Commercial Credit Underwriter, SBB

Live Oak Banking • Wilmington, NC

1d

About The Position

Live Oak Bank is a digital bank serving small business owners nationwide. The Commercial Credit Underwriter analyzes lending opportunities to determine whether they represent prudent loans for both the Bank and the borrower, helping move deals from proposal to closing. In accordance with established lending policies and procedures, the role develops expertise in examining, evaluating, and closing commercial extensions of credit, and may request information needed for loan applications. The underwriter provides responsive customer service and promotes the Bank’s services to current and potential customers.

The role works in partnership with Loan Officers and other lending, portfolio management, and closing colleagues. It is responsible for analyzing borrower financials and preparing credit materials, reviewing and negotiating loan documentation through closing, and supporting post-closing portfolio activity. Lending opportunities include commercial real estate (CRE) and commercial and industrial (C&I) products. The underwriter also develops knowledge of the Bank’s lending products, policies, procedures, regulatory requirements, and market and industry trends.

Requirements

• Bachelor’s degree or equivalent experience.
• Credit underwriting, credit analyst, or similar experience.

Responsibilities

• Spread and analyze borrower financials and work with Loan Officers to create appropriate credit overview materials.
• Review, manage, and negotiate loan documentation through closing, with support from management, Senior Underwriters, and Loan Officers as needed.
• Assist with post-closing deals, including supporting the Portfolio Analyst team and assisting with loan upsizes and modifications.
• Participate in strategic initiatives and projects that support growth of Conventional volume within SBB.
• Work with Loan Officers to complete application underwriting, including analysis of applicants’ financial status, credit, and property evaluation against the Bank’s lending criteria.
• Conduct customer interviews during applicable on-site visits, assess customers, and resolve outstanding transaction questions.
• Develop expertise in the Bank’s loan systems and credit box, and ensure analysis and presentation are consistent with Bank expectations for similar products.
• Prepare detailed Credit Memoranda and assist Loan Officers with presentations to Credit and Executive Loan Committee, as applicable.
• Perform financial analysis and modeling for new lending opportunities and existing clients across products, including CRE and C&I.
• Coordinate pre-closing activities and loan documentation review and negotiation with lending and closing departments.
• Develop knowledge of banking and lending products, policies, procedures, regulatory requirements, and market and industry activities and trends.
• Support lending and portfolio management teams with monitoring current loans and credit lines, financial performance updates, and portfolio reviews.
• Maintain awareness of regulatory requirements, including BSA, AML, CIP, and OFAC.
• Perform other related duties as assigned or requested.
• Promote the Bank’s services to current and potential customers and provide friendly, courteous, and responsive service.

Benefits

• Paid sick leave at least at applicable state minimum requirements for employees residing in states that require employer-paid sick leave.
• Annual bonuses and long-term incentives may be included in compensation, subject to metrics and company policy.

What This Job Offers

• Job Type: Full-time