Commercial Credit Underwriter, SBB

Live Oak Banking Company; Wilmington (NC); On-site; USD 82,000 - 134,000; Full time

Job summary

Live Oak Bank in Wilmington, NC is seeking a Commercial Credit Underwriter to analyze deals, prepare credit materials, and guide loans from proposal to closing.

The role requires a Bachelor’s degree or equivalent experience, strong financial analysis skills, and regulatory awareness. Travel to site visits may be required as part of underwriting.

Qualifications

• Bachelor's degree or equivalent experience.

Responsibilities

• Underwriting – Spreads and analyzes borrower financials; in partnership with Loan Officers, creates the appropriate credit overview materials.
• Loan Documentation – reviews, manages, and negotiates the loan documentation process through closing, with assistance from management, Senior Underwriters, and Loan Officers as-needed.
• Portfolio Management – Assists with deals post-closing as appropriate, which includes supporting the Portfolio Analyst team and assisting with upsizes and modifications.
• Participates in other strategic initiatives and projects as needed to support the growth of Conventional volume within SBB.
• Works with 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 lending criteria.
• Travels on site visits as applicable and 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 and credit box.
• Ensures analysis and presentation is consistent with Bank expectations for similar products.
• Prepares Credit Memorandum with detailed analysis of loan request and assists Loan Officer with presentation to Credit and Executive Loan Committee, as applicable.
• Responsible for financial analysis and modeling of both new lending opportunities and existing clients in a variety of lending products, including CRE and C&I opportunities.
• Works closely with the lending and closing departments to coordinate pre-closing activities, loan documentation review and negotiation, and other responsibilities throughout the closing process.
• Develops in-depth knowledge of banking and lending products, policies, procedures, and regulatory requirements, as well as market and industry activities and trends.
• Supports lending and portfolio management teams to ensure proper monitoring of current loans and credit lines, financial performance updates, and portfolio review.
• Performs other related duties as assigned or requested.
• Maintains a high standard of regulatory awareness including BSA, AML, CIP, and OFAC.

Education

Bachelor's degree or equivalent experience

Job description

About Us

Live Oak Bank is a digital bank for small business owners across the country. Our goal is to be America’s Small Business Bank, and we’re getting there by pairing exceptional service with smart technology. We support owners at every stage with products: loans to buy, build, and expand checking and merchant services to keep daily operations moving high-yield savings and CDs to grow the money they’ve worked hard to earn. Our people are the heart of Live Oak. We take care of each other here, and that care carries over to how we serve our customers. If you want to help small business owners chase the American dream, we’d love to meet you.

What This Role Impacts

The Commercial Credit Underwriter analyzes deals to determine if they are prudent loans for the Bank and the borrower. This role impacts the Bank by fulfilling a critical part of the loan process to move deals from proposal to closing.

What You’ll Do at Live Oak

In accordance with established lending policies and procedures, 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. Promotes Bank’s services to current and potential customers.

• Underwriting – Spreads and analyzes borrower financials; in partnership with Loan Officers, creates the appropriate credit overview materials.
• Loan Documentation – reviews, manages, and negotiates the loan documentation process through closing, with assistance from management, Senior Underwriters, and Loan Officers as-needed.
• Portfolio Management – Assists with deals post-closing as appropriate, which includes supporting the Portfolio Analyst team and assisting with upsizes and modifications.
• Participates in other strategic initiatives and projects as needed to support the growth of Conventional volume within SBB.
• Works with 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 lending criteria.
• Travels on site visits as applicable and 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 and credit box.
• Ensures analysis and presentation is consistent with Bank expectations for similar products.
• Prepares Credit Memorandum with detailed analysis of loan request and assists Loan Officer with presentation to Credit and Executive Loan Committee, as applicable.
• Responsible for financial analysis and modeling of both new lending opportunities and existing clients in a variety of lending products, including CRE and C&I opportunities.
• Works closely with the lending and closing departments to coordinate pre-closing activities, loan documentation review and negotiation, and other responsibilities throughout the closing process.
• Develops in-depth knowledge of banking and lending products, policies, procedures, and regulatory requirements, as well as market and industry activities and trends.
• Supports lending and portfolio management teams to ensure proper monitoring of current loans and credit lines, financial performance updates, and portfolio review.
• Performs other related duties as assigned or requested.
• Maintains a high standard of regulatory awareness including BSA, AML, CIP, and OFAC.

Required Experience

Bachelor's degree or equivalent experience Credit underwriting, credit analyst, or similar 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.

Live Oak Bank is an affirmatively 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]. EEO is the Law.

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

The base pay range for this position is $82,240.00 - $133,640.00 per year. Compensation may also include annual bonuses and long-term incentives, subject to various metrics and company policy. A candidate’s salary is determined by several factors including travel, relevant work experience or skills and expertise. Please note that we provide at least the minimum requirement of paid sick leave to our employees who reside in states that require employer-paid sick leave, including but not limited to Arizona, California, Colorado, District of Columbia, Maine, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington.

More than just a job, a career at Live Oak is an opportunity to mold the future of the banking industry. Live Oak Bank would not be the top SBA 7(a) and USDA lender in the country without our people. We focus on hiring folks who are dedicated to living our values, every single day. Together, we’re on a mission to be America’s small business bank. At Live Oak we never lose sight of focusing on the wellbeing of our folks. We believe our employees are the heart of our company and drive our commitment to our customers. As part of the Live Oak team, you’ll have the chance to shape the next chapter of banking while supporting the backbone of our nation – small businesses.