LOANS OPERATIONS ANALYST

Position Overview

The Illinois Department of Commerce and Economic Opportunity (DCEO) is seeking to hire a Loan Operations Analyst to support Illinois’ loan programs including those funded through the State Small Business Credit Initiative (SSBCI) program. The Office of Entrepreneurship, Innovation & Technology (OEIT) supports entrepreneurs through a variety of programs providing access to capital for small businesses. This position will be responsible for supporting the administration and operations of DCEO’s Advantage Illinois Participation Loan and Loan Guarantee Programs. The position will focus on supporting the program’s funding operations; monitoring and compliance; data management; reporting including state and federal requirements; and micro- and macro-level analysis. This role will help provide low-cost capital loans to eligible businesses in Illinois to support businesses as they establish and grow, create and retain jobs, and spur economic development. We invite qualified applicants to apply for the position of Loan Operations Analyst to help provide equitable and fair access to capital to businesses in Illinois.

Essential Functions

• Assists in the preparation and administration of loan enrollments and loan payments/ funding following the policy and procedures under the Financial Review Unit. 
• Assists in the monitoring and obtaining of loan repayment information and ensuring compliance with contract terms from lenders, loan recipients and their owners, managers, and guarantors. 
• Assists in managing program data and supports the fulfillment of compliance and reporting requirements. 
• Performs evaluations and analysis of projects, loans, program operations, and the program’s loan portfolio. 
• Evaluates the eligibility of credit proposals submitted to the Department. 
• Performs other duties as required or assigned which are reasonably within the scope of duties enumerated above. 

Minimum Qualifications

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

Specialized Skills

• Requires two (2) years of progressively responsible experience within the past 10 years working with financial, credit or loan documents such as loan applications, promissory notes, loan closing documents, and/or underwriting documentation. 
• Requires two (2) years of professional experience within the past 10 years performing credit analysis, lending operations, or financial services activities. 

Preferred Qualifications

• Prefers two (2) years of progressively responsible experience within the past 10 years working with financial, credit or loan documents such as loan applications, promissory notes, loan closing documents, and/or underwriting documentation. 
• Prefers two (2) years of professional experience within the past 10 years performing credit analysis, lending operations, or financial services activities. 
• Prefer two (2) years of experience working with grant, accounting, financial analysis, or loan management systems and software. 
• Prefer two (2) years of financial or data analysis experience, which may include managing financial data, aggregating information, and providing written and oral reports to management and stakeholders. 
• Prefer one (1) or more years of experience in monitoring performance standards, implementing compliance controls, and conducting quality reviews including but not limited to financial auditing. 
• Prefer four (4) years of college with concentration in one or more of the following fields: accounting, finance, business, business administration, statistics, mathematics, econometrics, or economics. 
• Prefer two (2) years of experience in budgeting, grant or loan administration. 

Conditions of Employment

• Requires completion of a background check and self-disclosure of criminal history. 
• Requires appropriate, valid driver’s license. 
• Requires the ability to travel in the performance of duties, with overnight stays as appropriate. 

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