ABL Underwriter Sr

AssuredPartners - New York, NY

Full-time

New York, NY

Insurance Carriers and Related Activities

About the position

The Asset Based Lending Underwriter Sr is a pivotal role within AssuredPartners, located in New York. This position is primarily responsible for the comprehensive review and underwriting of new complex business transactions, ensuring adherence to the Bank's Credit Policies and Procedures. The Underwriter will engage directly with prospective clients, structuring and closing new transactions while also providing mentorship to lower-level Underwriters. This role requires a deep understanding of financial analysis, collateral evaluation, and risk assessment, making it essential for the successful execution of asset-based lending transactions. In this role, the Underwriter will prepare detailed Deal Screen Summaries, reviewing financial and collateral information to create a comprehensive summary of the company, including the anticipated structure of the asset-based loan. The Underwriter will identify strengths and risks associated with the transaction, supporting their recommendations with thorough analysis. Additionally, the preparation of Credit Approval Memorandums is a critical responsibility, combining company analysis, collateral evaluation, and third-party due diligence to present a deal summary for Senior Management's final approval. The Underwriter will also manage loan documentation, ensuring that all closing and funding processes for new transactions are executed smoothly. This includes collaborating with attorneys to establish parameters within loan agreements that align with the approved Credit Approval Memorandum (COM) and working with Operations to finalize loan closures and account setups in the nCino system. Regular interaction with prospective clients is a key aspect of this role, requiring the Underwriter to conduct thorough inquiries regarding financial performance, industry analysis, collateral, and working capital cycles. The Underwriter will also engage field examiners and appraisers, providing guidance on the scope of examinations and reviewing reports to identify potential collateral issues, ultimately setting appropriate advance rates and identifying ineligible collateral. The Underwriter will be accountable for maintaining compliance with all regulatory and compliance policies, completing required training, and ensuring adherence to applicable federal, state, and local laws and regulations. This position may also involve special projects and additional responsibilities as required, making it a dynamic and integral part of the lending team.

Responsibilities

• Prepares Deal Screen Summary by reviewing financial and collateral information and summarizing the company with anticipated loan structure.
• Prepares Credit Approval Memorandum combining analysis of the company, collateral, and financial information for Senior Management approval.
• Manages loan documentation, closing, and funding of new transactions, collaborating with attorneys and Operations.
• Meets with prospective clients to discuss financial performance, industry analysis, collateral, and working capital cycles.
• Reviews financial and collateral information to determine if the Bank should proceed to a deal screen memo.
• Engages field examiners and appraisers, providing guidance and reviewing reports to identify collateral issues.
• Performs special projects and additional duties as required, maintaining compliance with regulatory policies.

Requirements

• Undergraduate Degree (4 years or equivalent) in business, economics, or related field.
• Minimum of 6+ years in credit analysis at a bank or finance company.
• 4 years of specific Asset Based Lending experience.
• Experience using Moody's Risk Analyst Spread System or similar spreading tools.
• Experience in Financial / Credit Analysis.
• Excellent knowledge of financial spreading.
• Advanced proficiency with Microsoft applications including Excel and Word.
• Excellent knowledge of credit analysis and collateral analysis.
• Strong verbal, written, and interpersonal communication skills.
• Strong analytical skills with the ability to evaluate financial and collateral trends.
• Strong work ethic.

Nice-to-haves

• Credit training or field examiner experience preferred.