Sr Commercial Credit Underwriter

About the role

The Commercial Underwriter underwrites commercial business and real estate loan requests. The underwriter analyzes financial information, borrower and guarantor business and credit history, tenant leases, property condition reports and appraisals, market trends and conditions and recommends loan actions. The underwriter prepares loans for legal documentation and monitors the closing process. The underwriter follows up to ensure timely renewals, reporting requirements, and compliance with First Fed Bank policies and regulatory guidelines.

Responsibilities

• Perform credit analysis and underwrite commercial loan applications received by Relationship Managers to determine eligibility of request, ensuring compliance with First Federal Lending policies and regulatory guidelines.
• Review and evaluate credit data provided by commercial loan requests and analyze annual financial data and sources of financial information to determine profitability and qualification of loan.
• Perform all key ratios to determine borrower/project strength and compliance with First Federal commercial credit policies and procedures.
• Analyze loan collateral including property condition reports and overall strength of the borrower/applicant. Recommend the addition of collateral, guarantors, or alternative loan terms or underwriting enhancements as necessary.
• Recommend the terms of conditions and covenants of the Business Loan Agreement for each loan.
• Prepare the loan presentation document to support and evaluate the loan request, determine credit quality for loan grading purposes, make recommendations, and identify the potential risks associated with the proposed credit.
• Discuss any adverse credit issues with the Credit Administrator.
• Define loan documentation requirements for transactions, review existing loan documentation for validity, in relation to each credit reviewed.
• Ensure all due diligence and background evaluation is complete and thorough before credit approval is granted.
• Coordinate with the Relationship Manager and/or their support staff to ensure the required financial information required for the loan is collected from the borrower and prepared in proper format.
• Ensure that Risk Rating Worksheets are prepared in an accurate and timely manner.
• Review all property inspections prepared by the Relationship Managers.
• Perform annual risk assessments on existing credits in accordance with defined policy and schedule.
• Work with relationship manager of account to obtain current financial information on borrower and any guarantors. Using defined analysis format, document results of analysis highlighting areas of developing concern that will be discussed with Credit Administrator, Chief Credit Officer, and the Relationship Manager.
• Prepare final risk rating document including the assessment of the risk grade to be assigned to credit/relationship.
• Maintain current working knowledge of commercial lending industry, which, may include the following: Independently research and analyze company and industry data, including state, local and federal publications, and newspapers. Participate in training to enhance financial analysis skills.
• Maintain business, collateral, Real Estate and industry knowledge through education and reading material.
• Ensure compliance with Bank Secrecy Act (BSA) regulations and other federal and state regulations pertinent to this position.
• Complete annual BSA training in a timely manner in accordance with BSA regulations and internal policies and procedures.
• Perform related duties and responsibilities as required.

Requirements

• Undergraduate degree in Finance, Business Administration or Accounting, or related work experience.
• Commercial Credit Underwriter I - Typically requires accounting and financial analysis skills as developed through a combination of Bachelor’s Degree and related work experience. This is typically a nonexempt position with 1 to 2 years of relevant banking experience.
• Commercial Credit Underwriter II - Typically requires accounting and financial analysis skills as developed through a combination of Bachelor’s Degree and related work experience. This is typically an exempt position with 3 to 4 years of relevant banking experience.
• Senior Commercial Credit Underwriter - Typically requires demonstrated accounting and financial analysis skills as developed through a combination of Bachelor’s Degree and related work experience. Incumbent may be considered a subject matter expert (SME) based on demonstrated experience commercial loan underwriting processes and requirements. May provide work direction to others as needed. This is typically senior level exempt position requiring 5 or more years of relevant banking experience.
• Established knowledge of financial accounting theory and logic, loan structuring, commercial products and services.
• A proven ability to interpret and discuss analytical data and make credit recommendations to Senior Management and/or Risk Management on strategic issues or initiatives.
• High level of accuracy, organization skills and attention to detail is required.
• Excellent credit analysis, accounting and mathematical skills are required.
• Ability to handle pressure and remain adaptable in a fast-paced, changing work environment.
• Ability to complete a high volume of work efficiently and with accuracy.
• Ability to assume responsibility and accountability for decision making required.
• Demonstrated ability to work effectively and independently, as well as work in teams and interact effectively with all levels of bank personnel and outside contacts.
• Excellent organizational skills with efficient work demeanor that allows involvement in multiple areas.
• Excellent verbal and written communication skills are necessary.
• Ability to utilize personal computers, and Windows-driven programs, with an emphasis on the Microsoft Office suite of applications, specifically Word and Excel.
• Ability to develop and maintain a working knowledge of First Federal policies, procedures, and systems.

Qualifications

• Undergraduate degree in Finance, Business Administration or Accounting, or related work experience.
• Commercial Credit Underwriter I - Typically requires accounting and financial analysis skills as developed through a combination of Bachelor’s Degree and related work experience. This is typically a nonexempt position with 1 to 2 years of relevant banking experience.
• Commercial Credit Underwriter II - Typically requires accounting and financial analysis skills as developed through a combination of Bachelor’s Degree and related work experience. This is typically an exempt position with 3 to 4 years of relevant banking experience.
• Senior Commercial Credit Underwriter - Typically requires demonstrated accounting and financial analysis skills as developed through a combination of Bachelor’s Degree and related work experience. Incumbent may be considered a subject matter expert (SME) based on demonstrated experience commercial loan underwriting processes and requirements. May provide work direction to others as needed. This is typically senior level exempt position requiring 5 or more years of relevant banking experience.
• Established knowledge of financial accounting theory and logic, loan structuring, commercial products and services.
• A proven ability to interpret and discuss analytical data and make credit recommendations to Senior Management and/or Risk Management on strategic issues or initiatives.
• High level of accuracy, organization skills and attention to detail is required.
• Excellent credit analysis, accounting and mathematical skills are required.
• Ability to handle pressure and remain adaptable in a fast-paced, changing work environment.
• Ability to complete a high volume of work efficiently and with accuracy.
• Ability to assume responsibility and accountability for decision making required.
• Demonstrated ability to work effectively and independently, as well as work in teams and interact effectively with all levels of bank personnel and outside contacts.
• Excellent organizational skills with efficient work demeanor that allows involvement in multiple areas.
• Excellent verbal and written communication skills are necessary.
• Ability to utilize personal computers, and Windows-driven programs, with an emphasis on the Microsoft Office suite of applications, specifically Word and Excel.
• Ability to develop and maintain a working knowledge of First Federal policies, procedures, and systems.

Benefits

• Medical, dental, and vision insurance.
• Paid time off.
• Retail 401(k) with company match and Employee Stock Ownership Plan.
• Gym membership reimbursement.
• Discounts on banking products.

Pay

The pay range for the Senior Commercial Credit Underwriter position is $80,200 - $122,444.61. The typical hiring range for this position is $80,200 - $82,650.11. The incentive plan for this position is the Partnership Incentive plan. It is paid out quarterly with a 7.5% target payout. Employees will be eligible for our benefits package including medical, dental, and vision insurance, paid time off, retirement plans (401k with company match and Employee Stock Ownership Plan), gym membership reimbursement, discounts on our banking products, and more!

Schedule

Regular and predictable attendance is required.

Equal Opportunity Employer

We are passionate about hiring the very best talent and welcome applicants from all backgrounds. Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities.