Commercial Loan Underwriter
Chartway Federal Credit Union, Virginia Beach, VA, United States
Job Title:
Commercial Loan Underwriter Job Type:
Full-time Location:
Virginia Beach, Virginia or Salt Lake City, Utah
The Commercial Loan Underwriter reports to the Vice President of Commercial Lending and is responsible for underwriting new commercial loan requests, modifications of existing loans, and the annual review of loans in the portfolio while ensuring compliance with all federal regulations and laws.
Responsibilities & Accountabilities
Work closely with commercial loan officers, borrowers, and guarantors to obtain relevant documentation for effective review of commercial loan requests.
Conduct in-depth review of loan application documents including rent rolls, leases, balance sheets, income statements, and tax returns to assess ability to generate income sufficient to repay debt.
Prepare written proposals summarizing the borrowing request, financial condition of the borrower, adequacy of collateral, sources of repayment, stress testing, industry comparisons, management experience, and provide recommendations.
Analyze personal and business financial statements.
Complete quality assurance reviews.
Make risk rating and structuring recommendations.
Actively participate with lending officers in preparation of commercial loan proposals for committee presentation.
Perform annual reviews or financial analysis reviews as needed on existing commercial loans.
Review appraisals, inspections, environmental or other reports and advise of notable call outs.
Assist management in the review and approval of small business loans as prepared by loan processors within level of authority.
Assume additional responsibilities as requested.
Knowledge, Skills & Abilities
Ability to separate and understand various elements of financial statements and tax returns and determine the probability that loan conditions will be met, including construction cost breakdowns.
Strong analytical, critical thinking, and decision-making skills.
Knowledge of commercial products, market trends, commercial loan procedures, and related federal regulations.
Prior extensive experience in underwriting Commercial Real Estate (O.O. and Non-O.O.), asset‑based lines of credit, development loans, land acquisition loans, vertical construction loans (builder single family, multi‑family projects), and various commercial asset classes.
Advanced skills with Microsoft Office Suite including Outlook, Word, and Excel.
Excellent written and verbal communication skills.
Ability to perform credit analysis with and without a commercial loan origination system.
Ability to multitask, prioritize, and work independently.
Ability to meet strict deadlines.
Education & Experience
Bachelor’s degree with emphasis on accounting, finance, economics, or business or equivalent experience.
5+ years of commercial credit analysis and underwriting experience in a banking or credit union environment.
Chartway offers a competitive salary and a comprehensive benefits package. Candidates must have a good credit history for consideration. Salary requirements must be included and resumes must be accompanied by a Chartway Employment Application for consideration.
Chartway Federal Credit Union is an EEO/M/F/Disability/Vet Employer.
If a reasonable accommodation is needed for the job interview process, please contact our Talent Acquisition Team at 1-877-319-4818 extension 74862 or email us at recruiter@chartway.com.
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Commercial Loan Underwriter Job Type:
Full-time Location:
Virginia Beach, Virginia or Salt Lake City, Utah
The Commercial Loan Underwriter reports to the Vice President of Commercial Lending and is responsible for underwriting new commercial loan requests, modifications of existing loans, and the annual review of loans in the portfolio while ensuring compliance with all federal regulations and laws.
Responsibilities & Accountabilities
Work closely with commercial loan officers, borrowers, and guarantors to obtain relevant documentation for effective review of commercial loan requests.
Conduct in-depth review of loan application documents including rent rolls, leases, balance sheets, income statements, and tax returns to assess ability to generate income sufficient to repay debt.
Prepare written proposals summarizing the borrowing request, financial condition of the borrower, adequacy of collateral, sources of repayment, stress testing, industry comparisons, management experience, and provide recommendations.
Analyze personal and business financial statements.
Complete quality assurance reviews.
Make risk rating and structuring recommendations.
Actively participate with lending officers in preparation of commercial loan proposals for committee presentation.
Perform annual reviews or financial analysis reviews as needed on existing commercial loans.
Review appraisals, inspections, environmental or other reports and advise of notable call outs.
Assist management in the review and approval of small business loans as prepared by loan processors within level of authority.
Assume additional responsibilities as requested.
Knowledge, Skills & Abilities
Ability to separate and understand various elements of financial statements and tax returns and determine the probability that loan conditions will be met, including construction cost breakdowns.
Strong analytical, critical thinking, and decision-making skills.
Knowledge of commercial products, market trends, commercial loan procedures, and related federal regulations.
Prior extensive experience in underwriting Commercial Real Estate (O.O. and Non-O.O.), asset‑based lines of credit, development loans, land acquisition loans, vertical construction loans (builder single family, multi‑family projects), and various commercial asset classes.
Advanced skills with Microsoft Office Suite including Outlook, Word, and Excel.
Excellent written and verbal communication skills.
Ability to perform credit analysis with and without a commercial loan origination system.
Ability to multitask, prioritize, and work independently.
Ability to meet strict deadlines.
Education & Experience
Bachelor’s degree with emphasis on accounting, finance, economics, or business or equivalent experience.
5+ years of commercial credit analysis and underwriting experience in a banking or credit union environment.
Chartway offers a competitive salary and a comprehensive benefits package. Candidates must have a good credit history for consideration. Salary requirements must be included and resumes must be accompanied by a Chartway Employment Application for consideration.
Chartway Federal Credit Union is an EEO/M/F/Disability/Vet Employer.
If a reasonable accommodation is needed for the job interview process, please contact our Talent Acquisition Team at 1-877-319-4818 extension 74862 or email us at recruiter@chartway.com.
#J-18808-Ljbffr