Wells Fargo

Job Category:

Credit/Loan, Wholesale


Chicago, Illinois


United States

Postal Code:


Approximate Salary:

Not Specified

Position Type:

Full Time


415) 820-7800

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CVG Program Credit Underwriter (Lending Officer 2)

Wells Fargo - Chicago, Illinois

Posted: 09/15/2018

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. Our nine 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 Securities, and the Investment Portfolio. 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 Equipment Finance (WFEF) is the largest bank-owned equipment leasing and finance company in the U.S. with a portfolio exceeding $45 billion, more than 250,000 active customers and 3,000+ team members with coverage in all 50 states and Canada. WFEF provides a full spectrum of financing and lease options for customers’ equipment and capital expenditure requirements through Wells Fargo business, commercial and corporate banking channels, relationships with equipment manufacturers, dealers, distributors and direct to market. WFEF has Industry and Asset-type specialists devoted to Construction Equipment, Commercial and Specialty Vehicles, Vendor Finance Programs, Technology Finance, Food, Beverage, Agriculture, Healthcare, Energy/Marine and Corporate Aircraft. It is the #1 non-captive lender for construction equipment and commercial vehicles.

The WFEF Commercial Vehicle Group (CVG) Program Credit Underwriter is responsible for the underwriting and management of titled vehicle vendor, leasing or finance company, and third party origination programs where there is high reliance on the program counterparty.

Primary responsibilities include the preparation of a comprehensive Approval Memo or Annual Review covering all aspects of program risk, as well as ongoing monitoring of program performance. This is performed in coordination with multiple WFEF departments including Sales, Legal, Program Servicing, Program Audit, Contract Administration, Accounting and Equipment Management. This position will make appropriate recommendations to Senior Management regarding credit exposure, customer risk ratings, program structures and disposition of audit findings. A key role is to support, coordinate and respond to the results of audits performed by WFEF Program Audit.

Specific responsibilities include the investigation and financial analysis of program counterparties to determine their ability to fulfill their respective obligations within titled vehicle finance programs. This requires an in-depth understanding of financial statements, program structures (recourse, servicing, etc.), vendor reporting capabilities, legal aspects of program documentation, equipment and insurance-related risks, tax and accounting issues, general operational issues and procedures associated with programs, as well as understanding the underlying portfolio credit characteristics of end users and contract structures. This position coordinates all relevant activities with the functional departments, and Senior Sales and Credit Management.

The level of this position is one of the most senior staff underwriting levels within WFEF credit and candidates are expected to demonstrate strong team work and leadership skills.

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 all 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

  • 7+ years of lending experience
Desired Qualifications

  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy
Other Desired Qualifications
  • Equipment finance experience

  • 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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