Senior Special Assets C&I Underwriter

Title: Senior Special Assets C&I Underwriter

Job Location: Livermore, CA

Hiring salary range: $116,700.00 - $151,600.00 annual

Fremont Bank founded in 1964, is one of the oldest independently owned banks in the Bay Area and is one of the top rated mid-tier banks in the nation. Voted a Top Workplace for 2024 and for the past fourteen consecutive years, Fremont Bank has an immediate opening for a Senior Special Assets C&I Underwriter in Livermore, CA.

Position Overview

Under the supervision of the Special Assets Manager, the Senior Special Assets C&I Underwriter will assist in the restructuring of troubled borrower relationships and/or adversely graded loans within the Bank’s loan portfolio while ensuring compliance with all applicable state and federal laws, rules and regulations and Bank lending policies and procedures. This position is responsible for the underwriting and management of loan relationships within the Bank’s classified loan portfolio. The primary loan products of the department are secured and unsecured commercial loans, land loans, construction & development loans, income property loans, and private banking lines. The department manages a classified loan portfolio with a goal to reduce classified assets, minimize loan losses and maintain compliance with bank and regulatory requirements. The position reviews and analyzes necessary information to develop strategies for improving risk rating, reducing principal balance, ensuring adequate collateral coverage and limiting loan losses. The position requires the ability to work independently and as a team member to attain department and corporate goals. In addition, this position will perform detailed analysis of financial statements, cash flows and impairments. The position will also assist and/or prepare various monthly and quarterly reports required of the Special Assets Department. Performs all duties and interacts with internal and external customers in a manner aligned with the Company Core Values.

Role And Responsibilities

• Manage a portfolio of criticized and classified loans as assigned, to minimize delinquency and charge-offs.
• Provides quality and timely analysis and reporting, as required.
• Meet with problem loan customers to evaluate the severity of the problem and develop recommendations to improve the likelihood of repayment and minimize risk of loss to the Bank.
• Negotiate with debtors or their representatives to secure repayment agreements and monitor adherence to the terms of approved repayment agreements. Negotiations of the structure, or other remedies that can help make the relationship with borrower more advantageous. This immediately suggests the need to study loans, including technical aspects of the loan such as interest rate, penalty fees, repayment contracts and liquidation rights, collateral position strength of guarantors. After overseeing the negotiation process, submit modifications and/or recommendations for approval to the appropriate committee.
• Obtain, manage and dispose of repossessed assets in an efficient and timely manner.
• Ensure the risk rating, accrual status and loan loss provisions of the assigned portfolio accurately reflect the risk of those assets.
• Ensure that downgrades and/or charge-offs are recommended on a timely basis.
• In collaboration with the Special Assets Manager, may be assigned to manage bankruptcy and foreclosure processes, which would include interactions with legal counsel.
• Provide guidance regarding the early identification, evaluation of and potential strategies for deteriorating loan situations to lending staff on smaller, non-complex business purpose credits not formally assigned to Special Assets to minimize losses and maximize recoveries.
• Assist with special projects such as annual loan monitoring, Credit Review and/or Audit Request as needed.
  
  

Minimum Qualifications

• Bachelor’s Degree or equivalent experience
• Four plus years of experience in C&I underwriting & CRE underwriting
• Must have understanding of Global Cash Flow
• Must have understanding of business financial statements and spreading software
• Advanced skills utilizing Microsoft Excel with experience in Outlook, Work and PowerPoint.
• Ability to deliver excellent service to teammates, sales staff, and customers.
• Ability to work in a fast-paced environment while delivering accurate and quality work product
• Knowledge of the Bay Area industries and real estate market preferred
• Loss mitigation, or loan workout experience is a plus. Experience in the financial industry in a commercial lending or credit approval role may substitute for collections-specific experience. Requires moderate oversight.
• Must be knowledgeable of the Fair Debt Collection Protection Act.
• Proficient in the use of the PC, MS Office, email, and internet usage.
• Possess strong understanding and experience in commercial loan underwriting, structuring, approval and documentation.
• Possess a strong understanding of business and other economic issues to logically assess and analyze the potential risks of problem credits so as to resolve them in an efficient and professional manner.
• Must be knowledgeable of the Fair Debt Collection Protection Act.
• Able to read title searches and identify lien positions
• Able to analyze credit reports, tax returns, business and personal financial statements, rent rolls and appraisals.
• Accuracy and Thoroughness –Strong attention to detail.
• Analytical Skills – Must have strong problem-solving and critical thinking skills.
• Communication – Must speak and write clearly and persuasively in all situations; you listen, get clarification, and respond well to questions.
• Compliance – Must adhere to Bank policies and regulations.
• Innovation –An original thinker who brings creativity to dealing with work problems and opportunities, meeting challenges with resourcefulness.
• Multi Task - Must be able to meet time sensitive deadlines in an unstructured work environment with minimal supervision and constant interruptions.
• Monthly reporting and spreading financials require solid Excel and spreading software skills.
• Actively participate in team meetings.
• Proficient in the use of the PC, MS Office, email, and internet usage.
• Loss mitigation, or loan workout experience. Experience in the financial industry in a commercial lending or credit approval role may substitute for collections-specific experience. Requires occasional oversight.
• Must be able to:
• Work a flexible work schedule to include before and after normal work hours, weekends and holidays when necessary.
• Must be able to operate standard office equipment, including phone, personal computer, copier, and etc.
• Must be able to read and understand bank-related documents.
• Must be able to work in a conventional office setting, involving sitting at a desk or workstation for long periods of time.
• Must also be able to adapt to different work environments as needed to perform the job.
• Knowledgeable of foreclosure and bankruptcy laws.