LOCATION: West Florida
JOB SUMMARY:
Commercial Underwriters support the revenue growth and asset quality of the commercial lending line of business by participating in new client relationship development activities, functioning as part of the lending partnership, monitoring existing client relationships, and managing credit risk to ensure that loans are quality assets and well-structured so as to mitigate portfolio risk. Understand the nature of the businesses and industries which the line of business serves. Promote and support the loan policies, credit culture, and strategic initiatives of the bank. Examine, evaluate, authorize, or recommend approval of customer applications for commercial loans. Effectively manage a commercial loan portfolio.
Underwriters will utilize strong analytical skills, high-level understanding of business finance, and extensive knowledge to propose and provide solutions to meet customer needs.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
- Analyze the financial information on existing and potential customers to assess the borrower’s and guarantor’s financial condition and ability to repay a loan request, perform periodic or annual reviews and covenant tests, or a loan modification. Investigate all available sources of credit and financial information including reporting services, credit bureaus, and other companies for trade references. Understand the market(s) and industry in which the customer does business. Assess the collateral pledged as security. Meet with and/or call borrower and accountants.
- Prepare and present financial information, industry data, economic influences, and other market information in the required format and analyze in detail for trends, ratios, cash flow, etc. Prepare analytical credit memoranda which are accurate and insightful, which identify and examine all risks, analyze sources of repayment, cite policy exceptions, and evaluate collateral. Become subject matter expert.
- Maintain a thorough understanding of the credit culture and loan policy to inform, articulate, and advise of risk appetite and policy adherence and exceptions.
- Underwriters should be able to handle all loan types, including complex borrowers, with little to no direction, and should be able to negotiate structure with Commercial Bankers on underwriting assignments.
- Ensure loan agreements are complete and accurate according to loan approval. Support timely loan closing and funding activities.
- Manage loan portfolio to ensure conformity and servicing with approved terms and compliance with all loan documents. Be cognizant of any developing trends. Proactively work to identify weakness in loans to minimize the bank’s exposure, reduce credit risk, and mitigate delinquency and loss. This includes an on-going understanding of any changes in the risk profile of all loans, monitoring borrowers’ compliance to the loan documents, obtaining and reviewing any required documentation or reports in a timely fashion, monitoring loan payments, tracking covenant compliance, and performing periodic borrower reviews on a regular basis.
- Assist the Special Assets Department in the management of problem loans, supervision of Watch Loan plan execution, administration of non-accruals, and minimization of charge-offs.
- Remain current on market and industry issues, trends, regulatory pronouncements, and analytical techniques.
- Exercise time management and organizational skills.
- Responsible for assisting other Underwriters to aid in covering overflow.
- Adhere to Seacoast Bank’s Code of Conduct.
EDUCATION and/or EXPERIENCE:
- A bachelor’s degree (BS or BA) degree or higher from a four year accredited institution with a major in finance, accounting, or business preferred.
- Minimum of ten years of relevant experience with commercial credit analysis, commercial lending, loan structuring, finance, underwriting, and portfolio management or equivalent. Competence may be demonstrated through one or a combination of the following: work experience, training, military experience, and/or education. Formal commercial credit training preferred.
- Ability to develop and sustain analytic and risk management skills while actively participating in the successful execution of complex transactions.
- Ability to apply sound judgment in the application of analytical conclusions to credit approval, loan structure, and management recommendations.
- Familiarity with various industries and commercial property types.
- Experience evaluating economic and market conditions in the markets or lines of business served.
- Experience analyzing collateral and collateral valuation.
- Knowledge of policies, procedures and operations of commercial lending including originations, underwriting, documentation, and credit risk analysis.
- Formal credit training preferred.
The Statements above are intended to describe the general nature and level of work being performed by people assigned to this position. They are not intended to be an exhaustive list of responsibilities, duties, and skills. Because these statements are general, the job description is used for a variety of purposes including job evaluations; performance reviews; recruitment; etc. All Associates are required to adhere to the highest legal and ethical standards applicable to our industry. It is the policy of Seacoast Bank that all Associates will be familiar and compliant with all regulatory, legal, ethical and Bank risk mitigation requirements pertaining to both our industry and their individual roles. This includes the on time, successful completion of annual required training post-hire and effective execution of role responsibilities.
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