Specialty (SBA) Credit Underwriter II/Specialty (SBA) Sr. Credit Underwriter

Bank of America • Phoenix, AZ

1d • $91,500 - $150,000 • Onsite

About The Position

The Specialty Channel Underwriter is responsible for underwriting, structuring, and approving credit actions for new and existing Small Business Administration (SBA) credit requests. The role exercises single-signature approval authority for credit exposure within applicable approval grids. Credit decisions must meet underwriting quality and risk management standards and comply with bank and SBA policies and procedures. The underwriter is expected to work independently and make timely, efficient credit decisions. The role may also participate in projects and initiatives that support organizational strategic objectives. It reports to the Specialty Credit Manager supporting Small Business Administration.

The position is based at Bank of America Tower in Chicago, Illinois. It is a first-shift role scheduled for 40 hours per week. The stated annual pay range is $91,500 to $150,000, with offers determined by experience, education, and skill set. The role is eligible for an annual discretionary incentive plan and benefits, including paid time off.

Requirements

• At least 5 years of commercial underwriting and credit analysis experience, such as in Business Banking, Middle Market, or Leveraged Finance.
• Formal commercial credit training or equivalent work experience.
• Industry knowledge across multiple sectors.
• Prior experience in a high-volume production environment.
• Superior teamwork skills in the commercial market space.
• Strong communication skills, including the ability to communicate vertically, horizontally, and externally.
• High school diploma, GED, secondary school, or equivalent.

Nice To Haves

• At least 2 years of SBA lending experience is preferred.
• Bachelor’s degree or equivalent work experience, preferably in business administration, finance, accounting, or economics.

Responsibilities

• Analyze, underwrite, and approve credit solutions for existing and new clients, including SBA requests within the applicable credit approval grid.
• Conduct credit analysis, including financial spreads, risk-rating scorecards, industry assessment, business and personal cash flow analysis, and completion of Credit Approval documentation.
• Evaluate creditworthiness and provide analysis and decisions on whether clients should be approved for SBA credit facilities.
• Ensure underwriting complies with Bank credit policy and procedures and Small Business Administration SOP.
• Partner with Relationship Managers, Solution Advisors, Commercial Business Development Officers, and Risk teammates to assess and deliver SBA credit solutions.
• Ensure the quality of credit-related client and deal information.
• Mentor and assist junior team members as applicable.
• Participate in projects and initiatives that support organizational strategic objectives, as applicable.

Benefits

• Benefits eligibility.
• Access to paid time off.
• Eligibility to participate in an annual discretionary incentive plan, with awards based on individual performance and behaviors, line-of-business or group performance and contributions, and overall company success.
• Affordable, competitive, and flexible benefits supporting physical, emotional, and financial wellness.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: High school or GED