Position Summary
The Commercial Underwriter provides accurate, timely, and succinct credit underwriting to support the company’s portfolio management and new business development efforts for the Relationship Managers they are assigned to support.Duties & ResponsibilitiesCommercial Underwriter Duties:
- Financial statement spreading and analysis, including calculation of Debt Service Coverage or Fixed Charge Coverage Ratios per Busey guidelines.
- Use financial data such as cash flow, liquidity, profitability, and leverage to determine and minimize the overall risk of extending credit to businesses and individuals.
- Work with Commercial Relationship Managers or other Lending staff to prepare clear and concise Commercial Credit Approval Request (CCAR) memos including pertinent information associated with the overall risk of the loan, identifying the strengths and weaknesses of the Borrower.
- Evaluate collateral, industry data and other relevant credit information.
- Assist with Portfolio Management duties to include testing financial covenants, monitoring monthly borrowing base reports, preparing portfolio reviews and sensitive asset reports, as assigned.
- Assist Commercial Relationship Managers with the preparation of opportunity memos for new and existing relationships.
- Maintain a working knowledge of the Commercial Banking Loan Policy and systems, including nCino.
- Assist in the sales process, including accompanying Relationship Managers on customer and prospect calls.
- Approve loans that are within defined authority levels; recommend loan approval outside of defined authority levels.
- Participate in pipeline meetings to develop knowledge of prospective opportunities as well as upcoming renewals.
- Assist with other duties or special projects as assigned.
- Commercial Underwriter II:
- Performs all outlined duties under minimal supervision
- Demonstrates independent thinking and handles complex issues
Knowledge of:
- Strong oral and written communication skills
- Proficiency in Microsoft Office
- Knowledge of financial accounting
Ability to:
- Multi-task and work independently
- Analyze and solve problems
- Take independent action within established guidelines and develop new procedures and approaches when needed
- Perform duties under frequent time pressures
Education and Training:
- Requires Bachelor’s degree with a concentration in Business or Finance.
- Requires 5 or more years of Commercial Credit experience.
- Requires 2 or more years of experience in the Commercial Underwriter role.
Compensation and Benefits
Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.
(Base Pay Range: $90,000 - $120,000 annually)
Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being—now and in the years to come—are important to us. Busey’s Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit Busey Total Rewards for more information.
Equal Opportunity
Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey’s commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey’s Equal Opportunity Employment.
Unsolicited Resumes
Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies ("Agency"), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings ("Agreement"). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.
Similar Jobs
What We Do
As of September 30, 2023, First Busey Corporation (Nasdaq: BUSE) was a $12.26 billion financial holding company headquartered in Champaign, Illinois. Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation, had total assets of $12.23 billion as of September 30, 2023, and is headquartered in Champaign, Illinois. Busey Bank currently has 46 banking centers serving Illinois, eight banking centers serving Missouri, three banking centers serving southwest Florida, and one banking center in Indianapolis, Indiana. Through Busey’s Wealth Management division, the Company provides asset management, investment, and fiduciary services to individuals, businesses, and foundations. Assets under care totaled $11.55 billion as of September 30, 2023. Busey Bank’s wholly-owned subsidiary, FirsTech, specializes in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. FirsTech provides comprehensive and innovative payment technology solutions including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. More information about FirsTech can be found at firstechpayments.com. Busey Bank is honored to be named among America’s Best Banks by Forbes magazine for the second consecutive year. Ranked 26th overall in 2023, compared to 52nd in last year's rankings. Busey was named among DiversityInc’s Top Regional Companies. The DiversityInc Top 50 survey is the external validator for large U.S. employers that model fairness in their talent strategy, workplace and supplier diversity practices, and philanthropic engagement. We are honored to be consistently recognized nationally and locally for our engaged culture of integrity and commitment to community development. For more information about us, visit busey.com.
