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VP, Underwriter - Factoring

New York, NY, USA | CIT Group

  • Industry:
    Financial Services
  • Position Type:
  • Functions:
    Accounting / Control
    Finance (Internal)
    General Management
  • Experience:
    7-10 years
Job Description:
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Responsibilities


The VP of Underwriting for Commercial Services takes lead responsibility in preparation and analysis of loan underwriting presentations for factoring, working capital financing, credit protection and receivables management services.

Principle Duties and Responsibilities

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.

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.

Assists with proposal process with Originator/ Business Development Officer.

Participates as a team member in special projects aimed at improving business processes and analytic tools.

Monitors the progression of assigned deals and updates applicable databases and models.

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.


Qualifications


Bachelor’s degree with a concentration in finance or accounting preferred

7+ years of experience in the commercial lending industry; credit trained with direct experience of underwriting and executing factoring/ABL transactions

Must have a solid understanding of financial statements, proficiency in financial modeling, and strong analytical skills with an ability to question assumptions

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


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