Requisition Number: 5432
Job Title: Underwriter
Area of Interest: Corporate
City: Westwood
State/Province: Massachusetts
Requirements:
•Minimum 4-year college degree in Business Administration, Accounting, Finance, Economics or equivalent experience.
•Possess a minimum of 12 years experience as a Senior Financial Role or as CFO demonstrating strong analytical skills and expertise. Strong focus on the ability to assess financial and operating strengths/weaknesses of commercial, industrial or retail and consumer companies. Familiarity with asset-based lending and inventory controls and financial systems and reporting is of critical importance. Direct lending experience is not a requirement.
•Strong technical and analytical skills.
•Strong written and verbal communication and interpersonal skills.
•Thorough knowledge of financial statements, accounting principles, Credit Policy, applicable laws and industry data sources.
•Ability to interact with all levels of management, work within a team environment and work independently.
•Strong organizational and administrative skills. Ability to multi-task.
•Strong negotiation and presentation skills.
•Knowledge of Microsoft Office, particularly Excel.
•Ability to work with large databases and datasets for extraction and conversion into useful business information.
Job Description:
Responsible for the underwriting of Asset-Based loans to commercial, industrial, retail, and wholesale companies, ensuring compliance with appropriate Bank and regulatory standards. This individual reports to the FVP/Underwriting manager. The underwriting department works in close cooperation with the marketing/new business staff, the credit staff, and the internal compliance staff to take each prospect loan through the approval, documentation, and takeover process.
•Completes Pre-Screen and Approval Memos for prospective transactions, working for the V/P Underwriting Manager to review approvals prior to submission.
•Works with loan originator and marketing staff to secure all required documents to underwrite the loan, including company prepared financial statements, field exams, inventory appraisals, audited statements, collateral reporting, and all other relevant data.
•Apply strong analytical skills and expertise to assess financial and operating strengths/weaknesses of commercial, industrial or retail and consumer companies. Specific attention applied to inventory controls, financial systems and reporting is of critical importance. Evaluation of prospective transactions to ensure appropriate asset quality, risk and compliance to minimize Bank Risk/Exposure and ensure maximum profitability.
•Conducts on-site visitation for all prospect deals to review collateral, and conduct a thorough interview of the management team.
•Negotiate as necessary the terms and structure of the transaction with the prospect as well as any deal sponsors and inter-creditor relationships.
•Responsible for the quality, integrity and soundness of all financial analysis, underwriting and credit approval processes.
•Serves as primary liaison for client prospects; interacts in-person and via phone with potential customers and corporate banking sales teams on a routine basis. Identifies cross-sell opportunities and initiates dialog between the appropriate internal division and the potential customer.
•Responsible during the approval process for the accuracy of the approval memorandum, supplemental exhibits and ensures compliance with current Credit Policy standards and practices.
•Communicates final deal structure, pricing, terms and conditions to client and credit team maintaining integrity of formal Committee Approvals.
•Authenticates all post loan closing activities, including conditions precedent to closing, are accurate and complete. Is involved in the “Takeover” audit with the internal compliance team.
Tags: mortgage, mortgage jobs, underwriter job, underwriting
