Wells Fargo

Location:

Chicago, Illinois

Country:

United States

Postal Code:

60290

Approximate Salary:

Not Specified

Position Type:

Full Time

Phone:

415) 820-7800

ABL Underwriter 2

Wells Fargo - Chicago, Illinois

Posted: 10/11/2018

Job Description

At Wells Fargo, we have one goal: to satisfy our customers’ financial needs and help them achieve their dreams. We’re looking for talented people who will put our customers at the center of everything we do. Join our diverse and inclusive team where you’ll feel valued and inspired to contribute your unique skills and experience.

Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.

Wholesale Banking provides financial solutions to businesses across the United States and globally, with annual sales generally in excess of $5 million. Our 10 major business lines include Business Banking, Middle Market Banking, Government and Institutional Banking, Corporate Banking, Commercial Real Estate, Financial Institutions Group, Wells Fargo Commercial Capital, Wells Fargo Insurance, Wells Fargo Securities, and Principal Investments. We also have groups in credit risk, group risk, finance, marketing, human relations, and the Wholesale Chief Operating Office that support our businesses.

Wells Fargo Commercial Distribution Finance provides inventory financing solutions, service and intelligence through in-depth industry expertise and a commitment to customers. As a leading provider in specialized financing and servicing solutions, CDF delivers when it comes to helping facilitate the manufacturing, distribution and sale of products across a variety of industries from Powersports, Marine and Recreational Vehicles, to Outdoor Lawn & Garden, Agriculture, Technology, and Electronics & Appliances.

The Asset Based Lending Underwriter position will be responsible for completing customer due diligence in accordance to corporate policy, conducting research, financial modeling and analysis and managing documentation for commercial transactions for the pay as sold and scheduled pay plan business (formerly GE Capital). Responsibilities will include: underwriting of manufacturer floor plan lending transactions, analyzing customer financial performance (both historical and future), and identifying relevant business, market and other commercial risks faced by the customer. The ABL Underwriter reviews documentation to determine credit worthiness. Preparing risk assessments (credit write ups) using results of analysis, and makes decision to grant or decline credit.

Primarily focused on deals with credit lines >$10MM

  • Negotiate terms and conditions for transactions and work with deal teams to ensure appropriate documentation is in place.
  • Underwrite new deals, manage existing commercial accounts, perform rigorous analysis of transactions, and resolve problem accounts in partnership with deal teams.
  • Prepare risk assessments and present to senior management with a clear and consistent approach to mitigate risks.
  • Interface with customers to obtain needed information, resolve credit related issues, and minimize potential losses.
  • Monitor accounts (along with the account team) to ensure on-going compliance with loan agreements.
  • Comply with policy and regulatory requirements.
  • Other projects and assignments as requested including, but not limited to, portfolio analysis to ensure compliance and portfolio reporting.

Team members support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.

Required Qualifications

  • 5+ years of commercial lending and underwriting experience
Desired Qualifications

  • A BS/BA degree or higher in accounting, finance, or economics
  • Ability to work and influence successfully within a matrix environment and build effective business partnerships with all levels of team members
  • Leadership skills including; coaching, training, and mentoring
  • Excellent verbal, written, and interpersonal communication skills
Other Desired Qualifications
  • Experience in cash flow analysis, collateral analysis, and financial analysis
  • Strong analytical skills with the ability to analyze unstructured/complex problems using quantitative analysis
  • 8+ years of experience in underwriting or portfolio management of inventory financing, commercial lending or equipment leasing products
  • Ability to create and deliver presentations to executives and external clients
Disclaimer

  • All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.

    Relevant military experience is considered for veterans and transitioning service men and women.
    Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.

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