Struggling to Land a Bank Underwriter/Credit Role – What Am I Missing?
Hi everyone,
I’ve been on the hunt for bank underwriter and credit-related positions in New York for the past year, but I’m feeling stuck—barely getting any interviews. It’s been really frustrating! I would greatly appreciate any insights or advice you might have.
I hold a Bachelor’s degree in Business Administration and am currently working towards completing my CPA examination.
Here’s a bit about my current role in the banking sector:
Commercial Loan Operations Assistant (March 2022 – Present)
- Manage the bank’s commercial loan portfolio, which exceeds $500 million.
- Assist in creating credit proposals and memos.
- Analyze financial statements, tax returns, rent rolls, and cash flow statements.
- Conduct thorough due diligence and KYC for borrowers, including reviewing credit reports, lien and litigation histories, property flood searches, building violations, and tax transcripts to ensure compliance with bank regulations.
- Evaluate collateral by reviewing third-party reports such as appraisals and environmental assessments.
- Prepare and send loan commitment letters to borrowers based on approved credit proposals.
- Lead the loan closing and funding process by coordinating with attorneys, reviewing required documents, and ensuring all conditions are met.
- Provide administrative support to the Commercial Banking and Syndication departments.
- Monitor insurance coverage, UCC filings, overdue loan payments, overdrafts, and maturing loans.
- Maintain borrower relationships and collect updated financial documents for loan reviews and renewals.
- Timely completion of Audit requests.
Thanks in advance for your help!
One response
It sounds like you have a solid foundation and relevant experience in the banking sector, especially in commercial loan operations. Here are a few suggestions to help you enhance your job search and improve your chances of landing an underwriter or credit role:
Tailor Your Resume and Cover Letter: Make sure your resume and cover letter are specifically tailored to each job you apply for. Highlight the skills and experiences that align most directly with the job description. Use keywords from the job listing to ensure your application gets noticed by ATS (Applicant Tracking Systems).
Networking: Leverage your existing network and try to expand it. Consider reaching out to former colleagues, joining industry groups on LinkedIn, or attending local finance and banking events. Sometimes, referrals can lead to interviews that might not be publicly advertised.
Skills Development: Since you are a CPA candidate, make sure you are also enhancing your analytical skills, particularly related to credit analysis and risk assessment. Online courses or certifications related to underwriting or credit risk management can provide an additional edge.
Highlight Specific Achievements: In your application, emphasize specific achievements from your current job. For instance, if you contributed to improving processes in loan documentation or developed tools that increased efficiency, be sure to mention these accomplishments.
Interview Preparation: If you’re getting interviews but not offers, consider practicing common interview questions for underwriting roles. Use the STAR method (Situation, Task, Action, Result) to structure your responses and demonstrate your problem-solving abilities.
Seek Feedback: If possible, obtain feedback on your resume or interview style from a mentor or someone in the industry. They may offer insights that you hadn’t considered.
Consider Different Roles: If you’re having trouble finding underwriter roles, consider applying for related positions such as credit analysts, risk analysts, or even entry-level underwriting roles. These can be stepping stones to the role you ultimately want.
Stay Persistent and Positive: The job market can be tough, and it’s essential to stay resilient. Keep refining your approach, and don’t hesitate to seek further assistance or guidance from those in your network.
Good luck, and stay persistent! Your current experience gives you a strong background to build on for these roles.