Commercial Underwriter + Credit Analyst – Chicago

The Federal Savings Bank; Chicago (IL); Hybrid; USD 70,000 - 100,000; Full time

Benefits offered by this job

PTO & Holidays

Work-life balance

Health insurance

Dental & Vision

FSA/HSA

Life insurance

Home loan discount

401k with match

Training programs

Career growth

Large-bank feel

Job summary

The Federal Savings Bank in Chicago, IL is hiring an experienced Commercial Credit Operations Specialist to join our team at our headquarters. The role blends underwriting and credit analysis with delinquency management in a hybrid schedule (3 days in office).

We offer a comprehensive benefits package and opportunities for career advancement within a large national bank that maintains a small-bank feel.

Qualifications

• Bachelor's degree in Accounting or Finance preferred.
• 3-5 years' related experience in commercial credit operations.
• Experience with Fiserv Cleartouch preferred.
• Experience with Encompass LOS preferred.
• Proficiency with Microsoft Excel.

Responsibilities

• 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.
• Assist in audits.
• Prepare assigned portions of monthly Credit Book.
• Complete BSA Loan Due Diligence.
• Review loans boarded to Cleartouch and alert to any errors.

Skills

Analytical thinking

Attention to detail

Communication with leadership

Autonomous/self-motivated

Problem solving

Education

Bachelor's degree in Accounting or Finance

Tools

Fiserv Cleartouch

Encompass LOS

Microsoft Excel

Job description

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
• Career advancement
• Big bank capability with a national footprint, small-bank feel

Full Benefit Offering

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
• Assist in audits
• Prepare assigned portions of monthly Credit Book
• Complete BSA Loan Due Diligence
• 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.