Commercial Loan Underwriter

First Utah Bank • Salt Lake City, UT

9d

About The Position

The Commercial Loan Underwriter reports directly to the Credit Department Manager. The role involves thorough assessment of financial statements, credit reports, and collateral to ensure the loan’s security and the bank’s profitability. The underwriter works closely with the loan officers, and loan processors to ensure compliance with lending policies and regulations.

Requirements

• 2 - 5 years previous Credit Analyst or loan underwriting experience.
• Proven experience in commercial lending or credit environment.
• Strong analytical skills and financial acumen.
• Knowledge of regulatory and compliance standards in commercial lending.
• Experience with SBA 7(a), Express, CAP Line and SBA/USDA eligibility and underwriting criteria.
• Strong attention to details, communication and decision-making skills.
• Microsoft Word and Excel capabilities.
• Ability to manage multiple loan files and deadlines simultaneously.
• Bachelor’s Degree in related field or equivalent work experience.

Responsibilities

• Credit Analysis: Analyze financial statements (income statements, balance sheets, cash flow) tax returns, and business plans to assess borrower’s creditworthiness.
• Risk Assessment: Evaluate collateral and conduct industry risk analysis to mitigate potential losses.
• Loan Structuring: At times assist in structuring loan terms and conditions based on the risk profile of the applicant and recommend appropriate loan products.
• Compliance: Ensure loan applications meet the bank’s lending policies, regulatory guidelines, and risk management procedures.
• Financial Projections: Assess future financial performance, assumptions, and cash flow forecast to determine repayment ability.
• Reporting: Prepare detailed well written credit approval documents (CAD) and risk assessment for senior loan committee members and or board members. Periodically attend loan committees.
• Credit Approvals: Make recommendations for loan approval or rejection.
• Collaboration: Work closely with loan officers, credit analysts, and if necessary, with legal to ensure smooth processing and risk management.
• Documentation Review: Ensure all necessary documentation is in place and accurate for loan closing and funding.
• Complete other general office duties.

Benefits

• Medical (low deductibles and employer pays 75% of premiums)
• Dental
• Vision
• 401k (5% employer match)
• FSA
• Company paid Life and Disability
• Paid Time Off
• 13 paid holidays (including your birthday)
• tuition reimbursement
• excellent work/life balance
• employee events!

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level