Senior Commercial Underwriter
Hanover Bank, Hauppauge, NY, United States
Senior Commercial Underwriter
Hanover Bank is looking for a full-time Senior Commercial Underwriter to join our team. The Senior Commercial Underwriter is responsible for underwriting commercial loans, inclusive of C&I and CRE loans, while ensuring compliance with appropriate company credit policies and procedures. They will analyze the character, collateral, cash flow, capital, and conditions of every credit request and make an informed and objective credit decision. Essential Job Duties and Responsibilities: Examine overall credit file documentation to ensure accuracy and completeness. Review financial statements, tax returns, personal financial statements, loan-to-value ratios, credit reports, appraisal reports, and Phase I reports. Analyze all cash flow information and collateral. Perform required underwriting stress tests on proposed commercial originations. Discuss any potential underwriting exceptions and review with the Director of Commercial Credit. Discuss new loan transactions with the sponsoring Lending Officer and Senior Management, when appropriate. Prepare written credit memos for new loans or renewals to be submitted for signature approval or to the Loan Committee for approval. Assist in ensuring the loan processing staff procure the appropriate information necessary to finalize incomplete loan packages. Stay abreast of any changes in loan underwriting policy and procedural changes. Effectively communicate with clients on underwriting issues or the need for additional data, including reaching out to customers directly when required to secure additional credit information to process the new credit transaction. Periodically perform reviews and cash flow assessments on commercial loans to ensure sufficient debt service coverage, collateral coverage and appropriate risk rating classifications. Ensure compliance with all regulations, policies, and procedures. Perform additional accountabilities, as required. Stay abreast of market conditions affecting the commercial real estate market or local market information affecting C&I customers. Perform portfolio management, including loan extensions, renewals, and modifications on existing loans. Perform annual reviews, including risk rating recommendations on existing loans. Perform other miscellaneous credit-related responsibilities as needed. Mentor Commercial Underwriters, including providing support, training, and guidance on best practices. Review the Credit Memos of Commercial Underwriters to ensure accuracy and to provide feedback. Aid in the development of underwriting processes and procedures. Education and Experience: Bachelor's degree in Business, Finance, or a related field preferred, but not required 10 or more years of experience in CRE and/or C&I underwriting Formal Credit training, or commensurate training or experience Knowledge of financial statement spreading and credit analysis Proficient in Microsoft Office Suite Knowledge of financial analysis and risk management software Skills and Abilities: Team player with the ability to adapt to changes, multitask, and work in a fast-paced, growing environment Ability to effectively train and mentor Strong verbal and written communication skills Our Benefits: Health & Wellness Benefits: Medical, Dental, and Vision insurance (with HSA, FSA, and Commuter Benefits options) Company-paid Life Insurance and Accidental Death & Dismemberment (AD&D) Company-paid Long-Term Disability Insurance Voluntary Benefits: Additional Life and AD&D Insurance for employee, spouse, and dependents Voluntary Short-Term Disability Insurance Pet Insurance Legal Services Plan Accident Insurance Hospital Indemnity Insurance Cancer Care Insurance Retirement: 401(k) Plan with Company Match Time Off & Recognition: Paid Personal Time Off (PTO) Paid Company Holidays Annual Performance Bonuses Annual Salary Increases Employee Engagement: Company-sponsored Events Employee Contests and Recognition Programs Salary: $125,000.00 - $153,000.00; placement within this range will vary based on experience and skill level. Hanover Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.
Hanover Bank is looking for a full-time Senior Commercial Underwriter to join our team. The Senior Commercial Underwriter is responsible for underwriting commercial loans, inclusive of C&I and CRE loans, while ensuring compliance with appropriate company credit policies and procedures. They will analyze the character, collateral, cash flow, capital, and conditions of every credit request and make an informed and objective credit decision. Essential Job Duties and Responsibilities: Examine overall credit file documentation to ensure accuracy and completeness. Review financial statements, tax returns, personal financial statements, loan-to-value ratios, credit reports, appraisal reports, and Phase I reports. Analyze all cash flow information and collateral. Perform required underwriting stress tests on proposed commercial originations. Discuss any potential underwriting exceptions and review with the Director of Commercial Credit. Discuss new loan transactions with the sponsoring Lending Officer and Senior Management, when appropriate. Prepare written credit memos for new loans or renewals to be submitted for signature approval or to the Loan Committee for approval. Assist in ensuring the loan processing staff procure the appropriate information necessary to finalize incomplete loan packages. Stay abreast of any changes in loan underwriting policy and procedural changes. Effectively communicate with clients on underwriting issues or the need for additional data, including reaching out to customers directly when required to secure additional credit information to process the new credit transaction. Periodically perform reviews and cash flow assessments on commercial loans to ensure sufficient debt service coverage, collateral coverage and appropriate risk rating classifications. Ensure compliance with all regulations, policies, and procedures. Perform additional accountabilities, as required. Stay abreast of market conditions affecting the commercial real estate market or local market information affecting C&I customers. Perform portfolio management, including loan extensions, renewals, and modifications on existing loans. Perform annual reviews, including risk rating recommendations on existing loans. Perform other miscellaneous credit-related responsibilities as needed. Mentor Commercial Underwriters, including providing support, training, and guidance on best practices. Review the Credit Memos of Commercial Underwriters to ensure accuracy and to provide feedback. Aid in the development of underwriting processes and procedures. Education and Experience: Bachelor's degree in Business, Finance, or a related field preferred, but not required 10 or more years of experience in CRE and/or C&I underwriting Formal Credit training, or commensurate training or experience Knowledge of financial statement spreading and credit analysis Proficient in Microsoft Office Suite Knowledge of financial analysis and risk management software Skills and Abilities: Team player with the ability to adapt to changes, multitask, and work in a fast-paced, growing environment Ability to effectively train and mentor Strong verbal and written communication skills Our Benefits: Health & Wellness Benefits: Medical, Dental, and Vision insurance (with HSA, FSA, and Commuter Benefits options) Company-paid Life Insurance and Accidental Death & Dismemberment (AD&D) Company-paid Long-Term Disability Insurance Voluntary Benefits: Additional Life and AD&D Insurance for employee, spouse, and dependents Voluntary Short-Term Disability Insurance Pet Insurance Legal Services Plan Accident Insurance Hospital Indemnity Insurance Cancer Care Insurance Retirement: 401(k) Plan with Company Match Time Off & Recognition: Paid Personal Time Off (PTO) Paid Company Holidays Annual Performance Bonuses Annual Salary Increases Employee Engagement: Company-sponsored Events Employee Contests and Recognition Programs Salary: $125,000.00 - $153,000.00; placement within this range will vary based on experience and skill level. Hanover Bank is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.