What are the responsibilities and job description for the SBA Underwriter position at b1BANK?
Summary
This position is with Waterstone LSP, LLC, a subsidiary of b1BANK. The Small Business Administration Underwriter (SBA) plays a crucial role in assessing the credit risk associated with small business loans. This position’s primary responsibility is to evaluate loan applications, particularly those related to SBA 7a and Express loans.
Specific Job Functions
This position is with Waterstone LSP, LLC, a subsidiary of b1BANK. The Small Business Administration Underwriter (SBA) plays a crucial role in assessing the credit risk associated with small business loans. This position’s primary responsibility is to evaluate loan applications, particularly those related to SBA 7a and Express loans.
Specific Job Functions
- Analyzes credit applications submitted by small businesses seeking financing.
- Assesses the creditworthiness of borrowers based on factors such as income, loan amount, and repayment capacity.
- Ensures compliance with the company’s credit risk management strategy, credit policy, and specific SBA loan programs.
- Conducts detailed quantitative and qualitative credit analysis.
- Evaluates the risk associated with each loan application.
- Collaborates with loan officers and other team members to structure loans appropriately.
- Determines suitable loan terms, including interest rates, repayment schedules, and collateral requirements.
- Ensures that loan structures align with SBA guidelines.
- Reviews and verifies loan documentation to identify any discrepancies or red flags.
- Stays informed of all SBA regulations, guidelines, and program updates.
- Ensures that all loan decisions adhere to SBA requirements.
- Collaborates with legal and compliance teams to maintain compliance.
- Addresses inquiries and resolves issues regarding SBA loans.
- Makes informed credit decisions based on thorough analysis.
- Balances risk and rewards to support the growth of small businesses.
- Maintains accurate records of loan applications, decisions, and related correspondence.
- Documents the rationale behind credit decisions.
- Bachelor’s degree in Finance, Accounting, or a related field required.
- Minimum (4) four years of experience in commercial lending, underwriting, or credit analysis.
- Experience with SBA loan programs and guidelines are preferred.
- Proficiency in financial modeling and risk assessment tools.
- (Strong financial and analytical skills. – optional depending on job title)
- Possess strong organizational and interpersonal skills.
- Must demonstrate strong oral and written communication skills to effectively communicate with co-workers and clients.
- (experienced or proficient) in computer skills and Microsoft Suite.