Director of SBA Underwriting

Salary:

iBusiness Funding is a Software and Service Provider that provides digital and automated loan origination and processing systems, in addition to Lending as a Service across a broad range of loan sizes. We are a subsidiary of Ready Capital Corporation, which is a multi-strategy lending institution with over 600 employees traded on the New York Stock Exchange under ticker RC.

Combining our software and services, we have funded over 130,000 loans totaling over $6 Billion.  We are one of the largest lending lead aggregators in the US with over 1,400 business lending applications per day in all 50 States.

Position Description:

 

We are looking for a Director of Underwriting to join our dynamic and growing team. You will be an integral part of our Government Guaranteed Lending leadership team. This role will be strategic in nature and will be focused on continuous process and procedural improvement. You will work cross-functionally with other teams to help manage, build, and scale our lending processes, as well as data analytics strategy to support our growing product portfolio, with a current focus on SBA and USDA product lines and expanding.

 

As a senior member of the team, you will assist in ensuring the accuracy of credit decisions, compliance with SBA SOP and providing training & feedback to the underwriting team in order to continuously scale their skillsets and grow the careers of the entire underwriting team. This role will have the highest-level credit authority.

 

**For out of state applicants, this job may be performed remotely from your home**

 

Essential Duties and Responsibilities:

 

• Review assigned SBA application processes and continually enhance for efficiency as well as credit and SOP compliance
• Constantly analyze the existing portfolio with reporting on various key performic metrics
• Review all slow paying loans to do a full postmortem and take insights to improve the frontend
• Constantly evaluate loan intake and underwriting process to ensure desired portfolio default and performance metrics are achieved
• Apply knowledge of SBA Standard Operating Procedures (SOP) to evaluate loan applications/credit memos processes to ensure accuracy, completeness, speed and eligibility.
• Review all relevant data sources including credit, financial, industry and market data when the teams are reviewing applications/ credit memos evaluate current sources and add and improve sources as needed
• Engage in discussions with BDA/BDOs, the Closing team, Legal, and Credit Leadership as needed to facilitate cross departmental collaboration
• Ensure adoption of the technology platform, LenderAI, for every aspect of the underwriting process
• Suggest and collect feedback from the underwriting teams to bring new enhancements to the technology platform and underwriting processes to further facilitate and augment the underwriting process
• Further develop and monitor fraud prevention policies and procedures

 

• Identify gaps/areas of improvement and collaborate cross-functionally to improve and grow the product.
• Provide training and feedback, as necessary.

 

Qualifications for Success:

 

• Bachelor's degree in accounting, finance, or related field
• Seven (7) or more years in commercial loan underwriting & financial analysis, at least five (5) of which have been in SBA space
• Experience in USDA is a major plus
• Experience managing a team, working with the Executive team, and growing/building a loan program.
• Must be process oriented
• Ability to prioritize and operate with a sense of urgency and foster that urgency to others
• Strong verbal and written communication skills
• Organized, detail-oriented, and able to multi-task
• Ability to work collaboratively with multiple stakeholders.
• Strong analytical skills
• Data modeling experience is a plus

 

Physical Demands:

 

The physical demands of the position are typical of those found in a traditional office environment. Employees will not need to walk significant distances nor lift substantial weight. Employee will need to be able to remain seated at a desk for 8-9 hours in a typical workday.

 

Conclusion:

 

This job description is intended to convey information essential to understanding the scope of the job and the general nature and level of work performed by job holders within this job. This job description is not intended to be an exhaustive list of qualifications, skills, efforts, duties, responsibilities or working conditions associated with the position.

 

The company is an equal opportunity employer and will consider all applications without regard to race, sex, age, color, religion, national origin, veteran status, disability, genetic information or any other characteristic protected by law.

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