iBusiness Funding is a leading provider of lending solutions for banks and lenders of all sizes with a specialization in SBA lending. The company is dedicated to streamlining the business lending process to allow lenders to efficiently deliver capital to small and medium-sized businesses. iBusiness Funding has processed over $6 billion in SBA loans to date, and the team processes over 1,000 business loan applications through its platform daily. We are committed to our four values of success: innovation, integrity, enjoyment, and family.
Our parent company is a top 15 SBA 7(a) preferred lender with SBA express and small loan capabilities.Position Description:We are looking for an SBA Compliance Manager to join our growing team. Through a dynamic, customer-centric model, this position will play a critical role in the proactive management of risk in the portfolio and in the participation of corresponding government loan programs. A successful candidate will possess the analytical thinking skills necessary to analyze and synthesize information to understand issues, identify options, and support sound decision making to contribute to the overall goals and objectives of iBusiness Funding.Job Summary:
- Assist in the oversight the LSP operations in the SBA Small Loan and Express Loan products and perform oversight as required by RCL policies.
- Review and approve SBA Forms, Lender’s Application for Loan Guaranty.
- Perform due diligence on loan file and documentation received prior to Closing and approve closing upon compliance with SBA and RCL policies and credit approval conditions.
- Interact with closing counsel and deal team to obtain necessary documentation/information regarding the loan file as needed.
- Verify completed loan files are delivered timely for Post-Close audits and coordinate the audit process with internal and external partners .
- Contribute to the development and maintenance of RCL’s internal Loan Service Provider policies.
- Become integrated into the LSP operations to efficiency complete essential job functions.
Summary of Essential Job Functions:
- Assist in oversight of LSP operations in the SBA Small Loan and Express Loan products.
- Assist in the approval of all SBA submissions for guaranty, approve closing of transactions and drive timely delivery of compliant files to RCL servicing department.
- Promote a favorable image of ReadyCap to potential and existing clients and referral
- Contribute to efficient loan processing by working closely with the LSP loan production, maintaining a thorough understanding of the operations, products, and documentation, to promote the efficient production of eligible SBA transaction.
- Proficient with the understanding and application of ReadyCap’s policies and procedures, compliance requirements, SBA regulations, and various federal, state laws and
- Promptly report to the LSP Director of Credit and Compliance any adverse events or information that would have a material effect on the lending operation or any event or situation that could be a conflict of interest.
- Provides regulatory support and serves as an advisor to the business units, working with examiners, regulators, auditors, legal and corporate compliance during compliance examinations.
- Serves as a resource to management and business unit leaders on compliance-related matters.
Primary Success Measurements:
- Ongoing efficient oversight and approval activities that deliver timely closing of loan transactions.
- Exception free post-close review.
- Exception free SBA Audit or other 3rd party loan reviews.
- No SBA repair and denials of the guaranty.
Supervisory Responsibilities: Position may lead to expansion and oversight of employeesQualifications:To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.Education and/or Experience:
- Bachelor’s degree (preferably in Finance, Real Estate, Accounting, or Business Administration), 5years of experience in Commercial Lending (C&I and Owner-Occupied Real Estate Lending) and SBA
- Managerial experience is a high production environment
- Thorough working knowledge of SBA’s SOP 5010 (current version in use)
- Knowledge of SBA Closing process and SBA Compliance requirements
- Expertise on the content of standard loan closing documents required
- Prior experience preparing loan packages and managing SBA audits preferred
- Basic credit skills required
- Ability to prioritize and operate with a sense of urgency
- Strong verbal and written communication skills
- Organized, detail-oriented, and able to multi-task
- Ability to work collaboratively with multiple stakeholders
Language Skills:
- Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure
- Ability to write routine reports and
- Ability to speak effectively before groups of customers or employees of
- Diplomacy in dealing with
Mathematical Skills:
- Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and
- Ability to apply concepts of basic algebra and
Reasoning Ability:
- Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram
- Ability to deal with problems involving several concrete variables in standardized
Computer Skills:
- To perform this job successfully, an individual should have knowledge of Internet software and Microsoft Office software including Excel, Word, Outlook, and PowerPoint.
Conclusion:This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. This job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.The company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, genetic information, or any other characteristic protected by law.
