Small Business Underwriter

2 weeks ago

Elmwood Park, United States Spencer Savings Bank Full time
Job DescriptionJob Description


BASIC FUNCTION

Responsible for underwriting for the company and evaluating small business lending applications originated by the Retail department and Small Business Relationship Managers.



MAJOR RESPONSIBILITIES


1. Processes, underwrites and evaluates (approve/decline) credit applications sourced from the company’s branch network and Small Business Relationship Managers.

2. Analyzes financial data, assesses underlying credit risks and determine overall credit worthiness of prospective borrowers for loan requests ranging from $100,000 to $1,000,000.

3. Provides ongoing monitoring of the loan portfolio through the annual reviews, renewals of existing credit facilities and monitoring financial and covenant compliance.

4. Communicates credit decisions / issues to customers and appropriate Bank personnel.

5. Gathers information and analyzes borrower data, including historical and current financial statements and competitive industry information.

6. Works closely with Sales Team, SBF Director and CLO in structuring loans. Recommends appropriate loan transactions.

7. Interacts with environmental engineers, third party vendors and bank personnel.

8. Prepares loan submissions for Credit Committee (when appropriate).

9. Assists in writing new/revised department policies and procedures.

10. Maintains required knowledge related to bank credit policies, loan programs, and real estate markets.

11. Performs other duties as required.



JOB REQUIREMENTS


Education:

College degree in Business, Finance, or Accounting; or equivalent related business experience.


Experience:

Minimum of 5 years related experience required; including small business underwriting experience, and strong credit skills and knowledge of credit policy.

Working knowledge of credit issues, bank policies and commercial loan documentation.

Demonstrated ability to analyze tax returns, operating statements and pro-forma statements to calculate loan-to-value ratio and debt-coverage ratio.

In depth experience with cash flow and leverage analysis

Excellent written/verbal communication skills required.

Proficiency with various software programs including MS Office and financial spread software (i.e. – Moody’s, TAC).


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