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Vice President Commercial Underwriting Manager - Jersey City, NJ

Company: World Business Lenders, LLC
Location: Jersey City
Posted on: February 15, 2021

Job Description:

Vice President Commercial Underwriting Manager - Jersey City, NJ remote Jersey City, New Jersey, United States Full time About World Business Lenders (www.wbl.com) World Business Lenders provides general purpose short-term real estate collateralized commercial loans to a broad customer base comprised of small and medium sized businesses throughout the country. With its unique business model, and disciplined approach to underwriting and risk management, WBL is committed to creating a pre-eminent brand that focuses on helping small businesses identify opportunities to grow. As a matter of corporate governance, the company is steadfast in maintaining diversity in its workforce and boardroom, embracing its social responsibility and strengthening its ties to the communities it serves. . About the Job: The Commercial Underwriting Manager will be responsible for the supervision of a team of Assistant Underwriters and Credit Analysts that process small business loan applications for recommendation and approval by delegated authorities within the Company and its Investment Committee. This individual will be well-versed and possess extensive knowledge of all phases of consumer and business loan processing including loan production, processing, underwriting and closing procedures. While possessing knowledge relative to the entire operation, the Underwriting Manager will be expected to continually work with Loan Production, Credit Analysts and the Investment Committee to further develop quality of credit presentations and decisions. The candidate will be expected to introduce operational innovations and efficiencies and assist in the management of the loan pipeline on an ongoing basis. The individual should be able to make sound credit decisions using experience, judgment and an acquired knowledge of commercial lending in conjunction with the Company's guidelines and processes. Requirements

  • Oversee the staff and functionality of loan processing, coordinating and completing daily work assignments and performing pipeline reviews.
  • Review credit analysis prepared by staff to determine suitability to support a credit recommendation
  • Structure and underwrite complex credit applications in a manner which achieves profitability goals while staying within risk parameters.
  • Review and analyze bank statements, financial statements, tax returns and cash flow statements of borrowers and guarantors as needed to support credit recommendations.
  • Training credit operations processing staff to produce high quality credit analyses.
  • Ensure that commercial applications are underwritten in accordance with WBL's policies and procedures.
  • Ability to understand and analyze purchase contracts, title reports and AVM/BPO/property appraisals.
  • Serve as second signature for concurring approval recommendations and denials
  • Stay abreast of competition in the industry, its products, philosophies, distribution systems and market trends, and communicate such information within the Investment Committee.
  • Proactively work to streamline commercial loan operations.
  • Validate that all WBL commercial underwriting guidelines have been met prior to submitting files to the Investment Committee for signoff and approval.
  • Other projects and duties as assigned Qualification:
    • BA/BBA/MBA strongly preferred
    • Experience underwriting with a Hard Money Lender
    • Completion of a major corporate bank credit training program (or equivalent corporate banking/corporate finance experience) required.
    • Minimum of 5 to 8 years' banking/lending (real estate, C&I and/or small business lending) experience, which might include credit, structuring and marketing.
    • 3-5 years' experience as a CRE or C&I Underwriter desired.
    • Significant accounting and finance knowledge, and commercial banking experience.
    • Excellent communication skills, including the ability to be a good listener.
    • Ability to (1) be diplomatic yet confident and assertive in doing what is right, and (2) clearly, concisely articulate your view/position to Executive management.
    • Demonstrated superior verbal and written skills, interpersonal skills, and analytical, problem solving skills.
    • Proven ability to effectively lead and manage a team. --- Vacation/holiday pay and 401(k) Plan with company match after 90 days; benefit package (Medical/Dental/Vision coverage, Life/Accident/Short-Term Disability insurance) on first of the month following or coincident with 60 days; Commuter Benefit Plan and EAP immediately upon hire. EOE M/F/D/V/SO World Business Lenders does not sponsor work visas for this position. World Business Lenders participates in E-Verify and will provide the federal government with your Form I-9 information to confirm that you are authorized to work in the United States

Keywords: World Business Lenders, LLC, Jersey City , Vice President Commercial Underwriting Manager - Jersey City, NJ, Executive , Jersey City, New Jersey

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