Business Underwriter Job Description
Business underwriter
provides credit management (underwriting) support for branches within assigned Districts for small business loans up to US$350 k, ensuring credit quality of the overall portfolio.
Business Underwriter Duties & Responsibilities
To write an effective business underwriter job description, begin by listing detailed duties, responsibilities and expectations. We have included business underwriter job description templates that you can modify and use.
Sample responsibilities for this position include:
Exhibits thorough knowledge of fair lending issues, rules and various regulations that directly impact the commercial lending area
Formulates and prepares credit analysis and proposal to identify, assess and mitigate all material risks associated with the new transaction or the existing transaction modification request
Visits existing and prospective financing customers to gather pertinent information for the initial underwriting, maintain a valid risk profile on existing large transaction customers
Prepare and send documentation to Underwriters and Underwriting Management to clear loan issues
Stay informed about mortgage underwriting and processing standards, compliance and regulatory requirement
Stay informed about mortgage underwriting and processing standards, compliance and regulatory requirements
Maintain acceptable credit quality, credit policy and compliance standards in the branch underwriting group
Provides support to account officers/executives, loan officers, branches and/or loan processors by answering queries and providing training on basic lending issues
Exhibits the ability to utilize objective underwriting tools, calculate basic key financial ratios and apply subjective criteria to render decisions
Work within specific authority level to quote, accept, decline and modify risks within territorial assignment in accordance with accepted underwriting guidelines
Business Underwriter Qualifications
Qualifications for a job description may include education, certification, and experience.
Education for Business Underwriter
Typically a job would require a certain level of education.
Employers hiring for the business underwriter job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Business, Finance, Accounting, Education, Economics, Military, Business/Administration, Graduate, Business Operations, Math
Skills for Business Underwriter
Desired skills for business underwriter include:
Accounting and finance principles
Administration
Credit analysis
Underwriting
Policy and procedure
Commercial
Commercial RE
Lending
Practices and procedures
Small business credit underwriting
Desired experience for business underwriter includes:
Act as contact for internal (Relationship Account Manager) and external (Broker community) commercial mortgage requests
Act as the primary contact for all third party relationships (appraisal, environmental, and engineering firms)
Provide direct support in the securitization process
At least three years of business lending experience in either a credit or sales capacity
At least 5 years of experience in credit administration
Completion of a formal credit training or proven equivalent work experience
Business Underwriter Examples
1
Business Underwriter Job Description
Job Description Example
Our company is growing rapidly and is hiring for a business underwriter. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for business underwriter
- Underwrites and then recommends approval on loan requests that are in excess of his/her commercial loan authority
- May or may not act with high levels of Underwriting Authority
- Expertly applies all applicable LOB Underwriting guidelines when making decisions
- Capable of underwriting highly complex business and will require limited support from senior underwriters and infrequent referral activity to complete quotes
- Prepares written analyses and loan summary documents to assist in the making of lending decisions on new, renewal and extension loans
- Price business according to Company underwriting and pricing guidelines
- Partner with Sales Managers to support marketing activities by developing ongoing relationships with agents to discuss market appetite, quality and profitability of submissions, service standards, and underwriting and/or product changes
- Train and educate agency staff on Company products, services, processes, and underwriting philosophy
- Verify loan input information for accuracy and completeness
- Contact members and meet with them as needed to collect documents to assist with any loan remediation
Qualifications for business underwriter
- Possess basic credit analysis skills
- Ability to effectively use personal computers and various applications including Microsoft office and Lotus Notes
- A Bachelor's degree or equivalent in Business, Finance or Accounting
- Strong self-motivation, time management and communication (written & verbal) skills
- 1-3 years of experience participating in lending or credit activities
- 2+ years or Processing and/or Underwriting experience
2
Business Underwriter Job Description
Job Description Example
Our company is searching for experienced candidates for the position of business underwriter. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for business underwriter
- Maintains a working knowledge of and complies with regulatory requirements for documentation and regulations relating to commercial lending including but not limited to Reg B, Fair Lending, Office of Foreign Asset Control (OFAC), Customer Identification Policy (CIP)/BSA/SAR and Home Mortgage Disclosure Act (HMDA), privacy-GLBA-NPPI, Community Reinvestment Act
- Administration and control of the CRM system and training to become the CRM Super-user
- May be considered a part of the Bank’s “Centralized Commercial Spreading Team” responsible for the on-going financial statement spreading across all markets
- Processes new loan request by reviewing applications, credit histories, collateral and relationship with bank (other accounts)
- Mentors and trains lower level underwriters, in addition to facilitating specialized training throughout the bank as requested by management
- Temporarily steps into supervisory roles in the absence of supervisors and managers
- Reviews and interprets personal and business tax returns
- Performs cash flow analysis using the debt service worksheet
- Evaluates data and makes required decisions based on high risk factors
- Specifies conditions for loan approval
Qualifications for business underwriter
- Experience with Jumbo and/or Non-Conforming Loans
- Bachelor's Degree in (or emphasis in) business, marketing or finance
- Demonstrates proficiency on MS Office products (Word, PowerPoint, and Excel)
- Demonstrates good interpersonal & relationship building skills
- Demonstrates strong understanding & knowledge of accounting principles, financial statements, & marketing practices
- Demonstrates ability to analyze and review loan applications to provide profitable results in the underwriting of small business loans and related credit products
3
Business Underwriter Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of business underwriter. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for business underwriter
- Coordinates, performs, and determines procedures for credit eligibility and underwriting activities including, but not limited to determining closing requirements and giving authority for closing under government programs
- Provides support to loan officers, branches, loan processors, and underwriters by answering queries and providing training on basic lending issues
- Perform Testing on loans within MSPBNA's underwriter's credit authority and in accordance with MSPBNA credit policy and credit culture
- Proactively manage assigned pipeline and the funded loans queue on a weekly basis
- Manage the ad hoc projects and reviews as assigned
- Review loans for Regulatory and other audits and reviews
- Work in unison with Agents, Regional Underwriters and AMS's and other department within the Selective community to grow a profitable book of "small business" based on agency/territory/team assignments
- Provides outstanding service to business bankers and branch managers
- May oversee Small Business Lenders I and II with feedback regarding the quality and completeness of credit approval memos, loan structure, policy knowledge, and credit scoring
- Provides – and ensures his/her assigned group of underwriters provide – outstanding service to business bankers and branch managers
Qualifications for business underwriter
- Knowledge of banking systems (Shaw, Hogan, Laser Pro, FIS, Capital Stream)
- Knowledge of Uniform Commercial Code & General credit laws-both State and Federal
- Knowledge of business loan credit structures and related products for Business Banking
- 2-5 years or processing and/or underwriting
- Current knowledge of TRID requirements
- Provides credit management and decision-making support to Branch Managers and staff to profitably serve and increase the under US$350 k small business market with minimal risk
4
Business Underwriter Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of business underwriter. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for business underwriter
- Structure and underwrite commercial SBA and conventional business lines of credit
- Build strong relationships with internal and external customers and brokers to deliver the underwriting strategy
- Leads the team in the absence of the Specialty Lines Underwriting Manager and provides support to the UK Group Personal Accident and Business Travel Manager reviewing and reporting the team performance and uses this understanding to successfully manage and develop relationships to grow the portfolio
- Responsible for implementing marketing strategy, identifying potential clients, selling additional bank products, and closing of new business
- Will include the preparation of comprehensive memos and projection models analyzing collateral, credit and industry risks and presenting these results to senior management
- Will engage in all facets of account management including loan documentation, portfolio analysis and reporting and cross sell activities
- Evaluates business banking loan requests (Real estate, small business and residential loans under $5 million) using a thorough knowledge of loan policy, guidelines and procedures
- Analyze Business Insurance manufacturing accounts to make decisions based on individual risk characteristics, exposure analysis, hazard recognition and control
- Partner with Sales Managers to identify issues or patterns and works to resolve or improve them
- Travel, with or without Sales Manager, to assigned agent locations to develop agency partnerships
Qualifications for business underwriter
- Impact on the Business Customers / Stackholders Develop and maintain relationships with accountants, attorneys, government agencies and other professional resources that service Company clients to identify opportunities for additional referrals
- Develop an understanding of trends, competition, communities and business in the markets serviced
- Work with clients to monitor, maintain and develop credit relationships as part of a cohesive team effort, including District and branch management as appropriate
- Minimum of five years proven and progressive commercial lending, credit and portfolio management experience or equivalent
- 1-3 years of experience underwriting or analyzing business or commercial clients in a banking environment
- Microsoft Office Suites (excel, pp, word)
5
Business Underwriter Job Description
Job Description Example
Our innovative and growing company is looking for a business underwriter. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for business underwriter
- Evaluate and make decisions on small business/private banking lending products within a stated limit based on credit policy
- Receives and analyzes credit requests, spreading the customer's financial information and makes decisions regarding these credit requests within establish guidelines and policies
- Coordinates renewal process to ensure that necessary information is received prior to line maturation
- Performs Credit Analyst duties in their absence
- Management report creation, reconciliation, and presentation
- Monitors budgets for departments and assists with budget preparations
- Internal communication regarding SBLD process and procedure changes and external communication directly with the government agencies related to our program
- Train SBLD systems, processes, and procedures throughout the bank
- Processes new loan request, renewals and modifications by reviewing applications, credit histories, collateral and relationship with bank (other accounts)
- Approves credit recommendations made by Underwriter I, II, or III within signing authority per Credit Policy
Qualifications for business underwriter
- Excellent analytical skills along with the ability to write in a concise, logical manner to clearly document transactions risks and mitigants
- Customer service focus and good interpersonal skills are critical to be successful in this position along with a desire to work in a fast-paced environment
- Experience working in financial sales environment preferred
- 3-5 years' experience analyzing and/or underwriting loans for business/commercial clients in Business Banking
- Minimum five (5) years’ prior experience in the financial services industry required
- Expert understanding of the business loan transaction process credit bureau reports coupled with the ability to recognize positive and negative trends in credit performance