Loan Underwriter

Partnership Employment; New York (NY); On-site; USD 126,000 - 154,000; Full time

Job summary

Partnership Employment is assisting a New York community bank in recruiting a Senior Loan Underwriter to underwrite commercial credit, manage a loan portfolio, and lead a small team of underwriters and loan processors in New York.

You will present credit recommendations to the Loan Committee and Board while helping the bank grow lending and manage credit risk with minimal supervision.

Qualifications

• 8+ years of commercial underwriting at a bank
• Experience supervising and developing underwriters
• Experience with middle-market borrowers (sales up to about $100MM) and deals up to $60MM
• Strong credit memo writing and regulatory/compliance knowledge

Responsibilities

• Underwrite new and renewing commercial loans up to $60MM including construction, C&I, CRE, asset-based, SBA 7(a)/504 and nonprofit credits
• Assess borrowers and guarantors through financial statements, cash flow forecasts, ratios, and industry trends
• Monitor collateral via A/R aging reports and borrowing bases
• Write credit memos and present approve/decline recommendations to Loan Committee and Board
• Manage a portfolio including annual reviews and covenant compliance; handle non-loan credit products like ACH and overdraft lines
• Supervise and train underwriters and processors; coordinate renewals and amendments with closing teams

Skills

Commercial underwriting

Team supervision

Credit memo writing

Regulatory compliance

Middle-market lending

Credit analysis

Education

Bachelor’s degree in finance/accounting/economics/business

MBA or MS preferred

Job description

Salary: up to $140k depending on experience

About the role

A New York community bank is hiring a Senior Loan Underwriter to underwrite commercial credit, manage a loan portfolio and lead a small team of underwriters and loan processors. You’ll work with little supervision, make credit recommendations to the Loan Committee and Board, and help the bank grow its lending while keeping credit risk under control.

What you’ll do

• Underwrite new and renewing commercial loans, including construction, C&I, commercial real estate and permanent mortgages, asset-based loans, SBA 7(a)/504 and nonprofit credits, on deals up to $60MM.
• Assess borrowers and guarantors through financial statements, cash flow forecasts, key ratios and industry trends.
• Monitor collateral by reviewing A/R agings and borrowing base certificates.
• Write credit memos and present approve/decline recommendations to the Loan Committee and Board.
• Manage an existing portfolio that includes complex accounts: annual reviews, covenant compliance and corrective action when needed. Also handle non-loan credit products such as ACH and overdraft lines.
• Supervise and train underwriters and processors, and work with the closing and processing teams on renewals and amendments.

What you bring

• 8+ years of commercial underwriting at a bank, including construction, C&I and SBA lending.
• Experience supervising and developing underwriters.
• Experience with middle-market borrowers (sales up to about $100MM) and deals up to $60MM.
• Strong credit memo writing, plus solid knowledge of regulatory and compliance requirements.
• A BS/BA in finance, accounting, economics or business. An MBA or MS is preferred.

Nice to have: community bank experience, ABL field-exam exposure, and Spanish.