Vice President Commercial Underwriting Manager - Jersey City, NJ
Company: The Faulkner Organization
Location: Jersey City
Posted on: February 16, 2021
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Job Description:
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 JobThe 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 assignedQualification *
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.Benefits* Compensation package -
80,000 - 125,000* 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/SOWorld 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: The Faulkner Organization, Jersey City , Vice President Commercial Underwriting Manager - Jersey City, NJ, Executive , Jersey City, New Jersey
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