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Senior Commercial Underwriter
Comerica
Costa Mesa, CA, United States
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Job Description
The Commercial Underwriter is responsible for underwriting and documentation of moderately complex loan requests for assigned Lines of Business (LOBs) as well as deal analyses and executions of workflows according to established Service Level Agreements (SLAs), also responsible for assisting in the on-going monitoring of the credit exposure for assigned relationships, including renewals, reaffirmations and annual risk ratings.
Reporting Information:
The Commercial Underwriter reports to the Manager Commercial Underwriting (MCU).
Position Competencies:
Successful incumbents possess strong analytical, time management, verbal and written communication skills and are accountable.
Position Responsibilities:
1. Provide complete analysis of loan package for new deals, reviews and renewals
• Prepares and/or updates appropriate RECAP documentation with little to no guidance from MCU (Manager Credit Underwriting) for basic requests. May work on more complex relationships with guidance from MCU or in support of a senior underwriter.
• Prepares collateral charts, cash flows, risk ratings and other attachments with minimal assistance.
• Provides industry analysis and apply risks & opportunities to specific client/request.
• Identifies policy exceptions and works with MCU/RM (Relationship Manager) to mitigate them.
• Identifies and analyzes inconsistencies and inaccuracies in customer data, including spreads, aging's, projections and other financial documents.
• Develops analytical narrative and commentary on the request.
• Evaluates strengths and weaknesses of the credit and escalates risks and other issues to MCU and/or RM or PM (Portfolio Manager).
• Assists RM/PM with contacting customers to obtain answers for loan analyses and recommend loan structures and covenants.
• Independently prepares risk rating.
2. Administration
• Calculates loan covenants and assist with tracking on simple transactions in conjunction with CSC (Credit Support Center) team for assigned relationships. Follows up with PM/RM on violations.
• Shares responsibility with Credit Specialists for performing OFAC checks and identifying issues.
• Investigates title searches, surveys and UCC (Uniform Commercial Code) searches as requested by MCU or RM/PM.
3. Process Sustainability
• Adheres to department procedures for workload management.
• Strives to meet or exceed SLA, or when not possible, communicate to MCU and RM/PM.
• Ensures appropriate RECAP formats/attachments are used in accordance with approved process & procedures.
• Other duties as assigned.
Travel
Travel is not required of this position.
Relocation
Relocation is not available for this position.
Work Schedule
This positions work schedule may require overtime.
Qualifications
• Bachelor's Degree
• 2 years of commercial underwriting, credit and/or lending experience
• Completion of Credit College or other formal credit training
• 3 years' experience with Microsoft Office applications (Word, Excel, PowerPoint, Outlook)
About Comerica
We know that our employees are critical to our overall success. We are dedicated to investing in their future to maintain long-term relationships for lasting commitments. One of the ways we do this is to offer a comprehensive package of compensation and benefits programs which are regularly reviewed to maintain them at competitive levels. Your salary will be commensurate with your work experience.
Upon offer, Comerica conducts a comprehensive background check, fingerprint check and a drug test.
NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by the Business Bank, the Retail Bank, and Wealth Management. Comerica's more than 9,000 colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.