The Bronx Economic Development Corporation | Senior Underwriter | new york city, ny
7 days ago
About the Organization:
The Bronx Economic Development Corporation (BXEDC) has been serving Bronx-based businesses for over four decades, providing them access to resources and capital needed to build a thriving community in the borough. The main mission of BXEDC is to strengthen and expand Bronx-based businesses while encouraging businesses to relocate to the Bronx, thereby maximizing employment opportunities for residents. The organization offers its clients various programs and services, including site selection, financing and financial packaging, technical assistance, special projects, procurement assistance, liaison services with government agencies, information dissemination, workforce development, and placement assistance. Additionally, BXEDC provides support for small business development and capacity building.
BXEDC is looking to hire a full-time Senior Underwriter to get more capital access to Bronx businesses through our loan programs and to position the organization to recertify as a CDFI.
This position has a hybrid schedule: Monday through Thursday in the office and Fridays working from home.
Key Responsibilities:
- ·Loan package during the pre-underwriting stage from loan officers and third-party vendors to verify that application data is complete, accurate, organized in the proper file folders, and meets all standards established by loan policy and loan guidelines to prepare for underwriting assignment.
- Perform risk assessments on potential loan recipients based on credit rating, borrowing history, and other specific risk factors.
- Record loan denials and specific basis for declining applications and provide guidance on resources needed for the borrower.
- Provide support to loan officers and the fiscal department through all phases of the loan
- Provide underwriter admin support in ordering in appraisal bids, third-party appraisal reviews, environmental report bids, and any other related third-party/approved vendor reports and documents necessary for the underwriter’s evaluation of the required collateral as underwriting in the loan credit memo
- Responsible for tracking third-party report completion dates and coordinating the resolution of quality issues as requested by the underwriters, management, and third-party vendors.
- Manage and track but not limited to the following: ordering flood certifications, business and personal credit pulls, Reg B, SAM searches, 4506 Tax Transcripts, verification checks
- Provide a pipeline report and status update on loans, and clients and work with loan officers to move prospects forward
- Monitor and report noncompliance with loan covenants.
- Maintain client relationships and provide superior customer service.
- Assist with technical underwriting issues and questions.
- Review loan documentation and vendor reports to identify signs of fraudulent activity.
- Develop and implement underwriting policies and procedures.
- Provide all duties as assigned
Underwriter Qualifications:
- Applied knowledge of underwriting fundamentals and standard industry practices
- Understanding of basic financial principles and processes
- Knowledge of federal, state, and local regulatory requirements
- Ability to maintain confidentiality
- Strong analytical skills and attention to detail
- Excellent communication and negotiation skills
- Ability to multitask and work under pressure to meet strict deadlines
Education and Experience Requirements
- Bachelor’s degree in Business, Finance, Accounting or a related field
- 3-5 years of underwriting or credit and risk analysis experience
- Experience with underwriting automation tools preferred
- Demonstrated proficiency with Microsoft Office (Excel, Outlook)
Compensation range: $80,000 to $90,000 based on experience
To apply, please submit a cover letter and resume to careers@bxedc.org.
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new york city, United States The Bronx Economic Development Corporation Full timeAbout the Organization: The Bronx Economic Development Corporation (BXEDC) has been serving Bronx-based businesses for over four decades, providing them access to resources and capital needed to build a thriving community in the borough. The main mission of BXEDC is to strengthen and expand Bronx-based businesses while encouraging businesses to relocate to...
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