Underwriter

Background

The Olea Group has provided consulting and third party underwriting services to Community Development Financial Institutions across the United States since 2017. We underwrite approximately $100 million dollars of small business financing per year. CDFIs outsource their underwriting to us because we provide trustworthy, straightforward, on-demand financial analysis that aligns with their specific loan policies and occurs in their unique software and systems. Our work increases the capacity of mission-based lenders and safeguards their portfolios while also saving them money. 

We currently operate as a team of three underwriters working remotely from across the United States. In addition to providing reliable, consistent underwriting services to CDFIs, we also provide flexible, interesting, and meaningful work for experienced CDFI professionals and motivated individuals looking to enter the space.

Summary

The Underwriter’s primary responsibility will be to underwrite small business loans, and occasionally mortgage loans, between $500 and $500,000. For each loan underwritten, the Underwriter will complete a detailed analysis of repayment capacity, credit history, collateral, historical business performance, and projected business growth. 

This job will also provide an opportunity to advance quickly with our growing company. Depending on skillset and interest, the individual we hire may have an opportunity to take on operations responsibilities, train new employees, and play an active role in internal process improvement in addition to their underwriting responsibilities.

Responsibilities

See Position Summary above.

Requirements

• Commercial underwriting or lending experience at a mission-based small business lender (ideal), or similar financial experience in actuarial, audit, business analysis, or accounting
• Bachelor’s degree from a US-based accredited college or university, ideally in accounting, finance, economics, or a related field
• Ability to understand and interpret business financial statements  
• Proficiency in Excel 
• Meticulously attentive to detail
• Highly organized and reliable
• Excellent written and verbal communication skills
• Ability to conduct oneself in a professional and polished manner among diverse groups of people 
• Aptitude for working independently 
• Proficiency in Spanish preferred
• Proficiency Microloan Management Services (MMS®), SPARK, LoanWell, Lenderfit, or similar loan origination software preferred

We would like to identify and begin training the right person for this role as soon as possible, but can accommodate a start date as late as January 2024. Loan volume varies day to day and week to week, so the right person for this role will be willing and able to adjust their working hours to meet the needs of our clients. This is a 100% remote position, with the ability to set your own schedule within regular business hours so long as the schedule is consistent week to week, meets the needs of our clients for occasional ‘live’ interaction, and includes at least four hours of work each weekday.

Compensation and Benefits

This is a salaried position and pay will be commensurate with experience and schedule. The expected range for a junior/less experienced person is $45,000 – $60,000, and $60,000 – $75,000 for a senior/more experienced candidate. As a family first company, we offer our employees the ability to negotiate what full time means to them (30, 35 or 40 hours per week), and pay will vary accordingly. 

The Olea Group pays 100% of healthcare premiums for employees who opt in to our Blue Cross Blue Shield PPO healthcare plan (an HMO plan is available for employees based in Michigan).  We also offer dental and vision coverage, and evaluate additional benefits to add each year as we grow. Our time off policy is generous: in addition to offering paid sick and vacation time off, The Olea Group closes for all federal holidays, the day after Thanksgiving, and the final week of December each year.

How to Apply

To apply for this position, please email a PDF version of your resume to Amy Collins at amy@theoleagroup.com. In the body of your message, describe your professional experience and qualifications as well as what interests and excites you about the position. Please do not call us to express your interest in working for The Olea Group. 

The Olea Group is an equal opportunity employer and we encourage people with diverse backgrounds and experiences to apply. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.