Job Details

Overview

This is a hybrid role with the expectation that time working will regularly take place inside and outside of our New York City office

This position 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 (ABL), 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.

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Qualifications

Basic 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 ABL

Required Qualifications:

• Commercial lending experience including underwriting and executing factoring/ABL transactions
• Solid understanding of financial statements, proficiency in financial modeling, and strong analytical skills with an ability to question assumptions
• Retailers, consumer goods, wholesale, and manufacturing industry experience.
• Strong communication and interpersonal skills; team player
• Self-motivated with high energy levels; ability to prioritize and multi-task effectively
• Some experience of Factoring deals is a plus; ability to understand legal documentation and experience of managing deals is a plus

The base pay for this position is relative to your experience but the range is generally $160,000 - $190,000 per year.

Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at

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