Sr. Loan Officer - Senior Care

at Live Oak Bank • Wilmington NC

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TITLE: Senior Loan Officer III

FLSA STATUS: Exempt

REPORTS TO: Business Line General Manager

BRAND/DEPT: Loan Production

POSITION SUMMARY:

Identifies, examines, evaluates, and recommends approval of commercial loans for businesses operating in the Senior Care industry, predominantly in the seniors housing sector, on behalf of Live Oak Bank’s national Senior Care platform.  Structures and negotiate credits in a manner consistent with bank policy and guidelines and business unit strategy.  Contribute to the growth of the platform through collaboration with teammates on marketing initiatives, promotion of new products and services to customers, and ongoing education of the seniors housing market regarding Live Oak Bank’s Senior Care offerings.  Position Live Oak Bank as a strategic partner and leading provider of debt capital to the seniors housing industry on a nationwide basis, by offering loan products for acquisition, refinance, renovation, expansion, ground-up construction financing, and working capital.  Create and enhance direct customer and referral source relationships through participation in industry events and by providing friendly, courteous and responsive service.  Develop and/or build upon existing industry knowledge with a long-term goal of being able to provide value for customers by demonstrating and transferring that knowledge.  

ESSENTIAL FUNCTIONS:

1.  Without supervision, gathers and quickly reviews and analyzes business and personal financial statements, property specific information, sources of repayment, and operator strength, to determine whether a deal warrants moving forward to full underwriting.

2.  Independently prepare financial models and a detailed loan budget based on information gathered from Customer.

3.  Review and analyze market feasibility studies including demographic and competitive information to assess viability of proposed projects. Candidate will have the ability and willingness to ask questions and challenge assumptions made by Customer, Customer’s vendors, and third-party vendors engaged by the Bank.

4.  Prepare loan proposal letters, correctly identifying borrowers, affiliates, collateral, guarantors, loan terms, and other relevant conditions related to the proposed transaction.

5.  Negotiate detailed loan terms with Customers in collaboration with Live Oak Senior Care leadership. Review legal documentation during the closing process to ensure all negotiated deal points are incorporated.   

6.  Utilize various software tools including Excel, Word, various data services, and Salesforce.com to complete and submit a loan request for full underwriting and subsequent approval. Work closely with the underwriter after submission, answering questions about the loan and the customer which will ultimately allow the underwriter to finalize a strong package to be considered for credit approval.

7.  Present financing opportunities, defend recommendations for approval, and respond to deal and sponsor related questions from credit during the loan approval process. Format of discussions may range from informal conversations to credit committee presentations.  

8.  Proactively share information and collaborate with colleagues on the Live Oak Senior Care team and Live Oak’s credit team to identify and mitigate credit concerns regarding the transaction or industry.

9. Understand impacts of loan structure and terms on the Customer, their ownership and investment structure, and the Customer’s exit strategy; use this perspective to structure financing solutions that work for both Live Oak Bank and the Customer.

10.  Expand and/or develop industry expertise in the areas of seniors housing, skilled nursing, and real estate finance.

11.  Develop and maintain strong relationships with Customers, industry focused referral sources, and banking/capital markets partners, in order to generate new business opportunities. Attend trade shows and other industry events to support business development.

12.  Keep abreast of economic conditions, the seniors housing and real estate markets, changes and trends in Customers' businesses, the banking industry, and the permanent loan markets (FHA, FNMA, Freddie Mac, SBA, USDA).

ADDITIONAL RESPONSIBILITIES:

1.  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.

2.  Functions as a team and realizes all members of the team are vital to its success

3.  Stays current with products and services the Bank is offering.

4.  Performs other duties as required.

 SKILLS:

  • Excellent customer service and interpersonal skills
  • Must work well with little supervision and be self-motivated to “drive” the deal process to the underwriting stage.
  • Demonstrate knowledge of common commercial real estate loan terms; i.e. covenants, earnouts, holdbacks, reserves, guarantees, leases, management agreements, etc.
  • Sound judgment
  • Intellectually curious
  • Problem solver mentality
  • Detail oriented
  • PC proficiency
  • Has or will develop in-depth knowledge of Bank lending policies, procedures and criteria

 EDUCATION:

  • Minimum of a Bachelor’s degree in Finance, Business, or Marketing; an MBA or relevant graduate level education is preferred.

 EXPERIENCE:

  • Five to seven years experience in conventional real estate lending for a bank or finance company, real estate investment (P/E, REIT, family office, mezz fund, etc), or real estate development.
  • Seniors housing industry specific knowledge is preferred, but not required.
  • SBA and USDA business loan program knowledge and experience is valued, but not required.
  • Formal credit training, underwriting experience, and/or experience within a credit-minded organization is preferred.
  • HUD MAP or LEAN underwriting experience a plus, but not required

 PHYSICAL DEMANDS/WORK ENVIRONMENT REQUIREMENTS:

  • Vision, hearing, speech, movements requiring the use of wrists, hands and/or fingers
  • Some travel is required
  • Must have a valid drivers license
  • Able to sit, stand, stoop and bend
  • The ability to work the days and hours required to fulfill the essential functions of the position
  • The ability to work long hours and to multitask

 MENTAL DEMANDS:

  • Learning, thinking, concentration, creativity
  • The ability to interact with others and exercise self-control
  • The ability to work under stressful conditions
  • The ability to exercise discretion when necessary
  • The ability to manage multiple files simultaneously