Commercial Underwriter II - CRE

Busey Bank; Phoenix (AZ); On-site; USD 90,000 - 128,000; Full time

Benefits offered by this job

401(k) match

Profit sharing

Employee stock purchase plan

Paid time off

Medical insurance

Dental insurance

Vision insurance

Company-paid life insurance

Long-term disability

Short-term disability

Wellness incentives

Employee assistance program

HSAs / FSAs

Job summary

Busey Bank is seeking a Commercial Underwriter to provide accurate, timely credit underwriting in support of portfolio management and new business development for Relationship Managers.

Responsibilities include preparing memos, analyzing financial data, and evaluating loan risk with attention to market conditions and collateral. Requires 5+ years in commercial credit and a Bachelor's degree in Business or Finance.

Qualifications

• Requires Bachelor's degree in Business or Finance.
• 5+ years Commercial Credit experience.
• 2+ years in the Commercial Underwriter role.
• Strong oral and written communication, teamwork, and MS Office proficiency.
• Experience analyzing financial data, market trends, and evaluating risk factors.

Responsibilities

• Assist Commercial Relationship Managers with preparation of opportunity memos for new and existing relationships.
• Prepare clear Commercial Credit Approval Request (CCAR) memos with pertinent loan risk information.
• Spread and analyze financial statements including Debt Service Coverage Ratios per Busey guidelines.
• Use cash flow, liquidity, profitability and leverage to assess credit risk.
• Evaluate repayment sources considering market conditions and cash flow projections.
• Examine loan applications for commercial properties including financial statements and third party reports.
• Assist with portfolio management tasks including testing covenants and portfolio reviews.
• Maintain knowledge of Commercial Banking Loan Policy and systems (nCino).
• Assist in the sales process and accompany Relationship Managers on calls.
• Approve loans within authority and propose approvals outside authority when needed.
• Participate in pipeline meetings and supporting renewals.

Skills

Strong communication

Teamwork

Microsoft Office

Financial accounting

CoStar

Financial data analysis

Education

Bachelor's degree in Business or Finance

Tools

CoStar

Job description

life insurance, paid time off, 401(k), profit sharing

Position Summary

The Commercial Underwriter provides accurate, timely, and succinct credit underwriting to support the company's portfolio management and new business development efforts for the Relationship Managers they are assigned to support. Duties & Responsibilities

• Commercial Underwriter Duties:
  • Assist Commercial Relationship Managers with the preparation of opportunity memos for new and existing relationships.
  • Work with Commercial Relationship Managers or other Lending staff to prepare clear and concise Commercial Credit Approval Request (CCAR) memos including pertinent information associated with the overall risk of the loan, identifying the strengths and weaknesses of the Borrower.
  • Financial statement spreading and analysis, including calculation of Debt Service Coverage Ratios per Busey guidelines.
  • Use financial data such as cash flow, liquidity, profitability, and leverage to determine and minimize the overall risk of extending credit to Borrowers or Sponsors.
  • Evaluate repayment sources, considering factors such as market conditions, tenant creditworthiness, and cash flow projections.
  • Analyze cash flow and repayment capacity to assess credit risk and support sound lending decisions.
  • Examine loan application requests for commercial properties, including reviewing financial statements and projections, assessing the borrower's financial strength, evaluating property characteristics, and reviewing third party reports (Appraisals, Property Condition Assessments, and Phase I Environmental Site Assessments).
  • Assist with Portfolio Management duties to include testing financial covenants, preparing portfolio reviews and sensitive asset reports, as assigned.
  • Maintain a working knowledge of the Commercial Banking Loan Policy and systems, including nCino.
  • Assist in the sales process, including accompanying Relationship Managers on customer and prospect calls.
  • Approve loans that are within defined authority levels; recommend loan approval outside of defined authority levels.
  • Participate in pipeline meetings to develop knowledge of prospective opportunities as well as upcoming renewals.
  • Assist with other duties or special projects as assigned.

• Commercial Underwriter II:
  • Performs all outlined duties under minimal supervision
  • Demonstrates independent thinking and handles complex issues

Education & Experience

Knowledge of:

• Strong oral and written communication skills
• Teamwork and collaboration skills
• Proficiency in Microsoft Office
• Knowledge of financial accounting
• Experience utilizing CoStar
• Strong ability to analyze financial data, market trends, and evaluate risk factors

Ability to:

• Multi-task and work independently
• Analyze and solve problems
• Take independent action within established guidelines and develop new procedures and approaches when needed
• Perform duties under frequent time pressures

Education and Training:

• Requires Bachelor's degree with a concentration in Business or Finance.
• Requires 5 or more years of Commercial Credit experience.
• Requires 2 or more years of experience in the Commercial Underwriter role.

Compensation and Benefits

Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.

(Base Pay Range:$90,000 - 128,000/year)

Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being-now and in the years to come-are important to us. Busey's Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit BuseyTotal Rewardsfor more information.

Equal Opportunity

Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. VisitBusey.com/Careersto learn more about Busey's Equal Opportunity Employment.

Unsolicited Resumes

Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies ("Agency"), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings ("Agreement"). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.