SENIOR SMALL BUSINESS LOAN UNDERWRITER - Asian Americans for Equality

Who We Are:

Renaissance Economic Development Corporation (REDC) is a 501(c)(3) nonprofit organization whose mission is to build-up low-to-moderate income and immigrant communities in New York City by providing low-interest small business loans along with training and counseling services. REDC is an affiliate of Asian Americans for Equality, one of the country’s leading community development nonprofits. As an organization deeply rooted in the communities it serves, REDC works hand-in-hand with local business owners to ensure their long-term success. Renaissance also provides financial literacy services and comprehensive technical assistance to small business owners and entrepreneurs each year through individual counseling and classroom sessions.

We are US Treasury certified Community Development Financial Institution (CDFI), Small Business Administration (SBA) Intermediary Microlender, and SBA Community Advantage (7a) lender. Renaissance’s lending activities are guided by a commitment to increase business opportunities for low-income, minority, women, and immigrant entrepreneurs. 

Position Summary: 

This position requires a high level of technical expertise in due diligence, sound judgement and attention to detail with the ability to analyze complex information to assess credit risk, create appropriate loan structure and ensure compliance with Renaissance Loan Policy and Procedures in an effort to mitigate loss, delinquency and overall risk.

Key Duties and Responsibilities:

• Underwrite loans in accordance with Renaissance Loan Policy and Procedures. 
• Manage and oversee the loan process from application to closing ensuring the relevance of the loan documentation provided during the loan application, the soundness of the loan decision through the preparation of financial spreads and credit memorandum and the accuracy of the legal documentation at closing.  
• Evaluate application data including financial statements, bank statements, tax returns and business and personal credit reports.
• Assess credit worthiness and structure loans within established guidelines and expectations.
• Ability to work well under pressure and on deadlines, and adapt to changing situations on a daily basis.
• Function independently and as a team player that collaborates with others and maintains a positive and proactive attitude.
• Ability to use creative thinking to find solutions to problems.
• Participate in outreach and marketing of Renaissance products and services at different events.
• High level of integrity and trust.  Maintains the highest level of confidentiality with all information obtained. 
• Willingness to do more than basic job requirements as assigned.

Qualifications: 

• Bachelor's degree with a concentration in finance or accounting preferred.
• Small business and credit fundamentals knowledge/background is a plus
• Professional underwriting experience of 4 to 5 years is required
• Strong verbal, and written communication ability.
• Precise attention to details, excellent organizational, interpersonal and time management skills.
• Flexibility and adaptability in a fluid and rapidly changing environment.
• Hands-on experience interacting with low income individuals and diverse communities.
• Proficient computer skills using Microsoft Office, specifically MS Word and Excel, and Google Documents.
• Bilingual skills in Chinese, Korean or Spanish are highly desirable.

COMPENSATION: $60,000.00 - $70,000.00 annually

How we work:

We believe that the people and the communities that we have the privilege to serve, deserve our very best every day.  We are a results-driven organization that focuses on inclusiveness, empowerment and impact. AAFE and its affiliate employees are accountable, collaborative and strong communicators with a core strength of community service and development.  We are strategic thinkers who are committed to racial equality and treating each other, and the communities we serve, with respect and dignity.  We have an aptitude for technology and a strong desire to continuously learn. This philosophy expands to the way we manage our work and the way we put our best foot forward.  Expectations for all staff:  

• Support efforts that ensure a safe and healthy work environment.
• Understand and embrace the value in collaborating with people of different cultures, races, genders, ethnicities, beliefs, experiences and ideas.
• An understanding of the concepts of institutional and structural racism and bias and their impact on underserved and underrepresented communities.
• Maintain a positive, helpful attitude.
• Enjoy your time at work!

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