Credit Officer
Overall underwriting of complex SBA 7a loan transactions under the supervision of the Credit Team Lead and/or Credit Manager.
LOCATION / REMOTE
Remote
SALARY RANGE
Undisclosed
QUALIFICATIONS
- Advanced Credit underwriting skills with minimum 5 years of Underwriting complex SBA 7(a) loans
- Proficient business writing skills
- Professional speaking and presentation skills
- Advanced understanding and knowledge of SBA eligibility and guidelines
- Advanced ability to identify and mitigate credit risks in the beginning of the process
- Ability to thoroughly analyze and interpret financial statements (and understand the notable impacts to the overall credit request), business reports and legal documents
- Ability to prioritize and underwrite multiple loan requests at any given time, based on Company-goals and deadlines (including assisting with changes to loans in Closing)
- Reliable judgment and problem-solving skills
RESPONSiBILITIES
- Responsible for underwriting complex SBA 7a loan transactions under the supervision of the Credit Team Lead and/or Credit Manager.
- Responsible for proactively updating pipeline report dates and statuses; Credit Officer must be prepared to provide valuable updates to loan requests on pipeline calls.
- Responsible for submitting an initial Underwriting Needs list to Applicant within 48 hours of loan assignment; documentation/responses received from Applicant must be reviewed within 24 hours of receipt with follow-up to Applicant within said time period. Credit Officer is responsible for proactively communicating with the Applicant throughout the Underwriting process. Credit Officer must be able to take initiative and perform reliable judgment with minimal supervision.
- Responsible for completing due diligence requirements within the Underwriting process, which include (not limited to) submitting tax transcript requests (and verifying transcripts), running/reviewing background check reports, CAIVRS searches, and other searches as required.
- Responsible for spreading and thoroughly analyzing financial information (tax returns, company-prepared financial statements, etc.) of loan applicants and evaluating the information according to internal Credit Policies & Procedures. Credit Officer must have advanced knowledge of financial analysis and ratios, as it relates to the impact of each applicable loan request.
- Responsible for ordering/reviewing 3rd party reports (e.g. Appraisal, Environmental, or Business Valuation).
- Responsible for preparing high-quality Credit Memorandums (CMs) with limited feedback from Management. Credit Officer will be responsible for ensuring CMs are underwritten to policies and procedures of VelocitySBA and the SBA. Credit Officer will be responsible for signing off on Underwriting conditions prior to Loan Closing.
- Responsible for exercising discretionary and independent judgment in preparing and recommending credit approval/decision to the Management Loan Committee.
- Responsible for collaboratively working with all parties (internal and external) to ensure a timely and efficient overall process. Credit Officer will be responsible for coordinating with the Closing Team to prioritize and efficiently process transactions, including timely completion of Amendments to Credit Memos to meet Closing target dates.
company
VelocitySBA