Associate Underwriter, SBB
About The Position
The Associate Underwriter, SBB analyzes deals to determine if they are prudent loans for the Bank and the borrower. The Associate Underwriter role impacts the Bank by fulfilling a critical part of the loan process to move deals from proposal to credit approval. In accordance with established lending policies and procedures, and under the guidance of the Underwriting Team Manager develops an understanding in examining, evaluating, and closing commercial extensions of credit. May request specified information for loan application. Develops customer relationships through friendly, courteous, and responsive service. Develops understanding of commercial lending policies and SBA Program rules and procedures. Promotes Bank’s services to current and potential customers.
Requirements
- Bachelor's degree or equivalent experience
Nice To Haves
- Banking experience
Responsibilities
- Works with an experienced Loan Officer to complete the underwriting of the application to include the analysis of applicants' financial status, credit, and property evaluation to determine if loan requests meet the bank's and SBA’s lending criteria
- Evaluates the sources of repayment on loan requests and does a competition analysis
- Develops an understanding of bank policies and procedures as well as SBA standards and SOP's; reviews the loans for SBA eligibility and verifies same
- Completes the customer interview; makes an assessment of the customer and resolves outstanding questions related to the transaction
- Develops expertise in use of Bank loan systems. Ensures that all documents required for the credit approval of the loan transaction are uploaded to Bank’s Loan Origination System
- Responsible for preparing the Credit Memorandum detailing the loan request, completing personal and business financial analysis for credit worthiness, and complying with banking regulatory guidelines, as applicable
- Submits the loan request to Credit Administration to secure approval for the transaction. Works closely and directly with the credit officer, answers questions about the loan and the customer which allows the credit officer to become comfortable with the request
- Evaluates third party appraisal(s) on real estate, business valuation(s) and environmental assessment(s). Reviews documentation upon completion for compliance with loan conditions
- Initial focus is on achieving Underwriter Certification, where every deal completed is reviewed by their manager or an Underwriting Review Specialist; once certified, deals go straight to credit administration for review and decisioning
- Once Certified, the focus shifts to proving ability to maintain a full underwriter pipeline over multiple consecutive quarters
- As part of maintaining a full pipeline, Associate Underwriters are also expected to become proficient in the Closing process; this means demonstrating proficiency in change memos, working with Closers, and navigating the various issues that arise during the Closing stage
- Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC
Benefits
- Paid sick leave
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What This Job Offers
Job Type
Full-time
Career Level
Entry Level
