Senior Credit Underwriter

Compensation Range: $85,000 to $105,000 depending on experience plus excellent benefits
Position Status: Full-Time, Non-exempt

*** This position is on-site 5 days a week in our DTLA Headquarter Office***

ORGANIZATION BACKGROUND

PACE is local community nonprofit organization founded in 1976 to originally provide job training and placement services for the Asian Pacific Islander communities in Los Angeles. PACE has since expanded into a variety of service areas, all tailored to meet the growing and changing needs of the multi-ethnic communities in Los Angeles County. Now, in addition to job training and employment services, significant PACE programs encompass: Business Development; Early Childhood Education (Head Start); Financial Education and Asset Building; Housing and Rehabilitation Services; Weatherization and Energy-conservation programs; and Affordable Housing Development. PACE serves more than 40,000 people each year with our wide scope of services with approximately 350 staff. PACE is recognized as a leader in addressing problems of poverty and economic inequity in ethnic minority communities and has a reputation of being responsive to community needs and is known for creating innovative solutions to the myriad of challenges faced by our clients. https://pacela.org/

1) POSITION SUMMARY

PACE Finance Corporation (PFC) is seeking an experienced and highly motivated Senior Underwriter to join our Lending Team .Under the supervision and direction of the Loan Manager, the Senior Credit Underwriter will be responsible for independently performing complex loan underwriting and credit risk analysis, primarily for business or commercial loans. The role requires a seasoned professional with a strong understanding of underwriting principles, financial analysis, and risk assessment. The Senior Credit Underwriter will help drive the lending process by analyzing financials, preparing detailed credit memos, and providing sound recommendations to the internal and external loan committee. This position will also collaborate with the broader team to meet performance outcomes, ensure compliance standards are met, and help achieve lending program goals. Additionally, the Senior Credit Underwriter may act as a representative for the organization when cultivating and maintaining relationships with key stakeholders, partners, and community organizations. This is a great opportunity to contribute to the organization’s mission of serving underserved communities while advancing a career in lending and underwriting.

2) WORKING RELATIONSHIPS

• Collaborate with loan and business counselors to gather documentation for loan applications, assess borrower financials, and ensure smooth communication throughout the underwriting process.
• Work closely with the servicing/closing team to ensure accurate and timely loan disbursement, servicing, and post-loan tracking.
• Partner with the portfolio management team to monitor loan performance, identify potential risks, and proactively manage portfolio health.
• Provide expert guidance and mentorship to junior credit analysts and underwriting staff.
• Report directly to the Loan Manager, providing comprehensive underwriting support, strategic recommendations, and updates on loan pipeline progress.

3) MAJOR RESPONSIBILITIES & DUTIES

• Loan Underwriting & Credit Analysis
  • Perform detailed underwriting for commercial loans, including business loans and contract financing loans evaluating risk and repayment ability.
  • Review loan applications to ensure completeness, compliance with lending policies, and adherence to organizational goals.
  • Analyze complex financial statements, tax returns, cash flow statements, and other relevant documentation to assess borrower creditworthiness.
  • Prepare and present comprehensive loan cases, including credit memos, risk assessments, and proposed loan structures to internal and external loan committees for approval, ensuring clear and accurate communication of all necessary information.
  • Address committee feedback and questions, incorporating recommendations into loan packages to facilitate informed decision-making and maintain alignment with program goals.
  • Support the development of new lending programs and provide input on program design and underwriting standards.
• Portfolio Monitoring & Risk Management
  • Monitor loan portfolio performance by reviewing borrower financial reports, payment history, and compliance with loan covenants.
  • Identify potential risks or problem loans and recommend action plans to mitigate risk and ensure portfolio health.
  • Collaborate with portfolio management team to prepare risk classification reports and updates for senior management.
• Administrative & Compliance Support
  • Ensure all underwriting activities align with internal policies, program requirements, and external regulations.
  • Maintain accurate and organized loan files in the loan management system, ensuring all documentation is complete and current.
  • Assist with loan disbursement and post-loan monitoring activities, ensuring a seamless borrower experience.
  • Compile data for internal and external reporting requirements, including audits and compliance reviews.
• Stakeholder Engagement & Representation
  • Represent the organization in borrower meetings, partner collaborations, and community engagements to promote lending programs and establish strong relationships.
  • Provide technical expertise and support to internal teams, ensuring smooth collaborations across lending programs.

4) QUALIFICATIONS, EXPERIENCES, & SKILLS

Education & Experience

• Minimum Bachelor’s Degree or equivalent in Business Administration, Finance, Economics or related field; advanced degree or certifications (e.g., CFA, CPA, CCIM) a plus.
• Minimum 4 years of commercial lending or credit underwriting experience, with a strong focus on small business and contract financing loans.
• Familiarity with reviewing and analyzing complex documents such as project budgets, construction contracts, financial statements, cash flow projections, contractor qualifications, and other relevant documents to assess risk and repayment capacity.
• Experience working in a nonprofit, CDFI, or community-focused financial institution is a plus

Skills & Abilities

• Advanced financial analysis and risk assessment skills.
• In-depth knowledge of underwriting principles and credit analysis.
• Proficiency in Microsoft Office Suite (Word, Excel, Outlook) and loan management or CRM software.
• Exceptional interpersonal, verbal, and written communication skills
• Strong organizational skills with the ability to handle multiple priorities and meet deadlines.
• Strategic problem-solving skills with attention to detail and accuracy.
• Ability to work independently and as part of a collaborative team.
• Bilingual skills are highly desired.

5) OTHER REQUIREMENTS

• Must pass employment and professional verification/reference check
• COVID vaccination required; must have two-dose series of Pfizer or Moderna or a single-dose of Johnson & Johnson. Those that need a medical or religious exemption must reach out separately.

6) APPLICATION PROCESS:

• All applicants must complete online application on our website and upload resume to be considered: https://pacela.org/about/work-at-pace/
• Applications will be reviewed on a rolling basis until positions have been filled.

7) PHYSICAL DEMANDS

These physical demands represent the requirements necessary for an employee to successfully perform the essential functions of the Credit Analyst role. Reasonable accommodations can be made to enable individuals with disabilities to perform the described essential functions. While performing the responsibilities of this position, the employee is regularly required to sit for extended periods, talk, and hear. The employee will frequently use their hands and fingers to operate a computer, handle documents, and perform data entry. The employee may occasionally be required to stand, walk, reach with arms and hands, and lift or move items up to 15 lbs. Vision abilities required by this job include close vision for reading documents and working on a computer.

PACE Finance Corporation is a private not-for-profit corporation that provides employment, small business assistance, education, housing and other community services in the Los Angeles County and County areas. PACE Finance Corporation is an equal opportunity and affirmative action employer.

Salary : $85,000 - $105,000