Senior Underwriter

Company Description

For more than 70 years, IDB Bank has made it our mission to be the best bank for our clients by putting their needs first, and the success we’ve enjoyed fundamentally comes down to our people. Here at IDB, you’ll work side by side with some of the most talented professionals in the industry who share a strong sense of teamwork and a passion for providing exceptional service down to the smallest detail. We offer a comprehensive benefits package that includes generous paid time off and the ability to participate in our medical coverage and 401(k) plan on your very first day with us. We are also committed to diversity and inclusion, and to providing all of our team members with an equal opportunity to succeed and make meaningful contributions within a work environment that is respectful, welcoming and inclusive.

Job Description

• Underwrite new lending facilities primarily for the ABL and Factoring departments.
• Complete renewals, annual credit reviews and amendments on a timely basis for assigned borrowers.
• Monitor and report all deterioration in credit quality to the underwriting manager, team leader, and group head.
• Prepare loan pricing models, LGD and PD with accurate inputs relating to the subject facility.
• Attend client meetings with the account officers, calling on prospects and customers to identify loan needs and cross-sell opportunities, aid with facility structuring that complies with the bank’s credit policy and borrower/sponsor risk profile.
• Actively provide coaching and support to other members of the underwriting team.
• Comply with all of the bank’s policies and procedures.
• Work on special projects as assigned.
• Complete all required training courses in a timely fashion.

#LI-Hybrid

Qualifications

• Minimum experience of 7-10 years in Asset Based Lending or Factoring underwriting required. 
• Underwriter candidate needs to have strong credit and organizational skills as well as a solid understanding of Asset Based Lending and Factoring credit facilities that includes asset reliant loans collateralized by A/R, Inventory and IP.
• In depth knowledge of ABL/Factoring loan structures, credit facilities, collateral and covenants. 
• Ability to complete a concise analysis of financial statements, collateral, guarantor’s financial condition, projections and sensitivity analysis.
• Recommend new deals, renewals, amendments or annual reviews for approval to the Bank’s designated approvers

• Contribute effectively to candid and objective credit evaluation dialogues, including Credit Committee and other relevant meetings.

• Demonstrate a commitment to producing high-quality work, maintain an attention to detail and strive for excellence in all endeavors.
• Ability to effectively prioritize key assignments, manage multiple tasks and work independently to meet tight deadlines.
• Demonstrate a preference to align with a larger team or organization towards a common goal.
• Willingness to take on special projects as needed.
• Should be familiar with systems (Microsoft, Salesforce), as well as profitability models, LGD and PD models.
• Should possess strong communication skills (verbal and written) with experience presenting to Senior Management Team
• Bachelor's degree in a related field required

Compensation

The expected annual salary for this position is between $110,000 and $175,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills and experience. In addition to base salary, our total rewards package also includes eligibility for an annual bonus, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.

Additional Information

The Bank will make reasonable accommodations to the following employees to allow them to perform the essential functions of their position, except where doing so would result in undue hardship to the Bank:

• Those with a known mental or physical disability.
• Pregnant individuals and/or individuals with pregnancy or childbirth-related medical conditions.
• Victims of domestic violence, sex offenses or stalking.
• Employees with religious observance and practice obligations.

Any employee who believes he or she needs an accommodation for any of the above reasons should contact their supervisor or a member of Human Resources to request such an accommodation. In each case, the Bank will engage in a good faith written or oral dialogue concerning the individual’s accommodation needs; potential accommodations that may address the individual’s accommodation needs, including alternatives to a requested accommodation; and the difficulties that such potential accommodations may pose for the employer.

The Bank retains the ultimate discretion to choose the appropriate reasonable accommodation. Upon reaching a final determination at the conclusion of the cooperative dialogue, the Bank will provide the requesting individual with a written final determination identifying any accommodation granted or denied. In addition, the Bank will maintain any information regarding the employee’s request and status in the strictest confidence, except as requested by the employee, as required on a need-to-know basis or as otherwise required by law.

Disclaimer

The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.

All your information will be kept confidential according to EEO guidelines.

We are operating on a hybrid schedule. 

NO AGENCIES PLEASE.

IDB BANK, INCLUDING ITS SUBSIDIARIES AND DIVISIONS, PROVIDES EQUAL EMPLOYMENT OPPORTUNITIES TO ALL EMPLOYEES AND APPLICANTS FOR EMPLOYMENT WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, AGE, DISABILITY, GENETIC STATUS, CITIZENSHIP STATUS, MARITAL STATUS, MILITARY OR VETERAN STATUS, CURRENT UNEMPLOYMENT OR ANY OTHER LEGALLY PROTECTED CATEGORY IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE AND LOCAL LAW. NOTHING IN THIS SITE CONSTITUTES A PROMISE OR OFFER OF EMPLOYMENT.

IDB BANK, INCLUDING ITS SUBSIDIARIES AND DIVISIONS, PROVIDES EQUAL EMPLOYMENT OPPORTUNITIES TO ALL EMPLOYEES AND APPLICANTS FOR EMPLOYMENT WITHOUT REGARD TO RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, NATIONAL ORIGIN, AGE, DISABILITY, GENETIC STATUS, CITIZENSHIP STATUS, MARITAL STATUS, MILITARY OR VETERAN STATUS, CURRENT UNEMPLOYMENT OR ANY OTHER LEGALLY PROTECTED CATEGORY IN ACCORDANCE WITH APPLICABLE FEDERAL, STATE AND LOCAL LAW. NOTHING IN THIS SITE CONSTITUTES A PROMISE OR OFFER OF EMPLOYMENT.