Calling those wanting to begin or continue a career in the factoring industry!
Security Business Capital is currently hiring for one full-time position:
Senior Underwriter
JOB OVERVIEW:
The Senior Underwriter will be in charge of overall Underwriting policy development and implementation, adherence to all policy and procedures and exception reporting. The Senior Underwriter will ensure initial funding conditions are complied with, execution of legal documentation, implementation and maintenance of lien searches, and execution of first security interest including liaison with attorneys over subordination agreements. Work with President of SBC on preparation of monthly portfolio and board reporting as it relates to credit and underwriting. The Senior Underwriter will ensure that underwriting policies are maintained current, portfolio asset quality is maintained in line with operational objectives, clients comply with ongoing reporting requirements and the evaluation of such reporting.
KEY ACCOUNTABILITIES
- To ensure that the credit approval request has been prepared in line with Credit Policy and reflects a balanced and detailed assessment of the risk proffered from the proposed client relationship.
- To coordinate the client take on, underwriting and initial funding processes to ensure a timely and expeditious execution of a new business transaction in line with client’s expectations while remaining compliant with credit/underwriting Policy.
- To ensure all conditions set out in the Credit Approval Request are followed at the initial funding and that the initial funding complies with the Credit/Underwriting Policy.
- To ensure that a first security interest is enacted on all new facilities including the identification of liens, garnishments, other security interests and ensuring subordination and inter-creditors are executed as appropriate.
- Ensure that credit resources are researched and assessed so that SBC is utilizing best practice in credit research and assessment.
- To champion the Credit/underwriting Policy and its adoption with the business unit.
KEY RESPONSIBILITIES
- Coordinate and analyze results of due diligence searches, audits, and background reports.
- Where appropriate and in support of the new business staff interview the prospective client’s management team onsite.
- Collate and review prospective client’s historical and projected financial statements, cash flows, tax returns, A/R agings and similar documentation ensuring accurately reflected in Credit Approval Request.
- Identify critical transactional/structural risks and communicate issues.
- Completion of the Credit Approval Request in compliance with Credit Policy in collaboration with the business development team member.
- Facilitate the effective hand over of new client to Account Manager servicing the facility including the identification of key risks and operating conditions.
- Coordinate internally and externally; including with third-parties such as existing lenders, partner lenders, appraisers, outside counsel and industry consultants in regards to underwriting and credit
- Undertake project work as required by SBC
- Coordinate the initial funding of transactions including the closing/reconciliation of good faith deposits and the preparation of initial funding documentation along with primary and supplementary documentation.
- To ensure that best practice is both shared and implemented within SBC.
KEY SKILLS
- Proven ability to review collateral, financial performance and projections.
- High attention to detail.
- Organizational skills essential.
- Strong skills and experience regarding transaction structuring.
- High level of familiarity with documentation specific to factoring facilities.
- Ability to build internal and external relationships. Work in a fast moving team environment.
- Must be able to manage several projects in varying stages at the same time.
- Must be able to take ownership / responsibility of work product.
- Consistent and timely follow up essential.
- Strong oral and written communication skills.
- Two years’ experience with credit and underwriting potential client and debtors in the Factoring Industry.
Click here to apply!
