What are the responsibilities and job description for the Small Business Underwriter position at Credit Union West?
Credit Union West has been named a ‘Top Company to Work for in Arizona’ for the 12th year in a row (2013-2024)! This prestigious award announced by BestCompaniesAZ is earned by achieving stellar marks in a comprehensive workplace survey, where employees are asked to rate and share feedback including culture, leadership and overall satisfaction.
Credit Union West continuously looks for ways to improve employee satisfaction and experience. In addition to high paying wages, Credit Union West also offers the following:
- Full-time employees receive 100% paid health, dental & vision insurance
- Earn incentives up to 15%, depending on position
- 401K plan with employer matching funds up to 5%
- Profit Sharing
- Tuition reimbursement
- Gym membership reimbursement
- Paid time off for holidays, vacation, and sick days
- Diverse and inclusive workplace
- Credit Union West membership and discounts
Be part of our award-winning team!
POSITION SUMMARY
Enhances the quality of life for our business members by meeting or exceeding their service expectations, by providing high quality service, defined as ensuring prompt and accurate transactions, while building member trust and loyalty, delivered in a professional member friendly environment. Responsible for adhering to small business underwriting guidelines with regards to small business secured and unsecured loans & lines, equipment financing, business credit cards along with validating loan documentation, closing and funding practices. Responsible for maintaining sound small business lending practices by actively engaging and participating in continuous education and discussions among peers and colleagues, tracking small business loan production and trends, and meeting the small business lending objectives of the credit union. Monitors advancements in lending processes, suggests methods for streamlining business lending practices.
Essential Functions & Additional Responsibilities
75% Underwriting – Maintains and utilizes knowledge of the small business lending process: underwriting, credit analysis, and accounting entries. Understands and can effectively apply small business lending policies to all small business lending situations. Actively promotes a Risk Based Lending environment by demonstrating application development and solid underwriting knowledge. Makes appropriate risk-based credit underwriting decisions. Review and analyze income from both personal and business tax returns. Communicate decisions on loans to appropriate parties both verbally and in writing. Verifies and analyzes applicant financial status, and credit worthiness to determine feasibility of granting modification. Preparation of credit information necessary to for a decision, including such factors as applicant’s assets, credit experience, and explanations.
10% Communication – Consult necessary departments or third-party vendors to ensure that all underwriting conditions are met prior to closing the loan. Work with Loan Originators to review and verify all application information is correct.
10% Quality Control - Maintains awareness of changes in the credit granting field, including government regulations, technological advancements in computerized credit granting and processing, business needs and preferences, and related. Assures that all loan requests are properly priced and structured. Makes recommendations to Loan Originators and VP of Business Services if adjustments are required. Maintains loan documents in compliance with policy and state and federal regulations. Corresponds with or interviews applicant or creditors to resolve questions regarding modification information. Notifies member if loan is delayed because of underwriting ratios or credit ratings.
5% Performs other duties as assigned.
EDUCATION:
Equivalent to a two-year college degree or completion of a specialized course of study at an accredited educational facility preferred.
EXPERIENCE: 4-8 years of experience in small business loan processing requirements, procedures, and small business underwriting criteria, preferably in a Credit Union or financial institution.
Skills & Competencies • Live the mission, vision, and core values of the credit union. • Ability to work independently and as part of a team. • Strong analytical and financial analysis skills. • Knowledge of underwriting principles, risk assessment, and regulatory requirements • Excellent communication skills • Proficiency in underwriting software and tools, as well as Microsoft Office Suite (Word, Excel, PowerPoint, Teams). • Attention to detail. • Critical thinking and problem-solving • Thorough knowledge and understanding of organization’s Employee Handbook and policies.
