Underwriter

Location: Holladay, UT / Flexible

About Redemption Bank & This Role

Redemption Bank is experiencing an exciting period of rapid growth. We are currently hiring a Commercial Underwriter and Portfolio Manager in anticipation of increased transaction volumes to ensure our team stays in line with our growing loan pipeline.

In this role, you will report directly to the Chief Credit Officer (CCO). Our credit loan team and the CCO report directly to our CEO, both industry veterans who bring deep, hands-on expertise in lending. This intentional, experienced leadership structure ensures that our lending operations are guided by executives who truly understand the nuances and importance of your day-to-day work.

Your Impact & Responsibilities

We believe in focusing on the impact you will make and the outcomes you will drive, rather than just a list of daily tasks. As our Commercial Underwriter and Portfolio Manager, you will:

• Analyze & Evaluate: Source, compile, and interpret financial data for the preparation of credit packages. You will spread financial statements, analyze cash flow projections, and assess the value of related collateral, appraisals, and audits to determine creditworthiness.
• Make Recommendations: Prepare thorough, clearly articulated credit presentations and memos to recommend loan approvals, structure loans, or note exceptions based on your findings.
• Manage Risk: Independently monitor the credit quality of the portfolio to ensure proactive and timely risk mitigation. You will assign or validate risk ratings and monitor delinquency, changes to collateral values, concentrations, and other key risk indicators. You will also identify key risks and mitigating factors, ensuring all credit requests are processed in accordance with internal policies, banking regulations, and fair lending laws.
• Collaborate: Work closely with Business Development Officers, the CCO, and other internal stakeholders on complex aspects of loan structuring, responding promptly to customer inquiries and helping the team determine the best needs for new requests.

Requirements & Qualifications

To ensure we cast a wide net for top talent while maintaining our high standards, we separate our must-have requirements from our nice-to-have skills.

Minimum Qualifications (Must-Haves)

• Experience: You must have proven, direct commercial underwriting experience to be considered for this role.
• Education: A bachelor’s degree in finance, business, accounting, economics, or a related field; or an equivalent combination of education and relevant professional working experience.
• Technical Skills: A solid understanding of underwriting concepts, business cash flow, debt service coverage, collateral valuation, and balance sheets.
• Communication: Strong business writing, presentation, and collaboration skills to effectively translate complex financial data into actionable recommendations for the CCO and other stakeholders. Must be able to pitch deals to the loan committee, answer questions, and defend recommendations.

Preferred Qualifications (Nice-to-Haves)

While not strictly required, candidates with the following specific backgrounds will stand out:

• Specific underwriting experience in Commercial Lending , including Commercial and Industrial, Commercial Real Estate, SBA, and Equipment Finance.
• Experience underwriting Small Business Administration (SBA) loans, including a strong understanding of SBA Standard Operating Procedures (SOPs) for origination, servicing, and liquidation.

Compensation & Inclusive Benefits

• Salary Range: Begins at $80,000, and will be commensurate with experience.
• Comprehensive benefits package designed to support your health and work-life balance.