EXTERNAL CLIENT ROLE
As part of the Credit Underwriting Team reporting to Head of Credit Underwriting, a qualified candidate is responsible for the credit analysis, credit approval memo (CAP) preparation, and all matters related to the credit underwriting process of a specific prospect, existing borrower, or sponsor portfolio. Role includes supporting the origination efforts of the Bank through solid credit and structuring experience, strong underwriting and financial modeling abilities and light documentation tasks. Includes participation in the pre-screen/green light secessions, as well as various other CRE related adhoc projects. Heavy focus on credit skills, industry and product knowledge, and property valuation and assessment (appraisals, environmentals, plan and cost, etc.). Timely and accurately inform Credit Risk, Management, Division Executives, and Credit Committee Members of any findings throughout the underwriting process of the CRE borrowers. CRE portfolio consists of various sub-sectors with heavy focus on construction financing of condo, office and multi-family. Additional sub-sectors include but not limited to hotels, industrial and stabilized assets.
· Support the marketing and origination functions of the CRE lending team by pre-screening transactions for general fit with the company profile and request additional information to assess the credit profile of the particular borrower. Utilize analytical programs and industry expertise in this function.
· Commence the underwriting process by obtaining the necessary due diligence from sponsors and third parties, including market information, property information, borrowing entity and structure, occupancy, NOI, EBITDAR information, and personal and corporate financial statements. Prepare credit approval memo (CAP).
· Properly loan size and prepare comprehensive study of revenue stream versus debt service with focus on DSCR, Debt yield, etc.
· Risk rate the borrowers and facilities utilizing Moody’s CMM model
· Obtain and review news and other industry sources of information
· Develop financial models to best analyze transactions, stress scenarios, and projections
· Maintain awareness of individual sub-sector performance within the overall CRE portfolio and identify potential risks of the specific loans.
· Primary responsible and accountable to review third party reports, address issues and challenge findings with vendors when appropriate, encourage third parties to deliver on time.
· Maintain current knowledge of changes in regulatory environment.
· Attend Credit Committee meetings with the business team for presentation of credit approval memos
· Experience underwriting construction financing a must
· Advanced credit and financial analysis skills
· Comprehension of complex transactions, loan documentation and deal structure
· Strong credit and cash flow analysis skills with complex, structured transactions, due diligence proficiency and detail orientation
· Strong understanding of KYC and compliance policies
· Strong written and verbal communication skills
· Strong ability to exercise independent action and decision making with properly documented risk mitigation applied
· Task oriented with attention to detail and ability to meet time sensitive deadlines
· A minimum of five to seven years’ experience as an underwriter in CRE banking
· Bachelor’s Degree in Finance/Accounting Economics. MBA desirable.