Associate Underwriter, SBB

About the Role

The Associate Underwriter, SBB analyzes deals to determine if they are prudent loans for the Bank and the borrower. This role is critical in moving deals from proposal to credit approval. Under the guidance of the Underwriting Team Manager, the Associate Underwriter develops an understanding of examining, evaluating, and closing commercial extensions of credit, in accordance with established lending policies and procedures.

Key Responsibilities

• Works with an experienced Loan Officer to complete the underwriting of the application, including analysis of applicants' financial status, credit, and property evaluation to determine if loan requests meet the bank's and SBA’s lending criteria.
• Evaluates sources of repayment on loan requests and conducts a competition analysis.
• Develops an understanding of bank policies and procedures as well as SBA standards and SOP's; reviews loans for SBA eligibility and verifies same.
• Completes customer interviews and assesses the customer, resolving outstanding questions related to the transaction.
• Develops expertise in the use of Bank loan systems and ensures all documents required for credit approval are uploaded to the Bank’s Loan Origination System.
• Prepares the Credit Memorandum, detailing the loan request, completing personal and business financial analysis for credit worthiness, and complying with banking regulatory guidelines.
• Submits loan requests to Credit Administration for approval and works closely with the credit officer, answering questions about the loan and customer.
• Evaluates third-party appraisals on real estate, business valuations, and environmental assessments. Reviews completed documentation for compliance with loan conditions.
• Achieves Underwriter Certification, after which deals go directly to credit administration for review and decisioning.
• Once Certified, focuses on proving ability to maintain a full underwriter pipeline over multiple consecutive quarters.
• Becomes proficient in the Closing process, demonstrating proficiency in change memos, working with Closers, and navigating issues during the Closing stage.
• Maintains a high standard of regulatory awareness including BSA, AML, CIP, and OFAC.

Requirements & Tech Stack

• Bachelor's degree or equivalent experience.
• Experience in the use of Bank loan systems and Loan Origination System.

Qualifications

• Develops an understanding in examining, evaluating, and closing commercial extensions of credit.
• May request specified information for loan application.
• Develops customer relationships through friendly, courteous, and responsive service.
• Develops understanding of commercial lending policies and SBA Program rules and procedures.
• Promotes Bank’s services to current and potential customers.
• Possesses a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in work.
• Takes initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.
• Treats everyone with courtesy, politeness, and kindness.
• Embraces fresh ideas and fearlessly contributes new solutions to emerging or existing problems.
• Fosters collaboration, accountability, and trust with others.
• Banking experience (preferred).