Commercial Underwriter

Busey Bank - Schaumburg, IL

Full-time - Mid Level

Schaumburg, IL

Credit Intermediation and Related Activities

About the position

The Commercial Underwriter plays a crucial role in providing accurate, timely, and succinct credit underwriting to support the company's portfolio management and new business development efforts. This position involves a comprehensive analysis of financial statements, including the calculation of Debt Service Coverage or Fixed Charge Coverage Ratios in accordance with Busey guidelines. The underwriter will utilize financial data such as cash flow, liquidity, profitability, and leverage to assess and mitigate the overall risk associated with extending credit to businesses and individuals. In collaboration with Commercial Relationship Managers and other lending staff, the underwriter will prepare clear and concise Commercial Credit Approval Request (CCAR) memos that encompass all relevant information regarding the risk of the loan, highlighting the strengths and weaknesses of the borrower. The role also requires evaluating collateral, industry data, and other pertinent credit information to ensure informed decision-making. Additionally, the Commercial Underwriter will assist with portfolio management duties, which include testing financial covenants, monitoring monthly borrowing base reports, and preparing portfolio reviews and sensitive asset reports as assigned. The underwriter will also support Commercial Relationship Managers in preparing opportunity memos for both new and existing relationships, maintaining a thorough understanding of the Commercial Banking Loan Policy and systems, including nCino. The position involves participating in the sales process, which may include accompanying Relationship Managers on customer and prospect calls. The underwriter will have the authority to approve loans within defined limits and recommend loans for approval that exceed those limits. Participation in pipeline meetings is also expected to enhance knowledge of prospective opportunities and upcoming renewals, along with assisting with other duties or special projects as assigned.

Responsibilities

• Provide accurate and timely credit underwriting to support portfolio management and new business development.
• Perform financial statement spreading and analysis, including calculating Debt Service Coverage or Fixed Charge Coverage Ratios.
• Utilize financial data to assess and minimize the risk of extending credit to businesses and individuals.
• Collaborate with Commercial Relationship Managers to prepare Commercial Credit Approval Request (CCAR) memos.
• Evaluate collateral, industry data, and other relevant credit information.
• Assist with portfolio management duties, including testing financial covenants and monitoring monthly borrowing base reports.
• Prepare opportunity memos for new and existing relationships in collaboration with Relationship Managers.
• Maintain knowledge of the Commercial Banking Loan Policy and systems, including nCino.
• Participate in the sales process and accompany Relationship Managers on customer and prospect calls.
• Approve loans within defined authority levels and recommend loans for higher approvals.
• Participate in pipeline meetings to discuss prospective opportunities and upcoming renewals.

Requirements

• Bachelor's degree with a concentration in Business or Finance.
• 3 or more years of Commercial Credit experience for Commercial Underwriter Level I.
• 5 or more years of Commercial Credit experience for Commercial Underwriter Level II, along with 2 or more years in the Commercial Underwriter role.
• 7 or more years of Commercial Credit experience for Commercial Underwriter Level III, along with 2 or more years in the Commercial Underwriter role.
• Strong oral and written communication skills.
• Proficiency in Microsoft Office Suite.
• Knowledge of financial accounting.
• Ability to multi-task and work independently.
• Strong analytical and problem-solving skills.

Nice-to-haves

• Experience with nCino or similar banking software.
• Familiarity with commercial banking loan policies and procedures.

Benefits

• Diverse and inclusive workplace culture.
• Equal Opportunity Employer including Disability/Vets.