Carolina Small Business Development Fund - Raleigh, NC
Underwriting Director - (Hybrid Role) - EXEMPT Status
Who we are: Carolina Small Business Development Fund (CSBDF) is a nonprofit and certified community development financial institution (CDFI). We are passionate and committed to providing support to small businesses across the state. Our Mission is to foster economic development in underserved communities by providing capital, business services, and policy research to support small businesses. CSBDF provides assistance to small businesses in four major ways: as a partner, as a trusted guide, as an advocate for small businesses, and as an accessible funding source. Our work supports our vision to create economic opportunity for all people.
Nature of Work: The Underwriting Director manages underwriting staff, key credit department functions including loan underwriting, analysis and approvals; and loan servicing and processing.The Director underwrites loanapplicationsandmanages theoverallcreditoperationsinaccordancewith CarolinaSmall Business Development Fund (CSBDF) policies and procedures to ensure and maintaingood quality credit. Thepositionisresponsibleformanaging theunderwritingofeligibleloansunder thevariousloanguaranty programs including the SBA Community Advantage Pilot Program, Charlotte Community Capital Program, USDA Business and Industry Program, and US DOT Short Term Lending Program. This position is housed within the Credit Department but supports the work of both the Credit and Business Solutions Teams within the organization.
Supervision Received/Exercised: Works under the general supervisionof the VP,Chief Credit Officer and is the direct supervisor of the credit underwriting team.
EssentialJobFunctions:The followingdutiesARENOTintendedtoserveasacomprehensivelistofalldutiesperformedbyall employees in this classification.Shown are duties intended to provide a representative summary of the major duties and responsibilities.Incumbent(s) may not be required toperformalldutieslisted and may be toperformadditional,position- specificduties.
Credit Analysis & Underwriting:
- Provide independent, in-depth analysis of financial statements, projections, business plans, and collateral to identify risks, mitigants, and appropriate loan structures.
- Prepare credit memoranda and present recommendations in line with CSBDF approval authorities and program guidelines.
- Serve as SME for various loan capital and guaranty programs available to CSBDF (e.g., SBA 7(a), SSBCI capital program) to ensure compliant underwriting and eligibility across programs.
- Maintain current and up-to-date knowledge of lending policies, program rules, regulatory guidance, industry trends, and best practices.
- Manage issuance of loan commitment letters.
Workflow, Quality, and Portfolio Risk:
- Collaborate with CSBDF Directors (i.e., Business Solutions Director; Loan Operations Director; Loan Portfolio Director) to coordinate application intake, pipeline assignment, and workload balancing to meet expected procedural and cycle-time targets.
- Identify and implement process improvements (including automation opportunities) to streamline underwriting activities and reduce cycle times.
- Ensure direct reports adhere to established policies, procedures, and documentation standards while encouraging continuous improvement.
- Track and report production, approval rates, exceptions, and cycle-time target adherence; recommend actions based on trends.
- Collaborate with Loan Portfolio Director to monitor portfolio performance (e.g., delinquencies, charge-offs, concentrations); recommend risk mitigation strategies and structural credit facility enhancements.
- Support periodic audits, file reviews, and compliance reviews; contribute to policy updates and controls.
- Ensure accurate and timely reporting and other required submissions for various loan capital and guaranty programs available to CSBDF (e.g., SBA 7(a), SSBCI capital program).
Leadership and Team Development:
- Mentor, coach, and develop analysts/underwriters; conduct periodic performance reviews and individualized development plans.
- Promote consistency in analysis, credit memoranda quality, and credit decisioning across the team.
Stakeholder and Community Engagement:
- Collaborate with other internal team members to deliver cohesive borrower experience.
- Represent CSBDF at community events, partner forums, and stakeholder meetings as needed; communicate program capabilities and credit perspectives.
- Perform other duties as assigned.
Qualifications:
- Must be a resident of North Carolina
Education and Experience:
- Bachelor’s degree in Finance, Accounting, Economics, or other related field (or equivalent experience).
- 6+ years in commercial/small business underwriting, with at least 3 years in a leadership/supervisory role. Direct experience with CDFI-specific lending or microlending is strongly preferred.
Knowledge:
- Strong understanding of accounting principles, credit analysis, and commercial underwriting, including financial statement review, asset valuation, and cash flow analysis.
- Expertise in Global Cash Flow analysis and character-based credit assessment for early-stage or underserved entrepreneurs.
- Hands-on experience preparing credit memoranda for loan committees.
- Thorough knowledge and understanding of commercial loan documentation and business entity structures.
- Understanding of regulatory requirements governing lending activities.
- Familiarity with U.S. Small Business Administration (SBA) 7(a) loan requirements and related compliance standards is strongly preferred.
- Working knowledge of loan origination and portfolio management systems; experience with Salesforce and CDFI-specific software is strongly preferred.
Skills/Abilities:
- Proactive leadership with strong negotiation, persuasion, and decision-making skills.
- Excellent communication, organizational, and attention-to-detail capabilities.
- Ability to maintain confidentiality and exercise discretion when handling sensitive client information.
- Commitment to fostering a quality credit culture and supporting a collaborative, team-based environment both in-person and virtually.
- Strong ability to prioritize tasks, meet deadlines, and adapt to a fast paced, dynamic work environment.
Living our Values:
Our brand symbolizes how we enact our theory of change in support of current and aspiring small business owners. The torch logo reflects a three-pronged commitment to help entrepreneurs grow and thrive through affordable financing, holistic business solution services, and evidence-based policy research. The strategic roadmap is based on a set of guiding values that are the foundation of our activities.
We have adopted the following shared corporate values:
- Embrace Diversity
- Live with Integrity
- Maintain Trust
- Foster Stability
- Be Efficient
- Aligned Accountability
Physical Demands:
Workisprincipallysedentarybutmayinvolvesomephysicalexertionduring the courseofnormalwork activities,andtraveltomeetings,conferences,orworkshopsinothercities.As anexempt employee, extended hours may be on a frequent basis.
The physicaldemandsdescribedherearerepresentativeof those that mustbemetbyanemployeeto successfullyperform the essentialfunctionsof the job.Reasonableaccommodationsmaybemadetoenable individualswithdisabilitiestoperform the essentialfunctions.
Work Environment:
Workinvolves thenormalrisksordiscomfortassociatedwithastandardofficeenvironmentandisusuallyinan area that isadequatelyheated,lighted,andventilated.
Compensation:
Weofferacompetitivesalary that dependsonpriorexperience.OurbenefitspackageincludesMedical,Dental, Vision,ShortTermDisability,LongTermDisability,401kAccountwithemployermatch,plusgenerousvacationand sick time.
This job description does not constitute an employment agreement between the employer and employee and is subject to change by the employer as the needs of the employer and requirements of the job change.
Carolina Small Business Development Fund (CSBDF) is an equal opportunity employer, including disabled persons and veterans.
JOB CODE: 1000011
