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, SBA 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
Underwrites all levels of credit complexity, inclusive of SBA and participation loans
Uses advanced knowledge of industry specific metrics/standards/best practices and regulations to provide expert opinion on complex / sophisticated business deals
Expected to formulate acceptable alternative deal structure(s)
Extremely proficient using automated scoring systems (Statement Analyzer or CASH) and traditional underwriting methods
Determines credit worthiness of business borrowers according to established guidelines
Responds to the most complex internal and external customer inquiries
Works independently on the most complex and largest of the business loan applications including multi-million dollar commercial real estate and participation deals
Provides decisions on complicated exceptions submitted by difficult multi-varied business scenarios
Collaborates with Compliance Management on unique business loans including regulatory waiver requests
Maintains current knowledge of industry regulations and best practices
Communicates extensively with members and others on the most complex and delicate matters
May be required to travel and train others nationwide
May provide division leadership in the absence of the Supervisor
Performs other related duties, as assigned or appropriate
Qualifications
Excellent understanding of business underwriting principles and concepts
Familiarity with the various concepts used to derive a cash market value for any business and of the difference between cash flow from operations, cash flows from investing and cash flows from financing activities
Good working knowledge of the means of collecting supporting information for the underwriting of business loans and the factors/metrics that go into properly evaluating the risks associated with different types of businesses
Excellent understanding of financial ratios and concepts - such as liquidity, leverage, coverage, and operating ratios - and the concept of trend analysis and cash flow analysis
Advanced knowledge of database, word processing and SBA industry systems
Proficiency in using Microsoft Word and Excel or related software applications
Thorough knowledge of and extensive experience in credit union or retail banking operations
Familiarity with Navy Federal Credit Union policies and procedures
Exceptional interpersonal, verbal and written communication skills
Excellent analytical and organizational skills
Hours: Monday - Friday, 8:30AM - 5:00PM
Locations: 5510 Heritage Oaks Drive, Pensacola, FL 32526
About Us
You have goals, dreams, hobbies, and things you're passionate about-what's important to you is important to us. We're looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them-friends, family, and passions. And we're looking for team members who are passionate about our mission-making a difference in military members' and their families' lives. Together, we can make it happen. Don't take our word for it:
- Military Times 2022 Best for Vets Employers
- WayUp Top 100 Internship Programs
- ForbesR 2022 The Best Employers for New Grads
- Fortune Best Workplaces for Women
- Fortune 100 Best Companies to Work ForR
- ComputerworldR Best Places to Work in IT
- Ripplematch Campus Forward Award - Excellence in Early Career Hiring
- Fortune Best Place to Work for Financial and Insurance Services
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
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: 19175
