Business Loan Underwriter III (Special Assets)

Navy Federal Credit Union•Pensacola, FL

9h•$78,400 - $123,200•Onsite

About The Position

Evaluates and underwrites business loan applications, gathers and reviews supporting information, and completes financial analysis to assess creditworthiness and manage risk exposure in Navy Federal’s business loan portfolio. The role structures and decides business credit deals, approves or declines applications within assigned authority, and presents loan packages beyond that authority to senior management. It also assists with loan closing and monitors borrowers’ subsequent financial information in accordance with applicable state and federal requirements. The position handles credit applications across all levels of complexity, including SBA, participation, and multi-million-dollar commercial real estate loans. It uses advanced knowledge of industry standards, regulations, underwriting tools, and traditional methods to assess risk, develop alternative deal structures, address complex exceptions, and provide expert guidance. The role also supports underwriting operations, reporting, mentoring, compliance coordination, and maintenance of underwriting resources. Travel and nationwide training may be required.

Requirements

Excellent understanding of business underwriting principles and concepts.
Familiarity with methods used to derive a business’s cash market value and with the differences among operating, investing, and financing cash flows.
Working knowledge of how to collect underwriting information and evaluate risks associated with different types of businesses.
Excellent understanding of financial ratios and concepts, including liquidity, leverage, coverage, and operating ratios, as well as trend and cash flow analysis.
Advanced knowledge of database, word-processing, and SBA industry systems.
Proficiency with Microsoft Word and Excel or related software applications.
Thorough knowledge of and extensive experience in credit union or retail banking operations.
Familiarity with Navy Federal Credit Union policies and procedures.
Exceptional interpersonal, verbal, and written communication skills.
Excellent analytical and organizational skills.

Responsibilities

Analyze applicants’ financial status, credit, and businesses to determine whether credit should be granted.
Work with the development team and business members to obtain appropriate supporting data.
Review loan applications for required documents and validate data integrity.
Assess borrower creditworthiness through qualitative and quantitative analysis of financial statements, credit reports, ratios, and other relevant information.
Propose or determine deal structures and appropriate financial, operational, or capital/cash covenants based on risk.
Analyze counteroffers, exceptions, and rejections, and recommend alternative business products when appropriate.
Present loan packages and recommendations to senior business lending management when they exceed the underwriter’s approval authority.
Review annual financial statements and tax returns for adherence to Navy Federal, SBA, and industry requirements; analyze tax statements independently of scoring systems to assess viability.
Rate credit risk and recommend actions to mitigate risk to the credit union.
Approve or decline submissions within assigned authority and authorize disbursements when documentation and applicable requirements are satisfied.
Prepare adverse-action notifications on behalf of the Business Lending Committee in accordance with the Equal Credit Opportunity Act (Reg B).
Support business loan underwriting functions, respond to underwriting questions, and help maintain the underwriting manual.
Monitor underwriting activities and respond to inquiries through telephone, instant messages, or mail.
Collaborate with managers and participate in mentoring sessions for other business units.
Provide daily input to management reports and assist with or complete the monthly Colson report for the SBA program.
Underwrite credit applications of all levels of complexity, including SBA and participation loans, and develop acceptable alternative deal structures.
Use automated scoring systems, including Statement Analyzer or CASH, as well as traditional underwriting methods.
Respond to complex internal and external customer inquiries and communicate with members and others about complex or delicate matters.
Independently handle complex and large business loan applications, including multi-million-dollar commercial real estate and participation deals, and decide complicated exceptions.
Collaborate with Compliance Management on unique business loans, including regulatory waiver requests.
Maintain current knowledge of industry regulations and best practices.
May travel and train others nationwide; may provide division leadership in the Supervisor’s absence.
Perform other related duties as assigned or appropriate.