Sr Commercial Credit Underwriter

Sr Commercial Credit Underwriter

Location:

Bellingham, Washington, United States

First Fed is a community bank with 15 locations, 11 of which are full‑service branches in Western Washington. Our commitment to community service, recognition as a Best Workplace, and numerous regional awards reflect our strong culture and growth trajectory.

The Senior Commercial Credit Underwriter plays a key role in evaluating, approving, and monitoring commercial loan requests while supporting the sales team and ensuring compliance with First Federal Lending policies and regulatory guidelines.

The Commercial Underwriter underwrites commercial business and real estate loan requests. The underwriter analyzes financial information, borrower and guarantor history, tenant leases, property condition reports, appraisals, and market trends to recommend loan actions. The role also evaluates renewals, determines credit worthiness, grants risk grading, and collaborates with the sales staff to maximize cross‑sales opportunities.

• Perform credit analysis and underwrite commercial loan applications received by Relationship Managers, ensuring compliance with First Federal Lending policies and regulatory guidelines.
• Review and evaluate credit data, analyze annual financial data and other sources of financial information to determine profitability and qualification of loan.
• Calculate key financial ratios and assess borrower/project strength in accordance with commercial credit policies.
• Analyze loan collateral, including property condition reports and overall borrower strength, recommending additional collateral, guarantors, or underwriting enhancements as necessary.
• Recommend loan terms, covenants, and conditions for the Business Loan Agreement.
• Prepare loan presentation documents and credit memos to support recommendations and identify potential risks.
• Define loan documentation requirements, review existing documentation for validity, and ensure due diligence and background evaluations are complete before approval.
• Coordinate with Relationship Managers to ensure all required financial information is collected and prepared in proper format.
• Prepare narrative portions of credit memos and ensure all loan files presented to Loan Committee are properly reviewed, pre‑approved, and that all approval conditions are met.
• Review new loan documentation and existing commercial loan relationships to perform ongoing financial analysis and risk assessment.
• Maintain current organization of credit files, update with current financials, and ensure all supporting documentation complies with the Business Loan Agreement.
• Participate in Credit Committee and Special Assets Committee discussions, provide input on presentations, and support policy development.
• Perform annual risk assessments on existing credits in accordance with defined policy and schedule.
• Maintain current working knowledge of the commercial lending industry through independent research and training.
• Ensure compliance with BSA regulations and complete annual BSA training in a timely manner.

• Undergraduate degree in Finance, Business Administration, Accounting, or related field.
• 5+ years of relevant banking experience with demonstrated accounting and financial analysis skills.
• Knowledge of financial accounting theory, loan structuring, and commercial products and services.
• Proven ability to interpret analytical data and make credit recommendations to Senior Management or Risk Management.
• High level of accuracy, organization, and attention to detail.
• Excellent credit analysis, accounting, and mathematical skills.
• Ability to handle pressure, remain adaptable, and complete a high volume of work efficiently.
• Demonstrated ability to work independently and collaboratively with all levels of bank personnel.
• Strong verbal and written communication skills.
• Proficiency with Microsoft Office (Word, Excel) and familiarity with First Federal policies and systems.

The work requires the ability to operate office machines and equipment, such as personal computers, printers, copying machines, and telephones; to communicate clearly with customers, coworkers, and others in person and by telephone. Work activities involve combinations of sitting and standing for extended periods.

Target pay range: $80,200 – $ with incentive plan (Partnership Incentive plan) paid quarterly. Additional benefits include medical, dental, vision insurance; paid time off; 401(k) with company match;
Employee Stock Ownership Plan; gym membership reimbursement; and further benefits.

First Fed is an Equal Opportunity Employer and welcomes applicants from all backgrounds. Qualified applicants will receive consideration without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.