Associate Underwriter, SBB

liveoakbancshares; Wilmington (NC); On-site; USD 55,000 - 85,000; Full time

Job summary

Live Oak Bank is seeking an Associate Underwriter in the SBA lending space. The role involves analyzing loan applications, performing credit and collateral assessments, and ensuring compliance with bank and SBA requirements.

You will work with the underwriting team to advance proposals toward credit approval, maintain regulatory awareness, and help build customer relationships through responsive service.

Qualifications

• Bachelor's degree or equivalent experience required.
• Banking or SBA lending experience preferred.

Responsibilities

• Underwrites loan applications by analyzing applicants' financial status, credit, and collateral in line with bank and SBA criteria.
• Evaluates sources of repayment and conducts competition analysis.
• Reviews SBA eligibility, bank policies, and required documentation for credit approval.
• Prepares the Credit Memorandum with financial analysis and regulatory compliance.

Education

Bachelor's degree or equivalent experience

Job description

About Us

Live Oak Bank is a digital bank that serves small business owners across the country. Our groundbreaking spin on service and technology has fueled our mission to be America's Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money. At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.

How This Role Impacts Live Oak and its People The Associate Underwriter, SBB analyzes deals to determine if they are prudent loans for the Bank and the borrower. The Associate Underwriter role impacts the Bank by fulfilling a critical part of the loan process to move deals from proposal to credit approval. In accordance with established lending policies and procedures, and under the guidance of the Underwriting Team Manager develops an understanding in examining, evaluating, and closing commercial extensions of credit. May request specified information for loan application. Develops customer relationships through friendly, courteous, and responsive service. Develops understanding of commercial lending policies and SBA Program rules and procedures. Promotes Bank's services to current and potential customers.

What You'll Do at Live Oak

• Works with an experienced Loan Officer to complete the underwriting of the application to include the analysis of applicants' financial status, credit, and property evaluation to determine if loan requests meet the bank's and SBA's lending criteria


• Evaluates the sources of repayment on loan requests and does a competition analysis


• Develops an understanding of bank policies and procedures as well as SBA standards and SOP's; reviews the loans for SBA eligibility and verifies same


• Completes the customer interview; makes an assessment of the customer and resolves outstanding questions related to the transaction


• Develops expertise in use of Bank loan systems. Ensures that all documents required for the credit approval of the loan transaction are uploaded to Bank's Loan Origination System


• Responsible for preparing the Credit Memorandum detailing the loan request, completing personal and business financial analysis for credit worthiness, and complying with banking regulatory guidelines, as applicable


• Submits the loan request to Credit Administration to secure approval for the transaction. Works closely and directly with the credit officer, answers questions about the loan and the customer which allows the credit officer to become comfortable with the request


• Evaluates third party appraisal(s) on real estate, business valuation(s) and environmental assessment(s). Reviews documentation upon completion for compliance with loan conditions


• Initial focus is on achieving Underwriter Certification, where every deal completed is reviewed by their manager or an Underwriting Review Specialist; once certified, deals go straight to credit administration for review and decisioning


• Once Certified, the focus shifts to proving ability to maintain a full underwriter pipeline over multiple consecutive quarters


• As part of maintaining a full pipeline, Associate Underwriters are also expected to become proficient in the Closing process; this means demonstrating proficiency in change memos, working with Closers, and navigating the various issues that arise during the Closing stage


• Maintain a high standard of regulatory awareness including BSA, AML, CIP, and OFAC

Required Experience

• Bachelor's degree or equivalent experience

Preferred Experience

• Banking experience

Our Values

• Dedication: Possess a deep commitment to Live Oak Bank's mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.


• Ownership: Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.


• Respect: Treat everyone with courtesy, politeness, and kindness.


• Innovation: Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.


• Teamwork: Foster collaboration, accountability, and trust with others and understand that together, we do more

For a detailed overview of our employee benefits please visit: http://www.liveoakbank.com/careers/

Live Oak Bank is an Affimative Action and Equal Opportunity Employer, Minorities/Women/Veterans/Disabled. We consider applicants for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, genetic information, veteran status or disability. Equal access to programs, service and employment is available to all persons. Those applicants requiring reasonable accommodation to the application and/or interview process should notify human resources at [e-mail]