The SBA Underwriter will be responsible for evaluating Small Business Administration (SBA) loan applications based on established criteria and SBA Standard Operating Procedures.
Duties and Responsibilities:
• Conduct in-depth analysis of financial information to form a recommendation of approval or denial of new loans.
• Collect, analyze and evaluate financial and related data to determine credit worthiness of loan prospects and merits of specific loan requests.
• Collaborate with the Product Specialist, Relationship Managers, and Business Development Officers to gather all necessary information to present an accurate and complete picture of the loan presented.
• Calls jointly on clients with Product Specialists or Business Development Officers to understand client’s needs and specific risks to client business.
• Perform preliminary due diligence and analysis for cash flow, financial capacity, and SBA eligibility.
• Prepare high quality, detailed credit approval documents that contain an in-depth analysis and an understanding and identification of credit issues and risks.
• Outline the risks and mitigating factors of a credit facility based upon the analysis of business and personal financial statements, collateral, global cash flow, economic and industrial factors and debt service capacity.
• Spread and interpret financial statements, tax returns, and projections using Excel and Moody’s Risk Analytics. Completing spreads, cash flow, analysis and preparing a credit authorization with a credit decision recommendation in accordance with Bank’s and SBA policy and the current Small Business Administration (SBA) Standard Operating Procedures.
• Provide additional recommendations on loan structure and alternatives that may be more appropriate for the transaction.
• Meet or exceed service level agreements and turn time goals throughout the process.
• Provide credit and loan underwriting expertise to sales team on Government guaranteed loans. Recommend terms under which credit will be extended, including the costs, repayment method, and collateral requirements.
• Prepare Credit Offering Memorandums.
• Assignment of accurate risk ratings for new loans to minimize the Bank’s credit philosophy.
• Evaluate loan purpose and disbursement procedures for all loans and determine source of cash collateral on cash secured loans in accordance with the bank’s Bank Secrecy Act policy and procedures.
• Support the Bank’s strong relationship banking culture through ongoing customer contact, quality customer service, and superior product knowledge. Understand and adhere to the Bank’s Bank Secrecy Act policy and procedures and \u0022know your customer/enhanced due diligence\u0022 guidelines. Brings any suspicious activity to the attention of a supervisor, or the Bank Secrecy Act Officer.
• Follow all Bank policies and procedures to ensure compliance with all laws and regulations.
• Performs other related duties as assigned.
Education and/or Work Experience Requirements:
• Bachelor’s degree or equivalent work experience
• At least 3 of SBA 7a loan underwriting experience
• At least 10 years of commercial loan and/or SBA underwriting experience
• Working knowledge of SBA SOP 50 10
• NAGGL/SBA Industry educational classes a bonus
• Credit analytical skills and ability to interpret results
• Ability to coach and mentor team members
• Ability to offer appropriate resolutions to mitigate risk
• Ability to think independently and as team player
• Ability to meet deadlines under pressure
• Current extensive SBA SOP 50-10-5 knowledge, specifically credit approval requirements.
• Strong/effective verbal and written communication skills
• Self-starter and works with minimal direction
• Proficient in Moody’s Risk Analytics
• Good personal computer skills with demonstrated knowledge of Microsoft EXCEL, WORD, Outlook
• Strong time management and organizational skills evidenced in previous assignments.
• Demonstrated above average problem solving skills, excellent verbal and written communication skills, and ability to handle and prioritize multiple tasks.
Work Hours: Monday thru Friday from 8:00am to 5:00pm