LOAN OPERATIONS MANAGER

State of Illinois; Springfield (IL); Hybrid; USD 96,000 - 100,000; Full time

Benefits offered by this job

Health insurance

Paid time off

Flexible work schedules

Retirement plan

Job summary

The State of Illinois, Department of Commerce and Economic Opportunity, is seeking a Loan Operations Manager to support the Advantage Illinois Participation Loan and Loan Guarantee Programs. This role will oversee loan enrollments, payments, and funding, and supervise the Loan Operations Team to meet regulatory requirements.

Qualified candidates have a four-year college degree, several years of administrative and supervisory experience, and a background in loan administration.

Qualifications

• Requires completion of four years of college.
• Three years of progressively responsible administrative experience.
• Three years of supervisory experience.

Responsibilities

• Directs the administration of loan enrollments and loan payments/funding.
• Evaluates the eligibility of credit proposals.
• Establishes departmental goals and procedures for the Loan Operations Team.
• Serves as full-line supervisor.
• Performs other duties within the scope of the listed duties.

Skills

Administrative experience

Supervisory experience

Loan administration

Education

Four-year college

Tools

Loan management system

Loan documentation systems

Job description

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We continually strive for a workforce that reflects the growing diversity within the State of Illinois. A variety of employee backgrounds, perspectives, ideas and experiences are crucial to our ability to most effectively serve the public. Bilingual skills welcome

Reasonable Accommodation Statement

The State of Illinois is committed to working with and providing reasonable accommodations to people with disabilities. Further, federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job, interview for a job, or for any other activity related to the hiring process. Examples of reasonable accommodation include, but are not limited to, making a change to the application process (if possible), providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.

To be provided a Reasonable Accommodation during the hiring process, you will need to provide a certification of disability from a physician, psychiatrist, school official or an Illinois Department of Human Services (DHS) Division of Rehabilitation Services (DRS) Vocational Rehabilitation (VR) Counselor. Supporting documentation should be uploaded under My Documents → Additional Documents section for each application.

Any questions on Reasonable Accommodations can be directed to Central Management Services Disability Resource Center at [e-mail] or call [phone] for further information and to request or discuss an accommodation.

Sponsorship for Employment

The State of Illinois does not provide sponsorship for employment visa status (e.g. H-1B visa status), nor is the State able to provide extensions of optional practical training (OPT) under the STEM-designated degree program for F-1 students. To be considered for permanent employment with the State of Illinois, applicants must be currently authorized to work in the United States on a full-time basis.

Disclosure of Salary Information

In compliance with the Illinois Equal Pay Act, 820 ILCS 112/1 et seq., the State does not seek, request, or require a job applicant’s wage or salary history. Employment decisions are not made based on an applicant’s wage or salary history. To that end, please do not include wage or salary information in your resume or other profile or application materials.

Job Requisition ID:59107
Opening Date: 10/09/2026
Closing Date: 10/26/2026
Agency: Department of Commerce and Economic Opportunity
Class Title:PUBLIC SERVICE ADMINISTRATOR - 37015
Skill Option:General Administration/Business Marketing/Labor/Personnel
Bilingual Option:None
Salary: Anticipated Starting Salary $8,571 - $9,000 monthly
Job Type: Salaried
Category:Full Time
Number of Vacancies: 1
Bargaining Unit Code:None
Merit Comp Code:Supervisory Exclusion from RC063 Collective Bargaining Coverage
Work Hours: Monday - Friday 8:30am - 5:00pm
Anticipated Hybrid Work Schedule Availability: 1 to 5 Days per week in office, depending on operational needs
Headquarter Location: 1020 S Spring St, Springfield, Illinois, 62704
Work County: Sangamon

A resume is highly encouraged to evaluate your qualifications and skills as part of your application. Please attach a DETAILED Resume/Curriculum Vitae (CV) to the MY DOCUMENTS section of your application if you decide to provide one.

***PLEASE UPLOAD A COPY OF YOUR UNOFFICIAL COLLEGE TRANSCRIPTS FOR VERIFICATION OF COURSEWORK***

Why Work for Illinois?

Working with the State of Illinois is a testament to the values of compassion, equity, and dedication that define our state. Whether you’re helping to improve schools, protect our natural resources, or support families in need, you’re part of something bigger—something that touches the lives of every person who calls Illinois home.

No matter what state career you’re looking for, we offer jobs that fit your life and your schedule—flexible jobs that provide the gold standard of benefits. Our employees can take advantage of various avenues to advance their careers and realize their dreams. Our top-tier benefits and great retirement packages can help you build a rewarding career and lasting future with the State of Illinois.

Position Overview

The Illinois Department of Commerce and Economic Opportunity (DCEO) is seeking to hire a Loan Operations Manager 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 w ill be responsible for supporting the administration and operations of DCEO’s Advantage Illinois Participation Loan and Loan Guarantee Programs. 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 Manager to help provide equitable and fair access to capital to businesses in Illinois.

Essential Functions

• Under direction, serves as Loan Operations Manager for the Advantage Illinois Participation Loan Program (PLP) and Loan Guarantee Program (LGP) and successor programs.
• Establishes departmental goals and procedures for the Loan Operations Team to align with organizational objectives and regulatory requirements.
• Serves as full-line supervisor.
• Directs the administration of and administers loan enrollments and loan payments/ funding.
• Evaluates the eligibility of credit proposals submitted to the Department.
• 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.
• Requires prior experience equivalent to three (3) years of progressively responsible administrative experience in a public or business organization.
• Requires three (3) years of supervisory experience.

Preferred Qualifications

• Prefers a minimum of three (3) years of professional experience preparing underwriting documentation and reviewing loan applications, promissory notes and/or loan closing documents.
• Prefers a minimum of three (3) years of professional experience within the past ten years performing financial, administrative, or operational tasks associated with a participation loan program or a loan guarantee program.
• Prefers a minimum of two (2) years of professional experience in grant/loan administration.
• Prefers a minimum of two (2) years of experience utilizing a loan or grant management system to execute the lifecycle of loan or grant administration.
• Prefers a minimum of two (2) years of experience preparing written and verbal reports and performing descriptive data analysis, including managing and aggregating information to improve programs.
• Prefers 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.

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.
• This position has been found to meet the requirements in section 4A-101 of the Illinois Governmental Ethics Act requiring the occupant/employee to file a Statement of Economic Interest. The Illinois Governmental Ethics Act (5 ILCS 420/4A et seq.) requires certain state officials and employees to file annual Statements of Economic Interest with the Office of the Secretary of State that will be made available for examination and copying by the public. All employees required to file a Statement of Economic Interest are also required to file the Supplemental Statement of Economic Interest with the Executive Ethics Commission. (See Executive Order 15-09) Fines and penalties apply to untimely filings.
• 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.

As a State of Illinois employee, you will receive a robust benefit package that includes the following:

• Competitive Group Insurance Benefits including Health, Life, Dental and Vision Insurance
• 3 Paid Personal Business Days annually
• 12 Paid Sick days annually (Sick days carry over from year to year)
• 10-25 days of Paid Vacation time annually - (10 days in year one of employment)
• Benefit time modified for part-time, 12-hour, & non-standard work schedules (as applicable)
• 13 Paid Holidays annually, 14 on even numbered years
• Flexible Work Schedules (when available dependent upon position)
• 12 Weeks Paid Parental Leave
• Deferred Compensation Program - A supplemental retirement plan
• Optional Pre-Tax Programs such as Medical Care Assistance Plan (MCAP), Dependent Care Assistance Plan (DCAP)
• Federal Public Service Loan Forgiveness Program eligibility
• GI Bill®Training/Apprenticeship Benefits eligibility for qualifying Veterans
• 5% Salary Differential for Bilingual Positions

This position has been found to meet the requirements in section 4A-101 of the Illinois Governmental Ethics Act requiring the occupant/employee to file a Statement of Economic Interest. The Illinois Governmental Ethics Act (5 ILCS 420/4A et seq.) requires certain state officials and employees to file annual Statements of Economic Interest with the Office of the Secretary of State that will be made available for examination and copying by the public. All employees required to file a Statement of Economic Interest are also required to file the Supplemental Statement of Economic Interest with the Executive Ethics Commission. (See Executive Order 15-09) Fines and penalties apply to untimely filings.

Revolving Door:
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 main form of communication will be through email. Please check your “junk mail”, “spam”, or “other” folder for communication(s) regarding any submitted application(s). You may receive emails from the following addresses: