Sr Commercial Credit Underwriter

Who We Are

First Fed is a local community bank on an exciting growth trajectory with 17 locations, including 12 full‑service branches in Western Washington. First Fed was recognized by the Puget Sound Business Journal as a Best Workplace and a Top Corporate Philanthropist. By popular vote we received awards for Best Bank in The Best of the Northwest, Best Banker in Readers’ Choice by Cascadia Daily News, and Peninsula Daily News named us Best Bank on the Olympic Peninsula.

We also received a Best‑In‑State bank award from Forbes. For over 100 years we have served our customers and communities throughout the PNW, donating over $9 million to non‑profit organizations in the past 8 years and accumulating more than 25,000 volunteer hours in the last 5 years through three paid volunteer days per employee. We welcome applicants from all backgrounds‑our diversity makes us stronger.

The Commercial Underwriter reviews and approves commercial business and real‑estate loan requests. The role analyzes financial information, borrower and guarantor credit history, tenant leases, property condition reports, appraisals, market trends, and conditions to recommend loan actions, prepare loans for legal documentation, monitor the closing process, and ensure timely renewals and report compliance with First Federal policies and regulatory guidelines.

• Perform credit analysis and underwrite commercial loan applications received by Relationship Managers to determine eligibility, ensuring compliance with lending policies and regulatory guidelines.
• Review and evaluate credit data, analyze annual financial data to determine profitability and qualification. Using approved formats perform:
  • Key ratios to determine borrower/project strength and compliance with credit policies.
  • Collateral analysis including property condition reports and overall borrower strength; recommend additional collateral, guarantors, or alternative loan terms as needed.
  • Determine the terms, conditions, and covenants of the Business Loan Agreement.
  • Prepare the loan presentation document, supporting the loan request, determining credit quality for grading, making recommendations, and identifying potential risks. Discuss any adverse credit issues with the Credit Administrator.
  • Define loan documentation requirements; review existing loan documentation for validity.
  • Ensure all due diligence and background evaluation is complete before credit approval is granted.
  • Coordinate with Relationship Managers to prepare the narrative portion of the Credit Memo.
  • Ensure that all loan files presented to the Loan Committee are properly reviewed and pre‑approved prior to presentation.
  • Verify that all conditions of approval are met and approve or decline any exceptions before signing/closing.
  • Review new loan documentation before signing/closing for accuracy and validity.
• Perform credit analysis and underwrite existing commercial loan relationships, including:
  • Financial analysis of existing borrowers, reviewing cash flow, tax returns, ratio analysis, profit and loss, and balance sheets.
  • Assessment of collateral value and credit support; define perfection requirements.
  • Define appropriate structure and pricing for requested transactions or relationships, including workouts and troubled debt restructures.
  • Maintain and update existing credit files with current financials and documentation.
  • Participate in Credit Committee discussions of presentations as requested.
  • Participate in the Special Assets Committee for Commercial Loans.
• Coordinate with the Relationship Manager and/or support staff to ensure required financial information is collected in proper format.
• Prepare Risk Rating Worksheets accurately and timely.
• Review all property inspections prepared by Relationship Managers.
• Perform annual risk assessments on existing credits, following policy and schedule, including:
  • Obtain current financial information from the account’s Relationship Manager.
  • Document analysis results, highlighting concerns for discussion with Credit Administrator, Chief Credit Officer, and Relationship Manager.
  • Prepare final risk rating document, including the risk grade to be assigned.
• Maintain…