Sr. Commercial Loan Underwriter - Major Clients

Salem Five is a growing regional financial services organization with a rich history of over 160 years.  As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

 This position requires the ability to work in our Salem and Stoneham, MA offices. 

Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families. 

Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we’re all about.    

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following, however other duties may be assigned based on business need:

• Responsible for underwriting and annually reviewing the largest and most complex commercial, C & I and/or commercial real estate (syndication transactions) and land development loans, in accordance with State Regulatory guidelines and Salem Five’s policies and procedures.  Working knowledge of Cash Flow Loan transactions is essential.
• Approves, administers, and reviews loans and loan commitments to ensure that they adhere to existing policy guidelines and that documentation is adequate to ensure security of collateral. Works directly with senior lenders to ensure proper loan structuring for larger, very complex transactions occurs.
• Examines for adequacy and completeness, loan documentation on a wide variety of loans and loan commitments.
• Approve or reject loans, ensuring that the credits adhere to existing credit guidelines and that applicants are deemed credit worthy.
• Assist the CCO with commercial credit policy development. 
• Management of key credit projects assigned by the CCO. 
• Administers and reviews existing credits to protect the quality and profitability of the loan portfolio.
• Identifies potential problem loans and assists lenders with problem loan strategies.
• Responsible for mentoring/training assigned new lenders and/or underwriters to further their understanding of the Bank’s credit culture. 
• Demonstrates compliance with banking business laws and regulations as defined in company policies and procedures pertinent to the position.

EDUCATION and/or EXPERIENCE

Bachelor's degree (B. A. or B. S.) from four-year college or university; and ten to fifteen years of related senior level experience (i.e., lending, credit approval, workout) and/or training; or equivalent combination of education and experience. Master’s degree in business or finance and/or prior lending experience preferred. Ten to fifteen years of commercial underwriting/lending experience, showing increasing levels of responsibilities, required. Experience underwriting larger and very complex loan transactions (i.e., CRE syndications and/or acquisition financing for $20 million or more.) Applicant must have appropriately developed computer skills to complete assignments. Previous experience with approval authority is required.

PHYSICAL DEMANDS 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.  While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel and talk or hear.  The employee frequently is required to sit.  The employee is occasionally required to stand, walk, and reach with hands and arms.  The employee must occasionally lift and/or move up to 10 pounds.  Specific vision abilities required by this job include close vision.

Benefits/Incentives: Health Insurance, Dental, Vision, Flexible Spending Account, Health Savings Account, 401k Matching, Tuition Reimbursement, Employee Referral Program, Summer Family Outing, Annual Holiday Reception and more

Salary Range:          Competitive Base plus Incentive

Ready to apply? If this job sounds like a fit for you, then click on Apply/Apply Now in this posting. We look forward to talking with you.

Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.