Together, CIT and First Citizens offer you the strength and stability of a diversified financial institution with a 125-year tradition of service and the personalized approach of a nimble financial partner. First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 550 branches in 23 states and commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets.
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.
The base pay for this position is relative to your experience but the range is $140,000 - $165,000. This position is eligible for variable compensation, which may be in the form of incentive, bonus, or commission pay. First Citizens offers a competitive, comprehensive benefits program which you can review here: .
- Bachelor's degree with 5 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