Senior Underwriter - VP

Peapack-Gladstone Bank - Bedminster, NJ

Full-time - Senior

Bedminster, NJ

Credit Intermediation and Related Activities

About the position

The Senior Underwriter - VP position is a critical role within the underwriting department, focusing on the structuring, underwriting, and ongoing monitoring of commercial real estate loans. This position requires a deep understanding of financial analysis, risk assessment, and the ability to work collaboratively with various stakeholders, including senior underwriters and commercial private bankers. The successful candidate will be responsible for completing loan approval packages that encompass comprehensive financial and cash flow analysis, stress testing, collateral valuation, and the identification and mitigation of potential risks associated with the loans being underwritten. In addition to underwriting responsibilities, the Senior Underwriter will engage in the ongoing collection of updated financial information from borrowers, ensuring compliance with covenants and monitoring any factors that may impact the creditworthiness of clients, such as tax obligations and building violations. This role also involves customer retention efforts, which may include client visits to strengthen relationships and ensure satisfaction with the lending process. The Senior Underwriter will conduct annual and periodic reviews of a designated portfolio of commercial real estate clients, ensuring that these reviews are performed accurately, timely, and effectively. This includes identifying emerging risks and assigning appropriate risk ratings to the portfolio. Furthermore, the role provides portfolio-level support and expertise during internal audits, external audits, and regulatory examinations related to the commercial real estate lending portfolio. An essential aspect of this position is the development and coaching of junior team members. The Senior Underwriter will provide guidance and mentoring to less experienced staff, fostering their professional growth and ensuring a high standard of work within the team. Additional projects and responsibilities may be assigned as needed, contributing to the overall success of the underwriting department and the organization as a whole.

Responsibilities

• Responsible for structuring, underwriting, and ongoing monitoring of commercial real estate loans.
• Complete loan approval packages including financial/cash flow analysis, stress testing, collateral valuation, and risk mitigation.
• Work with commercial private bankers to review loans and collect updated financial information.
• Monitor compliance with covenants and other factors affecting borrower creditworthiness.
• Perform annual and periodic reviews of a designated portfolio of commercial real estate clients.
• Identify emerging risks and assign appropriate risk ratings during portfolio reviews.
• Provide support and expertise for internal and external audits and regulatory examinations.
• Develop and coach junior team members, providing guidance and mentoring as needed.
• Manage additional projects and responsibilities as assigned.

Requirements

• Extensive experience in underwriting commercial real estate loans.
• Strong financial analysis skills, including cash flow analysis and stress testing.
• Ability to assess and mitigate risks associated with commercial loans.
• Experience in client relationship management and customer retention efforts.
• Knowledge of compliance requirements and covenant monitoring.
• Strong communication and interpersonal skills for effective collaboration with team members and clients.
• Experience in mentoring and developing junior staff.

Nice-to-haves

• Familiarity with regulatory requirements in commercial real estate lending.
• Experience with portfolio management and risk assessment tools.
• Advanced degree in finance, business, or a related field.