The Senior Commercial Underwriter is responsible for providing an independent comprehensive written evaluation of complex commercial loans and relationships. Works closely with Commercial Relationship Managers and other employees to identify and manage risk on commercial loans up to Union’s legal lending limit. The analyses culminate in a conclusion supporting the approval or denial of a loan request and recommendations on structure and risk rating. The Senior Underwriter ensures that loans are underwritten to comply with policy and/or are appropriately mitigated. Work is varied in nature with changing priorities. Incumbent applies knowledge of commercial lending principles and technologies to work performed. Works under limited supervision and in compliance with established policies, procedures and regulations. The Senior Underwriter supports loan and revenue growth through identification and management of risk, and identification of alternative lending structures or terms. The senior position may be asked to mentor less experienced Commercial Underwriters and Commercial Analysts.
Evaluates financial statements and prepares independent written credit evaluations. Reports will include a comprehensive evaluation of the business and will be used by management in approving credit requests. Reports should adequately summarize the important aspects of the business including a detailed financial analysis, management competencies, collateral evaluation, and guarantor support. Analyses will identify the key strengths and weaknesses of that particular borrower. Analyses may also include an evaluation of the borrower’s industry and the borrower’s position within the industry.
Makes recommendations to Commercial Relationship Managers and Credit Approvers regarding credit structure and policy compliance.
Makes recommendations regarding credit risk rating of commercial accounts and assesses collateral quality and values.
Works closely with Commercial Banking Officers and occasionally accompanies them on customer calls.
Completes corporate and personal financial statement spreading within a vendor provided solution such as Moody’s Risk Analyst or within Union designed templates in Excel. Completes global cash flows when appropriate.
Prepares detailed short or long-term financial projections on commercial customers within a vendor provided solution such as Moody’s Risk Analyst or within an Excel spreadsheet.
Testing and review of covenant compliance as defined within loan documents. Makes recommendations for monitoring relative to risk and policy, including revision to existing covenants Underwriting of Monitored Lines of Credit, and periodic monitoring via Borrowing Base Calculations throughout the life of the loan. Sr. Underwriter is responsible for the review and accuracy of loan documents on Monitored Lines as defined by policy.
Responds to requests for credit work within 24 hours. Discusses completion dates with sales and credit partners, and works to meet agreed upon deadlines. Discusses delays with partners prior to missed deadline.
Effectively partners with Credit Team to improve efficiencies of operation, minimize risk, and expand sales opportunities.
Completes quarterly residential and commercial real estate industry reports for distribution to Senior Management and other designated Union teammates.
May perform other related duties as assigned.
Education & Experience
Bachelor’s degree in Accounting, Business or Finance and/or equivalent experience and seven or more years banking or finance experience with emphasis on accounting, financial analysis or commercial lending desired.
Knowledge & Skills
Advanced written and analytical skills to encompass an ability to analyze balance sheet structure, and income and cash flow trends on credits up to the legal lending limit of Union.
Experience across multiple lines of business, including but not limited to, industrial, service, retail, healthcare, hospitality, automobile, commercial real estate, and government.
Knowledge of or experience in national syndications and buying and selling of loan participations.
Extensive knowledge of commercial credit and lending concepts, practices and regulations.
PC proficiency with Word and Excel, including the use of system and user generated formulas, macros, charts, and tables.
Knowledge of financial statement spreading, including proficiency in preparing pro-forma statements within Moody’s or other software package.
Demonstrated ability to make complex decisions regarding business and lending activities.
Ability to listen and respect the opinion of others.
Ability to research industry sources needed for credit evaluations.
Strong organization skills with the ability to self-manage time and work flow to meet deadlines.