Commercial Loan Underwriter
Position Number: CLO II
Location: San Jose, CA
The incumbent is responsible for the underwriting and credit recommendations for Commercial/Business Banking, Commercial/Small Business Administration (SBA) and Consumer loan products, operating under the policies and procedures of the Credit Union and within standards, applicable laws and regulations. Makes decisions on loans within credit authority or makes recommendation to a manager.
MAJOR RESPONSIBILITIES / DUTIES
Reviews Commercial and Consumer loan applications, including lines of credit, SBA, vehicles, ACH, and Remote Deposit Capture for requests up to $250,000.
Possess and applies a thorough knowledge of Tech CU programs and requirements, and specifically Tech CU policies and procedures.
Corresponds with financial center personnel, applicants, and creditors to resolve questions regarding application information. Performs due diligence by gathering information about client relationship, related credit exposures and pertinent market data.
Analyzes and spreads financial statements/tax returns for the Borrower and guarantors. Evaluates collateral, covenants, Accounts Receivable and Payable agings, credit reports, etc.; Completes various cash flow models on the individual, business, property and/or global basis.
Completes written Credit Approval Report (or equivalent) according to Tech CU guidelines for the applicable loan program; Identify and evaluates key underwriting issues and potential transaction risks. Critically review, evaluate and approve all third party reports that become part of the package. Provide concise risks and mitigants/recommendations;
Makes decision to approve, recommend for approval or decline the request.
Examines loan documents for accuracy and completeness.
Manages assigned Commercial loan portfolio. Acts as Relationship Manager by interfacing with members to obtain required financial information. Ensures files are complete, orderly, and accurate.
Acts as the liaison between Credit Administration and the financial centers for Business Banking. Mentors the Business Banking Specialists in the Financial Centers and provides guidance. Provides telephone support to financial centers for potential loan prospects. Accompanies Business Banking Specialists on site visits, as necessary.
Supports the Credit Union’s Mission & Vision and Lives the Tech CU Values (Accelerate, Collaborate, Innovate, & Cultivate).
Meets on a monthly basis with manager to discuss goal alignment, performance metrics, and development plans.
Adheres to Policy & Procedure put forth in employee handbook; upholds employee Code of Conduct/Ethics, and ensures confidentiality of the workplace.
The employee will comply with all rules and regulations as defined by applicable regulatory agencies. The employee will also adhere to all internal controls and security measures designed to ensure regulatory compliance with State and Federal laws.
Typically has at minimum:
Education: Bachelor’s Degree or equivalent in Business, Accounting, Finance or Economics.
Experience: 5 years of increasing responsibility and experience in Commercial lending, including SBA loan programs. Consumer credit experience is a plus. Must have experience with credit analysis.
• Strong knowledge of SBA, commercial and consumer lending rules, regulations, policies, and procedures within the financial services industry.
• Solid understanding of credit analysis, utilizing real property operating statements, business and personal financial statements, and business/personal tax returns.
• Good Understanding of Global Cash Flow (GCF), Discounted Cash Flow (DCF) and Net Present Value (NPV) spreadsheet models.
• Proficiency in PC applications including Excel, Word and PowerPoint.
• Highly organized, with strong verbal and written communication skills.
• Strong service and team orientation.
• Operation of automated tools sufficient to effectively perform job duties.
Physical Requirements: Ability to sit 85% of the day. Keyboard and read computer screen for 90% of time during which one is seated.
Travel: Holds a clear & valid California Driver’s License. Possesses current automobile insurance and is willing to drive one’s own auto to conduct Credit Union business. The applicable IRS mileage reimbursement rate will be provided for business/credit union approved business travel.
THIS POSITION DESCRIPTION IN NO WAY STATES OR IMPLIES THAT THESE ARE THE ONLY DUTIES TO BE PERFORMED BY THE INCUMBENT EMPLOYEE. HE OR SHE MAY BE REQUIRED TO FOLLOW OTHER INSTRUCTIONS AND TO PERFORM OTHER DUTIES/PROJECT RESPONSIBILITIES AS DIRECTED BY HIS OR HER MANAGER.