Sr. Underwriter, Commercial Lending

OceanAir Federal Credit Union•San Diego, CA

40m

About The Position

Join the OceanAir Crew! Are you a sharp financial mind who loves digging into the details and making smart, sound credit decisions? OceanAir Federal Credit Union is searching for an experienced Commercial Underwriter (CRE) to help power our Commercial Lending team and support our mission of helping members and communities thrive. If you enjoy analyzing complex deals, collaborating with cross-functional teams, and balancing risk with opportunity, this role is your chance to make a real impact—while riding the OceanAir wave. PRIMARY PURPOSE: As a Commercial Underwriter, you’ll be a key player in evaluating and managing risk across our Commercial Real Estate (CRE) loan portfolio. Reporting to the VP of Commercial Lending, you’ll analyze creditworthiness, structure sound loan decisions, and support a wide range of CRE asset types including retail, industrial, multi-family, medical office, and self-storage. Your goal? Deliver thorough, high-quality underwriting that supports responsible growth and an exceptional member experience.

Requirements

Strong expertise in Commercial Real Estate underwriting and credit risk analysis.
Advanced understanding of financial statements, cash flow analysis, and financial modeling.
Excellent analytical, organizational, and problem-solving skills.
Clear, professional written and verbal communication skills.
Ability to collaborate effectively while also working independently.
High attention to detail, strong work ethic, and commitment to confidentiality.
Tech-savvy with proficiency in Microsoft Office (especially Excel) and underwriting systems.
Knowledge of BSA/AML/OFAC regulations as they apply to commercial lending.
Bachelor’s degree in Finance, Business Management, Accounting, or a related field.
Minimum of 7 years of Commercial Real Estate underwriting experience.

Responsibilities

Practice OceanAir’s Core Values:
Make It Right – We do what’s right for our members, our credit union, and our community.
Make It Easy – We provide clear solutions, efficient service, and streamlined processes.
Make It Personal – We build strong relationships rooted in individual member needs.
Underwriting & Credit Analysis:
Perform comprehensive financial analysis for CRE transactions, including property evaluation, borrower and guarantor review, global cash flow analysis, and collateral assessment.
Analyze financial statements, rent rolls, leases, operating statements, market trends, and industry conditions.
Determine appropriate risk ratings and ensure credit decisions align with policy and regulatory standards.
Review commercial appraisals, third-party appraisal reviews, and environmental reports to assess risk.
Portfolio Management & Collaboration:
Conduct periodic loan reviews and ongoing portfolio underwriting to maintain credit quality and compliance.
Prepare detailed Credit Approval Memorandums with financial models, loan structure analysis, and risk considerations.
Work closely with Commercial Lending leadership, Credit, Legal, Compliance, and Operations teams throughout the origination and closing process.
Assist with satisfying loan closing requirements and reworking loan terms when necessary.
Quality, Compliance & Growth:
Ensure underwriting adheres to internal credit policies, regulatory requirements, and sound risk practices.
Maintain strong working knowledge of loan products, underwriting guidelines, and risk assessment tools.
Meet service-level expectations for decision turnaround times with consistent accuracy and attention to detail.
Support the development of policies, procedures, and new products.
Perform other awesome duties as assigned!