Sr. Underwriter

Craft3; Oregon (WI); Hybrid; USD 90,000 - 130,000; Full time

Job summary

Craft3 is seeking a Sr. Underwriter to join our Lending Team in the WA or OR area.

The role underwrites commercial loans, conducts financial analysis for prospective and existing borrowers, and supports loan closing, post-closing, and ongoing credit monitoring. You will build cash flow models, evaluate risk, mentor junior underwriters, and collaborate with lenders and Credit Risk Management to structure terms that fit client needs while managing portfolio risk.

Qualifications

• Six to ten years’ experience in business or financial analysis.
• Understanding of GAAP and financial statement analysis.
• Ability to read and interpret complex contracts and regulations.
• Excellent written and oral communication skills.

Responsibilities

• Underwrite complex credits (> $1MM) with structured deals.
• Prepare credit recommendations with cash flow analyses.
• Develop cash flow models and write clear memos.
• Coordinate with lenders and manage credit pipeline.
• Mentor junior underwriters and support onboarding.

Skills

Financial analysis

Underwriting

GAAP knowledge

Strong math skills

Communication skills

Education

Bachelor's degree in finance/accounting or related field

Tools

Excel

PowerPoint

CRM software

Job description

About Craft3

Craft3 is on a mission to build a thriving, just, and empowered Pacific Northwest. As a nonprofit community lender founded in 1994, we provide responsible financing and support to entrepreneurs, businesses, and communities that traditional finance often overlook. We believe everyone deserves access to capital and the chance to succeed. We work with people who have been denied access to opportunity — helping them build wealth, strengthen their communities, and create lasting change across Oregon and Washington.

Our team is passionate about our mission and brings expertise from banking, community development, finance, accounting, natural resources, and regional planning. While they connect to our mission in different ways, all staff care deeply about using finance to expand opportunities and create a more inclusive world.

Ready to take the next step? We are looking for a Sr. Underwriter to join our amazing Craft3 team in the WA or OR Area.

What We Offer

At Craft3 we value our team members and offer a comprehensive benefits package that supports their health, well-being, and ongoing professional growth.

• Comprehensive Medical, Dental and Vision Coverage to keep you and your family healthy
• 403(b) Retirement Plan with matching contribution to help secure your financial future
• Generous Paid Time Off (PTO) that includes 9 Company Holidays + 2 Paid Weeks of Rest annually to relax and recharge
• 32 hours of Paid Volunteer Time Off (VTO) – give back to the community while we support your time
• 12 weeks of Paid Parental Leave to support you through important family milestones
• $ 5,250 per year in Tuition Reimbursement to invest in your continuous learning
• $500 per year Wellness reimbursement each year to encourage your holistic health
• Sabbaticals for all employees after 7 years of service
• Flexible work arrangements including Hybrid and Remote Work Options to fit your lifestyle
• Access to welcoming physical office spaces in Seattle, Portland, and Astoria .

Reporting to the Director of Credit Risk, the Sr. Underwriter at Craft3 underwrites commercial loans and conducts financial analysis for prospective and existing borrowers. This role supports lenders through loan closing, post-closing activities, ongoing financial analysis, and credit quality monitoring. As an integral partner of the Lending Team, the Sr. Underwriter builds strong working relationships with lenders, Credit Risk Management, and other underwriters to evaluate new commercial credit opportunities, underwrite new and renewed credit exposure, and help manage a loan portfolio. The work includes gathering information, conducting research and analysis, identifying and mitigating underwriting risk in commercial lending, and interacting with borrowers by phone or, occasionally, in person.

Essential Duties and Responsibilities

Craft3 reserves the right to change, add, or delete responsibilities and duties. Essential duties and responsibilities include some or all of the preceding; these are not, however, intended to be all-inclusive.

• Underwrite complex large credits (>$1MM), including multi-party borrowers, New Market Tax Credits, 3rd party agreements, or unusual financing structures.
• Prepare and present credit recommendations supported by detailed analysis of financial statements, projections and business plans. Evaluate borrower’s cash flow to assess feasibility and appropriate terms.
• Structure loans with appropriate covenants, closing conditions, and third party guarantees or participations to mitigate risk. Develop detailed cash flow models for a variety of loan types and structures. Summarize complex transactions and assess repayment ability and borrower’s ability to implement their plan.
• Support periodic credit servicing of loans within the portfolio.
• Analyzes industry trends, competitive dynamics and macroeconomic events affecting borrower’s creditworthiness.
• Effectively and efficiently communicate knowledge and expertise to others (internally and externally).
• Mentor and support the development of other Commercial Underwriters.
• Coordinate and support new lender onboarding related to underwriting process
• Participate in community events and outreach activities that elevate Craft3’s visibility.
• Manage multiple projects simultaneously and prioritize workload effectively.
• Coordinate credit pipeline for assigned lenders.
• Seek assistance and insight from others when appropriate

Authorities

• Assign appropriate risk rating, identify key risks, credit worthiness, covenant compliance.
• Endorse Credit Memos for Staff Loan Committee approval meetings, as assigned.
• Full voting participation on Staff Loan Committee approvals, as assigned.
• Lead training and cross training efforts related to underwriting and credit processes.
• Recommend and implement underwriting process improvements and enhancements to information flow between Underwriters and Lenders. Monitor and prioritize the credit review process.
• Ensures compliance with credit policy and funder or guarantor requirements, particularly SBA and USDA on assigned credits.
• Endorse waiver or forbearance of minor covenants violations.

Qualifications

• Ability to identify and prioritize Craft3 risks in a proposed or existing borrower; develop appropriate risk mitigation strategies.
• The role will require the ability to read, analyze, and interpret technical procedures, legal documents or governmental regulations and the interpretations impact on deal risk or structuring.
• Basic Algebra skills required. Able to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
• Proficiency with major software programs; e.g. Contact Management Systems, Word Processing, PowerPoint and Spreadsheet software.

Direct / Indirect Reports

This position will not manage any direct reports.

Knowledge and Experience

• Six to ten years’ experience in business or financial analysis. Preferably in commercial lending, underwriting or the equivalent combination of education and work experience.
• Understanding of financial statement analysis and Generally Accepted Accounting Principles (GAAP) including experience in analyzing historical financials, projections and the nuances of underwriting start-up businesses.
• Thorough understanding of the principles of finance, strong math skills, and the ability to identify and resolve complex financial problems are essential.
• A basic understanding of the principles of community development finance and government guarantees (USDA and SBA).
• Excellent written and oral communication skills, including a comfort level with public speaking.

Preferred Skills and Abilities

We encourage all candidates with diverse perspectives and backgrounds to apply regardless of whether you meet all the requirements of the job description. Some specific things we are looking for in this role are candidates who demonstrate:

• Able to deal with frequent change, delays, or unexpected events. Needs to have an ability to balance multiple work assignments, organized work habits, and work independently and in partnership with lending partners.

Travel

Periodic travel is expected for customer and office visits in Oregon and Washington, as well as company events.

Physical Demands

Frequently requires use of manual dexterity and repetitive motions, primarily with the wrists, hands, and/or fingers. Must be able to occasionally list and/or move up to 10 pounds.

Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Craft3 is an Equal Opportunity Employer

Craft3 is an Equal Opportunity Employer. We comply with all applicable laws prohibiting discrimination and make all hiring and employment decisions based on individual qualifications and merit. Veterans and individuals with disabilities are encouraged to apply. If accommodation is needed to participate in the job application or interview process, or to perform essential job functions, please contact our Talent Acquisition Team at [e-mail], 888-231-2170.

Employment offers may require final candidates to successfully complete and pass abackground check prior to employment, consistent with business necessity and applicable federal, state and local law. We’re actively working to create a workplace where everyone can thrive. We believe different perspectives make us stronger and help us better serve the Pacific Northwest.