Start a Rewarding Career with Alliant
What will your day look like?
You will be tasked with analyzing both investor owned and owner occupied commercial properties across all asset types. More specifically, this position is responsible for authoring detailed new loan opportunity memorandums, closing and accurate funding of commercial loans, performing annual reviews, and assembling analytical reports as requested by management. The Commercial Loan Underwriter will present portfolio management updates and new transactions to various committees. The position requires daily interactions with Loan Originators to validate and verify the accuracy of various deal aspects. In addition, regular interactions and coordination with outside legal counsel as part of the loan closing process is required along with diligence on ownership entities and investigation of all existing or prior liens. A commitment to meeting tight deadlines and a customer service mindset is essential. Additionally, the Commercial Lending Underwriter will be looked to as a Policy and Standards expert that has a deep understanding of regulatory matters.
Do you see yourself doing this?
- Analyze new loan opportunities, focusing on both fully depicting the property’s strengths and weaknesses and the financial health of the transaction’s sponsors as determined by reviewing and reconciling credit reports, tax returns, financial data, market data, appraisals, etc.
- Present findings to ACU loan committees based on a comprehensive underwriting in compliance with commercial loan Policy and Standards and credit risk parameters.
- Ensure timely completion of Annual Reviews and other assessment reports and present recommendations to ACU loan committees.
- Make Risk Rating adjustment recommendations due to covenant violations, changing economic and market conditions, collateral conditions and guarantor conditions.
- Make process and policy change recommendations to departmental leadership.
- Collect due diligence necessary to close commercial loans with outside counsel.
- Gather complete and accurate loan documentation that conforms to approved terms.
- Onboard new loan documentation into ACU systems.
- Oversee initial loan funding including establishing escrow accounts.
- Oversee future draws where applicable.
- Provide anticipated funding reports on a weekly basis to internal Accounting, Finance, and Risk Management departments
- Evaluate ownership and affirm that it corresponds with vetting requirements necessitated by NCUA and IDFPR regulations
- Reconcile and settle all vendor charges including legal, engineering, title, appraisal, environmental, and others.
- Ensure strong internal controls and quality assurance policies and procedures are adhered to at all times.
- Assist in formulating, maintaining and updating effective loan closing procedures.
What makes you a great fit?
You’ll be a great fit if in addition to the completion of a Bachelor’s in Finance, Accounting or a related field, and you have:
- 3+ years credit experience in a banking, credit union, CMBS or institutional lending environment with strong emphasis in commercial real estate.
- Thorough knowledge of credit analysis, lending, and loan and appraisal review.
- Ability to gather, analyze and compile financial data required to provide management reporting related to credit risk.
- Strong analytical and problem-solving skills.
- Strong organizational, collaborative and consultative skills.
- Effective interpersonal and communication skills.
- Advanced computer skills utilizing MS Office Suite of products and financial statement spread software a plus.
- Ability to travel up to 20%
When you’re happy, we’re happy!
As a thank you for joining our team, you’ll benefit from:
- Competitive medical, dental, and free vision benefits
- Competitive compensation plan
- Contributions towards gym memberships
- Generous PTO and banking holidays off
Still not convinced?
Alliant Credit Union is proud to be an EEO/AA employer.