Description
The Commercial Loan Underwriting Officer is responsible for consistently underwriting safe and sound commercial loans that are in compliance with the Bank’s underwriting standards and all applicable state and federal laws, rules and regulations. The position assists loan officers in managing customer relationships by providing advanced credit analysis and support, thereby ensuring the needs of a borrower are met by underwriting the appropriate type of loan.
ESSENTIAL DUTIES
- Reinforces the application of superior customer service through his or her own example along with appropriate follow through with involved customers and employees.
- Consistently underwrites safe and sound commercial loans in an expedient manner that are in compliance with the Bank’s underwriting standards and all applicable state and federal laws, rules and regulations.
- Analyzes financial data related to new and renewal loan requests, including, but not limited to, lines of credit, asset-based lines, commercial real estate, and equipment financing loans.
- Carefully assesses and evaluates the risk of financing requests within the framework of the Bank’s credit culture and current economic and industry trends, and presents facts and offers opinions/recommendations to loans officers and relationship personnel concerning applicant’s credit worthiness.
- Reviews self-employed, corporate and partnership tax returns, profit and loss, as well as financial statements to ascertain borrowers’ income, and follows up with customers to obtain all necessary information and clarification on financial analysis materials and resources.
- May work with attorneys and other financial or legal resources to obtain correct and accurate documents to fully protect the Bank’s interests in the credit relationship.
- Establishes and maintains a close working relationship with loan and relationship officers; participates in customer and business development calls and other marketing efforts; assists loan and relationship officers in managing customer relationships by providing advanced credit analysis and support, thereby ensuring the needs of a borrower are met by underwriting the appropriate type of loan; and works with loan and relationship officers to create solutions for problems that arise during the underwriting process.
- Orders and reviews credit and insurance reports, flood zone determinations and UCC filings; performs title searches and reviews site inspections; and ensures the Bank’s collateral position can be appropriately achieved and protected.
- Reviews and corrects potential problems during the commercial loan approval process, such as issues related to credit history, nonconforming appraisals, policy exceptions, etc.
- Prepares summary and/or credit approval report documenting credit analysis and supporting information for credit decision recommendations.
- Ensures customer is approved for all ancillary products, and makes recommendations to loan and relationship officers on potential customer needs.
- May directly manage a portfolio of smaller credits as assigned by Credit Administration. Develops and maintains an advanced knowledge of financial industry, economy, market conditions, rates, vendors and competition; remains informed of trends and developments in local market and changes to regulations governing commercial loans; and assimilates new government regulations and applies this knowledge to improve and maintain quality and consistent underwriting.
- Assists in the development and training of Commercial Loan Department personnel.
- Responds to inquiries or refers inquiries to the appropriate department or person, and exhibits the necessary follow through with customers and/or staff involved.
- Consistently applies superior decision making techniques pertaining to inquiries, approvals and requests as they apply to existing policies and procedures, keeping within assigned approval limits and using these instances as learning tools for employee development.
- Assumes responsibility for special projects; gathers data and prepares reports for Credit Administration, audits and other personnel.
- Processes, solves and answers complex customer transactions, problems or inquiries.
- Answers telephones, answers questions and directs callers to proper Bank personnel.
- Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; and accepts responsibility for own actions.
- Demonstrates knowledge of and adherence to Equal Employment Opportunity (EEO) policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; and builds a diverse workforce and supports affirmative action.
- Assures compliance with all Bank policies, procedures and processes, and all applicable state and federal banking laws, rules and regulations, and adheres to Bank Secrecy Act (BSA) responsibilities that are specific to the position.
- Completes administrative tasks correctly and on time; supports the Bank’s goals and values; and benefits the Bank through outside activities.
- Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
Requirements
These specifications are general guidelines based on the minimum experience normally considered essential to the satisfactory performance of this position. The requirements listed below are representative of the knowledge, skill and/or ability required to perform the position in a satisfactory manner. Individual abilities may result in some deviation from these guidelines.
- Bachelor’s degree (BA) or equivalent from a 4-year college or university; minimum of two years related experience and/or training; or the equivalent combination of education and experience. Work related experience should consist of a lending and financial analyzing background. Educational experience, through in-house training sessions, formal school or financial industry related curriculum, should be business or financial industry related.
- Formal credit training experience preferred.
- SBA 7(a) experience is a plus.
- Registered with the Nationwide Mortgage Licensing System and Registry as a mortgage loan originator in accordance with the Secure and Fair Enforcement for Mortgage Licensing Act (the “SAFE Act”).
- Intermediate knowledge of commercial loan origination, underwriting, documentation and processing.
- Intermediate knowledge of the appraisal experience.
- Basic experience, knowledge and training in all lending activities and terminology.
- Advanced experience, knowledge and training in accounting, financial statement spreading, and cash flow and tax return analysis typically resulting from a combination of education in accounting, financial and/or credit analysis or related areas.
- Basic knowledge of related state and federal lending and compliance laws, rules and regulations, and other Bank lending policies.
- Ability to develop marketing and business development skills with customers.
- Ability to read, analyze and interpret general business periodicals, professional journals, and technical procedures.
- Excellent organizational and time management skills.
- Basic skills in computer terminal and personal computer operation; host computer system; word processing, spreadsheet and specialty software programs.
- Intermediate typing skills to meet production needs of the position.
- Intermediate math skills; ability to calculate interest, commissions, proportions, and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
- Exceptional verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence and procedures, speak clearly to customers and employees.
- Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
- Ability to work with minimal supervision while performing duties.
- Current driver’s license and a vehicle with appropriate insurance coverage if required to drive in the course of performing assigned duties and responsibilities.