Senior Credit Underwriter
4 days ago
NewLane Finance is a leading commercial equipment finance company, dedicated to providing innovative financing solutions to small and mid-size businesses nationwide. Our mission is to revolutionize small business lending by leveraging cutting-edge technology and a motivated workforce to deliver fair and transparent financing options.
Job SummaryWe are seeking an experienced Senior Credit Underwriter to lead our middle ticket credit team. The successful candidate will be responsible for underwriting middle ticket transactions, analyzing financial statements, and providing credit recommendations. This role requires strong commercial credit underwriting skills, financial statement analysis, and excellent communication skills.
Key Responsibilities- Underwrite middle ticket transactions ($150,000 to $1,000,000) in accordance with NewLane's Credit Policies and Procedures.
- Provide concise analysis of equipment finance requests by reviewing business financial statements, including income statements, cash flow statements, balance sheets, tax returns, and collateral appraisal reports.
- Perform financial spread and analysis of business financial statements and tax returns to determine the applicant's overall financial condition and their capacity to repay.
- Based on the assessment of an applicant's commercial and financial profile, provide an individual credit recommendation.
- Prepare and present recommendations to members of Senior Management or Credit Committee, including a summary of the transaction, risk, and mitigating factors.
- Review and interpret third-party commercial reports, consumer reports, and related information.
- Work closely with Risk Analytics and Senior Credit Management to manage channel approval and conversion rates, monitor portfolio performance, and external risk trends.
- Assist with implementing changes to Credit Policies and Procedures to the Credit underwriting team.
- Build and maintain collaborative relationships with NewLane Management team across all functional departments.
- Be an active participant in Senior Leadership meetings, contributing thoughts and ideas to help achieve NewLane's goals and objectives.
- Bachelor's degree in Finance, Economics, Accounting, or related business fields.
- 5+ years of related experience, preferably within commercial equipment financing or leasing industry.
- Experience with interacting with bank examiners and third-party audit firms.
- Ability to understand and interpret business tax returns, financial statements, and business concepts.
- Proficient in Microsoft Office Suite, including Excel, and computer literacy skills.
- Good working knowledge of other functional departments and their interactions with the Credit department.
- Strong interpersonal skills and ability to leverage relationship building skills.
- Customer service focus and a professional approach to servicing B2B relationships.
NewLane Finance offers competitive compensation, excellent benefits, including Health, Dental, Vision, 401(k) with match, flexible spending, Life Insurance, Short Term and Long-Term Disability Insurance, generous PTO, and much more.
We are an equal opportunity employer and welcome applications from qualified candidates without regard to race, color, religion, sex, sexual orientation, gender identity, gender expression, national origin, age, protected veteran or disabled status, or genetic information.
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