Commercial Underwriter + Credit Analyst - Chicago

The Federal Savings Bank; Chicago (IL); Hybrid; USD 75,000 - 110,000; Full time

Benefits offered by this job

Holidays and Paid Time Off

Health, Dental, and Vision insurance

FSA and HSA plan options

Company-paid life insurance

Employee Home Loan Discount

401k with partial match

In-house training opportunities

Job summary

The Federal Savings Bank, headquartered in Chicago, IL, seeks an experienced Commercial Credit Operations Specialist to join its home-lending-focused team. The role blends underwriting and credit analysis with process improvements, reporting to senior leadership.

The hybrid schedule requires 3 days in the Logan Square office and commuting eligibility for applicants living within a reasonable distance. Responsibilities include underwriting commercial loans, guiding loan structuring, preparing

Qualifications

• Bachelor's degree in Accounting or Finance preferred.
• 3-5 years' related experience in commercial credit operations.
• Fiserv Cleartouch software experience strongly preferred.
• Encompass Loan Originating System experience strongly preferred.
• Proficiency in Microsoft Excel is required.

Responsibilities

• Underwrite commercial loans and prepare CAF/CAM for Credit Committee.
• Provide insights on loan products, structuring and approvals.
• Lead process improvements to enhance workflow and compliance.
• Coordinate with closing to ensure terms are met.
• Track financial statements and prepare annual reviews.
• Support Monthly Watchlist reporting and interacts with management.

Skills

3-5 years' experience in commercial信用

Education

Bachelor's degree in Accounting or Finance

Tools

Fiserv Cleartouch

Encompass Loan Originating System

Microsoft Office / Excel

Job description

We’re created a little differently. We’re a federally chartered bank focused primarily on home lending. The Federal Savings Bank is hiring an experienced Commercial Credit Operations Specialist to join our team based in our Chicago, IL corporate headquarters.

This position is based in the Logan Square neighborhood in Chicago, IL and requires the ability to work a hybrid schedule (3 days/week in office). Qualified candidates should reside a commutable distance at the time of application.

What We Offer

• Holidays and Paid Time Off that increases with length of employment
• Company culture that fosters work/life harmony
• Health, Dental, and Vision insurance plans
• FSA and HSA plan options
• Company-paid life insurance
• Employee Home Loan Discount
• 401k with partial match
• In-house virtual training opportunities to broaden your industry knowledge
• Big bank capability with a national footprint, small-bank feel

Duties And Responsibilities

Commercial Loan (60% Underwriting/20% Credit Analysis)

• Provide insight to the Sales team on Commercial loan products and requirements
• Provide guidance on loan structuring and approval process to Mortgage Bankers
• Lead initiatives to implement process, procedure, and technology solutions to improve workflow, tracking and adherence to compliance.
• Underwrite Commercial loans including preparation of CAF/CAM and present to Credit Committee (consisting of Chairman of the Board, President, and outside Director)
• Collaborate with the closing team on approved loans to ensure terms are met
• Request and track financial statements
• Prepare annual reviews using financial statements
• Prepare and participate in Loan Committee discussions with Senior Leadership
• Prepare assigned portions of monthly Credit Book
• Review loans boarded to Cleartouch and alert to any errors

Delinquency Workout (20%)

• Track all Commercial loans 60+ days delinquent, contact borrower, and collect past due amounts
• Prepare workout plan (foreclosure, modification, extension, etc.)
• Prepare Watchlist report as needed
• Prepare Default letter in conjunction with attorney
• Manage foreclosure/bankruptcy process with the goal of resolving the default as quickly as possible
• Obtain updated appraisals
• Arrange listing of property with sales agent and monitor for appropriate market awareness
• Provide regular updates to management on progress or issues that arise
• Discuss activity in the Monthly Watchlist Report with management

Requirements

• Bachelor's degree in Accounting or Finance preferred
• 3-5 years' related experience in commercial credit operations
• Fiserv Cleartouch software experience strongly preferred
• Encompass Loan Originating System experience strongly preferred
• Proficiency in Microsoft Office, particularly in Excel
• Demonstrate professionalism when responding to deadlines and matters of urgency
• Creative problem-solver
• Autonomous and internally motivated
• Must be resourceful in utilizing tools and information available
• Ability to thrive in minutiae/highly attentive to details
• Communicate with ease and professionalism with high levels of leadership
• Favorable credit and background required

The Federal Savings Bank is an equal opportunity employer. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.