Financial Services Officer (FSO)

Position Name

Financial Services Officer (FSO)

Position Description

LaHave River Credit Union is a community based, full service financial institution with a membership of over 2,400 and assets of 59 million in a community located in Bridgewater, Nova Scotia.

We are recruiting a full time FINANCIAL SERVICE OFFICER (FSO) in the Bridgewater Area.  The main purpose of this position is to manage and develop a portfolio providing lending and investment services.

  • Do you enjoy interacting with people?
  • Do you see people first, not a number?
  • Can you pride yourself in accuracy and attention to detail?
  • Will you go the extra mile?

Reporting to the CEO, the Loans Officer will be responsible for but not limited to:

  • Manage and develop a portfolio, providing lending and deposit services to current and potential members
  • Ensuring all lending and deposit activities are in compliance with sound business practices, legislation, regulations, policies and procedures
  • Proactively identify members current and future needs through active listening skills during member conversations, to provide our members with appropriate products and services

Specific Accountabilities:

  • Interviews client/customer-owner to gather sufficient factual information to determine client needs. Completes an application and a financial analysis for all new, amended and renewal requests
  • Analyzes applicants’ financial status, credit and property evaluation to determine feasibility of granting loan.  Prepares credit information necessary to establish credit limit including such factors as applicant’s assets, credit experience, debt/income ratio, credit score and other underwriting procedures in accordance to policy and procedures.  Approves or declines loans within approval limits or refers to the next higher approving position level with recommendations.  Notifies customer-owner of acceptance or rejection of application.
  • Accepts responsibility for assigned accounts.
  • Compiles loan packages and negotiates loan structure with applicant, including rates terms, repayment options, and other credit terms. Ensures loan agreements are complete and accurate according to policy and regulatory requirements and security is in place prior to disbursement of the funds.  Ensures timely loan closing and disbursement of funds.
  • Analyzes potential lending and deposit opportunities involved in each situation to further assist borrowers, as well as increase credit union’s lending and investment portfolios. Utilizes Canada Small Business Financing and Nova Scotia Small Business Financing/loan Guarantees Program as well as referrals to partners and branches to grow personal business.  Cross sells borrowers on benefits of utilizing other credit union services.
  • Monitors account overdraft activity to ensure accounts operate within limits and qualify from a risk standpoint.  Ensures appropriate action is taken to minimize losses to the credit union.
  • Initiates collection action:  contacts delinquent borrowers in person, by telephone, or by mail, to encourage prompt repayment of delinquent accounts.  Confers with customer-owners to determine reason for overdue payment, reviewing terms of loan, charge, or credit contract with members.  Works with delinquent borrowers to recover principle, interest, and security.
  • Prepares documentation for loan renewals, loan repayment extension and substitution of loan securities. Prepares releases of security for paid our loans and mortgages.
  • Adheres strictly to Anti-Money laundering and Terrorism Financing (AMLTF) compliance.
  • Completes reports and other duties as assigned.

 

Qualifications Required

Minimum Hiring Qualifications and Experience:

  • The FSO will have successfully completed a certificate or diploma in Business Administration
  • You will have three to five years’ experience in credit and collections in a financial institution: or equivalent combination of behaviors, training and experience in credit and a desire to learn
  • Exceptional communication skills
  • Work planning and management skills
  • Proven sales experience with a customer service mindset
  • Demonstrated accuracy and attention to detail
  • Proven computer skills (Microsoft Office Suite with advanced knowledge of Word and Excel)
  • Superior sales skills with a proven track record of results

Job Reference Number

FSO001

Closing Date

September 24, 2021

Job Location

Bridgewater, NS

How to Apply

Method of Applying:  Please apply by submitting a resume and cover letter explaining how you feel you qualify for this position as well as your salary expectations to dengland@lrcu.ca

While we appreciate all submission, only those considered for an interview will be contacted. 

Thank you for your interest in joining the LaHave River Credit Union Team!