Commercial Loan Underwriter

Charles Schwab • Westlake, TX

166d

About The Position

At Schwab, you're empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us 'challenge the status quo' and transform the finance industry together. We believe in the importance of in-office collaboration and fully intend for the selected candidate for this role to work on site in the specified locations. The Community Development Group of Charles Schwab Bank is seeking a Manager, Lending. This position is responsible for working closely with the Director of Lending to implement the Bank's Community Reinvestment Act (CRA) eligible loan products and programs by originating, underwriting and closing a variety of community development loans consisting primarily of loans to Community Development Financial Institutions (CDFIs) and other financial intermediaries. The Manager will also assist in maintaining internal and external relationships with community development intermediaries; analyzing and approving changes to existing investments or consents for new underlying investments; and assisting with day-to-day oversight of the investment portfolio. This position is responsible for the credit quality of new CRA-eligible investments closed and for evaluating the credit risk, obtaining credit approvals, and overseeing the closing process for proposed loans. The Manager interacts and effectively communicates with clients, internal community development services team, portfolio managers, risk management partners, and other partners across the Bank and the firm, including business, finance, treasury, and accounting. Works with Director of Lending to review, analyze, underwrite and manage through the closing process CRA eligible loan opportunities in the Bank's Assessment Areas, with particular emphasis on loans to CDFIs. Collects borrower due diligence, including financial reports, loan policies & procedures, organizational documents, and other information required to underwrite an organization. Prepares underwriting memorandums, interim reviews, and recommendations for loan committee approvals. Maintains proficient knowledge of rules and regulations, including but not limited to, the Community Reinvestment Act. Works with the Director of Compliance and the Director of Lending to ensure loans qualify under CRA guidelines. Maintains active relationships with business partners, including banks, Community Development Financial Institutions, affordable housing lenders, and community organizations. Adheres to all community development loan and investment policies and procedures to ensure consistency with actual processes. Keeps abreast of market changes and product offerings needed to remain current and competitive. Responds to community development and CRA-related business issues as they arise.

Requirements

• 5 years banking experience in community development finance, real estate finance or corporate finance.
• Strong background in transactional work, preferably both debt and equity.
• Strong analytical and deal execution skills.
• Ability to manage multiple client relationships and transactions.
• Strong attention to detail and excellent analytical and quantitative skills.
• Proficiency in Microsoft Excel and other Microsoft Office products.
• Familiarity with GAAP accounting and financial analysis.
• Experience working with local and national CDFIs and non-profit organizations.
• Experience managing relationships with CDFIs and other nonprofit borrowers.
• Excellent oral and written communication skills.
• Project management skills.
• Self-driven team player with ability to complete tasks under a deadline.

Nice To Haves

• Experience in real estate and/or intermediary experience preferred.
• Superior judgment and excellent communication skills to interact with internal business leaders.

Responsibilities

• Work closely with the Director of Lending to implement CRA eligible loan products and programs.
• Originate, underwrite, and close a variety of community development loans.
• Assist in maintaining relationships with community development intermediaries.
• Analyze and approve changes to existing investments or consents for new underlying investments.
• Assist with day-to-day oversight of the investment portfolio.
• Evaluate credit risk, obtain credit approvals, and oversee the closing process for proposed loans.
• Collect borrower due diligence including financial reports and organizational documents.
• Prepare underwriting memorandums, interim reviews, and recommendations for loan committee approvals.
• Maintain knowledge of rules and regulations, including the Community Reinvestment Act.
• Work with the Director of Compliance to ensure loans qualify under CRA guidelines.
• Maintain relationships with banks, CDFIs, affordable housing lenders, and community organizations.
• Adhere to community development loan and investment policies and procedures.
• Keep abreast of market changes and product offerings.
• Respond to community development and CRA-related business issues.

Benefits

• Eligible for bonus or incentive opportunities.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Industry: Securities, Commodity Contracts, and Other Financial Investments and Related Activities