Business Loan Underwriter III (Special Assets)

Overview

To evaluate and underwrite business loan applications. To oversee and collect pertinent supporting underwriting information to ensure the completion of all necessary financial analysis. To present loan packages beyond approval authority to senior management, as well as assisting with the closing of business loans and monitoring subsequent financial information of Navy Federal business loan borrowers according to specific state and federal requirements to limit risk exposure to Navy Federal's business portfolio.

Responsibilities

• Analyzes business loan applicants' financial status, credit, and business to determine feasibility of granting credit including loan approval
• Works closely with development team/business member to ensure all appropriate data is obtained
• Reviews and analyzes loan applications to ensure that necessary documents have been received and validates the integrity of the data
• Determines credit-worthiness of the borrower by performing qualitative/quantitative analysis such as review of financial statements, credit reports, and applicable ratios (e.g., Debt to Income (DTI), Loan to Value (LTV), etc.) using established guidelines of NFCU, industry best practices and applicable state and governmental regulations
• Proposes/determines the appropriate deal structure commensurate with the associated risk level on approved business credit deals, including appropriate financial, operational or capital/cash covenants
• Analyzes counter offers, exceptions and rejections and recommends alternative business products better suited to the business loan applicant
• Presents business loan package and loan recommendation, in a consultative process, to senior business lending management for loans above approval authority
• Reviews and evaluates business annual financial statements/tax returns to ensure adherence to NFCU, SBA and relevant industry practices/requirements
• Analyzes tax statements independent of business scoring systems to confirm business viability
• Assesses risk of credit deals and business failing by assigning a rating and recommending any necessary action to mitigate credit union risk
• Approves or declines business loan submissions within assigned authority
• Approves business loans and authorizes loan disbursements based on a complete analysis of submitted documentation and applicable rules and regulations, in accordance with NFCU Business Lending policies and procedures
• Prepares adverse action (loan disapproval) notifications on behalf of the Business Lending Committee in recognition of the compliance provisions of the Equal Credit Opportunity Act (Reg B.)
• Supports Business Loan Underwriting functions
• Monitors Business Underwriting activities and respond to questions submitted via telephone, instant messages or through the mail
• Assists with the ongoing maintenance of the area's underwriting manual
• Collaborates with managers and participates in mentoring sessions for other Business units
• Provides daily input to management reports
• Assists with or completes the required monthly Colson report for NFCU's SBA program
• Underwrites all levels of credit complexity, inclusive of SBA and participation loans
• Uses advanced knowledge of industry specific metrics/standards/best practices and regulations to provide expert opinion on complex / sophisticated business deals
• Expected to formulate acceptable alternative deal structure(s)
• Extremely proficient using automated scoring systems (Statement Analyzer or CASH) and traditional underwriting methods
• Determines credit worthiness of business borrowers according to established guidelines
• Responds to the most complex internal and external customer inquiries
• Works independently on the most complex and largest of the business loan applications including multi-million dollar commercial real estate and participation deals
• Provides decisions on complicated exceptions submitted by difficult multi-varied business scenarios
• Collaborates with Compliance Management on unique business loans including regulatory waiver requests
• Maintains current knowledge of industry regulations and best practices
• Communicates extensively with members and others on the most complex and delicate matters
• May be required to travel and train others nationwide
• May provide division leadership in the absence of the Supervisor
• Performs other related duties, as assigned or appropriate

Qualifications

• Excellent understanding of business underwriting principles and concepts
• Familiarity with the various concepts used to derive a cash market value for any business and of the difference between cash flow from operations, cash flows from investing and cash flows from financing activities
• Good working knowledge of the means of collecting supporting information for the underwriting of business loans and the factors/metrics that go into properly evaluating the risks associated with different types of businesses
• Excellent understanding of financial ratios and concepts - such as liquidity, leverage, coverage, and operating ratios - and the concept of trend analysis and cash flow analysis
• Advanced knowledge of database, word processing and SBA industry systems
• Proficiency in using Microsoft Word and Excel or related software applications
• Thorough knowledge of and extensive experience in credit union or retail banking operations
• Familiarity with Navy Federal Credit Union policies and procedures
• Exceptional interpersonal, verbal and written communication skills
• Excellent analytical and organizational skills

Additional Information

Hours:

• Monday - Friday, 8:00AM - 4:30PM

Location:

• 820 Follin Lane, Vienna, VA 22180
• 5510 Heritage Oaks Drive, Pensacola, FL 32526

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