Commercial Loan Underwriter

Commercial Loan Underwriter

All of us at Chartway stand united in our strong culture of listening and learning. We treat people with respect, integrity, and kindness, and are committed to continuously developing a diverse and inclusive workplace where team members are empowered to be their authentic selves. All backgrounds, viewpoints, and life experiences are welcome, knowing this commitment strengthens our credit union family and communities.

The Commercial Loan Underwriter is responsible to the Vice President of Commercial Lending for the underwriting of new commercial loan requests, modifications of existing loans, and for the annual review of existing loans within the portfolio, while ensuring all federal regulations and laws are followed.

Responsible and Accountable for:

• Working closely with commercial loan officers, borrowers, and guarantors to obtain relevant documentation to effectively review and evaluate commercial loan requests
• Conduct in-depth review of loan application documents including rent rolls, leases, balance sheets, income statements and tax returns presented by applicants to assess their ability to generate income sufficient to repay existing and proposed debt
• Prepares written proposals that summarize the borrowing request, an analysis of the financial condition of the borrower, the adequacy of collateral, sources of repayment, stress testing, industry comparisons, management experience, and provides recommendations based on analysis
• Spreads and analyzes personal and business financial statements
• Completes quality assurance reviews
• Makes risk rating and structuring recommendations
• Actively participate with lending officers in the preparation of commercial loan proposals for committee presentation
• Performs annual reviews or financial analysis reviews as needed on existing commercial loans
• Reviews appraisals, inspections, environmental or other reports and advises of notable call outs
• Assists management in the review and approval of small business loans as prepared by loan processors, within level of authority
• Assumes additional responsibilities as requested

Knowledge, Skills and Abilities:

• Must be able to separate and understand various elements of financial statements and tax returns and determine the probability that the conditions of the loan request will be met to include construction cost breakdowns
• Strong analytical, critical thinking, and decision-making skills
• Knowledge of commercial products, market trends, commercial loan procedures and related federal regulations
• Must have prior extensive experience in underwriting the following types of credits: Commercial Real Estate O.O. and Non- O.O., Asset based lines of credit, Commercial development loans, Residential development loans, Land acquisition loans for commercial purposes, Vertical construction loans (Builder Single Family Residence, Builder Multi Family projects, Various commercial asset classes including industrial, retail, hospitality, self-storage, office, assisted/skilled nursing, etc.)
• Advanced skills with Microsoft Office Suite including Outlook, Word, and Excel
• Must have excellent written and verbal communication skills
• Must be able to perform credit analysis with and without the assistance of a commercial loan origination system
• Ability to multitask, prioritize and work independently
• Ability to meet strict deadlines

Education and Experience:

• Bachelor's degree with emphasis on accounting, finance, economics, or business or equivalent experience.
• 5+ years commercial credit analysis and underwriting experience in all loan types in a banking or credit union environment.

Chartway offers a competitive salary and a comprehensive benefits package. Candidates must have a good credit history for consideration. Salary requirements must be included and resumes must be accompanied by a Chartway Employment Application for consideration.

Chartway Federal Credit Union is an EOE/M/F/Disability/Vet Employer. If a reasonable accommodation is needed for the job interview process, please contact our Talent Acquisition Team at View phone number on click.appcast.io or email us at View email address on click.appcast.io.