UNDERWRITER

Commercial Loan Underwriter – Job Description

The Commercial Loan Underwriter is responsible for evaluating and underwriting a variety of commercial and industrial (C&I) loan requests, including revolving lines of credit (RLOCs), term loans, and business acquisition financing. This role also encompasses underwriting commercial real estate (CRE) loans for both investment/income-producing and owner-occupied properties. The Underwriter conducts thorough financial statement and tax return analysis, integrating borrower data with external information to assess creditworthiness and risk. Responsibilities include:

• Preparing financial spreads. The Underwriter must spread the borrower’s financial statements in accordance with bank standards, ensuring all statements reconcile accurately. Take full responsibility for the accuracy and integrity of the spreads, with particular attention to the proper treatment of intangible assets and adherence to all bank policies and procedures.
• Performing in-depth risk assessments and making sound credit recommendations. The Underwriter will prepare and take ownership of detailed Loan Approval Memorandums (LAMs), which include a comprehensive risk assessment, analysis, and a clear recommendation to approve or decline the credit request. The underwriter is responsible for supporting their recommendation with thorough documentation and analysis. By signing the LAM, the underwriter affirms their agreement with the approval decision and all terms and conditions outlined in the credit memo, taking accountability for the quality and integrity of the recommendation.
• Portfolio management. The Underwriter manages an existing loan portfolio by monitoring financial performance, tracking covenant compliance, and conducting periodic site visits and annual loan reviews.
  • Underwriters are responsible for promptly raising awareness to the Chief Credit Officer (CCO) and/or their appointed Deputy of all covenant violations.
  • Responsible for the timely completion and delivery of all notices of non-compliance to the Borrower, directly or via the Relationship Manager.
• Loan renewals. Underwriters are expected to proactively manage loan maturities to prevent loans from becoming past due. This includes actively monitoring their loan portfolio, gathering necessary information, and processing renewals well in advance of maturity dates. Underwriters must not rely on short-term extensions to avoid a past due loan status, and are responsible for ensuring that no loan reaches past due status due to inaction. If a loan is at risk of maturing prior to approval of loan renewal, underwriters are required to escalate the matter at least 30 days prior to maturity and coordinate with the CCO and/or their assigned Deputy to develop an approved strategy. Failure to address potential matured or past due loans within this timeframe is considered underperformance in maturity management. Under no circumstance should a loan be allowed to go 30 days past due over a quarter end.
• Asset based loans. The Underwriter, as applicable, is responsible for Asset-Based loans and must take full ownership of enforcing the bank’s collateral eligibility requirements, including understanding dilution factors, advance rates, and borrowing base formulas. They are expected to ensure the borrower submits timely and accurate borrowing base certificates and to verify that reported collateral values comply with the loan agreement. Additionally, underwriters must monitor collateral audits to confirm the existence and quality of pledged assets, such as accounts receivable and inventory, and proactively identify and resolve any over-advances to maintain continuous compliance with the borrowing base covenant.
• Communication. The Underwriter collaborates closely with internal teams, including relationship managers, loan processors, credit administration, and senior management, while also interacting with external parties such as clients, CPAs, and appraisers. Additionally, this role contributes to internal approval processes, and participates in loan committees.

Performance Metrics:

• Loan approval turnaround times.
• Quality of analysis and LAMs
• Portfolio delinquency and default rates.
• Accuracy of risk ratings and documentation.
• Compliance with internal and external audit standards.

Qualifications:

• Minimum 2+ years of experience in C&I and CRE loan underwriting.
• Strong financial analysis and risk assessment skills, with the ability to interpret complex financial statements, business reports, and legal documents.
• Excellent oral and written communication skills for effective interactions with internal stakeholders, clients, and third-party vendors.
• Ability to manage multiple tasks and meet tight deadlines in a fast-paced environment while maintaining attention to detail.
• Strong analytical, organizational, and decision-making skills.
• Self-motivated with a strong sense of urgency and ability to work independently.
• Proficiency in Microsoft Office Suite, CRM systems, and other financial applications (Ncino and Salesforce are a plus).
• Capacity to make high-quality credit recommendations and clearly document underwriting decisions.

This role is ideal for individuals who thrive in a detail-oriented, analytical environment and are committed to maintaining high credit standards while supporting the bank’s commercial lending activities.