Internal Ref: 5000214146106
The Commercial Underwriter is responsible for underwriting and documentation of basic and less complex loan requests for assigned Lines of Business (LOBs) as well as owning deal analyses and execution of workflows according to established Service Level Agreements (SLAs), also responsible for assisting in the on-going monitoring of the credit exposure for assigned relationships, including renewals, reaffirmations and annual risk ratings.
The Commercial Underwriter reports to the Manager Commercial Underwriting (MCU).
Successful incumbents possess strong analytical, time management, verbal and written communication skills, are accountable and have strong data management capabilities.
1. Provide complete analysis of loan package for new deals, reviews and renewals
•Prepares and/or updates appropriate RECAP documentation with guidance from MCU (Manager Credit Underwriting).
•Prepares basic collateral charts, cash flows, risk ratings and other attachments.
•Provides basic industry analysis.
•Identifies policy exceptions and works with MCU/RM (Relationship Manager) to mitigate them.
•Identifies and analyzes inconsistencies and inaccuracies in customer data, including spreads, aging's, projections and other financial documents.
•Develops basic analytical narrative and commentary on the request.
•Evaluates strengths and weaknesses of the credit and escalates risks and other issues to MCU and/or RM or PM (Portfolio Manager).
•Assists RM/PM with contacting customers to obtain answers for loan analyses and recommend loan structures and covenants.
•Prepares risk rating with guidance from MCU.
•Monitors loan covenants and tracking on simple transactions in conjunction with CSC (Credit Support Center) support team for assigned relationships.
•Shares responsibility with Credit Specialists for performing OFAC checks and identifying issues.
•Investigates title searches, surveys and UCC (Uniform Commercial Code) searches as requested by MCU or RM/PM.
3. Process Sustainability
•Adheres to department procedures for workload management.
•Strives to meet or exceed SLA, or when not possible, communicate to MCU and RM/PM.
•Ensures appropriate RECAP formats/attachments are used in accordance with approved process & procedures.
•Other duties as assigned.
Travel is not required of this position.
Relocation is not available for this position.
•Bachelor's Degree in Business or Economics
•3.0 cumulative GPA
•Two (2) Accounting courses (minimum 6 units) with a 3.0 GPA average
•1 year Microsoft Office applications (Word, Excel, PowerPoint, Outlook)
411 West Lafayette Detroit, MI 48226
We know that our employees are critical to our overall success. We are dedicated to investing in their future to maintain long-term relationships for lasting commitments. One of the ways we do this is to offer a comprehensive package of compensation and benefits programs which are regularly reviewed to maintain them at competitive levels. Your salary will be commensurate with your work experience.
Upon offer, Comerica conducts a comprehensive background check, fingerprint check and a drug test.
NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned by the Business Bank, the Retail Bank, and Wealth Management. Comerica's more than 9,000 colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
Comerica is proud to be an Equal Opportunity Employer-Minority/Female/Disability/Veteran, committed to workplace diversity.