Job Information
Cambridge Savings Bank Small Business Lending Underwriter in Waltham, Massachusetts
POSITION: Small Business Lending Underwriter
Summary:
At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations, having a strong commitment to diversity and inclusion, and fostering a highly collaborate and customer centric environment. The Small Business Lending Underwriter is directly responsible for implementing all components of the lending underwriting process. Performs all activities related to application processing, underwriting, approval document preparation and delivery. Assists in managing the small business loan portfolio to include knowledge of Small Business Loan Administration (SBA) loans. The Small Business Lending Underwriter contributes to the technical training of small business loan originators and participates in ongoing credit product management activities associated with the lending program.
Key Result Areas:
Serves as the primary point of contact for new small business credit requests. Ensures that a complete application is received for each request and works collaboratively with loan origination teams to ensure that all required documents are received promptly.
Completes the underwriting process by analyzing financial data related to loan requests, reviews loan documents to ensure accuracy and completeness, performs risk assessments on applicants based on various risk factors, and records loan denials and basis for declining requests.
Assists in managing the small business loan portfolio, maintains knowledge of all SBA program guidelines and works collaboratively with the Small Business Lending Manager. Ensures applicable full loan transaction compliance with the SBA, including gathering documentation as needed for audits.
Tracks secondary market saleable SBA loans, prepares bidding and participation documents, and coordinates trade confirmations and settlements with investors.
Maintains consistent communication with the origination team related to loan application status and next steps, and formally communicates loan decisions to loan officers, including adverse action notifications.
Facilitates approval document preparation and coordinates delivery with Credit Administration team and closing attorneys for loan closings.
Responsible for new application tracking and reporting and assists with additional portfolio management tasks as needed.
Establishes and maintains effective working relationships with all Bank departments and contributes to the effective team management of related bank initiatives, challenges and opportunities.
Perform additional duties as required.
Qualifications:
Bachelor’s Degree, preferably in Finance, Business, or Accounting, or 5 years of Commercial Lending experience.
2 years’ experience in Commercial/Business Lending and Small Business Administration (SBA)
Advanced knowledge in U.S. SBA rules and guidelines, and Secondary Market sales, USDA preferred.
Knowledge of Excel and Word, as well as ability to learn and adapt to internal bank systems.
Strong attention to detail and analytical skills.
Strong interpersonal and communication skills.
Effective project and time management skills, with ability to multi-task.
The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities the inclusion of which would be in conformity with the major purpose of this job.
Location:
Hybrid/Waltham, Massachusetts
About Cambridge Savings Bank:
Cambridge Savings Bank is a full-service banking institution with over $6 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. In March 2023, Kroll Bond Rating Agency affirmed CSB’s investment-grade rating, reinforcing the bank’s position as a reliable business lender. To learn more about how CSB can meet your needs, visit us at cambridgesavings.com , or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370
Cambridge Savings Bank is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability status, protected veteran status, or any other characteristic protected by law. We are a VEVRAA Federal Contractor.
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