USDA Intermediary Relending Program;
       -   USDA Rural Development Guarantee Program;
       -   
SBA Community Advantage Guarantee Program; and
       -   SBA 504 Loan Program;

• Complete, and report on, assigned compliance-related internal controls to assist in minimizing VEDA’s exposure to regulatory risk; and
• Assist Chief Compliance Officer in communicating new regulatory and loan program requirements to appropriate staff members. Serve as staff resource for questions.

OTHER
• Maintain department procedures; and
• Assist in the preparation of applications for new federal programs.

Education/Experience
• A Bachelor's Degree and 5-7 years related experience and/or training or comparable combination of education and experience;
• Prior lending, loan review, or audit/examination experience strongly preferred, with demonstrated thorough and practical working knowledge of corporate, small business, CRE, and agricultural lending concepts, financial analysis methods, risk assessment, and accounting principles;
• SBA and USDA loan experience preferred; and
• Federal reporting experience preferred.

Knowledge/Skills/Abilities
• Attention to detail;
• Ability to work independently, and at times, collaboratively with lenders and lending staff;
• Ability to read, analyze and interpret federal rules, guidelines and procedures, and governmental regulations and statutes;
• Ability to effectively present information and respond to questions from staff, management and other professionals;
• Ability to assimilate information relating to complex loans;
• Ability to use discretion when making decisions, be creative and innovative in problem-solving, and to exercise good judgment;
• Comfort in evaluating lending and administrative processes, controls and procedures for potential exposure to operational risk;
• Ability to write reports, business correspondence, and procedures; and
• Computer software proficiency in word processing and EXCEL, and ability to learn new software systems (i.e., loan documentation retention software, accounting software, etc.).

Working conditions are in a standard office environment. The successful applicant must exhibit a desire to innovate, learn new tasks, and accept a changing and evolving workload.

VEDA offers a competitive salary and benefits package and is an Equal Opportunity Provider and Employer.

Please email resume to:

Cheryl Houchens
Chief Compliance and Loan Review Officer
Vermont Economic Development Authority
chouchens@veda.org