What are the responsibilities and job description for the Assistant Vice President, Commercial Loan Underwriter position at Ridgewood Savings Bank?
The estimated salary for this position is $110,000-$135,000/Annually.
Duties and Responsibilities/Results:
- Independently analyze and underwrite new commercial real estate and small business loan requests in accordance with the Bank’s lending policies, procedures, and regulatory requirements.
- Evaluate and interpret borrower and guarantor financial information, including personal financial statements, rent rolls, operating statements, corporate financials, tax returns, credit reports, and related due diligence materials.
- Structure and recommend appropriate loan terms based on risk assessment, cash flow, collateral, and overall creditworthiness, present recommendations to management and Credit Committee for approval.
- Conduct collateral inspections, as appropriate, to assess property condition and identify potential risks; recommend mitigants where necessary.
- Review and assess third-party reports, including appraisals, environmental assessments, title reports, and other relevant due diligence, to ensure consistency with underwriting conclusions.
- Prepare clear, well-supported credit memoranda for management and/or Board approval, and present underwriting analyses and recommendations with sound rationale.
- Key point of contact between the lending team and external legal counsel to address and resolve loan closing matters.
- Partner closely with loan officers, processors, and closers to ensure timely progression of loans through underwriting and closing, proactively addressing issues as they arise.
- Maintain awareness of market conditions, industry trends, and regulatory developments; contribute to ongoing enhancements of underwriting standards and credit practices.
- Support portfolio management activities, including loan reviews, risk rating assessments, and borrower workout strategies, as needed.
- Analyze complex borrower ownership structures and ensure appropriate due diligence is performed to meet KYC/AML requirements.
- Perform other duties as assigned.
Required Qualifications:
- BA/BS in Finance, Real Estate, Business Administration, or related field
- Minimum of 7 years of experience in commercial real estate underwriting.
- Minimum of 7 years of business loan underwriting experience
- SBA lending experience helpful.
- Demonstrated knowledge and understanding of local NYC Metropolitan CRE lending and small business markets
- Demonstrated ability to analyze rent rolls, collection reports, income and expense statements and DHCR reports.
- Demonstrated ability to analyze personal financial statements as well as corporate tax returns and corporate financials
- Ability to multitask and effectively manage a pipeline of loans to ensure timely underwriting and closing
- Detail oriented with excellent organizational and analytical skills and the ability to work independently.
- Proficiency in Microsoft Office 2016/365 (Word, Excel, Outlook, and PowerPoint).
- Excellent verbal and written communication skills.
Salary : $110,000 - $135,000