Commercial Underwriter

First New York Federal Credit Union; City of Albany (NY); On-site; USD 90,000 - 130,000; Full time

Job summary

First New York Federal Credit Union seeks an experienced Commercial Underwriter to assess financial condition and creditworthiness of commercial borrowers. You will provide independent, well-supported credit analysis aligned with risk management and growth objectives.

In collaboration with Commercial Loan Officers and senior management, you will support the full credit process, underwriting owner-occupied and investor CRE, and prepare clear credit presentations for loan committees.

Qualifications

• 3–5 years of experience in commercial credit analysis, underwriting, portfolio management, or related lending function.
• Bachelor's degree or equivalent in finance-related field; equivalent training considered.
• Experience with a credit union or community bank preferred.
• Experience underwriting commercial real estate and commercial and industrial loans preferred.
• Proficiency in Microsoft Office applications, including Word, Excel, and Outlook.
• Ability to analyze complex financial information and communicate conclusions clearly in writing and verbally.

Responsibilities

• Review and analyze business financial statements, tax returns, rent rolls, operating statements, debt schedules, and other financial information.
• Analyze commercial loan requests, renewals, modifications, and annual reviews, and prepare clear, accurate credit presentations.
• Perform global cash flow analysis incorporating related businesses, guarantors, and contingent obligations.
• Underwrite owner-occupied and investor commercial real estate transactions in line with policies and lending authorities.
• Evaluate real estate metrics: DSCR, LTV, debt yield, occupancy, cap rate, break-even occupancy, sensitivity analysis.
• Assess property-level performance and normalize NOI.
• Evaluate leases, tenant concentrations, rollover risk, vacancy, and market conditions.
• Review appraisals, environmental reports, and third-party due diligence.
• Conduct stress and sensitivity analyses on occupancy, rates, expenses, and NOI.
• Identify material credit risks and recommend mitigants, collateral, guarantees, covenants, reporting, and loan structures.
• Prepare weekly and monthly management progress reports.
• Perform other related duties to support operations.

Skills

Credit Judgment

Analytical Ability

Attention to Detail

Critical Thinking

Communication

Independence

Organization

Member Focus

Education

Bachelor's degree in Finance, Accounting, Economics, Business Administration, or related field

Equivalent commercial credit training

Tools

Microsoft Office

Job description

Description

The Commercial Underwriter evaluates the financial condition, creditworthiness, and repayment capacity of prospective and existing commercial borrowers. This role provides independent, well-supported credit analysis and recommendations that balance exceptional member service, prudent risk management, regulatory expectations, and the credit union's strategic growth objectives.

Working closely with Commercial Loan Officers, Loan Operations, and senior management, the Commercial Underwriter supports the full credit process and manages a diverse portfolio of commercial relationships. The position requires sound judgment, strong analytical skills, clear communication, and the ability to work independently across a broad range of industries and credit products.

The Commercial Underwriter works independently with limited supervision while contributing effectively in a team environment. The role partners regularly with Commercial Loan Officers, Loan Operations, senior management, and loan committees to support sound, timely credit decisions.

Duties & Responsibilities

• Review and analyze business financial statements, federal tax returns, personal financial statements, rent rolls, operating statements, debt schedules, accounts receivable and payable aging reports, and other relevant financial information.
• Analyze commercial loan requests, renewals, modifications, and annual reviews, and prepare clear, accurate, and well-supported commercial credit presentations.
• Perform global cash flow analysis incorporating related businesses, guarantors, and contingent obligations, as appropriate.
• Underwrite owner-occupied and investor commercial real estate transactions in accordance with credit union policies, procedures, and lending authorities.
• Evaluate commercial real estate using key metrics, including debt service coverage ratio, loan-to-value ratio, debt yield, occupancy, capitalization rate, break-even occupancy, and sensitivity analysis.
• Assess property-level operating performance and calculate normalized net operating income.
• Evaluate leases, tenant concentrations, rollover risk, vacancy, property condition, and relevant market conditions.
• Review appraisals, environmental reports, property condition reports, and other third-party due diligence materials.
• Perform stress and sensitivity analyses to assess the potential effects of changes in occupancy, interest rates, expenses, and operating income.
• Identify material credit risks and recommend appropriate mitigants, collateral requirements, guarantees, covenants, reporting requirements, and loan structures.
• Prepare weekly and monthly progress reports for management.
• Perform other related duties as assigned to support efficient credit union operations.

Requirements

• Three to five years of experience in commercial credit analysis, underwriting, portfolio management, or a closely related lending function preferred.
• Bachelor's degree in Finance, Accounting, Economics, Business Administration, or a related field preferred. Equivalent commercial credit training and relevant lending experience may be considered in lieu of a degree.
• Previous experience with a credit union or community bank strongly preferred.
• Experience underwriting commercial real estate and commercial and industrial loans preferred.
• Proficiency in Microsoft Office applications, including Word, Excel, and Outlook.
• Ability to analyze complex financial information and communicate conclusions clearly in writing and verbally.

Core Competencies

• Credit Judgment: Identifies primary and secondary sources of repayment and distinguishes acceptable risk from structural weakness.
• Analytical Ability: Translates complex financial information into clear conclusions and actionable recommendations.
• Attention to Detail: Produces accurate financial spreads, analyses, and credit presentations.
• Critical Thinking: Challenges assumptions and identifies risks that may not be evident from historical financial performance.
• Communication: Explains credit issues clearly and professionally to lenders, management, and loan committees.
• Independence and Collaboration: Provides objective credit analysis while maintaining productive partnerships with lending and operations staff.
• Organization: Effectively manages multiple underwriting assignments, annual reviews, priorities, and deadlines.
• Member Focus: Supports timely lending decisions without compromising prudent credit standards.

Work Schedule

Monday - Friday 8:15am - 5:00pm

Work Location

Fully On-Site