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Small Business Underwriter

Employer
Alerus Financial
Location
Grand Forks, North Dakota
Salary
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Industry
Financial Services and Banking
Role
Other
Job Type
Long-Term
Hours
Full Time
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Job Details

Position Summary:
This Small Business Underwriter is accountable for managing a portfolio of small business loans and indirect leasing relationships ranging in loan relationships up to $1,000,000. Primary responsibilities include reviewing new credit applications, proposing and negotiating lending solutions, underwriting credit risk through a credit scoring model, granting credit approval within prescribed level of loan authority, and servicing booked loans. Contributes to effective risk management and ongoing monitoring of client-supplied information and collateral administration.

Essential Responsibilities
Job Function 1: Underwrite Small Business Loans - 75%
  • Propose and negotiate small business loan product solutions, underwrite and decision applications. Communicate underwriting results with sales staff and client.
  • Receive and review all new small business loan applications from sales staff and indirect leasing companies.
  • Determine completeness of information provided to meet the requirements. Work with sales team to effectively gather complete application details.
  • Determine appropriate loan product to meet client needs. Identify potential new lending opportunities and suggest solutions to sales team.
  • Input financial statements and credit application into small business risk model system and process for approval or decline recommendation.
  • Underwrite and decision applications with use of credit scoring model.
  • Communicate pricing options that achieve or surpass targets.
  • Negotiate terms and conditions of credit requests.
  • Assess collateral value and collateral quality.
  • Process all assigned borrower and collateral subject-to-conditions for Underwriting role and communicate when complete and ready to close from an underwriting perspective.

Job Function 2: Credit Administration - 20%
  • Monitor loan for payment performance and conduct ongoing account monitoring.
  • Work with advisors to manage notes maturing reports, past due reports and cure ticklers.
  • Escalate high risk non-performing loans to special credit service's attention.
  • Accurately identify and assign risk ratings.
  • Conduct annual credit reviews of larger sized term loans in the small business portfolio.
  • Approve servicing actions, extensions, renewals and modifications.

Job Function 3: Product and Price Feedback - 5%
  • Seek to understand competitive pressures in local marketplace for small business loan product or pricing opportunities.
  • Work with team members to determine any necessary product improvements or enhancements to increase product sale-ability or process efficiencies.

Position Requirements:
Qualifications:
  • Bachelor's degree in business or related field or equivalent experience.
  • Five or more years lending and loan documentation experience.
  • Demonstrated negotiation experience.
  • Experience successfully building & managing client relationships.
  • Proven time management abilities.
  • Ability to work under pressure.

Personal Characteristics:
  • Strong written and oral communication skills.
  • Strong negotiation and interpersonal relationship skills.
  • Self-starter with established ability to work effectively with minimal day-to-day supervision.
  • Principled.
  • Self-assured.
  • Good analytical skills.
  • Team player.

Physical Demands - Must be met with or without a reasonable accommodation:
  • Extended periods of time sitting at a desk and using office equipment.
  • Ability to operate a personal computer/laptop for approximately 8 hours per day.
  • Extended time is spent reviewing physical and electronic documents.
  • The employee is occasionally required to stand, walk, reach with arms and hands, climb or balance, and to stoop, kneel, crouch or crawl. Vision abilities required by this job include close vision.
  • Periodically, may also do light lifting of supplies and materials which weighs in at approximately 20 lbs.
  • Will spend most of time in an indoor environment.

Alerus Financial is an Equal Opportunity Employer of women, minorities, protected veterans and individuals with disabilities.

Company

Alerus is a company that will challenge you to be at your best and where your efforts have real, tangible effects. Our culture is one of collaboration, innovation, forward-thinking, and giving back. And, as a growing company with a presence in markets from New Hampshire to Arizona, we offer a broad range of opportunities for you to travel the career path that matches your abilities, interests, and goals.

What is the current company culture like?

While our footprint spans North Dakota, Minnesota, Arizona, New Hampshire, and Michigan, we still operate like a small company. In other words, every single person on our team matters. Our employees create our culture.

What skills, education, and experiences does your ideal candidate(s) have? Each position has their own specific requirements and qualifications. In addition to those, Alerus seeks people who live out our fundamental beliefs every day: do the right thing, cherish people, empower with knowledge, respect everyone, serve with passion, and embrace change.

How would you describe the company leadership/team management? Alerus has a diverse executive and leadership team. Each leader comes with a wealth of experience and knowledge within their field to help their teams succeed. Alerus leaders, including our C*Suite executives, maintain regular communication with employees on company updates and goals.

Where do you see the company/organization in the upcoming years? Alerus has bank and office locations in North Dakota, Minnesota, Michigan, New Hampshire and Arizona. While we continue to serve our clients in these states we also look to grow our national footprint to best serve clients wherever they may live.

What do you feel candidates need to know about the company before applying? Alerus is more than just a bank and offers many products for our clients including personal & business banking, mortgages, wealth management and retirement savings. We continue to grow and expand but still maintain and operate with a small business feel. We would not have continued success without our employees and all the hard work they do to serve our clients with passion.

See the current Alerus job openings below!

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