Credit Officer I
A closer look at this position:
Perform complete loan underwriting analysis and documentation suitable for obtaining a credit decision.
As a Credit Officer I , you will:
- Perform 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.
- Determine 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.
- Communicate 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.
- Prepare detailed financial analyses of borrowing entity, any corporate guarantors and/or affiliates, and principles in the transaction.
- Obtain, review, and approve all credit reports, CIP, OFAC, and other necessary documentation for accuracy, compliance, and acceptability for SBA guaranty and bank compliance with regulators.
- Generate a written Credit Approval Memorandum reflecting a full underwriting of the proposed transaction meeting SBA/bank standards for approval within approximately 8 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.
- Assemble credit committee packages and work with management for presentation to the loan committee when needed.
- Prepare and forward all letters of approval or declination in accordance with internal process and in conformity to regulatory guidance.
- Order, review and approve 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 when applicable.
- Develop knowledge of government guaranty loan programs (SBA, 7a, 504, SLA, Express, USDA B&I), including periodic changes to the programs implemented by the governing agency.
- Take training courses as needed regarding changes to the SOP (Standard Operating Procedures).
- Provide for the accurate reporting of all loan updates and status changes within bank’s loan processing, surviving platform systems, with at least weekly updates to include comments, status and completion of tasks in bank’s software.
- Work 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.
- Work with construction team on changes to loans that occur after closing. These are generally construction loans.
- Prepare, scan and set up credit files in Bank’s document scanning system, in accordance with SBL standards.
- Perform other related duties as assigned.
You’ve got what it takes if your credentials include:
- An undergraduate degree in Business, Finance, or a related field or an equivalent combination of training and experience.
- A minimum of 0-5 years related experience in SBA credit underwriting preferred; or over 5 years of complex commercial credit underwriting and/or specialty lending experience.
- 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.
- A team player able to work effectively in a team fostered, multi-tasking environment.
- Proficient in Microsoft Office suite, e.g. Excel, PowerPoint, Word, Outlook.
- Ability to manage portfolio of assigned loans effectively and independently. This requires strong time management skills.
Chart your career path at The Bancorp:
- Be part of an exceptional team focused on excellence, collaboration and high achievement.
- Follow your ambitions through professional development opportunities and performance management.
- Choose from a comprehensive benefits package.
- Thrive with a company that supports work-life balance and personal fulfillment.
- Maintain personal well-being through our wellness program.
- Join us in living a culture of compliance to ensure that every corner of our organization understands and fulfills its legal and regulatory obligations.
- Contribute to a diverse and inclusive workplace with your unique talents and perspective.
- Employment with The Bancorp includes successfully passing a background check including credit, criminal, OFAC, education and past employment.
- The Bancorp is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, religion, color, national origin, sex, sexual orientation, gender identity, age, status as a protected veteran, among other things, or status as a qualified individual with disability.
The Bancorp is an Equal Opportunity Employer