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Senior Manager - Small Business Underwriter III
Job Opportunity at
Posted on May 3
Our Client is unique in that are still led by their Founder, and are guided by their values of Excellence and Do the Right Thing. Their much more than a credit card company! While Card is their no. 1 revenue generator, with Auto Finance coming in at no. 2, they have a diverse portfolio of products and services, also including Small Business, Commercial, Retail and 401k. This company is known for its culture (work hard, play hard), corporate citizenship, and diversity and inclusion initiatives. Our Client has a people-centric culture in that it likes to give it's associates conveniences (work perks), and access to many resources and outlets for development, growth and training. Our Client is a place where you can effectively influence your team, company and culture; have your voice heard; and receive visibility to and from leadership. Not to mention that their Plano campus is really cool, and has a lot of great amenities.
The Position: Senior Manager – Small Business Underwriter III
Our Client is looking for driven individuals that combine great credit discipline with balanced decision making and customer focus to join their Small Business Lending team as a Small Business Underwriter. The SB Underwriter III role:
underwrites and recommends small business loan requests with Maximum Potential Exposure of up to $5 Million (new loan requests or renewals)
maintains up to $1,000,000 individual commercial loan authority for secured and unsecured loans
oversees the work of a team of Small Business Underwriters I and II, providing feedback regarding the quality and completeness of credit approval memos
ensures the team provides outstanding service to business bankers and branch managers, as well as an overall great customer service working with Business Loan advocates responsible for the end to end loan process
serves as thought leader in helping define and pursue the SB Lending agenda with special projects, and help drive the department’s underwriting training
About Small Business Lending:
Our Client believes Small Businesses are the heart and soul of what drives our communities and economy forward with their passion and dedication to their work and customers. Beyond their customers, they are our family, friends and neighbors. At our Client’s Small Business Bank group, they are passionate about reinventing the way Small Businesses successfully manage their money, engage with their bank, and build meaningful financial lives. It’s audacious work at a massive scale. Their group is relatively new to Capital One and they don’t shy away from challenging the status quo. Their inspiration is their small business customer — their ingenuity, scrappiness and relentless optimism for the future.
Small Business Lending is a very dynamic space. They serve borrowing needs of businesses of various sizes from relatively small businesses owned by sole proprietors, to large corporations. This requires varying levels of sophistication in underwriting to ensure effective risk management with reasonable costs in proportion to loan size. They are competing for business with both established banks, as well as new fin tech entrants that’s shifting customer experience expectations. They are completely revamping their lending technology platform and loan production processes with customer focus and agile in mind, so we catapult the business forward in ways we can win with our customers.
They need underwriters that not only bring solid commercial underwriting experience to continue to push the underwriting team’s capabilities and high rigor in credit risk management; but also are innovative and adaptive to the needs of this dynamic space.
Underwrites and approves, conditions, or declines new loan requests and renewals up to the limit of his/her commercial loan authority in accordance with our Client’s loan policy and portfolio performance objectives. Maintains up to $1,000,000 in commercial loan authority for secured and unsecured loans.
Underwrites and then recommends approval on loan requests that are in excess of his/her commercial loan authority. These requests are submitted to either an Underwriting Manager or Credit Officer for final approval.
May oversee Small Business Lenders I and II with feedback regarding the quality and completeness of credit approval memos, loan structure, policy knowledge, and credit scoring; and act as back up for Underwriting Managers
Provides – and ensures his/her assigned group of underwriters provide – outstanding service to business bankers and branch managers. Works with Small Business Bankers in structuring loan requests in a manner which will best mitigate lending risks while meeting borrower needs.
Delivers – and ensures his/her assigned group of underwriters deliver – a great overall customer experience working closely with the Business Loan Advocates that are accountable of the end to end loan process from application to funding.
Ensures appropriate application of all bank and line of business policies and procedures; supporting and driving adherence to regulatory compliance requirements.
Serves as thought leader in identifying and delivering improvements in our Small Business policy, underwriting, and/or risk management, driving special project work as appropriate.
Helps drive department’s underwriting training.
Bachelor's Degree or Military Experience
At least 5 years of experience in credit administration, loan underwriting, or commercial lending
Completion of a formal credit training or equivalent work experience
MUST BE A US CITIZEN OR PERMANENT US RESIDENT
Small Business Lending
An ideal candidate will:
Have 10-15 years of traditional commercial/small business underwriting and credit analysis experience (CRE, C&I, OORE, Government & Agriculture).
Have core experience from small business and commercial, not siloed to a specific industry (i.e. auto, consumer or energy).
Have single signing authority experience ($250k - 1 mil)
Be a culture fit; someone who's intrinsically motivated through finding joy in the work they do, someone who values purpose in their role--feels like they're contributing to the company mission; and is excited about the potential of their role and with the company. Someone who has long term goals for themselves.
Be someone who wants to see small business owners succeed!
Be excited about our Client and the culture (work perks).
Leadership qualities or experience, and find passion in training, coaching and developing junior staff.
Be able to answer questions and define basic accounting principles (i.e. What are the key differences between cash and accrual accounting?)
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