Senior Underwriter, SBB

About Us

Live Oak Bank is a digital bank that serves small business owners across the country.  Our groundbreaking spin on service and technology has fueled our mission to be America’s Small Business Bank. Our products help customers buy, build, and expand their business, and our high-yield savings and CD products help them grow their hard-earned money.  At Live Oak, we never lose sight of the well-being of our people. We believe our employees are the heart of our company. Our commitment to our customers and culture is intertwined, and we seek those who embody and embrace what it takes to empower the American dream.

How This Role Impacts Live Oak and its People

The Underwriter analyzes deals to determine if they are prudent loans for the Bank and the borrower. The Senior Underwriter, SBB role impacts the Bank by fulfilling a critical part of the loan process to move deals from proposal to credit approval.

What You’ll Do at Live Oak

In accordance with established lending policies and procedures, an under the guidance of the Underwriting Manger, develops an understanding in examining, evaluating, and closing commercial extensions of credit, predominantly through SBA loan programs. May request specified information for loan application. Develops customer relationships through friendly, courteous and responsive service. Develops understanding of commercial lending and SBA Program rules and procedures. Promotes Bank’s services to current and potential customers.

How You’ll Do It           

• Works with an experienced Loan Officer to complete the underwriting of the application to include the analysis of applicants' financial status, credit, and property evaluation to determine if loan requests meet the bank's and SBA's lending criteria. Evaluates the sources of repayment on loan requests and does a competition analysis.

• Develops an understanding of bank policies and procedures as well as SBA standards and SOP's. Reviews the loans for SBA eligibility and verifies same.

• Completes the customer interview. Makes an assessment of the customer and resolves outstanding questions related to the transaction.

• Develops expertise in use of Bank loan systems. Ensures that all documents required for the credit approval of the loan transaction are uploaded to Sales Force.

• Responsible for preparing the Credit Memorandum detailing the loan request, completing personal and business financial analysis for credit worthiness, and complying with banking regulatory guidelines and SBA eligibility, as applicable.

• Submits the loan request to Credit Administration to secure approval for the transaction. Works closely and directly with the credit officer, answers questions about the loan and the customer which allows the credit officer to become comfortable with the request.

• Evaluates third party appraisal(s) on real estate, business valuation(s) and environmental assessment(s). Reviews documentation upon completion for compliance with loan conditions.

• Maintains a pipeline of 2-4 loans in Underwriting and achieves proficiency in complex loan products and verticals

• Responsible for industry and product-specific training in areas of expertise

• Assists management with loan reviews and training

• Works with the Closer throughout the loan process up though the loan funding, including but not limited to file clean up, review and approval of all Underwriting items, preparation of Change Memos, complying with all Prefunding file review items as needed to ensure a smooth and timely loan closing.

Required and Preferred Experience

• Minimum of a bachelor’s degree is required

• Minimum of 2 years of underwriting, credit analyst, or similar experience is required

• Formal SBA Credit training is preferred

Our Values

• Dedication: Possess a deep commitment to Live Oak Bank’s mission and core values, exemplified through a strong work ethic, adaptability and pride in your work.

• Ownership: Take initiative to deliver positive results by proactively and creatively solving problems, while maintaining a high degree of quality.

• Respect: Treat everyone wi.th courtesy, politeness, and kindness.

• Innovation: Embrace fresh ideas and fearlessly contribute new solutions to emerging or existing problems.

• Teamwork: Foster collaboration, accountability, and trust with others and understand that together, we do more

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