SBA Senior Underwriter

Grasshopper Bank•New York, NY

1d•Remote

About The Position

Grasshopper Bank is a client-first, digital bank built for the business and innovation economy, with an obsession for providing leading-edge technology, solutions-driven products and superior service through a combination of passionate people and digital resources. We are a highly experienced team who pride ourselves on diversity of thought and perspective. Nationally chartered, our portfolio of products and services range from VC, PE & Portfolio Companies to SBA Lending, as well as direct SMB and Embedded Banking. Our entrepreneurial drive allows us to support the growth and success of a wide range of clients at every stage of their business through inclusive partnership. We seek out team members who will enable both our organization and our people to grow and thrive through collaboration and acting with integrity and respect. Our focus on cross-functional teamwork provides a culture where ideas are valued, accountability is encouraged, and successes are celebrated. We welcome all those searching for the opportunity to contribute to banking innovation that influences and supports the emerging digital world of Financial Services. Our digital first approach enables our teams the flexibility to work remotely. We have offices in NYC and Boston. The SBA Underwriter will be responsible for evaluating Small Business Administration (SBA) loan applications based on established Grasshopper Bank credit criteria and SBA Standard Operating Procedures. The SBA Senior Underwriter is responsible for reviewing SBA credit applications and recommending a decision to team leadership. Elements of this role include but are not limited to preparing credit memos, recommending appropriate structural changes as needed, ordering and reviewing third party reports, reviewing and determining SBA eligibility, reviewing application-specific documents such as management agreements, leases, landlord waivers, and all other tasks as assigned. This position will also work directly with business development officers and closers to assist borrowers until loan funding.

Requirements

Bachelor’s degree (B.A.) from four-year college or university; or a minimum of five years of bank credit department experience; or equivalent combination of education and experience.
Prior SBA underwriting experience is required.
At least 5 years of commercial credit experience.
Strong proficiency in accounting.

Nice To Haves

At least 3 years of SBA 7a loan underwriting experience.
Working knowledge of SBA SOP 50 10.
NAGGL/SBA Industry educational classes.

Responsibilities

Evaluate Small Business Administration (SBA) loan applications based on established Grasshopper Bank credit criteria and SBA Standard Operating Procedures.
Review SBA credit applications and recommend a decision to team leadership.
Prepare credit memos.
Recommend appropriate structural changes as needed.
Order and review third party reports.
Review and determine SBA eligibility.
Review application-specific documents such as management agreements, leases, landlord waivers, and all other tasks as assigned.
Work directly with business development officers and closers to assist borrowers until loan funding.
Conduct in-depth analysis of financial information to form a recommendation of approval or denial of new loans.
Collect, analyze and evaluate financial and related data to determine credit worthiness of loan prospects and merits of specific loan requests.
Collaborate with sales officers, applicants, and referral sources to gather all necessary information to present an accurate and complete picture of the loan request.
Interface directly with applicants to understand their needs as well as the specific risks to their businesses.
Perform comprehensive financial analysis, including cash flow modeling, to determine creditworthiness as well as SBA eligibility.
Prepare high quality, detailed credit approval documents that contain an in-depth analysis and an understanding and identification of credit issues and risks.
Outline the risks and mitigating factors of a credit facility based upon the analysis of business and personal financial statements, collateral, global cash flow, economic and industrial factors and debt service capacity.
Meet or exceed service level agreements and timeline expectations throughout the process.
Provide credit and loan underwriting expertise to sales officers.
Recommend terms under which credit will be extended, including the costs, repayment method, and collateral requirements.
Assignment of accurate risk ratings for new loans.
Support the Bank's strong relationship banking culture through ongoing customer contact, quality customer service, and superior product knowledge.
Understand and adhere to the Bank's Bank Secrecy Act policy and procedures and "know your customer/enhanced due diligence" guidelines.
Bring any suspicious activity to the attention of a supervisor, or the Bank Secrecy Act Officer.