LOAN PROGRAM ANALYST

Position Overview

Join DCEO’s team as a Loan Program Analyst (Executive II) and play a key role in helping Illinois businesses access critical financing through the Department’s credit programs. This position combines financial analysis, risk assessment, lender engagement, and economic development to evaluate complex credit proposals, provide technical assistance, and support responsible lending decisions. Bring your expertise in finance and credit analysis to a position where your work directly supports businesses, strengthens communities, and advances economic opportunity across Illinois. 

Essential Functions

• Under general direction, serves as a Loan Program Analyst handling the end-to-end evaluation of credit proposals for businesses to gain access to credit programs offered by the Department of Commerce and Economic Opportunity. 
• Provides lender-facing communication, technical assistance, program guidance, and supporting outreach and marketing functions to support the Department’s small business financial assistance programs. 
• Prepares internal credit memoranda, presentations, reports, and associated supporting documentation for management and stakeholders to utilize in discussing and determining credit approvals.
• Assists the Loan Program Manager in managing program data and supports the fulfillment of compliance and reporting requirements. 
• Assists the Loan Program Manager in loan compliance reviews, monitoring lender adherence to approved terms, supporting risk mitigation activities, and assisting with the closing documentation review. 
• Performs other duties as required or assigned which are reasonably within the scope of the duties enumerated above. 

Minimum Qualifications

• Requires knowledge, skill and mental development equivalent to completion of four (4) years of college, preferably with coursework in business or public administration. 
• Requires two (2) years of responsible administrative experience in a public or business organization. 

Specialized Skills

• Requires two (2) years of progressively responsible experience in commercial lending, credit underwriting, credit or risk analysis, or financial analysis, including review of financial statements, leverage, cash flow, collateral, covenants, and loan structures.
• Requires two (2) years of professional experience drafting internal credit memoranda or equivalent underwriting documents that support credit decision-making, including articulation of risks, mitigants, and structural recommendations in a unit of government. 

Preferred Qualifications

• Prefers two (2) years of progressively responsible experience in commercial lending, credit underwriting, credit or risk analysis, or financial analysis, including review of financial statements, leverage, cash flow, collateral, covenants, and loan structures. 
• Prefers two (2) years of professional experience drafting internal credit memoranda or equivalent underwriting documents that support credit decision-making, including articulation of risks, mitigants, and structural recommendations in a unit of government. 
• Prefers a minimum of two (2) years of experience conducting due diligence on borrowers, including reviewing financial statements, analyzing repayment capacity, evaluating businesses, performing risk and compliance screenings, conducting legal and regulatory checks, and reviewing third party reports such as appraisals, environmental assessments, and credit reports. 
• Prefers a minimum of two (2) years of experience reviewing or working with loan documentation including loan agreements, guarantees, collateral/security instruments, and closing packages. 
• Prefers a minimum of two (2) years of experience presenting financial or credit recommendations to decision-making bodies (e.g., credit committees, underwriting committees, investment committees). 
• Prefers a minimum of two (2) years of experience with loan management, credit analysis, or enterprise resource planning (ERP) systems. 
• Prefers a minimum of two (2) years of experience working with government credit programs, such as SBA 7(a)/504, USDA Business & Industry (B&I), or other federal or state-backed credit support programs, including understanding of program eligibility frameworks. 
• Prefers a minimum of two (2) years of experience working with audit, compliance, or internal control frameworks in finance or credit settings. 
• Prefers a minimum of two (2) years of experience in budgeting, grant or loan administration. 
• Pefers four (4) years of college with concentration in one or more of the following fields: accounting, finance, business, business administration/management, economics, mathematics/statistics, or data analytics/data science. 

Conditions of Employment

• Requires completion of a background check and self-disclosure of criminal history. 
• Overtime is a condition of employment, and you may be requested or required/mandated to work overtime including scheduled, unscheduled, or last-minute overtime. This may require the ability to work evenings and weekends. 
• Certain provisions of the revolving door restrictions contained in 5 ILCS 430/5-45 apply to this position. As a result, the employee should be aware that if offered non-State employment during state employment or within one year immediately after ending State employment, the employee shall, prior to accepting any such non-State employment offer, notify the Office of the Executive Inspector General for the Agencies of the Illinois Governor (OEIG) or may be subject to a fine. 

The conditions of employment listed here are incorporated and related to any of the job duties as listed in the job description. 

About the Agency

The mission of the Illinois Department of Commerce and Economic Opportunity (DCEO) is to create equitable economic opportunities across the State of Illinois. By attracting and supporting major job creators, investing in communities, strengthening Illinois’ world-class workforce, fostering innovation, and ushering in the new clean energy economy, DCEO works to fortify Illinois’ reputation as a global economic powerhouse while ensuring Illinois is the best state to live, work and do business.