Commercial Loan Underwriter

Salt Lake City, Utah • Full-time • Monday - Friday 8:30 AM - 5:00 PM

About the role

The Commercial Loan Underwriter reports to the Vice President of Commercial Lending and is responsible for underwriting new commercial loan requests, modifications of existing loans, and annual reviews of existing loans within the portfolio, ensuring compliance with all federal regulations and laws.

Responsibilities

• Work closely with commercial loan officers, borrowers, and guarantors to obtain relevant documentation for evaluating commercial loan requests.
• Conduct in-depth reviews of loan application documents, including rent rolls, leases, balance sheets, income statements, and tax returns to assess the borrower’s ability to generate income sufficient to repay existing and proposed debt.
• Prepare written proposals summarizing the borrowing request, financial condition of the borrower, adequacy of collateral, sources of repayment, stress testing, industry comparisons, management experience, and provide recommendations based on analysis.
• Spread and analyze personal and business financial statements.
• Complete quality assurance reviews and make risk rating and structuring recommendations.
• Actively participate with lending officers in preparing commercial loan proposals for committee presentation.
• Perform annual reviews or financial analysis reviews on existing commercial loans as needed.
• Review appraisals, inspections, environmental, or other reports and advise on notable findings.
• Assist management in reviewing and approving small business loans prepared by loan processors, within level of authority.
• Assume additional responsibilities as requested.

Requirements

• Bachelor’s degree with emphasis on accounting, finance, economics, or business, or equivalent experience.
• 5+ years of commercial credit analysis and underwriting experience in all loan types in a banking or credit union environment.
• Prior extensive experience underwriting the following types of credits:
  • Commercial Real Estate (Owner-Occupied and Non-Owner-Occupied).
  • Asset-based lines of credit.
  • Commercial development loans.
  • Residential development loans.
  • Land acquisition loans for commercial purposes.
  • Vertical construction loans (Builder Single-Family Residence, Builder Multi-Family projects, and various commercial asset classes including industrial, retail, hospitality, self-storage, office, assisted/skilled nursing, etc.).
• Ability to separate and understand various elements of financial statements and tax returns, including construction cost breakdowns, to determine the probability that loan conditions will be met.
• Strong analytical, critical thinking, and decision-making skills.
• Knowledge of commercial products, market trends, commercial loan procedures, and related federal regulations.
• Advanced skills with Microsoft Office Suite (Outlook, Word, Excel).
• Excellent written and verbal communication skills.
• Ability to perform credit analysis with or without the assistance of a commercial loan origination system.
• Ability to multitask, prioritize, work independently, and meet strict deadlines.
• Good credit history.

Pay

$29 - $36 per hour (higher compensation may be considered based on experience, qualifications, and internal equity).

Benefits

Chartway offers a competitive salary and a comprehensive benefits package.