Senior Underwriter-CMS
3 weeks ago
The VP, Underwriting- Commercial Services (Asset Based Lending/Factoring) CMS leads underwriting efforts by servicing Commercial Services (CMS) prospects at the highest level of ability and complexity. Takes lead responsibility in preparation and analysis of loan underwriting presentations for factoring, working capital financing, credit protection and receivables management services. Supports the Business Development Officers with expertise in structuring, analysis, and credit documentation for CMS prospects. Leads special projects as needed to facilitate CMS lending activities and service capabilities and may act in a leadership role to less experienced underwriters in the work group.
Responsibilities:
Underwriting - Works closely with Underwriting Manager, Business Development Officers, Legal, Credit Risk, Operations, and other relevant departments; communicates on an ongoing basis and manages the underwriting function in a timely and collaborative manner and within established guidelines and expectations. Coordinates all closing activities with applicable departments (Operations, Credit, Legal, etc.) and manages deal throughout the entire process, including for preparation/negotiation/execution of all legal documentation, system set up, and handoff to Portfolio Management team in an appropriate manner.
Risk Management - Ensures all underwritings adhere to internal credit procedures and provides written reports and recommendations to Risk in a clear, concise, and well-articulated manner. Identifies and obtains approval for any exceptions to internal policies or procedures during the underwriting process. Adheres to corporate and business specific policies and considers appropriate controls as part of day-to-day responsibilities. Leads KYC/BSA process and ensure all KYC compliance requirements have been met prior to transaction close.
Analysis - Performs rigorous financial analyses of transactions including financial statement analysis, customer evaluation, detailed collateral analysis, risk rating, and industry/competitor analysis to assess transaction risk. Analyzes financial statements and capital structures, prepares financial spreads, performs sensitivity / scenario analysis; conducts business/industry/competitor analysis to identify transaction risks and mitigates; provides recommendation on the transaction based on due diligence.
Business Support - Assist the portfolio team with transactions related to client acquisitions, refinancing and other opportunities. Identify cross-sale opportunities for prospects. Assists management with peer development and training.
The base pay for this position is relative to your experience but the range is generally $140,000 to $175,000 per year. This position is eligible for variable compensation, which may be in the form of incentive, bonus, or commission pay. First Citizens offers a competitive, comprehensive benefits program which you can review here: .
Qualifications:
Bachelor's Degree and 6 years of experience in Commercial Banking, Credit and/or Underwriting, Financial Services, Factoring and/or ABL OR High School Diploma or GED and 10 years of experience in Commercial Banking, Credit and/or Underwriting, Financial Services, Factoring and/or Asset Based LendingSkill(s): Financial Statement Analysis - Strong background in financial statement analysis, Collateral Analysis - Strong background in receivables and inventory analysis
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