Job Description:Job Description:The Specialty Channel Underwriter role is responsible for Business Banking underwriting, structuring and approving credit actions for new and existing Small Business Administration (SBA) credit requests. Exercises single signature approval authority for credit exposure per applicable approval grids. Credit decisions must meet underwriting quality and risk management standards and comply with bank and SBA policies and procedures. Strong credit skills with ability to work independently and reach credit decisions timely and efficiently. May participate in projects and initiatives to achieve strategic objectives of the organization. This role reports to the Specialty Credit Manager that support Small Business Administration.
Responsibilities:- Analyze, underwrite, and approve credit solutions for existing and new clients; approve SBA requests in accordance with applicable credit approval grid
- Conduct credit analysis including financial spreads, risk rating scorecards, industry assessment, business and personal cash flow; complete Credit Approval documentation
- Evaluate credit worthiness and provide analysis and decisioning on whether a client should be approved for an SBA credit facility
- Ensure underwriting complies with Bank credit policy and procedures and Small Business Administration SOP
- Partner with Relationship Managers, Solution Advisors, Commercial Business Development Officers and Risk teammates to assess and deliver SBA credit solutions
- Ensure data quality of credit related client and deal information
- Mentor and assist junior team members as applicable
Skills:- Attention to Detail
- Credit and Risk Assessment
- Financial Analysis
- Underwriting
- Written Communications
- Analytical Thinking
- Credit Documentation Requirements
- Financial Forecasting and Modeling
- Recording/Organizing Information
- Business Acumen
- Collaboration
- Collateral Management
- Loan Structuring
- Prioritization
Required Qualifications:- Minimum of 5 years of commercial underwriting and credit analysis (Business Banking, Middle Market, Leveraged Finance, etc.)
- Minimum of 2 years of SBA lending experience preferred
- Formal commercial credit training or equivalent work experience
- Industry knowledge across multiple sectors
- Prior experience in a high volume production environment
- Superior teamwork skills in the commercial market space
- Strong communication skills; ability to communicate vertically, horizontally, and externally
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent. Bachelor's degree or equivalent work experience, preferably in business administration, finance, accounting or economics preferred
Shift:1st shift (United States of America)
Hours Per Week: 40
Pay Transparency detailsUS - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110)
Pay and benefits information
Pay range
$91,500.00 - $150,000.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
Benefits
This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
