Commercial Loan Underwriter

Paylocity; Springfield (IL); On-site; USD 59,000 - 72,000; Full time

Benefits offered by this job

Health Insurance

Dental Insurance

Vision Insurance

Paid Time Off

401k

Tuition Assistance

Fitness Programs

New Employee Referral Bonus

Job summary

Paylocity seeks a Commercial Loan Underwriter to support the Business and Agriculture lending team in Springfield, IL. The role analyzes credit risk for new loans and performs reviews of existing loans in conformance with policies and regulatory guidelines.

Responsibilities include assessing repayment ability, reviewing collateral, and maintaining accurate files, with regular interaction with loan officers to strengthen client relationships.

Qualifications

• Associate's degree in Accounting or Finance required.
• Ability to read and interpret financial statements.
• Proficient in Windows and MS Office, especially Excel.
• Knowledge of credit reporting and lending practices.
• Excellent verbal and written communication skills.

Responsibilities

• Assess and determine repayment ability of borrowers and guarantors using in-depth financial analysis.
• Review collateral viability and adequacy of documentation.
• Determine Borrower and Guarantor creditworthiness from multiple sources.
• Review and analyze legal documents as necessary.
• Prepare and calculate risk ratings for commercial relationships and communicate findings.

Skills

Financial Statement Analysis

Credit Reporting

Excel Proficiency

Communication Skills

Accounting/Finance Knowledge

Education

Associate's Degree in Accounting or Finance

Four-year degree in Accounting or Finance

Tools

Windows

Microsoft Office Suite

Excel

Job description

Description

Reports to the Vice President and Credit Officer

Exempt

General Functions:

The Commercial Loan Underwriter is an essential position within the Business and Agriculture lending team, providing analytical support by assessing credit risk on new loan requests and loan reviews on existing loans in the Business and Agriculture loan portfolios as assigned, in conformance with established policies, procedures, and objectives. The Commercial Loan Underwriter is additionally responsible for ensuring compliance with all prescribed regulatory compliance guidelines.

Duties and Responsibilities:

1) Assess and determine repayment ability of all borrowers and guarantors, and from a global perspective through in-depth analysis of tax returns and financial statements, including balance sheet, income statement, cash flow statements, using trend, cash flow, ratio, leverage, and projection analysis, which includes stress testing cash flow using various criteria such as changes in interest rate and vacancy.

2) Review documentation to determine viability and adequacy of collateral.

3) Utilize information from various sources to determine Borrower and Guarantor character and creditworthiness.

4) Review and analyze legal documents as necessary.

5) Prepare and calculate risk ratings on commercial relationships and communicates any material information to assist in limiting risk.

6) Possess and apply a working knowledge and understanding of Loan Policy, Procedures, and appropriate regulatory guidance.

7) Perform Annual Reviews of existing loans in accordance with established policies and procedures.

8) Meet with business loan members on a scheduled basis in conjunction with the loan officers to foster relationship and enhance the credit union’s understanding of business credits.

9) Maintain workflow and prioritize tasks to meet deadlines.

10) Maintain accurate files.

11) Assist with audit and examination responses.

12) Attend training as necessary.

13) Maintains work area in an orderly manner.

14) This job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee. Performs other duties and works other hours as assigned.

15) Must be able to meet physical requirements: prolonged periods of sitting at a desk working on a computer or standing and completing training activities; must be able to lift 30 pounds at times.

Requirements

Required Qualifications:

• Education and/or experience equivalent to an Associate’s Degree in Accounting or Finance.
• Ability to read, understand, and interpret financial statements.
• Proficient in Windows applications and Microsoft Office Suite or related software, as well as analysis software, with an emphasis on Microsoft Excel.
• Knowledge of credit reporting and lending practices.
• Excellent verbal and written communication skills.

Preferred Qualifications:

• Four year degree in Accounting or Finance, or a related business field, from an accredited university.

PAY INFORMATION

Minimum salary $65,000; offer dependent upon qualifications and experience.

BENEFITS*

Insurance Options

• Health
• Dental
• Vision
• Accidental
• Hospital Indemnity
• Critical Illness
• Voluntary Life Insurance
• Short-Term Disability, Long-Term Disability, and Basic Life/AD&D Insurance all covered by LLCU
• Flexible Spending Accounts (Medical FSA, Dependent Care FSA, and Limited FSA)
• Health Spending Accounts
• Employee Assistance Program

Time Off

• Paid Time Off (PTO)
• Sick Leave
• Paid Holidays (those recognized by the Federal Reserve Bank)
• Paid Parental Leave
• Funeral and Grieving Leave
• Paid Disability Leave

Additional

• 401k
• Clothing Allowance
• Community Impact/Community Service - Staff are provided up to 14 hours per year of paid time for the purposes of volunteering.
• Tuition Assistance and Professional Development Opportunities
• Fitness Programs
• New Employee Referral Bonus

*Eligibility criteria must be met.