Underwriting Analyst III - Equipment Finance

Channel; Oak Knoll (MN); On-site; USD 100,000 - 150,000; Full time

Benefits offered by this job

Medical, dental, and vision plans

401K with company match

PTO policy

HSA and FSA options

Life insurance

Disability plans

Job summary

Channel is seeking an Underwriting Analyst to assess finance applications from small to mid-sized businesses and determine creditworthiness. This role handles quick decisions on small ticket equipment financing up to $150,000 in a high-volume environment.

You will analyze business and personal credit, financial statements, tax returns, and other data. Channel’s model uses data-driven scoring to support decisions and drive growth.

Qualifications

• 5-7 years in financial services, credit or underwriting.
• Commercial underwriting experience with small businesses a plus.
• Associates or Bachelor’s degree or equivalent education/experience preferred.

Responsibilities

• Adjudicate credit and approve new finance applications within $100,000-$150,000 level of authority.
• Make timely decisions with limited information.
• Communicate decisions to partners professionally.
• Build relationships and provide exceptional service to partners.
• Collaborate with sales to grow existing and new customer relationships.
• Protect Channel from fraud and aid in pricing transactions for risk.
• Complete review and recommend approvals up to $100,000.
• Second sign-off on approvals when needed.
• Analyze financial statements and seek process improvements.
• Identify underwriting strategies to differentiate Channel in equipment finance.

Skills

Strong math & analytics

Multitask & adaptable

Detail oriented & organized

Competitive drive

Interpersonal skills

MS Office (Excel & Word)

Financial statement understanding

Education

Associates or Bachelor's degree or equivalent

Job description

Description

The Underwriting Analyst inputs and reviews finance applications from small to mid-sized businesses to determine the credit worthiness of the applicant, size and term of the financing offer. The position will operate within our fast-paced high-volume environment and be accountable for quick decisioning on small ticket equipment finance applications up to $150,000.

The candidate will make independent decisions through evaluation of business and personal credit reports, financial and bank statements, tax returns and other credit information. Channel has a scoring model built on millions of datapoints to aid in the decision making.

The best candidates will be self-motivated, team-oriented, and eager to be a part of a rapidly growing business.

Key Responsibilities

• Adjudicate credit and approve new finance applications within $100,000-$150,000 level of authority.
• Make timely decisions with limited information.
• Professionally communicate decisions to our partners.
• Build relationships and offer exceptional service to our partners to ensure continued flow of business.
• Communicate and work proactively with the sales team to help further penetrate our relationships with existing and new customers.
• Protect Channel from fraud and aid in pricing transactions for the appropriate risk.
• Complete review and recommend approvals up to $100,000.
• Second Sign off
• Financial Statement analysis and continuously evaluate process improvement
• Continuously identify and implement underwriting strategies which make Channel a recognized, differentiated leader in the equipment finance industry.
• Keeps abreast of industry and competitor trends.

Requirements

Skills & Specifications:

• Strong math and analytical skills.
• Must be able to multitask and be highly adaptable to change.
• Must be detail oriented, have excellent organizational and time management skills.
• Competitive drive and strong history of accomplishment.
• Good interpersonal relationship skills and motivation for personal growth.
• Required knowledge of computer systems and proficient in Microsoft Office (Excel and Word).
• Must have an understanding of financial statements.

Education & Qualifications:

• 5-7 years in a financial services, credit or underwriting function.
• Experience in a commercial underwriting function working with small businesses is a plus.
• Associates or Bachelor’s degree or equivalent education/experience is preferred.
• Must located in and able to work out of our Channel offices in Minnetonka or Marshall Minnesota

Company Summary

Channel is a leading provider of equipment finance and working capital funding solutions for small businesses, exclusively through Equipment Finance Companies. Utilizing customized technology and business processes, a strong balance sheet, and risk analytics, Channel provides single-source financing that supports third-party originators and their customers who have business growth opportunities and a need for capital.

Established in 2009, Channel is the only full-service independent lender offering a single-source solution for equipment finance and working capital exclusively through equipment finance companies for their small and midsize business customers. The company is headquartered in Minnetonka, MN, with additional offices in Atlanta, GA, Des Moines, IA, and Marshall, MN. We are proud to be rated a Top Workplace.

Channel empowers and trains team members at all levels to make quick decisions in service to our relationships and ensure the flexibility and nimbleness required to compete in today’s marketplace. Channel is the perfect workplace for those who are motivated and have a desire to be part of a fast-growing, agile, and diverse organization where you can make a difference every day.

The company offers a flexible work environment and encourages innovation and team member development. Benefits include medical, dental, and vision plans with HSA and FSA options; life insurance and disability plans; along with a generous PTO policy and employer-matched company 401K plan.