What are the responsibilities and job description for the Small Business Loan Underwriter position at Heritage Federal Credit Union?
Start your career with Heritage Federal Credit Union!
Heritage Federal Credit Union, a Readers' Choice Best Credit Union gold award recipient, is growing thanks to the focus on helping our members and community. At Heritage, we foster a dynamic and collaborative environment where your contributions truly make a difference. As we continue to expand, we are searching for a Small Business Loan Underwriter to join our amazing team!
The Small Business Loan Underwriter will assess creditworthiness, evaluate financial data, and make lending decisions for small business loan applicants using the FICO Small Business Scoring Service within defined credit parameters.
Additionally, the underwriter will monitor loan quality and assess risk within the credit union's commercial loan portfolio. This includes conducting annual reviews of existing commercial credit relationships and providing risk assessments to the Chief Credit Officer and credit committee.
What you’ll do:
- Analyze business and personal financial statements, tax returns, and cash flow projections to determine credit risk.
- Perform in-depth risk assessments of borrower relationships, including reviewing collateral and loan terms.
- Conduct comprehensive credit analysis for commercial loans, including working capital lines, term loans, real estate loans, and asset-based lending
- Collaborate with the Senior Loan Underwriter and management to discuss high-risk or complex loan applications.
- Assist in the development and improvement of underwriting guidelines and risk assessment tools for small business loans.
- Maintain current knowledge of all federal and state laws and regulations, as well as credit union policies and procedures relative to commercial lending.
Qualifications/Experience Required:
- Bachelor’s degree in finance, accounting, economics, business administration, or other business-related fields
- Four years of strong quantitative experience underwriting small business loans, preferably utilizing a credit scoring model preferred.
- Strong knowledge of required commercial loan documentation.
- Strong knowledge of commercial lending practices and policies.
- In-depth knowledge of loan products, financial markets, and credit risk management
- Strong proficiency in MS Office, credit underwriting software and general computer use.
About Heritage Federal Credit Union
Heritage Federal Credit Union offers financial products and services to anyone who lives, works, worships, attends school, participates in programs to alleviate poverty or distress, or participates in associations headquartered in; and businesses and other legal entities, incorporated and unincorporated organizations located in; or maintaining a facility located in Gibson, Posey, Warrick, Vanderburgh, Daviess, Knox, Spencer, Pike, Perry, Crawford, Clark, Floyd, and Harrison Counties in Indiana; and Henderson, Daviess, Hopkins, Hancock, Ohio, McLean, Webster, Union, and Crittenden Counties in Kentucky; and Lawrence, Wabash, White, Gallatin, and Hardin Counties in Illinois. More information regarding Heritage Federal Credit Union can be located at heritagefederal.org.
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