Bachelor's degree in Business, Finance, or related field required.
6-10 years of experience in Commercial Real Estate (CRE) and/or Commercial & Industrial (C&I) underwriting.
Formal credit training or equivalent experience is essential.
Strong verbal and written communication skills are necessary.
Ability to interact professionally with diverse groups.
Responsibilities
Examine credit file documentation for accuracy and completeness.
Review financial statements, tax returns, and credit reports.
Analyze cash flow and collateral, performing underwriting stress tests.
Discuss underwriting exceptions with the Director of Commercial Credit.
Prepare written credit memos for loan approvals.
Benefits
Medical, Dental, and Vision insurance with HSA, FSA, and Commuter Benefits options.
Company-paid Life Insurance and Long-Term Disability Insurance.
401(k) Plan with Company Match.
Paid Personal Time Off (PTO) and Company Holidays.
Company-sponsored events and employee recognition programs.
Full Job Description
Job Type
Full-time
Description
Location: Hauppauge, NY
Job Summary:
Hanover Bank is looking for a full-time Commercial Underwriter to join our team. The 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. This person will analyze the character, collateral, cash flow, capital and conditions of every credit request and make an informed and objective credit decision.
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 and 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.
Prepares written credit memo for new loans or renewals to be submitted for signature approval or to the Loan Committee for approval.
Assist in ensuring loan processing staff procure 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 commercial real estate market or local market information affecting C&I customers.
Perform portfolio management including loan extensions and modifications on existing loans.
Perform annual reviews including risk rating recommendations on existing loans.
Perform other miscellaneous credit-related responsibilities as needed. •
Aid in the development of underwriting processes and procedures.
Education and Experience:
College degree required in Business, Finance, or a related field.
6-10 years of experience in CRE and/or C&I underwriting
Formal Credit training or commensurate training or experience
Skills and Abilities:
Excellent verbal and written communication skills.
Ability to interact with a diverse group of people with professionalism.
Excellent Organizational skills.
Highly motivated and flexible.
Committed to learning new skills.
Basic PC, Network, E-mail, Director, Internet, Word Processing
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: $109,000-$133,000; placement within this range will vary based on experience and skill level.
