Business Lending Underwriter

Job Description

Job Description

We are looking for friendly, service driven individuals to join our team of Rock Stars! 

The essence of Nymeo’s identity has been captured in our Core Values:

1. Personalized member service, education and rapport
2. People helping people
3. Outstanding products, services and delivery
4. Professional and personal wellbeing of each team member

Voted the 11th Best Credit Union to work for in the nation and Frederick News Post Best of the Best Credit Union for the 9th time, Nymeo prides itself on providing a positive and fulfilling work environment focused on the credit union principle of people helping people.

Primary Functions:    

The Business Lending Underwriter is responsible for providing independent credit analysis and underwriting support for business-purpose lending transactions. This position evaluates the financial condition, creditworthiness, repayment capacity, collateral, guarantor strength, and overall risk associated with business borrowers and loan requests. The Business Lending Underwriter works closely with the lending origination team and lending management to ensure complete, accurate, consistent, and well-supported credit decisions.

Duties and Responsibilities:

1. Independently underwrite business-purpose loan requests in accordance with established lending policies, guidelines, procedures, and applicable regulatory requirements.
2. Review loan packages submitted by Loan Officers for completeness, accuracy, consistency, and appropriate supporting documentation.
3. Analyze business and personal financial information, including financial statements, tax returns, credit reports, debt schedules, bank statements, and other relevant documentation.
4. Evaluate business and global repayment capacity, including cash flow, Debt Service Coverage Ratio (DSCR), global debt-to-income, liquidity, leverage, working capital, existing debt obligations, and other relevant financial measures.
5. Evaluate the borrower’s credit history, business performance, financial condition, management and guarantor strength, existing relationship and exposure, and other factors relevant to the overall credit risk.
6. Analyze collateral and guarantor support, including collateral value, loan-to-value, lien position, guarantees, and other applicable credit enhancements.
7. Evaluate proposed loan structure, amount, pricing, repayment terms, collateral, covenants, conditions, and other risk mitigants to ensure the request is appropriately structured for the identified risk.
8. Identify and document credit strengths, weaknesses, risks, mitigating factors, and applicable policy exceptions.
9. Prepare clear, concise, and well-supported credit memoranda and recommendations for review and approval by the appropriate lending authority.
10. Conduct clear-to-close reviews to ensure approved loan terms and conditions are satisfied and that the final loan structure remains consistent with the approved credit decision.
11. Assist with conducting annual and periodic reviews of existing business lending relationships in accordance with established requirements and recommend appropriate monitoring, conditions, or other action when warranted.
12. Assist with the preparation for and response to internal audits, regulatory examinations, quality control reviews, and other reviews of business lending activity.
13. Maintain current knowledge of applicable lending policies, procedures, regulations, and credit union requirements.
14. Protect the confidentiality and security of member and credit union information and comply with established security standards.
15. Complete required annual training and maintain knowledge of applicable BSA/AML, USA PATRIOT Act, CIP, OFAC, and other regulatory requirements.

1. Strong knowledge of business lending and credit underwriting principles, particularly for established small business borrowers.

2. Demonstrated ability to analyze business and personal financial information and assess overall repayment capacity and credit risk.

3. Strong understanding of financial analysis concepts including cash flow, DSCR, global debt-to-income, liquidity, leverage, working capital, collateral valuation, and loan-to-value.

4. Ability to evaluate credit reports, financial statements, tax returns, debt schedules, guarantor strength, collateral, and other information used in business credit decisions.

5. Ability to identify credit risks and appropriately evaluate mitigating factors, policy exceptions, and loan structure.

6. Ability to prepare clear, concise, and well-supported credit memoranda and recommendations.

7. Strong analytical and critical-thinking skills with the ability to exercise independent judgment.

8. Strong attention to detail and ability to identify inconsistencies, gaps, and potential risks within a credit package.

9. Ability to manage multiple loan requests and priorities while maintaining accuracy and established service-level expectations.

10. Strong written and verbal communication skills with the ability to communicate effectively with Loan Officers, lending management, and other internal stakeholders.

11. Ability to work independently while contributing effectively to a collaborative lending environment.

12. Ability to use loan origination systems, financial analysis tools, Microsoft Office products, Excel, and other technology to efficiently perform credit analysis.

13. Ability to maintain confidentiality and comply with established policies, procedures, and security standards.

Education and Experience:

1. Bachelor’s degree in Business, Finance, Accounting, Economics, or a related field; equivalent relevant lending or credit experience may be considered in lieu of a degree.

2. Minimum of five years of lending, credit analysis, or underwriting experience, including meaningful experience underwriting business-purpose loans.

3. Demonstrated experience analyzing business and personal financial information and making or supporting credit recommendations.

4. Desired:

• Experience underwriting small business loans and lines of credit.
• Experience with business-purpose vehicle or other secured lending.
• Experience with business-purpose real estate lending.
• Experience conducting annual or periodic credit reviews.
• Experience working in a credit union, community bank, or similar financial institution.
• Experience using automated or technology-enabled financial analysis and loan origination systems.
• Experience developing, implementing, or refining lending underwriting procedures, workflows, or documentation standards.
• Experience preparing credit memoranda and presenting credit recommendations to lending management or a loan committee.
• Experience with a variety of business borrower structures and guarantor relationships.