About Us
Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.
How This Role Impacts Live Oak and its People
In accordance with established lending policies and procedures, assists business line general managers and Senior Loan Officers in examining, evaluating, and closing commercial extensions of credit. May request specified information for loan applications. Responsible for assembling information required by Live Oak and counsel to properly close loans. Assists loan officer by participating in conference calls with Senior Loan Officers and clients, and by populating the SF file with notes from these discussions. Develops understanding of commercial lending and the particular product they are promoting. Promotes Bank’s services to current and potential borrowers. Must be highly responsive to clients in deal negotiations, increasingly knowledgeable of various loan structures and how to apply them with the utmost safety and soundness. Travels for site visits and trade shows as needed.
What You’ll Do at Live Oak
While completing the application learns elements of underwriting to include the analysis of applicants’ financial status, credit, operational skill set and its applicability to the business being acquired.
Runs cash flow spreads, evaluate materials sent in by prospective borrowers and quickly develop critical questions, summarize strengths and weaknesses of the opportunity.
Prepares Budgets for loans, as assigned, to be reviewed and validated by a Senior Lender.
Learns bank policies and procedures as well as SBA, USDA, and Conventional standards
Becomes very familiar with SBA 7(a) SOPs and USDA regulations.
Reviews loans for SBA and USDA eligibility and verifies same.
Participates in the customer interview, with Senior Loan Officer taking the lead role.
Serve as a first call liaison with U/W for questions after the deal formally enters the U/W department.
The Loan Analyst would handle smaller internal questions with the larger issues being raised to include the LO/SLO in charge of the deal.
Present deals to Credit Committee; participate in preflight discussion and present deals to credit committee, if necessary
Assists in assessing the customer and resolves outstanding questions related to the transaction.
Manage all communications with prospects, referral sources and investors independently.
Ability to challenge assumptions and discuss critical questions directly with borrowers.
Develops expertise in use of Bank loan systems. Ensures that all documents required for the credit approval of the loan transaction is uploaded to Salesforce.com, SharePoint, and third-party data rooms.
Ensures a smooth transfer of the customer to the Underwriter, USDA packager, and Loan Closing Specialist for the approval, closing and funding of the loan. Coordinates construction disbursement with the construction specialist if applicable.
Keeps abreast of economic conditions, changes and trends in customers' businesses, the banking industry and the specific market niches targeted by the Bank.
How You’ll Do It
Has responsibility for following regulatory requirements including those pertaining to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), Customer Identification Program (CIP), and OFAC to assist in the identification, detection and determent of money laundering or other unlawful activities.
Functions as a team and realizes all members of the team are vital to its success.
Stays current with products and services the Bank is offering.
Performs other duties as required.
Required and Preferred Experience
Excellent customer service and interpersonal skills
Manage constantly shifting priorities and timelines
Collaborative, able to work in team environment
Sound judgment
Detail oriented
PC proficiency
In-depth knowledge of Bank lending policies, procedures and criteria
Strong work ethic
Strong organizational skills
Formal USDA and/or SBA and conventional credit training is preferred
Underwriting experience is strongly preferred
A minimum of 3-4+ years industry specific experience or related, transferable experience. Additional lending experience is preferred
Minimum of a bachelor’s degree in Finance, Business, or Marketing
To Thrive at Live Oak
- Gravitate to Growth – Shows adaptability and support for changes to improve organizational effectiveness.
- Communicate and Collaborate – Communicates clearly and thoughtfully, demonstrating empathy in teamwork.
- Eye of the Tiger – Gets positive results by taking personal responsibility for actions and team outcomes.
- Know Your Business – Curates and maintains a depth of knowledge and skill to perform one’s job effectively.
- Customer at the Center – Provides customers with a personalized experience to achieve exceptional outcomes.
For a detailed overview of our employee benefits please visit: http://www.liveoakbank.com/careers/
Live Oak Bank is an Affirmative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at careers@liveoak.bank
EEO is the Law
Commitment to Diversity
Live Oak Bank is committed to creating and maintaining a workplace in which all employees have an opportunity to participate and contribute to the success of the business and are valued for their skills, experience, and unique perspectives. This commitment is embodied in company policy and the way we do business at Live Oak Bank and is an important principle of sound business management.
The base pay range for this position is $80,000.00 - $130,000.00 per year. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate’s salary is determined by several factors including travel, relevant work experience or skills and expertise.
Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.
