Overview
To evaluate and underwrite business loan applications. To oversee and collect pertinent supporting underwriting information to ensure the completion of all necessary financial analysis. To present loan packages beyond approval authority to senior management, as well as assisting with the closing of business loans and monitoring subsequent financial information of Navy Federal business loan borrowers according to specific state and federal requirements to limit risk exposure to Navy Federal's business portfolio.
Responsibilities
Analyzes business loan applicants' financial status, credit, and business to determine feasibility of granting credit including loan approval
Works closely with development team/business member to ensure all appropriate data is obtained reviews and analyzes loan applications to ensure that necessary documents have been received and validates the integrity of the data
Determines credit-worthiness of the borrower by performing qualitative/quantitative analysis such as review of financial statements, credit reports, and applicable ratios (e.g., Debt to Income (DTI), Loan to Value (LTV), etc.) using established guidelines of NFCU, industry best practices and applicable state and governmental regulations
Proposes/determines the appropriate deal structure commensurate with the associated risk level on approved business credit deals, including appropriate financial, operational or capital/cash covenants
Analyzes counter offers, exceptions and rejections and recommends alternative business products better suited to the business loan applicant
Presents business loan package and loan recommendation, in a consultative process, to senior business lending management for loans above approval authority
Reviews and evaluates business annual financial statements/tax returns to ensure adherence to NFCU, BA and relevant industry practices/requirements
Analyzes tax statements independent of business scoring systems to confirm business viability
Assesses risk of credit deals and business failing by assigning a rating and recommending any necessary action to mitigate credit union risk
Approves or declines business loan submissions within assigned authority
Approves business loans and authorizes loan disbursements based on a complete analysis of submitted documentation and applicable rules and regulations, in accordance with NFCU Business Lending policies and procedures
Prepares adverse action (loan disapproval) notifications on behalf of the Business Lending Committee in recognition of the compliance provisions of the Equal Credit Opportunity Act (Reg B)
Supports Business Loan Underwriting functions
Monitors Business Underwriting activities and respond to questions submitted via telephone, instant messages or through the mail
Assists with the ongoing maintenance of the area's underwriting manual
Collaborates with managers and participates in mentoring sessions for other Business units
Provides daily input to management reports
Assists with or completes the required monthly Colson report for NFCU's SBA program
Evaluates spreads completed by Level I Underwriter(s) and incorporates that work into own analyses/credit decision
Uses and has proficient knowledge of automated scoring systems (Statement Analyzer or CASH) or traditional underwriting methods (spreadsheets)
Determines credit worthiness of business borrowers according to established guidelines
Recommends disapproval with concurrence of Level III Underwriter and/or management
Responds to basic and moderate difficult internal and external customer inquiries as necessary
Underwrites credit cards and small/simple business loans up to $50,000
Underwrites medium sized loans of $50,000 to $250,000 including smaller SBA type deals
Works on less complex and smaller commercial real estate deals
Works within defined procedures to evaluate standard loan applications
Engages with members on a moderate variety of subjects
Moderate degree of supervision, coaching and mentoring from Supervisor and Business Underwriter III
Performs other related duties, as assigned or appropriate
Qualifications
Previous underwriting experience and solid knowledge of underwriting criteria utilized, per conventional business loan financing guidelines
Good understanding of, and/or previous experience in, the granting of business credit
Familiarity with financial ratios and concepts, such as database, word processing and business lending system software
Ability to exercise good judgment and initiative
Thorough knowledge of and extensive experience in credit union or retail banking operations
Familiarity with Navy Federal Credit Union policies and procedures
Good analytical, organizational, and mathematical skills
Effective interpersonal, verbal and written communication skills
Experience underwriting commercial and commercial real estate loans over $500,000
Hours: Monday - Friday, 8:00AM - 4:30PM
Location: 5510 Heritage Oaks Drive, Pensacola, FL 32526
About Us
Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.
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- Yello and WayUp Top 100 Internship Programs
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Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. Navy Federal takes affirmative action to employ and advance in employment qualified individuals with disabilities, disabled veterans, Armed Forces service medal veterans, recently separated veterans, and other protected veterans. EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability
Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.
Disclaimers: Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need. An assessment may be required to compete for this position. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team's discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
REQNUMBER: 19374
