Underwriter, Business Banking Salary
An Underwriter, Business Banking earns an average salary of $60,350 per year. Most people move on to other jobs if they have more than 20 years' experience in this field. Pay for this job rises steadily for more experienced workers, but goes down noticeably for the few employees with more than 20 years' experience.
|Salary||$40,227 - $85,978|
|Bonus||$206.08 - $9,195|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$41,632 - $91,627|
Job Description for Underwriter, Business Banking
A business banking underwriter usually assists the commercial lending process. The underwriter will prepare financial statements related to the financial health of the potential borrower. This should include years of historical financial information, in order to show comparisons. Research is involved to create these spreadsheets, which include looking at past tax returns, credit history, balance sheets, income statements, cash flow statements, and other financial statements.Read More...
The underwriter should create forecasts and be able to offer explanations for them. The underwriter should explain whether or not the potential borrower will be able to make enough money to cover the loan payments or if a modification to the loan amount should be made. The underwriter will also research outside factors, such as industry data, studies related to the market, and information about the borrower’s competition. Often, the statements will be required to be detailed, but they should be able to be explained in simple terms. The underwriter should advise whether or not the loan proposal should be approved or what needs to be corrected to obtain a loan.
Usually, an underwriter works in a bank or office environment. Much of the work is done independently, so it is important to be able to adhere to time deadlines. Accuracy is also crucial in this job. Though the underwriter often does tasks alone, collaboration is also important to communicate with various parties involved in the loan process. A bachelor’s degree relating to the field is usually necessary. Many jobs require that the underwriter already have experience in a related position.
Underwriter, Business Banking Tasks
- Review, analyze, and conduct risk assessment of commercial properties, business entities, and clients' financial profiles.
- Assist loan officers with audits, credit examinations, and risk ratings and verify loan documentation accuracy.
- Assist in loan closing activities, identifying and recommending actions for clients to limit risk factors.
- Review appraisals, property inspections, and environmental reports to assess and identify property risk factors.
Underwriter, Commercial Real Estate Job Listings
Popular Skills for Underwriter, Business Banking
Pay by Experience Level for Underwriter, Business Banking
Pay by Experience for an Underwriter, Business Banking has a positive trend. An entry-level Underwriter, Business Banking with less than 5 years of experience can expect to earn an average total compensation of $57,000 based on 53 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Underwriter, Business Banking with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $71,000 based on 16 salaries. An experienced Underwriter, Business Banking which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $72,000 based on 13 salaries. An Underwriter, Business Banking with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $68,000 based on 5 salaries.
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