What are the responsibilities and job description for the Senior Portfolio Consumer Underwriter position at CIBC US?
We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.
At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.
To learn more about CIBC, please visit CIBC.com
What You’ll Be Doing
As a Senior Portfolio Consumer Underwriter, you will play a key role in reviewing and approving residential mortgage real estate applications with a focus on high-net-worth self-employed commercial and private wealth clients. You will apply independent judgment within established guidelines to assess credit, financials, cash flow, and property information, ensuring sound underwriting decisions that align with the bank’s risk appetite, policies, and business practices.
How You’ll Succeed
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $85,000 - 110,000 for the Chicago, IL market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component.
CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave, and Vacation), Holidays, and 401(k), in addition to other special perks reserved for our team members.
Candidates hired to work in other locations will be subject to the pay range associated with that location. Additional total compensation and benefits details will be provided during the hiring process.
This position does not offer visa sponsorship.
What CIBC Offers
At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.
IL-1110 Jorie Blvd
Employment Type
Regular
Weekly Hours
40
Skills
Analytical Thinking, Cash Flow Analysis, Cash Flow Modelling, Communication, Consumer Loans, Credit, Credit Analysis, Financial Documents, Lending, Lending Products, Loan Structuring, Mortgages, Negotiation, People Management, Prioritization, Residential Mortgages, Risk Ratings, Underwriting, Underwriting Guidelines
At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.
To learn more about CIBC, please visit CIBC.com
What You’ll Be Doing
As a Senior Portfolio Consumer Underwriter, you will play a key role in reviewing and approving residential mortgage real estate applications with a focus on high-net-worth self-employed commercial and private wealth clients. You will apply independent judgment within established guidelines to assess credit, financials, cash flow, and property information, ensuring sound underwriting decisions that align with the bank’s risk appetite, policies, and business practices.
How You’ll Succeed
- Comprehensive Credit Analysis: Evaluate portfolio real estate and non-real estate transactions, assessing financial documentation, cash flow modeling, asset and liquidity strength, and potential risks.
- High-Quality Decision-Making: Produce Portfolio Credit Summary Packages, Material Amendments, and other credit requests in a timely and accurate manner.
- Specialized Underwriting Expertise: Analyze complex financials for self-employed and private wealth clients, including commercial business tax returns, capital gains/losses, and alternative lending structures.
- Effective Risk Assessment: Ensure underwriting decisions align with the bank’s guidelines, risk appetite, and regulatory requirements while providing sound judgment on credit approvals.
- Strong Written Communication: Craft detailed underwriting narratives that clearly present credit rationale, risk assessment, and recommendations.
- Collaboration & Stakeholder Engagement: Work closely with Mortgage Bankers, Private Bankers, Loan Processors & Closers, Group Portfolio Managers, and Senior Management to ensure seamless transactions.
- Market Awareness & Compliance: Stay updated on market conditions, industry regulations, and consumer lending laws to maintain compliance and adapt to evolving guidelines.
- Community Involvement: Complete at least five CRA volunteer hours annually, contributing to the bank’s commitment to community engagement.
- Experienced in Underwriting: You have 5-7 years of manual underwriting adjudication experience with portfolio lending products and a strong grasp of risk assessment for high-net-worth clients.
- Skilled in Financial Analysis: You can analyze financial statements, credit reports, assets, and liabilities with expertise in cash flow modeling and self-employed borrower assessments.
- Detail-Oriented & Organized: You thrive in fast-paced, deadline-driven environments, effectively managing multiple tasks while maintaining accuracy.
- Effective Communicator: You excel at verbal and written communication, clearly presenting complex financial and credit information to stakeholders.
- Technology-Proficient: You have working knowledge of industry tools and systems like Encompass and MeridianLink.
- Regulatory Knowledge: You have a strong understanding of federal and state lending regulations, ensuring compliance with consumer protection laws.
- Customer-Focused & Collaborative: You build strong relationships with internal partners, providing exceptional service while ensuring sound underwriting decisions.
- Timely and accurate underwriting decisions that support business growth while maintaining compliance and risk standards.
- Clear and well-documented credit narratives that provide sound reasoning for approvals and risk assessments.
- Strong partnerships with Relationship Bankers, Mortgage Bankers, and Senior Management, ensuring smooth lending processes.
- Proactive risk management, staying ahead of market changes and regulatory shifts.
- Active participation in community involvement initiatives, supporting the bank’s CRA efforts.
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $85,000 - 110,000 for the Chicago, IL market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component.
CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave, and Vacation), Holidays, and 401(k), in addition to other special perks reserved for our team members.
Candidates hired to work in other locations will be subject to the pay range associated with that location. Additional total compensation and benefits details will be provided during the hiring process.
This position does not offer visa sponsorship.
What CIBC Offers
At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.
- We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program*, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.
- Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.
- We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.
- Subject to plan and program terms and conditions
- CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
- You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.
- We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.
IL-1110 Jorie Blvd
Employment Type
Regular
Weekly Hours
40
Skills
Analytical Thinking, Cash Flow Analysis, Cash Flow Modelling, Communication, Consumer Loans, Credit, Credit Analysis, Financial Documents, Lending, Lending Products, Loan Structuring, Mortgages, Negotiation, People Management, Prioritization, Residential Mortgages, Risk Ratings, Underwriting, Underwriting Guidelines
Salary : $85,000 - $110,000
