Commercial Underwriter III
Company: Hope Enterprise Corporation
Job Function: Financial Services
Background
HOPE (Hope Enterprise Corporation, Hope Credit Union, and Hope Policy Institute) provides financial services and leverages resources. It engages in advocacy that strengthens the financial health and wealth of people in under-resourced Deep South communities. Since 1994, these efforts have benefitted more than three million people in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee, influencing billions in persistent poverty communities nationwide. Learn more at https://www.hopecu.org/.
Summary
- Title: Commercial Underwriter III
- Department: Commercial Lending
- Reports To: Senior Vice President, Commercial Lending
- Supervises: N/A
- Job Classification: Full-time, Exempt
- Location: AR, AL, MS, LA & TN
The Commercial Underwriter III is responsible for conducting a credit and financial analyses for new loan requests to evaluate safety and soundness while minimizing risk for the organization. Generally, the Commercial Underwriter III will be responsible for more complex loans and analyses, consisting of LIHTC (Low Income Housing Tax Credit), Large Commercial Real Estate transactions and Commercial Industrial Loans. The Commercial Underwriter III will progressively review and underwrite New Market Tax Credits transactions. The Underwriter shall have some renewable energy or solar underwriting experience. The Underwriter may assist Portfolio Management and other areas of the Commercial Lending team as needed.
Responsibilities
- Collaborate with the loan officers and market leaders to discuss credit requests and develop strategies to identify and mitigate any potential risk.
- Conduct initial review of the incoming loan packages by determining creditworthiness and compliance with the Credit Union’s policy and the NCUA.
- Analyze applicant’s business operations, historical cash flow, balance sheet and financial condition, management structure, collateral, projections and compare these elements to RMA when applicable.
- Calculate appropriate financial ratios utilizing, but not limited to, the following methods UCA, Net Operating Income, EBITDA, and Global Debt Service.
- Research and investigate applicable industry and market data/trends.
- Coordinate and incorporate third party reports into the credit analysis when appropriate.
- Review and determine viability of projections, when applicable, for the analysis.
- Review and restructure deals as appropriate.
- Prepare a credit memorandum for presentation to the Credit Committee, with final recommendation.
- Participate in the periodic review of existing portfolio credits, as needed
- Assist in the preparation of Loan Extensions/Modifications, as needed
- Stay abreast of NCUA regulations, industry changes and the credit culture.
- Perform general administrative duties such as attending meetings, report production, etc.
- Assist with special projects as requested/assigned by manager
- Other duties as assigned
Requirements
Required Qualifications
- Bachelor’s Degree in Finance or Accounting
- 7 or more experience in commercial credit analysis and underwriting
- Proven expertise in credit and financial analysis, with strong verbal and written communication skills)
- Proficient in navigating multiple computer systems and applications, with expertise in financial spreadsheets, document creating and/or editing
Preferred Qualifications
- Experience in development finance is preferred
- Renewable Energy / Solar Lending
- Experience with Moody’s KMV Financial Analyst or Baker Hill / NextGen, or similar financial spreading software or applications
Key Competencies & Skills:
- Ability to read and interpret documents and write routine reports and correspondence
- Ability to speak effectively before groups of customers and employees of the organization
- Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals
- Ability to compute rate, ratio and percent and interpret data.
- Ability to deal with problems involving a few concrete variables in standardized situations.
- Ability to evaluate creditworthiness from multiple structured and unstructured variables.
- Ability to restructure loans as necessary.
- Organizational awareness
- Attention to Detail
- Problem Solving
- Usage of Technical Expertise
- Written Communication
- Result Orientation
Compensation and Benefits
- Paid Vacation and Sick Time
- 11 Paid Holidays
- 401(k) with Company Match
- Medical, Dental, and Vision Benefits
- Flexible Spending Account (FSA)
- Disability Benefits
- Life Insurance, Critical Illness, Accident
- Employee Assistance Program (EAP)
- Tuition Reimbursement, Professional Development
How to Apply