Who We Are
First Fed is a local community bank on an exciting growth trajectory with 16 locations in 5 counties across Washington. We are committed to investing in our fantastic team and technologies which enable better service to our customers and communities. In 2021, First Fed was recognized as a Best Workplace by Puget Sound Business Journal and a Best Bank by Forbes, Peninsula Daily News, and Bellingham Alive.
We welcome applicants from all backgrounds – our diversity makes us stronger. In 2023, we are celebrating our first 100 years of service.
Our Values
Optimism: We are positive and decisive. We believe the future will be better than the past. Our attitude demonstrates persistence which leads to success.
Initiative: We are self-starters and find innovative solutions. We are courageous, entrepreneurial, and passionate. We take action for good.
Respect: We include individuals from diverse backgrounds and with different perspectives. We are committed to honoring and serving others.
Growth: We learn and adapt so we can continually improve. We believe in personal growth through grit and determination.
Ownership: We are invested in our endeavors. We are accountable and take responsibility for our actions and decisions.
Are you who we are looking for?
- You have experience with C&I underwriting
- You have a Bachelor’s degree focused in Finance, Business Administration, or Accounting
- You have 3+ years’ of experience in commercial underwriting
- You want to work remotely from anywhere in the USA
- You are detail-oriented
- You excel when working independently
- You are customer focused
- You are passionate about digging deep into investigative work with loans
The Job:
Our Commercial Underwriters thoroughly investigate the operations of commercial businesses and borrowers to determine their creditworthiness. Here at First Fed, Commercial Underwriting is an “end-to-end” position. Our Commercial Underwriters collaborate with the Relationship Managers from the application of a borrower to the closing of a loan and are also involved in the ongoing monitoring of the credit relationship. Commercial Underwriting here includes spreading financial statements, reviewing appraisals, conducting customer due diligence, preparing credit memos, and ongoing monitoring of their assigned portfolios. Commercial Underwriters work in a deal team setting alongside Commercial Loan Processors, where they support one or more Commercial Relationship Managers (Loan Officers).
One of the things our Commercial Underwriters enjoy most is learning about different businesses and industries and how they operate. There is variety in the day-to-day work of a Commercial Underwriter here and every day you could be working with a different kind of deal. Our Commercial Underwriters develop a strong sense of ownership in their work. Working closely with Commercial Relationship Managers, they make a huge difference in the lives of our commercial customers by providing valuable credit solutions that allow their businesses to thrive. Common credit products include owner-occupied and non-owner-occupied loans as well as commercial & industrial lines of credit and term facilities.
Our Commercial Underwriters support the growth of the Bank’s loan portfolio, and by applying sound underwriting standards they ensure that we are protected against risk and have a stable asset base and future. Join our team and help us grow today!
Pay Range
The pay range for For the Underwriter II position is $65,478.40 -$111,313.28
The typical hiring range for this position is $65,478.40 – $75,136.46
Commercial Credit Underwriter II - Typically requires accounting and financial analysis skills as developed through a combination of Bachelor’s Degree and related work experience. This is typically an exempt position with 3 to 4 years of relevant banking experience.
The pay range for for the Senior Underwriter position is $72,026.24 - $122,444.61
The typical hiring range for this position is $72,026.24 – $82,650.11
Senior Commercial Credit Underwriter - Typically requires demonstrated accounting and financial analysis skills as developed through a combination of Bachelor’s Degree and related work experience. Incumbent may be considered a subject matter expert (SME) based on demonstrated experience commercial loan underwriting processes and requirements. May provide work direction to others as needed. This is typically senior level exempt position requiring 5 or more years of relevant banking experience.
Pay range may be higher depending on location
The incentive plan for this position is the Credit Support Incentive plan. Payouts for the Credit Support plan are determined at the end of each quarter using a balanced scorecard for each function. The Threshold, Target, and Stretch percentages of the participant’s base salary for this plan are as follows:
Threshold | Target | Stretch |
5% | 7.5% | 10% |
Employees will be eligible for our benefits package including medical, dental, and vision insurance, paid time off, retirement plans (401k with company match and Employee Stock Ownership Plan), gym membership reimbursement, discounts on our banking products, and more! Additional information on our benefits package can be viewed at https://www.ourfirstfed.com/careers
As a community bank, we know the power in bringing people together from all walks of life. Our communities are beautiful and strong because of their diversity, and it’s important to us that all of our locations reflect the unique diversity of the places we live and work. We are passionate about hiring the very best talent and welcome applicants from all backgrounds.
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities