Small Business Administration - Underwriter
BMO U.S. · Seattle, WA
- On site
- Full-time
- $165,600 / year
- Seattle, WA
Job highlights
- Underwrite SBA loans, including 504 and 7(a) programs.
- Analyze credit and financial data for lending decisions.
- Negotiate loan terms and structure deals.
- Manage and monitor a loan portfolio.
- Develop business and client relationships.
About the role
Small Business Administration Underwriter
We are seeking a Small Business Administration (SBA) Underwriter with experience in SBA lending, including both 504 and 7(a) programs. The ideal candidate will be a collaborative team player with a thorough understanding of SBA Standard Operating Procedures (SOPs) and the ability to apply them effectively in underwriting decisions.
Analyzes credit information to support lending decisions and processes for new and existing Commercial banking loans and credit solutions in an assigned portfolio of clients. Makes credit decisions and recommendations in compliance with bank policies and procedures while maintaining an exceptional client service environment.
Negotiates loan structures and terms and conditions that align client requirements with the bank risk appetite and policies. Assesses client repayment capacity by utilizing financial models and analytical tools to recommend appropriate loan structures and collateral requirements. Signs off on new, renewal and extension loans within delegated authority. Monitors portfolio to identify deteriorating credit conditions and compliance, analyses metrics, and assesses broader industry trends to spot risks and opportunities. Evaluates portfolio performance and recommends capital allocation strategies that optimize returns with investment objectives. Leads proposal development and delivers presentations to capture new business and expand client relationships. Networks with industry contacts to gather competitive insights and best practices. Develops and executes business development plans focused on enhancing client relationships and growth opportunities within the portfolio. Builds and maintains client relationships to ensure long-term financial performance in collaboration with Relationship Manager and business partners. Structures and supports new, renewal and extension loans aligned with client needs and bank & risk policies. Conducts financial analysis and risk assessments of clients’ credit information, for an assigned portfolio, to provide insights and make informed decisions. Monitors the portfolio performance for assigned portfolio of Commercial Banking clients on an ongoing basis, taking corrective action when required. Minimizes BMO’s risk exposure by adhering to credit policies, regulatory standards, and operational guidelines.
Serves as a point of contact for service requests, ensuring expectations are consistently met or exceeded. Escalates issues when needed. Supports and implements initiatives to enhance service quality, acquire new business and expand client relationships. Identifies revenue and cross-selling opportunities to enhance portfolio growth. Identifies share of wallet opportunities. Leverages analysis tools to nurture and grow a portfolio that exceeds ROE thresholds and evaluates client returns on a proactive basis. Manages timely and accurate data entry into BMO's systems and leverages the data to support decision-making. Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus. Provides specialized consulting, analytical and technical support. Exercises judgment to identify, diagnose, and solve problems within given rules. Works independently and regularly handles non-routine situations. Broader work or accountabilities may be assigned as needed.
Qualifications:
- Preferred 5 – 7 years of relevant experience in credit or lending instruments or financial operations in a corporate or banking environment.
- If a Credit Qualifiable job, Credit Qualifications and associated credit knowledge and skills according to the credit portfolio requirements and qualification standards.
- Bachelor’s degree required; Business Administration, Finance and Accounting preferred. Any other related discipline or commensurate work experience considered.
- Deep knowledge and technical proficiency gained through extensive education and business experience.
Proficiency Levels:
- Foundational level of proficiency: Structuring Deals
- Advanced level of proficiency: Problem Solving, Collaboration, Detail-Oriented, Customer Service, Loan Structuring, Regulatory Compliance, Portfolio Management, Credit Risk Assessment, Banking Operations, Microsoft Office
- Expert level of proficiency: Financial analysis
Salary:
$88,800.00 - $165,600.00
Pay Type:
Salaried
The above represents BMO Financial Group’s pay range and type. Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position. BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards
About Us:
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world. As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset. To find out more visit us at https://jobs.bmo.com/us/en
BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.
BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.
Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.
Key skills/competency:
- SBA Lending
- Underwriting
- Credit Analysis
- Loan Structuring
- Portfolio Management
- Financial Analysis
- Risk Assessment
- Regulatory Compliance
- Commercial Banking
- Client Relationship Management
Skills & topics
- SBA Underwriter
- Small Business Administration
- Underwriting
- Credit Analysis
- Loan Structuring
- Portfolio Management
- Financial Analysis
- Risk Assessment
- Regulatory Compliance
- Commercial Banking
- Business Administration
- Finance
- Banking Operations
- 7(a) loans
- 504 loans
- Lending
- Credit
- Salaried
- BMO
How to get hired
- Tailor your resume: Highlight SBA lending, credit analysis, and portfolio management experience relevant to the Underwriter role.
- Craft a strong cover letter: Emphasize your understanding of SBA SOPs and your ability to collaborate within a team environment.
- Prepare for behavioral questions: Be ready to discuss your problem-solving, collaboration, and customer service skills with specific examples.
- Showcase financial acumen: Demonstrate your expert-level financial analysis and credit risk assessment capabilities during the interview process.
- Research BMO's culture: Understand their 'Boldly Grow the Good' purpose and how your values align with their mission.
Technical preparation
Behavioral questions
Frequently asked questions
- What specific SBA programs does the Small Business Administration Underwriter role focus on at BMO?
- The Small Business Administration Underwriter role at BMO focuses on both the 504 and 7(a) SBA lending programs, requiring a thorough understanding of their respective guidelines and procedures.
- What level of experience is typically expected for an SBA Underwriter at BMO?
- BMO generally prefers candidates with 5-7 years of relevant experience in credit, lending instruments, or financial operations within a corporate or banking environment for this SBA Underwriter position.
- What educational background is preferred for the Small Business Administration Underwriter role?
- A Bachelor's degree in Business Administration, Finance, or Accounting is preferred for the Small Business Administration Underwriter role at BMO. However, other related disciplines or commensurate work experience are also considered.
- How important is collaboration in the SBA Underwriter position at BMO?
- Collaboration is a key aspect of this role. The SBA Underwriter is expected to work effectively as a team player, particularly in conjunction with Relationship Managers and other business partners, to ensure client needs are met and bank policies are followed.
- What are the core responsibilities of a Small Business Administration Underwriter at BMO beyond just loan approval?
- Beyond underwriting, responsibilities include negotiating loan structures, monitoring portfolio performance, identifying risks and opportunities, developing business plans, nurturing client relationships, and ensuring accurate data entry for decision-making.
- Does BMO offer remote work options for their Underwriter positions?
- The job description does not explicitly state whether this specific Small Business Administration Underwriter role is remote, hybrid, or on-site. Based on typical banking operations, it is likely an on-site or hybrid position, but it's best to confirm during the application process.
- What does BMO's 'Boldly Grow the Good' purpose mean for employees?
- BMO's purpose, 'Boldly Grow the Good in business and life,' signifies a commitment to creating positive change for customers, communities, and employees. For staff, it means being valued, having growth opportunities, and contributing to meaningful impact from day one.
- How does BMO approach career development for its Small Business Administration Underwriters?
- BMO supports employee growth through in-depth training, coaching, manager support, and network-building opportunities. They aim to help employees gain valuable experience and broaden their skillsets to reach new milestones.