VP SBL Credit Officer III

Job Location US-NC-Morrisville
Type
Full Time

Overview

Perform complete loan underwriting document suitable for obtaining a credit decision.

Responsibilities

Essential Functions

  1. Performs Small Business Administration (SBA) audit quality review and approval of loan application and submission documentation (912, citizenship, ownership, and other eligibility) at time of underwriting for full compliance with SBA, 7a, 504 and USDA loans, bank credit standards, and feasibility of the proposed transaction. Use appropriate checklists and file system tools, communicate any deficiencies with team and issue appropriate letters and communications to drive the underwriting process. Work with management to handle more complex issues as needed.
  2. Determines loan request’s eligibility in terms of the bank’s policy and guidelines as well as the SBA’s SOP. Structure transactions in order to meet bank’s guidelines and the appropriate SBA/USDA loan program.
  3. Communicates with borrowers, sales team, lenders, internal team members, and others as appropriate. Speak with applicant/borrower to determine the knowledge and acceptability of the applicant.
  4. Prepares detailed financial analyses of borrowing entity, any corporate guarantors and/or affiliates, and principles in the transaction.
  5. Obtains, reviews, and approves credit reports, UCC searches, CIP, OFAC, and other documentation for accuracy, compliance, and acceptability for SBA guaranty and bank compliance with regulators.
  6. Generates a written Credit Approval Memorandum reflecting a full underwriting of the proposed transaction meeting SBA/bank standards for approval within approximately 5 days of receipt (for non-franchise loans, within 10 days of receipt). The completed analysis includes but is not limited to: financial statement analysis; description of the industry, business history, demographics, management experience and competition; SBA or USDA compliance; and the loan request’s conformance to credit policy, and the bank’s guidance lines when applicable.
  7. Assembles credit committee packages and work with management for presentation to the loan committee when needed.
  8. Prepares and forwards letters of approval or declination in accordance with internal process.
  9. Orders, reviews and approves third-party reports including commercial and residential appraisals, environment reports, business valuations, site visits, and equipment appraisals in accordance with bank’s/SBA standards for compliance, using bank forms.
  10. Reports loan updates and status changes within bank’s loan processing, surviving platform systems, with at least weekly updates to R comments, status and completion of tasks in bank’s software.
  11. Works with the closing department to facilitate the closing of loan requests and handle credit-related issues as needed. Prepare timely modifications as needed to complete loan closing process, confirming approvals are in place (internal, SBA and committee) when required, and obtain necessary approvals.
  12. Works with loan servicing to perform annual financial analysis of less complex loans in the portfolio as needed.
  13. Prepares, scans and sets up credit files in accordance with SBL standards.
  14. Performs other duties as assigned.

Qualifications

Education/Experience Requirements

  • Undergraduate degree in Business, Finance or an equivalent combination of training and experience.
  • 10 years’ experience in SBA credit underwriting preferred; or 10 years of complex commercial credit underwriting and/or specialty lending experience.

Preferred Requirements

  • Formal bank credit training preferred.
  • Strong working knowledge of accounting.
  • Strong verbal, written, and interpersonal communication skills.
  • Strong working knowledge of credit underwriting.
  • Good credit and underwriting skills analysis including cash flow, balance sheet, financial ratio, industry analysis, etc. with an understanding of bank’s credit profile, credit policies, and risk management objectives.
  • Team player able to work effectively in a team fostered, multi-tasking environment.
  • Proficient in Microsoft Office suite, e.g. Excel, PowerPoint, Word, Outlook.

Background & EEO Statement

Working at The Bancorp and Benefits Information: click here

 

Employment with The Bancorp includes successfully passing a background check including credit, criminal, education, employment, OFAC, and social media background history.

 

The Bancorp is an EQUAL OPPORTUNITY EMPLOYER and will not discriminate on the basis of race, color, religion, gender, gender, identity, sexual orientation, pregnancy, citizenship, national origin, age, disability, genetic information, veteran status or other protected category with respect to recruitment, hiring, training, promotion, and other terms and conditions of employment.

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