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
Following established lending policies and procedures, examines, evaluates, and closes commercial extensions of credit, predominately through USDA and occasionally SBA loan programs. May request specified information for loan applications. Responsible for assembling information required by Live Oak and counsel to properly close loans. Develops borrower relationships through friendly, courteous, and responsive service. Promotes the Bank’s services to current and potential borrowers. Nurture strong relationships with referral sources in various market niches. Travels for site visits and trade shows.
What You’ll Do At Live Oak
- While completing the application, applies elements of underwriting to include the analysis of applicants’ financial status, credit, and property evaluation to determine if loan requests meet Bank, SBA, and USDA lending criteria. Evaluates the sources of repayment on loan requests and does a competition analysis.
- Handles website and phone leads.
- Prepares Budgets for loans, issues proposal letters and follows up on open proposals.
- Learns bank policies and procedures as well as SBA, and USDA regulations. Reviews loans for USDA eligibility and verifies same.
- Completes the customer interview. Makes an assessment of the customer and resolves outstanding questions related to the transaction.
- Ensures that all documents required for the underwriting and credit approval of the loan transaction are uploaded to Salesforce.com and SharePoint, as well as potential third-party investor or loan participant share files and data rooms.
- Develops industry expertise in specified market niches and strong relationships with referral sources in these niches.
- Intermediate sales activity including stand-alone customer calls and independent trade show attendance, if necessary. Responsible for self-developing loan transactions and referral sources.
- Completes financial modeling and energy analysis.
- Ensures a smooth transfer of the customer to the Underwriter, USDA packager (if applicable), and Loan Closing Specialist for the approval, closing, and funding.
- 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.
- Attends trade shows and business vertical events to support business development.
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 Office of Foreign
- Assets Control (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
- Sound judgment
- Detail oriented
- PC proficiency
- In-depth knowledge of Bank lending policies, procedures and criteria
- Strong work ethic
- Strong organizational skills
- Minimum of a bachelor’s degree in Finance, Business, Marketing, Economics, Environmental Sciences, Mathematics, Statistics, or applied Natural Sciences; or Bachelor’s degree with financial industry or engineering experience
- Formal USDA and/or SBA and conventional credit training are preferred
- Lending experience is preferred
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 $70,000.00 - $110,000.00 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.