JOB TITLE: Private Banking Loan Officer
Grade/Benefit Designator: A6/24
Job Code: 107877, SAFE Act Position
JOB BRIEF (PURPOSE)
The Private Banking (PB) Mortgage Loan Officer (MLO) is responsible for covering retail bank branches and the Private Banking High Net Worth clients as directed. The PB MLO is the point of contact assisting clients on the origination of residential mortgage loans, which includes providing analysis and advice to the High Net Worth clients and/or prospects on mortgage solutions to meet their needs and financial objectives. The PB LO is expected to spend at least a portion of their day in each one of their assigned branches each week. On non-branch days, the PB LO is expected to spend a portion of their day on location with their Private Bank partners. The PB MLO is expected to perform joint efforts with branch and/or private banking partners on increasing the mortgage opportunities within their existing client base, except as necessary to accommodate work commitments outside of the branch or outside of regular banking hours, which may necessitate a flexible work schedule. Any outside networking with outside referral sources should be handled in conjunction with the assigned branch partners and private banking relationship managers. The Private Banking MLO is expected to collaborate with the third party fulfillment company to meet the needs of our customers from the point of registration to closing. The Private Banking LO is expected to meet or exceed established sales, cross-sell, home equity and referral goals congruently with maintaining high standards of client satisfaction and quality. This position is expected to manage client referrals and cross sell opportunities ensuring all new customers are introduced to local Branch or Private Banking Relationship Managers. The Private Banking LO should maintain sales/originator systems and efficient work flows.
ESSENTIAL JOB FUNCTIONS
The role of the PB LO is to originate and process 1-4 family residential real estate mortgage in accordance with Key Bank Mortgage’s process and product guidelines. The PB LO is responsible for gathering documents at the time of registering a loan and is expected to remain, along with the loan processor, the point of contact for the customer during the duration of the loan. This person is to maintain high standards of client satisfaction and quality, ensure sales/originator systems and work flows are efficiently controlled. The PB LO also is responsible for managing client referrals and the cross sell process ensuring all new customers are introduced to local Branch and Private Banking Relationship Managers. The PB LO is responsible for knowing all Federal Regulations and bank policies/procedures. As needed and in partnership with all bank partners, the PB LO is expected to help with joint calls with potential clients to develop new business both in person and over the phone. The PB LO is to keep informed of trends and developments in the real estate market and mortgage industry. In addition, the PB LO is to develop and maintain in-depth knowledge of products and services as well as knowledge of competitors and competitive products.
Meet with clients for mortgage opportunities as scheduled
Interact with all branch personnel
Interact with customer traffic. Make introductions and pass out business cards
Review Book of Business client profiles with retail partners to uncover mortgage opportunities
Discuss any cross sell opportunities discovered by LO
Review mortgage pipeline with Branch Manager and/or delegate, as directed by Branch Manager
For LOs who also call on Private Banking, a pipeline review should be held with PB RMs
Expedite loans in process by regularly reviewing pipeline, following up on documentation with borrowers, interacting with title companies, realtors, attorneys, etc.
Make outbound calls and engage in electronic communications to centers of influence (COI) for business development
1. Key at Work Calls: Make at least one Key at Work call with retail partners rotating among assigned branches.
4. Huddle Meetings: Attend at least one Huddle meeting per assigned Branch and present mortgage topic.
5. Production Reviews: Meet with Branch Manager to review mortgage production to goal results. Discuss and gain commitment on activities for success based on the annual mortgage production goal; what it will take to achieve; how many referrals are needed for each application, how many applications are needed for each closing. For LOs that also call on Private Banking, monthly production reviews should also be held with PB RMs.
6. Mortgage Day: Conduct one Mortgage Day each month, rotating among assigned Branches. Schedule two weeks in advance for event promotion by attending a huddle meeting to announce date and discuss event and providing flyers to Branch for event promotion. Determine snacks to be provided if applicable.
5. One on One: Meet with mortgage Sales Manager to review production results to goal and sales activities
• Five (5) years experience as a loan officer in 1st mortgage production
• At least one (1) year experience working with high net worth clients
• Proven ability to effectively manage high net worth client relationships
• Bachelor’s degree in business related field or equivalent experience.
• Possesses advanced technical knowledge and understanding of business tax returns, trusts, LLCs, and other asset protection tools used by high net worth clients
• A working knowledge of FNMA, FHLMC, FHA, VA, TIL regulations, Equal Credit Opportunity Act, RESPA regulations, local and state real estate and finance laws
• Excellent verbal and written communication skills and ability to work in a team environment
• Demonstrated strong customer service skills
• Proficient in sales and service skills; including tele-consulting, prospecting, networking and COI relationship management.
• Strong financial acumen
Employees in this job are required to comply with all rules and regulations of The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (The SAFE Act). Employees hired or transferring into this position will need to meet the qualification requirements, in Key's sole discretion, under Reg. Z, prior to acting as a loan originator in a consumer credit transaction secured by a dwelling. Qualification requirements include but are not limited to an assessment of overall financial responsibility, character, and general fitness through review of a criminal background check, credit report, and information about any administrative, civil, or criminal findings by any government jurisdiction.
Business Acumen: Know how businesses work; knowledgeable in current and possible future policies, practices, trends, and information affecting his/her business and organization; knows the competition; is aware of how strategies and tactics work in the marketplace.
Planning: Accurately scopes out length and difficulty of tasks and projects; sets objectives and goals; breaks down work into the process steps; develo
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $134.5 billion at March 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. KeyBank is Member FDIC.
ABOUT THE BUSINESS:
Key Community Bank serves individuals and small to midsized businesses from Maine to Alaska through our 15-state network of over 1,200 branches, 1,500 ATMs, telephone banking and robust online and mobile platforms. KeyBank’s Consumer/Business Banking segment provides consumers and small business owners with straightforward banking solutions and personal finance expertise that helps them make confident financial decisions today and plan for tomorrow. Key Private Bank offers wealth planning that follows a consistent, disciplined approach guided by objective advice based on each unique situation. KeyBank Commercial Bank offers midsize business financial services that drive growth and profitability and help business owners identify new opportunities with products and services including deposit, cash management, investment services, commercial lending, equipment leasing, and asset-based lending.
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.