SFB
2025 Commercial Underwriting Intern
SFB, Salem, Massachusetts, us, 01971
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.
Summer Intern Assignment
The intern program at Salem Five Bank is a paid summer internship. Internships are open to college students completing their sophomore or junior years. This is a five day per week assignment, (M-F) 8:30 a.m. to 5:00 p.m.
(2025 program dates are Tuesday, May 27, 2025 through Friday, August 8, 2025.)
During the assignment, the intern will have the opportunity to work with members of the Commercial Underwriting Department, to gain a working knowledge of processes and the overall business operations of the Commercial Loan Division at Salem Five Bank. The selected intern candidate(s) would also gain valuable analytical experience under the direction of a seasoned credit professional. Throughout the eleven-week program, the intern will participate in Salem Five events and gain valuable insights into the many facets of Commercial Underwriting specifically, and banking as a whole.
The intern will join the team after completing an Intern Orientation on their first day.
Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.
Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we're all about
Day l
The intern will meet with a representative from Human Resources for orientation to the company. The intern will then meet with Bob Eastman, SVP - Underwriting Manager - Commercial & Industrial and Anthony Benvenuto, AVP - Commercial Loan Underwriter II/Assistant Underwriter Manager, who will provide an overview of the department and provide the intern with the Week 1 schedule. The intern will report to Anthony Benvenuto throughout the internship program. A lunch will be scheduled and introductions to other team members will be made over the course of the first week to learn about each member's role and responsibilities within the department.
Duration of Program
The intern will be involved with several initiatives over the duration of the program and would be assigned to the support team. (Examples may include the following):
Daily
Work/Assignments:Ensuring full compliance with the Bank's Information Security Policies.Understanding/learning the gathering of deposit and loan balances to learn the loan/deposit system for development of a commercial relationship's profile.Learning how to analyze various credit reports for businesses and owners/ guarantors.Learning how to spread financial statements for businesses utilizing the BakerHill spreading software.Understanding and learning how to do industry research utilizing various web-based applications and search tools.Analyzing financial information provided by personal guarantor(s) to determine the degree of financial support that they can offer to the overall commercial relationship.Performing various other aspects of financial analysis, including: debt service coverage analysis, collateral analysis, and income statement and balance sheet ratio analysis.Working closely with experienced Underwriters to complete appropriate sections of the Loan Facility Reports.Attending certain customer meetings to better understanding the business interaction between an experienced Commercial Lender and the Commercial Customer.Attending weekly Senior Loan Committee meetings to further understand the loan approval process and gain exposure to dialogue which takes place during the approval of loan relationships in excess of $2,000.000.Performing various other functions/special projects in support of Commercial Underwriting.Projects and Assignments:
Will be determined based on current active projects.
Intern Professional Development Opportunities
During the internship period, the intern will have the opportunity:
To liaise with different members of the organization and understand the business from a practitioner's perspective.To develop job related skills.Participate in industry meetings or events.Skills and Mindset Desired for the Position
To be considered and to be successful, we will be seeking the following:
Technology savvy with experience using digital banking tools and keen interest in emerging technologiesProfessional demeanor and passion for learningCan-do attitude with high energy, ability to multi-task, and willingness to work on a variety of initiatives simultaneouslyCritical thinker with strong attention to detailStrong data and process analytical skillsResourceful self-starter with the ability to work on assignments independently
Ready to apply ? If this job sounds like a fit for you, then click on
Apply / Apply Now
in this posting. We look forward to talking with you.
Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.
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)
This position requires the ability to work in the Salem, MA offices.
Summer Intern Assignment
The intern program at Salem Five Bank is a paid summer internship. Internships are open to college students completing their sophomore or junior years. This is a five day per week assignment, (M-F) 8:30 a.m. to 5:00 p.m.
(2025 program dates are Tuesday, May 27, 2025 through Friday, August 8, 2025.)
During the assignment, the intern will have the opportunity to work with members of the Commercial Underwriting Department, to gain a working knowledge of processes and the overall business operations of the Commercial Loan Division at Salem Five Bank. The selected intern candidate(s) would also gain valuable analytical experience under the direction of a seasoned credit professional. Throughout the eleven-week program, the intern will participate in Salem Five events and gain valuable insights into the many facets of Commercial Underwriting specifically, and banking as a whole.
The intern will join the team after completing an Intern Orientation on their first day.
Salem Five has more than 30 retail banking branches throughout Essex, Middlesex, Norfolk and Suffolk counties, strong business banking capabilities, an Insurance division, a Wealth Management & Trust organization and a Mortgage Company that has provided homeownership to generations of families.
Salem Five believes deeply in supporting the communities in which we reside. Donations through our Charitable Foundation or events at the branch or location-level are an important part of our DNA. We would not be the company we are without our commitment to businesses and organizations that help the region thrive and to our employees. Come see what we're all about
Day l
The intern will meet with a representative from Human Resources for orientation to the company. The intern will then meet with Bob Eastman, SVP - Underwriting Manager - Commercial & Industrial and Anthony Benvenuto, AVP - Commercial Loan Underwriter II/Assistant Underwriter Manager, who will provide an overview of the department and provide the intern with the Week 1 schedule. The intern will report to Anthony Benvenuto throughout the internship program. A lunch will be scheduled and introductions to other team members will be made over the course of the first week to learn about each member's role and responsibilities within the department.
Duration of Program
The intern will be involved with several initiatives over the duration of the program and would be assigned to the support team. (Examples may include the following):
Daily
Work/Assignments:Ensuring full compliance with the Bank's Information Security Policies.Understanding/learning the gathering of deposit and loan balances to learn the loan/deposit system for development of a commercial relationship's profile.Learning how to analyze various credit reports for businesses and owners/ guarantors.Learning how to spread financial statements for businesses utilizing the BakerHill spreading software.Understanding and learning how to do industry research utilizing various web-based applications and search tools.Analyzing financial information provided by personal guarantor(s) to determine the degree of financial support that they can offer to the overall commercial relationship.Performing various other aspects of financial analysis, including: debt service coverage analysis, collateral analysis, and income statement and balance sheet ratio analysis.Working closely with experienced Underwriters to complete appropriate sections of the Loan Facility Reports.Attending certain customer meetings to better understanding the business interaction between an experienced Commercial Lender and the Commercial Customer.Attending weekly Senior Loan Committee meetings to further understand the loan approval process and gain exposure to dialogue which takes place during the approval of loan relationships in excess of $2,000.000.Performing various other functions/special projects in support of Commercial Underwriting.Projects and Assignments:
Will be determined based on current active projects.
Intern Professional Development Opportunities
During the internship period, the intern will have the opportunity:
To liaise with different members of the organization and understand the business from a practitioner's perspective.To develop job related skills.Participate in industry meetings or events.Skills and Mindset Desired for the Position
To be considered and to be successful, we will be seeking the following:
Technology savvy with experience using digital banking tools and keen interest in emerging technologiesProfessional demeanor and passion for learningCan-do attitude with high energy, ability to multi-task, and willingness to work on a variety of initiatives simultaneouslyCritical thinker with strong attention to detailStrong data and process analytical skillsResourceful self-starter with the ability to work on assignments independently
Ready to apply ? If this job sounds like a fit for you, then click on
Apply / Apply Now
in this posting. We look forward to talking with you.
Qualified candidates may also submit a resume and application online at salemfive.com/careers or mail your resume to Human Resources, 210 Essex Street, Salem, MA 01970.
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)