Underwriter

Who we are: Carolina Small Business Development Fund (CSBDF) is a nonprofit and certified community development financial institution (CDFI). We are passionate and committed to providing support to small businesses across the state. Our Mission is to foster economic development in underserved communities by providing capital, business services, and policy research to support small businesses. CSBDF provides assistance to small business in four major ways: as a partner, as a trusted guide, as an advocate for small business, and as an accessible funding source. Our work supports our vision to create economic opportunity for all people.

Nature of Work: The underwriter performs loan analysis in accordance with Carolina Small Business Development Fund policies and procedures consistent with the organization’s goal of achieving and maintaining a quality credit culture. The Underwriter ensures loans are processed and underwritten in compliance with CSBDF loan policy and procedure, government guarantee programs guidelines (e.g. SBA-Small Business Administration), and various other funding partner program guidelines.

Supervision Received/Exercised: Works under the general supervision of the Director of Underwriting and has no direct supervisory responsibilities.

Essential Job Functions: The following duties ARE NOT intended to serve as a comprehensive list of all duties performed by all employees in this classification.  Shown are duties intended to provide a representative summary of the major duties and responsibilities. Incumbent(s) may not be required to perform all duties listed and may be required to perform additional, position-specific duties.

Credit Functional Area:

• Perform credit investigation and analyze pre-underwriting commercial loan package information within 24/36 hours.
• Perform initial analyses and prepare written Credit Approval Documents for submission to team lead, within five business days of the loan application requests, for approval.

• Prepare, review and analyze the creditworthiness of all commercial loan originations and renewals by spreading company and personal financial statements into CSBDF approved software.
• Manage loan application requests assigned that involve significant amounts of loan screening and analysis.
• Conduct thorough, comprehensive business and organizational analysis to form a deep, broad, accurate and up-to-date understanding of that business’s health, capacity and capability to appropriately utilize and fully repay its loan in a timely manner.
• When applicable, prepare loan recommendation packages for submission to appropriate approving channel such as Director of Underwriting, or CSBDF Credit Committee, or V.P. of Credit (any one or combination of the above). Packages may be associated with guarantee programs such as those associated with the U.S. Small Business Administration or other guarantee programs where an external review and authorization is required).

• Review third-party valuation reports, e.g., real estate appraisals, environmental assessments, business valuations, for accuracy and acceptance within 48 hours.

• Assists with loan review analysis of lending portfolio and the establishment of annual review and follow-up mechanisms to best service loan accounts.

• Tests financial covenant compliance of existing borrowing relationships and prepare Covenant Compliance Review reports with findings.
• Perform other duties as assigned by the Director of Underwriting.

Business Solution Officer Functional Area:

• Underwriter will work with BSO team to prepare loan packages and coordinate support for client if needed.
• Analyze and adjudicate loan applications to assist Business Solutions team with negotiating loan terms, balancing the customers’ needs with CSBDF’s risk profile, growth and earnings goals.
• Assist in protecting CSBDF’s assets by providing the necessary analysis and recommendation that leads to sound credit decisions

Qualifications:

Experience:

• Bachelor’s degree in Business Administration, Finance, Economics or a related field preferred.
• At least three (3) years of small business lending experience that includes credit analysis and underwriting, loan origination.
• Any combination of experience and training that can be considered equivalent to the education preference.
• Completion of consumer and commercial credit courses and/or banking experience is preferred.
• Willingness and ability to travel within service area to visit applicants, referral partners, and borrowers.

Knowledge:

• Financial and spread analysis, credit and lending, and experience working with various types of commercial loans, including SBA and other government guaranteed loan programs.
• Basic accounting theories, credit principles, lending functions, loan research, cash flow analysis and general credit policies.
• Knowledge of the 5c’s of credit and application to credit evaluation.
• Experience using both EBIDTA and UCA Methods of cash flow.
• Knowledge and understanding of rules and regulations governing lending activities for SBA.
• Familiarity with Salesforce and Tea software applications preferred.

Skills/Abilities:

• Understands trends and changes between financial reporting periods.
• Supports a quality credit culture and operate on a team-based lateral organization structure.
• Maintains and supports a shared collaborative team culture in person and virtually.
• Good analytical ability and attention to detail.
• Effective written and verbal communication skills.
• Ability to meet reasonable deadlines and prioritization of workflow within a changing fast paced work environment.

Living our Values:

• Economic Justice: Demonstrate commitment of economic justice through credit analysis for clients.
• Opportunity: Demonstrate commitment of opportunity when underwriting in support of our vision for economic opportunity for all.
• Customer Service: Underwriter will provide strong, efficient, and effective customer service to all stakeholders including co-workers, clients, board members, partner agencies, and institutions.
• Excellence: Underwriters maintain an environment of excellence through a quality service attitude that drives performance results.
• Integrity: Underwriters maintain an environment of integrity through application of sound moral and ethical principles, especially when evaluating a client’s financial credit.
• Innovation: Underwriters promote innovation in their credit analysis and underwriting scope to improve economic access for all.
• Teamwork: Underwriters seek and encourage teamwork because their initial analysis is the foundation for a long term client relationship with our organization as the client’s preferred lender.
• Passion: Underwriters embody and encourage passion for the mission to support small businesses and exemplify that passion through their credit analysis.

Physical Demands:

Work is principally sedentary, but may involve some physical exertion during visits with the course of normal work activities, and travel to meetings, conferences or workshops in other cities. As an exempt employee, extended hours may be required on a frequent basis.

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Work Environment:

Work involves the normal risks or discomfort associated with a standard office environment and is usually in an area that is adequately heated, lighted and ventilated.

Compensation:

We offer a competitive salary that depends on prior experience. Our benefits package includes Medical, Dental, Vision, Short Term Disability, Long Term Disability, 401k Account with employer match, plus generous vacation and sick time.

The job description does not constitute an employment agreement between the employer and employee and is subject to change by the employer as the needs of the employer and requirements of the job change.

You can send a resume and cover letter to hr@carolinasmallbusiness.org for consideration.