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Commercial Underwriting Officer, Middle Market & Business Banking, San Jose
at Comerica Bank
- Bachelor's Degree from an accredited university; 4 years of experience in commercial underwriting, credit and/or lending
- Completion of Credit College or other formal credit training
- 5 years of experience utilizing Microsoft Office Products including Word, Excel, PowerPoint, and Outlook
Commercial Underwriting Officer
The Commercial Underwriting Officer role will be responsible for the underwriting and documentation of larger and/or more complex loan requests for assigned Lines of Business (LOBs), underwriting a variety of loan types and structures and may have expertise in one or more LOBs, owns deal analyses and executes workflow according to established Service Level Agreements (SLAs). This role will also assist with the on-going monitoring of the credit exposure for assigned relationships, including renewals, reaffirmations and annual risk ratings.
Successful incumbents possess strong analytical, time management and verbal and written communication skills.
- Provides complete analysis of loan package for new deals, reviews and renewals.
- Independently prepares and/or updates appropriate RECAP documentation for large and/or complex requests.
- Prepares collateral charts, cash flows, risk ratings and other attachments.
- Provides detailed industry analysis and understand potential impacts on the client and credit request.
- Identifies policy exceptions and independently develop mitigates and structure modifications to address or eliminate them.
- Identifies and analyzes inconsistencies and inaccuracies in customer data, including spreads, aging's, projections and other financial documents.
- Ensures complete and thorough analytical narrative and commentary on the request and makes recommendations on structural enhancements to mitigate risk or help win business.
- Evaluates strengths and weaknesses within each credit and escalates risks and other issues to MCU and/or RM or PM (Portfolio Manager). Independently contacts customers to obtain answers for credit requests.
- Recommends appropriate controls and covenant structure for new credit requests. Recommends risk rating.
- Calculates loan covenants and assist with tracking on complex transactions in conjunction with CSC (Credit Support Center) team for assigned relationships.
- Follows-up with PM/RM on violations and provide recommendation for waiver, modification or cure.
- Shares responsibility with Credit Specialists for performing OFAC checks and identifying issues.
- Serves as mentor and assists with training more junior underwriters and rotating credit analysts.
- Investigates title searches, surveys and UCC (Uniform Commercial Code) searches as requested by MCU or RM/PM. Works with PM and loan closing team as requested to resolve issues.
- Adheres to department procedures for workload management. Strives to meet or exceed SLA, or when not possible, communicate to MCU and RM/PM.
- Ensures appropriate RECAP formats/attachments are used in accordance with approved process & procedures and assists MCU with reviewing RECAPs. Recommends process improvements in support if continuous improvement culture within Commercial Underwriting.
- Other duties as assigned.
The Commercial Underwriter Officer reports to the Manager Commercial Underwriting (MCU).
8:00am -5:00pm Monday-Friday
Comerica West Headquarters
We know that our employees are critical to our overall success. We are dedicated to investing in their future to maintain long-term relationships for lasting commitments. One of the ways we do this is to offer a comprehensive package of compensation and benefits programs which are regularly reviewed to maintain them at competitive levels. Your salary will be commensurate with your work experience.
Upon offer, Comerica conducts a comprehensive background check, fingerprint check and a drug test.
NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by the Business Bank, the Retail Bank, and Wealth Management. Comerica's more than 9,000 colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.