Consumer Loan Underwriter

Wintrust•Rosemont, IL

3d•Onsite

About The Position

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses. Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots. We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois. Our people are the heart of our business and we are proud to rank consistently as a top place to work. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol “WTFC.” Why join us? An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 12 years) and Employee Recommended award by the Globe & Mail (past 6 years) Competitive pay and discretionary or incentive bonus eligible Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few Family-friendly work hours Promote from within culture Why join this team? Great opportunity to work in a small business lending segment Opportunity to create value by providing your innovative ideas You come to join focused, highly collaborative team at a great company Position Summary The Consumer Loan Underwriter is responsible for processing applications, underwriting loans, and recommending loan decisions based on established credit policies, procedures, and regulatory requirements. This role ensures sound lending decision while balancing risk, compliance, and customer experience. Underwriter is responsible to resolve any discrepancies or issues identified in file, in a timely and professional manner in order to be able to determine loan decision. This individual must possess excellent organization skills, problem solving skills, and must be able to work in a fast-paced environment.

Requirements

3-5 years of relevant experience.
Must possess knowledge and understanding of consumer lending, loan terms, credit underwriting, and consumer lending regulations.
Strong written and verbal communication and organizational skills, with the ability to effectively multi-task.
Bachelor’s degree preferred.

Responsibilities

Verify accuracy and completeness of application information and supporting documents (all required signatures obtained, financial information received, collateral qualifies, purpose of the loan is permissible, insurance received, etc.)
Complete all required due diligence that consists of but is not limited to: fraud, BSA and MLA screening, borrower’s eligibility to borrow, verify income, verify length of employment, bank relationship, etc.
Issue Incomplete Letter, if required to obtain additional information form borrowers.
Assess applicant’s creditworthiness using credit reports, application information, and income documentation to calculate debt to income ratio, calculate loan to value ratio, and determine overall risk of the applicant.
Must be able to identify alternative financing options for borrowers that do not qualify for their original requests
Determine loan decisions such as approval, denial, counteroffer, or approval with condition and ensure these are completed in a timely manner following regulatory requirements.
Present loan decisions in accordance with established procedures and underwriting criteria applying delegated credit authorities per Wintrust policies.
Issue corresponding adverse action notices when and if required.
Maintain detailed and accurate records of decisions and supporting analysis.
Ensure adherence to established policies and procedures, as well as maintenance with service level agreements.
Work closely and provide support to all affiliated charters to help build strong relationships with customers.