Senior Credit Underwriter

4 weeks ago

Philadelphia, Pennsylvania, United States NewLane Finance Full time
About NewLane Finance

NewLane Finance is a commercial equipment finance company that revolutionizes small business lending by employing the latest technology and a motivated workforce to deliver fair and transparent financing solutions to businesses with unmatched levels of speed, convenience, and customer service.

Job Summary

We are seeking an experienced Senior Credit Underwriter to join our middle ticket credit team. The qualified candidate will be responsible for and have direct oversight of the day-to-day underwriting of all middle ticket transactions with sizes ranging from $150,000 to $1,000,000.

Key Responsibilities
  • Directly underwrite middle ticket transactions 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, personal financial statements, 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 develop the NewLane Middle Market underwriting team to accurately underwrite mid-ticket transactions according to NewLane's Credit Policies and Procedures.
  • Provide mentorship and ongoing guidance to credit underwriting team members to advance their careers and development.
  • Work with Sales counterparts to promote a win-win Credit and Sales culture.
  • 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.
  • Lead and own the recruiting and hiring efforts for Middle Market credit underwriting team members.
  • Ability to work on multiple projects simultaneously, managing time and resources to ensure work is completed efficiently and within established timeframes.
  • Facilitate and conduct calls directly with customers to obtain additional information.
  • Perform fraud checks and due diligence while underwriting and assessing new equipment finance requests.
Requirements
  • 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.
What We Offer

The successful candidate will receive 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.

NewLane Finance is an equal opportunity employer. All qualified applicants will receive consideration for employment 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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