Sr. Commercial Loan Underwriter

Salem Five is a growing regional financial services organization with a rich history of over 170 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers. 

This position requires the ability to work in the Salem, MA offices.  

Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. 

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following; however other duties may be assigned based on business need:

• Performs underwriting and annual reviews on commercial and/or commercial real estate and land development loans, regardless of dollar amount, industry or complexity, in accordance with State Regulatory guidelines and Salem Five’s policies and procedures.
• Approves, administers, and reviews loans and loan commitments to ensure that they adhere to existing policy guidelines and that documentation is adequate to ensure security of collateral.
• Examines for adequacy and completeness, loan documentation on a wide variety of loans and loan commitments.
• Approve or reject loans, ensuring that the credits adhere to existing credit guidelines and that applicants are deemed credit worthy.
• Administers and reviews existing credits to protect the quality and profitability of the loan portfolio.
• Identifies potential problem loans.
• Manage problem loans as required by the Chief Credit Officer.
• Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.
• Regular attendance is essential to this position.
• Assumes additional responsibilities as requested.

EDUCATION and/or EXPERIENCE

Bachelor's degree (B. A. or B. S.) from four-year college or university; and seven to ten years of related senior level experience (i.e., lending, credit approval, workout) and/or training; or equivalent combination of education and experience. Seven to ten years of commercial underwriting experience, showing increasing levels of responsibilities, required. Experience underwriting larger and very complex loan transactions (i.e., acquisition financing for $20 million or more.) Applicant must have appropriately developed computer skills to complete assignments. Previous experience with approval authority is required.

Benefits/Incentives : We offer a comprehensive benefits package designed to support your well‑being and success, including medical, dental, and vision coverage; Flexible Spending and Health Savings Accounts; 401(k) matching; and tuition reimbursement. You will also enjoy additional perks such as our employee referral program, annual holiday reception, summer family outing, and more.

Salary Range : $160,000 - $195,000

The pay range is the lowest to highest compensation we reasonably in good faith believe we would pay at posting for this role. We may ultimately pay more or less than this range. Employee pay is based on factors like relevant education, qualifications, certifications, experience, skills, seniority, location, and performance. This range may be modified in the future.

PHYSICAL DEMANDS

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel and talk or hear. The employee frequently is required to sit. The employee is occasionally required to stand, walk, and reach with hands and arms. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision.

Ready to apply ? If this job sounds like a fit for you, then click on  Apply / Apply Now  in this posting. We look forward to talking with you.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.