Small Business Underwriter III/ Manager
Multiple Positions Available
IDEAL candidate will have current Commercial & Industrial (C&I) loan experience. Traditional, small business/commercial underwriting and credit analysis experience
We're looking for driven individuals that combine great credit discipline with balanced decision making and customer focus to join our Small Business Lending team as a Small Business Underwriter. The SB Underwriter III role underwrites and recommends small business loan requests with Maximum Potential Exposure of up to $5 Million (new loan requests or renewals), and maintains up to $1,000,000 individual commercial loan authority for secured and unsecured loans. This individual may oversee the work of a team of Small Business Underwriters I and II, providing feedback regarding the quality and completeness of credit approval memos and ensures the team provides outstanding service to business bankers and branch managers, as well as an overall great customer service working with Business Loan advocates responsible for the end to end loan process. As some of the most experienced members of the team, Underwriter III individuals are expected to serve as thought leaders in helping define and pursue the SB Lending agenda with special projects, and help drive department's underwriting training.
About Small Business Lending:
We believe Small Businesses are the heart and soul of what drives our communities and economy forward with their passion and dedication to their work and customers. Beyond our customers, they are our family, friends and neighbors. Small Business Bank group, we're passionate about reinventing the way Small Businesses successfully manage their money, engage with their bank, and build meaningful financial lives. It's audacious work at a massive scale. Our group is relatively new and we don't shy away from challenging the status quo. Our inspiration is our small business customer — their ingenuity, scrappiness and relentless optimism for the future.
Small Business Lending is a very dynamic space. We serve borrowing needs of businesses of various sizes from relatively small businesses owned by sole proprietors, to large corporations. This requires varying levels of sophistication in underwriting to ensure effective risk management with reasonable costs in proportion to loan size. We are competing for business with both established banks, as well as new fin tech entrants that's shifting customer experience expectations. We are completely revamping our lending technology platform and loan production processes with customer focus and agile in mind, so we catapult the business forward in ways we can win with our customers.
We need underwriters that not only bring solid commercial underwriting experience to continue to push the underwriting team's capabilities and high rigor in credit risk management; but also are innovative and adaptive to the needs of this dynamic space.
• Underwrites and approves, conditions, or declines new loan requests and renewals up to the limit of his/her commercial loan authority in accordance with loan policy and portfolio performance objectives. Maintains up to $1,000,000 in commercial loan authority for secured and unsecured loans.
• Underwrites and then recommends approval on loan requests that are in excess of his/her commercial loan authority. These requests are submitted to either an Underwriting Manager or Credit Officer for final approval.
• May oversee Small Business Lenders I and II with feedback regarding the quality and completeness of credit approval memos, loan structure, policy knowledge, and credit scoring; and act as back up for Underwriting Managers
• Provides – and ensures his/her assigned group of underwriters provide – outstanding service to business bankers and branch managers. Works with Small Business Bankers in structuring loan requests in a manner which will best mitigate lending risks while meeting borrower needs.
• Delivers – and ensures his/her assigned group of underwriters deliver – a great overall customer experience working closely with the Business Loan Advocates that are accountable of the end to end loan process from application to funding.
• Ensures appropriate application of all bank and line of business policies and procedures; supporting and driving adherence to regulatory compliance requirements.
• Serves as thought leader in identifying and delivering improvements in our Small Business policy, underwriting, and/or risk management, driving special project work as appropriate.
• Helps drive department's underwriting training.
- Bachelor's Degree or Military Experience
- At least 5 years of experience in credit administration, loan underwriting, or commercial lending
- Completion of a formal credit training or equivalent work experience
SKILLS AND CERTIFICATIONS
Small Business Lending
An ideal candidate will...
- Have 10-15 years of traditional commercial/small business underwriting and credit analysis experience (C&I mostly).
- Have core experience from small business and commercial, not siloed to a specific industry (i.e. auto, consumer, mortgage or energy).
- Have single signing authority experience ($250k - 1 mil)
- Be a culture fit; someone who's intrinsically motivated through finding joy in the work they do, someone who values purpose in their role--feels like they're contributing to the company mission; and is excited about the potential of their role and with the company. Someone who has long term goals for themselves.
- Be someone who wants to see small business owners succeed!
- Leadership qualities or experience, and find passion in training, coaching and developing junior staff.
- Be able to answer questions and define basic accounting principles (i.e. What are the key differences between cash and accrual accounting?)
Must have strong, judgmental credit experience. We're finding there's a gap in credit knowledge on our end with the business bankers, creating an environment where our Underwriters have to step up, and play an integral role in educating and influencing their partners and customers. It happens--it's the difference in sales and operations.
Moreover, they continued to stress the differences in Small Business and Commercial experience. While we go after candidates who have commercial/middle market experience, underwriting Small Business is much more difficult because the quality of the financial statements is lower than commercial; where they receive CPA prepared statements, and the lenders are working directly with accountants or lawyers.
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