Position SummaryThe Commercial Underwriter provides accurate, timely, and succinct credit underwriting to support the company's portfolio management and new business development efforts for the Relationship Managers they are assigned to support.
Duties & Responsibilities- Commercial Underwriter Duties:
- Assist Commercial Relationship Managers with the preparation of opportunity memos for new and existing relationships.
- Work with Commercial Relationship Managers or other Lending staff to prepare clear and concise Commercial Credit Approval Request (CCAR) memos including pertinent information associated with the overall risk of the loan, identifying the strengths and weaknesses of the Borrower.
- Financial statement spreading and analysis, including calculation of Debt Service Coverage Ratios per Busey guidelines.
- Use financial data such as cash flow, liquidity, profitability, and leverage to determine and minimize the overall risk of extending credit to Borrowers or Sponsors.
- Evaluate repayment sources, considering factors such as market conditions, tenant creditworthiness, and cash flow projections.
- Analyze cash flow and repayment capacity to assess credit risk and support sound lending decisions.
- Examine loan application requests for commercial properties, including reviewing financial statements and projections, assessing the borrower's financial strength, evaluating property characteristics, and reviewing third party reports (Appraisals, Property Condition Assessments, and Phase I Environmental Site Assessments).
- Assist with Portfolio Management duties to include testing financial covenants, preparing portfolio reviews and sensitive asset reports, as assigned.
- Maintain a working knowledge of the Commercial Banking Loan Policy and systems, including nCino.
- Assist in the sales process, including accompanying Relationship Managers on customer and prospect calls.
- Approve loans that are within defined authority levels; recommend loan approval outside of defined authority levels.
- Participate in pipeline meetings to develop knowledge of prospective opportunities as well as upcoming renewals.
- Assist with other duties or special projects as assigned.
- Commercial Underwriter II:
- Performs all outlined duties under minimal supervision
- Demonstrates independent thinking and handles complex issues
Education & ExperienceKnowledge of:
- Strong oral and written communication skills
- Proficiency in Microsoft Office
- Knowledge of financial accounting
Ability to:
- Multi-task and work independently
- Analyze and solve problems
- Take independent action within established guidelines and develop new procedures and approaches when needed
- Perform duties under frequent time pressures
Education and Training:
- Requires Bachelor's degree with a concentration in Business or Finance.
- Requires 5 or more years of Commercial Credit experience.
- Requires 2 or more years of experience in the Commercial Underwriter role.
Compensation and Benefits Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.
(Base Pay Range: $90,000 - 128,000/year)
Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being-now and in the years to come-are important to us. Busey's Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit Busey Total Rewards for more information.
