Senior Underwriter, Asset Based Lending Expert

4 weeks ago

New York, New York, United States Webster Bank Full time

At Webster Bank, we're committed to putting people first and helping individuals, families, businesses, and our colleagues achieve their financial goals.

As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Our values of Integrity, Collaboration, Accountability, Agility, Respect, and Excellence set us apart as a bank and as an employer.

The Senior Underwriter is a critical contributor to the new business effort of the Asset Based Lending Group at Webster Bank. This Director-level position is responsible for timely and thoughtful execution of all credit-related activities, consistent with Webster's credit policies and procedures, needed to bring new business over the finish line to close.

Reporting to the Managing Director, Head of ABL Underwriting, the Senior Underwriter will support our business development efforts by analyzing financial and non-financial information to properly assess the risk in a given opportunity, prepare and present the necessary work product to bring the opportunity forward for credit approval, review diligence materials, and evaluate the creditworthiness of businesses across a wide range of industries on a nationwide basis.

The Senior Underwriter is expected to become a subject matter expert in the relevant credit policies and procedures, as well as in proper loan documentation for asset-based loans. While much of the business is within Webster's core Northeast footprint, some travel will be required for management meetings and diligence tours.

This position is hybrid and based in Webster's New York City office.

Responsibilities:
  • Collaborate with Business Development Officers or, in the case of an existing client, the Portfolio Manager, to develop proper ABL loan structures that appropriately manage risk and conform to the bank's loan policies and procedures within specified timeframes.
  • Prepare high-quality, detailed but concise credit approval documents and deal screens that contain an in-depth analysis and highlight the identified credit issues, risks, and mitigants.
  • Spread financial statements and model projections related to credit requests.
  • Lead due diligence processes during credit approval, including taking part in stakeholder meetings, ordering, and interpreting third-party reporting such as field exams, appraisals, and valuations.
  • Lead the closing of commercial loans in adherence to the bank's policy and procedures, including coordinating with legal counsel to ensure legal documentation conforms to credit approvals and assisting all internal partners in the onboarding process.
  • Participate in projects that help improve and streamline the credit delivery process.
Education, Skills & Experience:
  • Bachelor's degree in a related field required; MBA preferred.
  • 7-10 years of experience in ABL underwriting.
  • Proven ability to work collaboratively with multiple stakeholders in pressure situations, meeting deadlines.
  • Strong quantitative and qualitative analytic skills and the ability to exercise sound independent judgment within areas of responsibility while ensuring accuracy and thoroughness in credit evaluations and legal documentation.
  • Superior verbal and written communication to convey conclusions and rationales clearly and persuasively in written documents and in personal presentations.
  • Detail-oriented with the ability to be organized, set priorities.
  • Proficiency with MS Office product suite required and working knowledge of SageWorks and Stucky software preferred.

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