Commercial Loan Underwriter

Company Overview: Rainier Valley Community Development Fund is a mission-driven Community Development Financial Institution (CDFI) dedicated to fostering economic development and financial inclusion in underserved communities. We provide a range of financial products and services tailored to support small businesses, affordable housing projects, and community development initiatives.

Position Overview: As a CDFI Commercial Underwriter, you will play a critical role in assessing and evaluating loan applications from small businesses, developers, and nonprofit organizations seeking financing for projects that contribute to community revitalization and economic empowerment. You will work closely with our lending team to ensure that loan applications align with our mission and financial sustainability goals.

Key Responsibilities:

• Conduct thorough analysis and underwriting of commercial loan applications, including financial statements, credit reports, business plans, and project feasibility studies.
• Assess credit risk and determine the appropriate loan structure and terms based on borrower's financial health, collateral, and repayment capacity.
• Collaborate with loan officers and other key staff to collect necessary documentation and information from applicants.
• Prepare comprehensive credit memos and present findings to management, loan committee and the Board of Directors as needed for approval.
• Assist the Loan Portfolio Manager with ongoing credit evaluation in servicing, including spreading annual financials.
• Stay updated on industry trends, regulatory requirements, and best practices related to commercial underwriting and CDFI lending.
• Manage loan application software platform, evaluating new loan requests and keeping the database updated.
• Maintain, update and analyze impact metric data, creating new reports as needed to aid in satisfying grant reporting requirements.
• Working with the Portfolio Manager to maintain the Loan Loss Reserve report per CECL guidelines.
• Work with staff to update and revised RVCDF’s loan policy manual.
• Aid staff with CDFI reporting requirements as needed.

Qualifications:

• Bachelor’s degree in finance, accounting, economics, or a related field or extensive, related work experience.
• Minimum of 2 years of experience in commercial underwriting, preferably in a CDFI or community banking environment.
• Strong understanding of financial analysis, credit risk assessment, and loan structuring.
• Strong proficiency in Excel, basic understanding of Quickbooks or other accounting software is a plus.
• Excellent written and verbal communication skills, with the ability to articulate complex financial concepts clearly and concisely.
• Experience with Green Lending is preferred.
• Commitment to the mission and goals of community development and financial inclusion.
• Ability to work independently and as part of a collaborative team environment.
• Strong customer service skills and ability to communicate needs clearly.

Benefits:

• Competitive salary commensurate with experience.
• Comprehensive benefits package including health insurance, retirement plans, and paid time off.
• Opportunities for professional development and career advancement within a growing CDFI.

Application Instructions: To apply, please submit a resume and cover letter outlining your qualifications and interest in the CDFI Commercial Underwriter position at [Your Company Name]. We are committed to diversity and inclusion and encourage individuals from underrepresented backgrounds to apply.

Equal Opportunity Employer: [Your Company Name] is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, national origin, age, disability, or any other basis prohibited by law.

Job Type: Full-time

Pay: $80,000.00 - $100,000.00 per year

Benefits:

• Dental insurance
• Health insurance
• Paid time off
• Retirement plan
• Vision insurance

Physical Setting:

• Office

Schedule:

• Monday to Friday

Ability to Commute:

• Seattle, WA 98118 (Required)

Work Location: Hybrid remote in Seattle, WA 98118