ABL and Factoring Underwriter

2 weeks ago


Auburn Hills, Michigan, United States Oxford Bank Full time
Job Overview

Position Summary
The Underwriter will be responsible for evaluating and approving loans efficiently while maintaining an acceptable level of credit risk and ensuring a favorable risk-return balance. This role will oversee the entire underwriting process, ensuring that clients are well-informed of the requirements and their obligations, and facilitating a seamless transition through to closing.

Key Responsibilities

• Collaborate with sales personnel to review proposals prior to submission to potential clients.

• Underwrite ABL transactions and factoring arrangements, including those with inventory or term loan elements.

• Oversee the underwriting workflow – prepare credit approval documentation; recommend initial debtor limits; assess financial statements and relevant data; analyze legal agreements; review field examinations when necessary, and comprehend collateral and financial trends.

• Engage with the management of prospective clients before finalizing larger transactions.

• Supervise due diligence processes and utilize Compliance Manager as required.

• Facilitate the onboarding of new clients into Operations.

• Conduct thorough due diligence, analyzing historical and projected financial performance to evaluate business viability concerning the proposed credit facility.

• Assess collateral for any potential risks that may need to be excluded or reserved from the facility.

• Upon receiving necessary internal approvals, draft and amend Loan Documents based on the executed proposal and any additional conditions identified during due diligence. Collaborate with external legal counsel to ensure that all terms and conditions are accurately reflected in the documents.

• Maintain a comprehensive understanding of Oxford Bank's credit policies and minimum underwriting standards.

• Present transactions to Senior Management or the Board Loan Committee for final approval.

• Provide guidance, training, and mentorship to Underwriting Analysts.

• Perform additional duties as needed, including underwriting other products offered by Oxford Bank.

Qualifications and Skills
These specifications serve as general guidelines based on the minimum experience typically considered essential for successful performance in this role. The requirements listed below represent the knowledge, skills, and abilities necessary for satisfactory job performance.

• Proven experience in analyzing or underwriting factoring and asset-based lending transactions.

• Strong knowledge of commercial lending, particularly in cash flow and related technical analysis.

• Exceptional organizational skills and attention to detail necessary for underwriting a diverse range of loan transactions.

• Broad industry expertise, including sectors such as staffing, manufacturing, services, government, and wholesale.

• Excellent written and verbal communication skills, with the ability to negotiate documentation effectively.

Education and Experience

• A Bachelor's degree is preferred, ideally with a focus on accounting or finance.

• 3-5 years of experience in banking, risk management, secured lending, or commercial lending, demonstrating strong credit management and financial statement analysis capabilities.

• A minimum of 2-3 years of secured lending experience, with a proven track record of achieving objectives and surpassing goals.

• Field examination or equivalent experience is required.

• Comprehensive knowledge of secured lending with the ability to underwrite both large and small transactions for factoring and asset-based deals.

Additional Information
Department: Credit
Reports to: Underwriting Manager
Travel: Limited
Classification: Exempt
Employment Type: Full-time
Supervises: None

Oxford Bank is an equal opportunity employer committed to providing equal employment opportunities and fostering an environment free from discrimination and harassment. All employment decisions at Oxford Bank are made without regard to age, race, color, religion, gender, sexual orientation, gender identity, national origin, veteran, or disability status.



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