Senior Asset-Based Lending Underwriter
1 week ago
About Webster Bank: Founded in 1935, Webster Bank has always prioritized people, striving to assist individuals, families, businesses, and colleagues in achieving their financial aspirations. As a prominent commercial bank, we are dedicated to serving our clients and supporting our communities. Our core values—Integrity, Collaboration, Accountability, Agility, Respect, and Excellence—distinguish us as both a bank and an employer.
Position Overview: The Senior Underwriter plays a vital role in the new business initiatives of the Asset Based Lending Group at Webster Bank. This Director-level position requires collaboration with the business development team to ensure timely and effective execution of all credit-related activities, adhering to Webster's credit policies and procedures. Reporting to the Managing Director, Head of ABL Underwriting, the Senior Underwriter will assist in business development by evaluating financial and non-financial data to accurately assess risks associated with opportunities. This includes preparing and presenting comprehensive work products for credit approval and reviewing due diligence materials to evaluate the creditworthiness of businesses across various industries.
Key Responsibilities:
- Collaborate with Business Development Officers or Portfolio Managers to establish appropriate ABL loan structures that effectively manage risk while adhering to the bank's policies.
- Prepare high-quality, detailed credit approval documents that provide in-depth analysis and highlight identified credit issues, risks, and mitigants.
- Analyze financial statements and model projections pertinent to credit requests.
- Lead the due diligence process during credit approval, including participation in stakeholder meetings and interpretation of third-party reports such as field exams and appraisals.
- Oversee the closing of commercial loans in compliance with bank policies, coordinating with legal counsel to ensure documentation aligns with credit approvals.
- Engage in projects aimed at enhancing and streamlining the credit delivery process.
Qualifications:
- Bachelor's degree in a relevant field is required; an MBA is preferred.
- 7-10 years of experience in ABL underwriting.
- Demonstrated ability to collaborate with multiple stakeholders under pressure while meeting deadlines.
- Strong quantitative and qualitative analytical skills, with the capacity to exercise sound independent judgment while ensuring accuracy in credit evaluations.
- Exceptional verbal and written communication skills to convey conclusions and rationales clearly and persuasively.
- Detail-oriented with strong organizational skills and the ability to prioritize effectively.
- Proficiency in the MS Office suite is required; familiarity with SageWorks and Stucky software is preferred.
Equal Opportunity Employer: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status.
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