What are the responsibilities and job description for the Underwriting Director - (Hybrid, Raleigh, NC) position at Carolina Small Business Development Fund?
Carolina Small Business Development Fund - Raleigh, NC
Underwriting Director - (Hybrid Role) - EXEMPT Status
Who we are: Carolina Small Business Development Fund (CSBDF) is a nonprofit and certified community development financial institution (CDFI). We are passionate and committed to providing support to small businesses across the state. Our Mission is to foster economic development in underserved communities by providing capital, business services, and policy research to support small businesses. CSBDF provides assistance to small businesses in four major ways: as a partner, as a trusted guide, as an advocate for small businesses, and as an accessible funding source. Our work supports our vision to create economic opportunity for all people.
Nature of Work: The Underwriting Director manages underwriting staff, key credit department functions including loan underwriting, analysis and approvals; and loan servicing and processing.The Director underwrites loan applications and manages the overall credit operations in accordance with Carolina Small Business Development Fund (CSBDF) policies and procedures to ensure and maintain good quality credit. The position is responsible for managing the underwriting of eligible loans under the various loan guaranty programs including the SBA Community Advantage Pilot Program, Charlotte Community Capital Program, USDA Business and Industry Program, and US DOT Short Term Lending Program. This position is housed within the Credit Department but supports the work of both the Credit and Business Solutions Teams within the organization.
Supervision Received/Exercised: Works under the general supervision of the VP, Chief Credit Officer and is the direct supervisor of the credit underwriting team.
Essential Job Functions: The following duties ARE NOT intended to serve as a comprehensive list of all duties performed by all employees in this classification. Shown are duties intended to provide a representative summary of the major duties and responsibilities. Incumbent(s) may not be required to perform all duties listed and may be required to perform additional, position- specific duties.
Credit Analysis & Underwriting:
Our brand symbolizes how we enact our theory of change in support of current and aspiring small business owners. The torch logo reflects a three-pronged commitment to help entrepreneurs grow and thrive through affordable financing, holistic business solution services, and evidence-based policy research. The strategic roadmap is based on a set of guiding values that are the foundation of our activities.
We have adopted the following shared corporate values:
Work is principally sedentary but may involve some physical exertion during the course of normal work activities, and travel to meetings, conferences, or workshops in other cities. As an exempt employee, extended hours may be required on a frequent basis.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Work Environment:
Work involves the normal risks or discomfort associated with a standard office environment and is usually in an area that is adequately heated, lighted, and ventilated.
Compensation:
We offer a competitive salary that depends on prior experience. Our benefits package includes Medical, Dental, Vision, Short Term Disability, Long Term Disability, 401k Account with employer match, plus generous vacation and sick time.
This job description does not constitute an employment agreement between the employer and employee and is subject to change by the employer as the needs of the employer and requirements of the job change.
Carolina Small Business Development Fund (CSBDF) is an equal opportunity employer, including disabled persons and veterans.
Underwriting Director - (Hybrid Role) - EXEMPT Status
Who we are: Carolina Small Business Development Fund (CSBDF) is a nonprofit and certified community development financial institution (CDFI). We are passionate and committed to providing support to small businesses across the state. Our Mission is to foster economic development in underserved communities by providing capital, business services, and policy research to support small businesses. CSBDF provides assistance to small businesses in four major ways: as a partner, as a trusted guide, as an advocate for small businesses, and as an accessible funding source. Our work supports our vision to create economic opportunity for all people.
Nature of Work: The Underwriting Director manages underwriting staff, key credit department functions including loan underwriting, analysis and approvals; and loan servicing and processing.The Director underwrites loan applications and manages the overall credit operations in accordance with Carolina Small Business Development Fund (CSBDF) policies and procedures to ensure and maintain good quality credit. The position is responsible for managing the underwriting of eligible loans under the various loan guaranty programs including the SBA Community Advantage Pilot Program, Charlotte Community Capital Program, USDA Business and Industry Program, and US DOT Short Term Lending Program. This position is housed within the Credit Department but supports the work of both the Credit and Business Solutions Teams within the organization.
Supervision Received/Exercised: Works under the general supervision of the VP, Chief Credit Officer and is the direct supervisor of the credit underwriting team.
Essential Job Functions: The following duties ARE NOT intended to serve as a comprehensive list of all duties performed by all employees in this classification. Shown are duties intended to provide a representative summary of the major duties and responsibilities. Incumbent(s) may not be required to perform all duties listed and may be required to perform additional, position- specific duties.
Credit Analysis & Underwriting:
- Provide independent, in-depth analysis of financial statements, projections, business plans, and collateral to identify risks, mitigants, and appropriate loan structures.
- Prepare credit memoranda and present recommendations in line with CSBDF approval authorities and program guidelines.
- Serve as SME for various loan capital and guaranty programs available to CSBDF (e.g., SBA 7(a), SSBCI capital program) to ensure compliant underwriting and eligibility across programs.
- Maintain current and up-to-date knowledge of lending policies, program rules, regulatory guidance, industry trends, and best practices.
- Manage issuance of loan commitment letters.
- Collaborate with CSBDF Directors (i.e., Business Solutions Director; Loan Operations Director; Loan Portfolio Director) to coordinate application intake, pipeline assignment, and workload balancing to meet expected procedural and cycle-time targets.
- Identify and implement process improvements (including automation opportunities) to streamline underwriting activities and reduce cycle times.
- Ensure direct reports adhere to established policies, procedures, and documentation standards while encouraging continuous improvement.
- Track and report production, approval rates, exceptions, and cycle-time target adherence; recommend actions based on trends.
- Collaborate with Loan Portfolio Director to monitor portfolio performance (e.g., delinquencies, charge-offs, concentrations); recommend risk mitigation strategies and structural credit facility enhancements.
- Support periodic audits, file reviews, and compliance reviews; contribute to policy updates and controls.
- Ensure accurate and timely reporting and other required submissions for various loan capital and guaranty programs available to CSBDF (e.g., SBA 7(a), SSBCI capital program).
- Mentor, coach, and develop analysts/underwriters; conduct periodic performance reviews and individualized development plans.
- Promote consistency in analysis, credit memoranda quality, and credit decisioning across the team.
- Collaborate with other internal team members to deliver cohesive borrower experience.
- Represent CSBDF at community events, partner forums, and stakeholder meetings as needed; communicate program capabilities and credit perspectives.
- Perform other duties as assigned.
- Must be a resident of North Carolina
- Bachelor’s degree in Finance, Accounting, Economics, or other related field (or equivalent experience).
- 6 years in commercial/small business underwriting, with at least 3 years in a leadership/supervisory role. Direct experience with CDFI-specific lending or microlending is strongly preferred.
- Strong understanding of accounting principles, credit analysis, and commercial underwriting, including financial statement review, asset valuation, and cash flow analysis.
- Expertise in Global Cash Flow analysis and character-based credit assessment for early-stage or underserved entrepreneurs.
- Hands-on experience preparing credit memoranda for loan committees.
- Thorough knowledge and understanding of commercial loan documentation and business entity structures.
- Understanding of regulatory requirements governing lending activities.
- Familiarity with U.S. Small Business Administration (SBA) 7(a) loan requirements and related compliance standards is strongly preferred.
- Working knowledge of loan origination and portfolio management systems; experience with Salesforce and CDFI-specific software is strongly preferred.
- Proactive leadership with strong negotiation, persuasion, and decision-making skills.
- Excellent communication, organizational, and attention-to-detail capabilities.
- Ability to maintain confidentiality and exercise discretion when handling sensitive client information.
- Commitment to fostering a quality credit culture and supporting a collaborative, team-based environment both in-person and virtually.
- Strong ability to prioritize tasks, meet deadlines, and adapt to a fast paced, dynamic work environment.
Our brand symbolizes how we enact our theory of change in support of current and aspiring small business owners. The torch logo reflects a three-pronged commitment to help entrepreneurs grow and thrive through affordable financing, holistic business solution services, and evidence-based policy research. The strategic roadmap is based on a set of guiding values that are the foundation of our activities.
We have adopted the following shared corporate values:
- Embrace Diversity
- Live with Integrity
- Maintain Trust
- Foster Stability
- Be Efficient
- Aligned Accountability
Work is principally sedentary but may involve some physical exertion during the course of normal work activities, and travel to meetings, conferences, or workshops in other cities. As an exempt employee, extended hours may be required on a frequent basis.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Work Environment:
Work involves the normal risks or discomfort associated with a standard office environment and is usually in an area that is adequately heated, lighted, and ventilated.
Compensation:
We offer a competitive salary that depends on prior experience. Our benefits package includes Medical, Dental, Vision, Short Term Disability, Long Term Disability, 401k Account with employer match, plus generous vacation and sick time.
This job description does not constitute an employment agreement between the employer and employee and is subject to change by the employer as the needs of the employer and requirements of the job change.
Carolina Small Business Development Fund (CSBDF) is an equal opportunity employer, including disabled persons and veterans.
Salary : $90,000 - $100,000