Senior Commercial Underwriter

Shore United Bank; Fredericksburg (VA); On-site; USD 100,000 - 150,000; Full time

Benefits offered by this job

Health insurance

401k with company match

Paid parental leave

Employee stock purchase plan

Education assistance

Wellness initiatives

Job summary

Shore United Bank in Fredericksburg, VA is seeking a Senior Commercial Underwriter to lead the Credit Administration team's underwriting of the Bank's largest and most complex commercial credits. You will collaborate with relationship managers, loan review, and executives to ensure credit quality, proper risk identification, and compliant loan structure.

This role requires deep expertise in cash flow analysis, loan structuring, and risk mitigation, with mentoring responsibilities for

Qualifications

• Eight+ years in commercial credit underwriting or related fields.
• Bachelor's degree in finance, accounting, economics, or related field preferred.
• Advanced knowledge of credit risk management and lending principles.
• Strong analytical and communication skills.

Responsibilities

• Underwrite complex commercial loan relationships including CRE, healthcare, real estate, and franchises.
• Prepare loan structures, covenants, and risk mitigation strategies.
• Lead credit approval packages for senior officers and Loan Committee.
• Mentor junior underwriters and provide training.
• Identify emerging risks and advise on risk mitigation.

Skills

Credit underwriting

Financial analysis

Communication skills

Leadership

Education

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

Tools

UCA cash flow analysis

Global cash flow analysis

DCF valuation

Appraisal review

Commercial real estate analysis

Job description

Shore United Bank is a full-service financial institution with a rich history dating back to 1876. In excess of $6 billion in assets, we offer innovative financial services delivered with the personal touch you expect. We serve a broad geographic area with branches in Maryland, Delaware, and Virginia, and we also provide a comprehensive suite of digital banking services that allow you to bank with us no matter where life takes you. In addition to banking, we offer trust and wealth management services through Wye Trust, a division of Shore United Bank. Together, our team of experienced professionals is dedicated to helping you achieve your financial goals.

Shore United Bank is hiring a full-time Senior Commercial Underwriter to join our team. The Senior Commercial Underwriter serves as the Credit Administration department's lead technical underwriting expert and is responsible for independently underwriting the Bank's largest and most complex commercial credit relationships. This position partners closely with relationship managers, credit administrators, loan review personnel, and executive management to ensure credit quality, appropriate risk identification, sound loan structuring, and compliance with Bank policies and regulatory expectations. The Senior Commercial Underwriter functions as a subject matter expert in commercial credit analysis and serves as a mentor and resource to Commercial Underwriters and Management Trainees. The role operates with significant independence and judgment, providing recommendations on credit structure, risk ratings, covenant packages, collateral support, and portfolio risk management.

What You'll Do

A detailed list of job duties includes (but is not limited to):

• Independently underwrites and evaluates the Bank's most complex commercial loan relationships, including commercial real estate, owner-occupied real estate, construction, healthcare, franchise, agricultural, investor real estate, and operating company credits.
• Conducts joint client meetings with Relationship Managers to evaluate and advise on loan structure and provide constructive feedback. These meetings may include borrowers as well as their accountants and other advisors.
• Analyzes financial statements, tax returns, appraisals, borrowing base reports, projections, and other supporting documentation.
• Performs advanced borrower, guarantor, and global cash flow analyses.
• Evaluates multiple repayment sources and identify strengths and weaknesses within proposed credit structures.
• Assesses collateral adequacy and review appraisal methodologies, discounted cash flow analyses, and valuation assumptions.
• Recommends loan grade assignments and appropriate risk ratings consistent with Bank policy.
• Identifies emerging risks and recommend strategies to mitigate potential loss exposure.

Loan Structuring

• Partners with Relationship Managers to develop appropriately structured credit facilities.
• Recommends loan covenants, guarantor requirements, collateral enhancements, and other risk mitigation measures.
• Provides guidance regarding policy exceptions, underwriting concerns, and transaction structures.
• Participates in discussions with lenders and credit officers regarding complex borrower relationships.

Approval Package Preparation

• Prepares comprehensive credit approval memoranda for presentation to senior credit officers, executive management, and Loan Committee.
• Develops narratives that clearly articulate borrower performance, repayment capacity, collateral position, management assessment, industry conditions, and risk factors.
• Ensures all analyses are thoroughly documented and supported.
• Quickly completes loan packages without sacrificing the quality of the analysis or missing key risks.

Technical Leadership

• Serves as a credit analysis subject matter expert for the underwriting team.
• Provides coaching, guidance, and technical support to Commercial Underwriters and Management Trainees.
• Assists with training related to underwriting standards, financial statement analysis, cash flow analysis, and credit policy.
• Reviews complex analyses and provide constructive feedback when appropriate.
• Promotes consistency in underwriting quality across the department.

Credit Approval Authority

• Exercises delegated credit approval authority within established Bank lending limits and policies, where applicable.
• Escalates heightened risk relationships and material policy exceptions to appropriate approval authorities.
• Demonstrates sound judgment and consistent risk assessment in exercising approval authority.

Credit Administration Support

• Participates in special projects related to credit process improvement, policy enhancement, and portfolio risk management.
• Supports regulatory examinations, internal audits, and loan review activities.
• Identifies opportunities to improve underwriting efficiency and effectiveness.
• Assists management in monitoring portfolio trends and emerging credit risks.
• Identifies early warning indicators of credit deterioration and assist RMs and RCEs in developing strategies for criticized and classified credits.
• Cooperates with, participates in, and supports the adherence to all internal policies, procedures, and practices in support of risk management and overall safety and soundness and the Bank's compliance with all regulatory requirements, e.g., Community Reinvestment Act (CRA), Bank Secrecy Act (BSA), Equal Credit Opportunity Act, SAFE Act, etc.; ensures that the office and all personnel adhere to the same.
• Participates in required training sessions, including training for compliance with BSA/AML policies and procedures.

Location: Fredericksburg Loan Production Office (LPO) - 10 Chatham Heights Rd, Suite 104, Fredericksburg, VA 22405

Position Type/Expected Hours Of Work

• Full-time.
• Exempt.
• Days of Work: Monday-Friday.

Required Education And Experience

• High school diploma/GED equivalent.
• Minimum of eight (8) years of commercial credit underwriting, commercial lending, or credit analysis experience.
• Bachelor's degree in finance, accounting, economics, business administration, or a related field strongly preferred; equivalent combination of education, training, and relevant experience will be considered.
• Advanced knowledge of commercial lending principles and credit risk management.
• Demonstrated expertise in:
• UCA cash flow analysis
• Global cash flow analysis
• Comparative financial analysis
• Industry analysis
• Commercial real estate analysis
• Construction lending analysis
• Appraisal review
• DCF valuation methodologies
• Loan structuring and covenant development
• Advanced knowledge of applicable banking regulations and regulatory expectations.
• Strong verbal and written communication skills with the ability to distill complex information into clear and concise presentations and loan packages.

Compensation

• The pay range for this position is $100,000 to $150,000 annually.
• Actual compensation offered may vary from the posted hiring range based on factors such as relevant experience, time in role, base salary of internal peers, prior performance, business sector, licensure requirements and/or skill level, and will be finalized at the time of offer.

Company Benefits

• Join a family- and community-oriented workplace that offers a team environment, along with a collaborative and friendly place to work.
• Comprehensive benefits package for full-time, permanent employees including health, dental, vision, company-paid life insurance, mental health well-being, company paid short-term and long-term disability, and much more!
• Paid parental leave
• 401k savings plan with up to a 4% company match
• Employee Stock Purchase Plan
• Education Assistance
• Employee perks such as: employee banking services, loan discount program, education assistance, career development program, Employee Assistance Program, and wellness initiatives.
• Opportunity for growth and advancement
• Paid training program and continuous training sessions throughout the year on various topics
• Generous paid time off and paid sick time
• Community involvement opportunities

Shore United Bank is an affirmative action/Equal Opportunity Employer. Shore United Bank is an E-Verify participant.