What are the responsibilities and job description for the SBA Digital Senior Underwriter position at Grasshopper Bank?
SBA Digital Senior Underwriter
Department : SBA Lending
Employment Type : Full Time
Location : Remote
Reporting To : Tawni Thompson
Description
Grasshopper Bank is a client-first , digital bank built for the business and innovation economy, with an obsession for providing leading-edge technology, solutions-driven products and superior service through a combination of passionate people and digital resources.
We are a highly experienced team who pride ourselves on diversity of thought and perspective . Nationally chartered, our portfolio of products and services range from VC, PE & Portfolio Companies to SBA Lending, as well as direct SMB and Embedded Banking.
Our entrepreneurial drive allows us to support the growth and success of a wide range of clients at every stage of their business through inclusive partnership . We seek out team members who will enable both our organization and our people to grow and thrive through collaboration and acting with integrity and respect.
Our focus on cross-functional teamwork provides a culture where ideas are valued, accountability is encouraged , and successes are celebrated . We welcome all those searching for the opportunity to contribute to banking innovation that influences and supports the emerging digital world of Financial Services.
Our digital first approach enables our teams the flexibility to work remotely. We have offices in NYC and Boston.
What you'll do :
The SBA Digital Senior Underwriter will be responsible for evaluating Small Business Administration (SBA) loan applications based on established Grasshopper Bank credit criteria and SBA Standard Operating Procedures. The SBA Senior Underwriter is responsible for preparing credit memorandum which includes credit risk analysis and recommendation, ordering and reviewing third party reports, reviewing and determining SBA eligibility for franchise agreements, fuel supply / jobber agreements, management agreements, leases, landlord waivers and all other credit relevant documents. This position will also work directly with business development officers and closers to assist borrowers through the loan process to closure.
Responsibilities include :
- Conduct in-depth analysis of financial information to form a recommendation of approval or denial of new loans
- Collect, analyze and evaluate financial and related data to determine credit worthiness of loan prospects and merits of specific loan requests
- Collaborate with the Product Specialist, Relationship Managers, and Business Development Officers to gather all necessary information to present an accurate and complete picture of the loan presented
- Calls jointly on clients with Product Specialists or Business Development Officers to understand client's needs and specific risks to client business
- Perform preliminary due diligence and analysis for cash flow, financial capacity, and SBA eligibility
- Prepare high quality, detailed credit approval documents that contain an in-depth analysis and an understanding and identification of credit issues and risks
- Outline the risks and mitigating factors of a credit facility based upon the analysis of business and personal financial statements, collateral, global cash flow, economic and industrial factors and debt service capacity
- Spread and interpret financial statements, tax returns, and projections using Excel and other risk Analytics. Completing spreads, cash flow, analysis and preparing a credit authorization with a credit decision recommendation in accordance with Bank's and SBA policy and the current Small Business Administration (SBA) Standard Operating Procedures
- Meet or exceed service level agreements and turn time goals throughout the process
- Provide credit and loan underwriting expertise to sales team on Government guaranteed loans and recommend terms under which credit will be extended, including the costs, repayment method, and collateral requirements
- Prepare Credit Memorandums
- Assignment of accurate risk ratings for new loans
- Support the Bank's strong relationship banking culture through ongoing customer contact, quality customer service, and superior product knowledge, and understand and adhere to the Bank's Bank Secrecy Act policy and procedures and "know your customer / enhanced due diligence" guidelines
What you need :
