Associate, Underwriter

Ready Capital offers a positive and diverse work culture incorporated with people who are passionate about their careers. We pride ourselves in being viewed as a premier place to work and encourage you to view our Senior Associate, Accountant opportunity.

Summary of

Essential Job Functions:

• Promote a favorable image of Ready Cap to potential and existing clients and referral agents.
• Credit Underwriter has the flexibility to underwrite each credit application and evaluate the unique facts and circumstances of the individual application. Each application warrants individual evaluation and judgment.
• Expected to offset the advantages and disadvantages, shore up weakness, expound on strengths, and in the end make a reasonable and informed credit recommendation (as the credit analysis for commercial lending does not lend itself to credit score or pure ratio analysis).
• Contribute to efficient loan processing and closing by maintaining a thorough understanding of Ready Cap’s guidelines and procedures, compliance requirements, SBA regulations, and various federal and state laws and regulations.
• Promptly report to the Credit Team Lead, Credit Manager or Chief Credit Officer any adverse events or information that would have a material effect on the lending operation or any event or situation that could be a conflict of interest.
• Contribute to loan decision making process and maintenance of portfolio credit quality by providing in-depth credit analysis of loan applications. Prepare a Credit Approval Memo to recommend a loan request that presents the following information:
• Loan is of required quality and no violation of guidelines or regulatory requirements exist. If an exception to guidelines exists, it is fully disclosed and justified.
• Borrower has been interviewed and creditworthiness has been thoroughly investigated.
• Adequate financial statements and other pertinent information have been reviewed and analyzed, along with current economic conditions that affect the transaction.
• Loan is properly priced based upon the Pricing Matrix.
• Loan will be properly documented in full compliance with the approved credit request.
• Value and existence of collateral is verified.
• Correct risk rating is assigned to the credit.

Primary Success Measurements:

• Quality of analysis as measured by first payment defaults and defaults within 24 months.
• Number of loan application decisions reached per month.
• Velocity of completed tasks as measured by service delivery times and deadlines.
• Communicate timely and effectively with potential borrowers, referral sources, and other Ready Cap employees in the Origination Team.

Supervisory Responsibilities:None.

Qualifications:

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and/or

Experience:

• Bachelor degree (preferably in Finance, Real Estate, Accounting, or Business Administration) and minimum of 3 years of experience in Commercial Lending (C&I and Owner Occupied Real Estate Lending) and/or SBA Lending.
• Sound financial analysis skills.

Language

Skills:

• Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals.
• Ability to write routine reports and correspondence.
• Ability to speak effectively before groups of customers or employees of an organization.
• Diplomacy in dealing with associates.

Mathematical

Skills:

• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
• Ability to apply concepts of basic algebra and geometry.

Reasoning Ability:

• Ability to apply common sense understanding to carry out instructions furnished in written, oral, or diagram form.
• Ability to deal with problems involving several concrete variables in standardized situations.

Computer

Skills:

• To perform this job successfully, an individual should have knowledge of Internet software and Microsoft Office software including Excel,…