Salem Five is a growing regional financial services organization with a rich history of over 160 years. As an independent bank, we are deeply rooted in the communities we serve and offer our employees successful and rewarding careers.

This position requires the ability to work in the Salem, MA offices.

The Junior Commercial Underwriter position offers an opportunity to start your career in Commercial Underwriting. The person in this role will receive a strong foundation through formal Credit Training, which is a key to success in a career in Commercial Underwriting and Lending. This role will be responsible for Commercial Loan underwriting and portfolio reporting.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following, however other duties may be assigned based on business need:

• Contributes to underwriting of facility reports/annual reviews across all commercial lending verticals (C&I, Construction, CRE) with primary area of focus being statement spreading, stating terms and conditions and detailing the transaction summary, in accordance with State Regulatory guidelines and Salem Five’s policies and procedures.

• Responsible for performing financial statement spreads within Baker Hill spreading software for all loan proposals.

• Assume ownership of department reporting assignments allocated by the Chief Credit Officer, to include; Loan Policy Exception Reporting, NAICS Reporting, Financial Tracking Reporting, Concentration of Credit Reporting, Annual Review Reporting, and other reports requested.

• Responsible for due-diligence reporting (Lexis Nexis / Experian Credit Reporting), for new and existing loan requests. Said due-diligence reporting will accompany each underwriting proposal as part of the approval process.

• Bachelor's degree (B.A. or B.S.) from four-year College or University with foundation in Accounting or Finance related major.
• Appropriate computer skills (including Word and EXCEL) are essential.

Competencies needed:

• Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to write reports, business correspondence, and procedure manuals. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the general public.
• Ability to Analyze financial statements (Balance Sheet, Income Statement, Statement of Cash Flows) as well as calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume.
• Ability to solve practical problems and deal with a variety of concrete variables in situations where only limited standardization exists. Ability to interpret a variety of instructions furnished in written, oral, diagram, or schedule form.

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)