Wells Fargo

Location:

Chicago, Illinois

Country:

United States

Postal Code:

60290

Approximate Salary:

Not Specified

Position Type:

Full Time

Phone:

415) 820-7800

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Junior Program Underwriter, Equipment Finance

Wells Fargo - Chicago, Illinois

Posted: 09/16/2018

Job Description

At Wells Fargo, we want to satisfy our customers’ financial needs and help them succeed financially. 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 Commercial Capital (WFCC) combines Wholesale’s secured lending businesses including Asset Backed Finance (ABF), Commercial Distribution Finance (CDF), Corporate Trust Services (CTS), Wells Fargo Capital Finance (WFCF) and Wells Fargo Equipment Finance (WFEF). This consolidated group of businesses helps customers leverage their company’s assets into flexible financing solutions. WFCC is a leading contributor to Wholesales revenue, assets, and net income.

Wells Fargo Equipment Finance (WFEF) is a leading bank-owned equipment leasing and finance company in the U.S. with a portfolio exceeding $48.9 billion, more than 133,000 active customers and 1,100+ 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 and distributors and direct to market. WFEF has Industry and Asset-type specialists devoted to Construction Equipment, Commercial and Specialty Vehicles, Healthcare, Energy/Marine, Solar, Vendor Finance Programs and Corporate/Private Aircraft.

The WFEF Commercial Vehicle Group (CVG) Junior Program 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.

Selected candidates will be active in several key aspects of WFEF’s business, including the preparation of approval memos and annual reviews covering all aspects of program risk and the ongoing observation of program performance, exposure determinations, BQR assignments, and other analyses of customer credit. Other activities include portfolio monitoring and report preparation (asset and customer), industry research, and compliance-related activities. Primary responsibilities include:

  • Providing support to senior underwriters and participating in projects and initiatives to identify and mitigate credit risk across the WFEF portfolio;
  • Spreading financial statements; planning and performing fundamental credit and risk analyses on program counterparties; conducting company and industry-specific research; composing multi-page written reviews and documentation of financial transactions, performing background and analytical work to support recommendations/conclusions; completing projects to address a variety of business issues;
  • Performing analyses of findings and trends using financial and/or statistical analysis in BQR assignments and annual reviews of new and existing customers;
  • Regularly producing assigned reports and tracking activities, as well as developing and producing specific, customized reports, and presentations for senior management;
  • Coordinating cross-functionally with Wells Fargo associates in both client-facing and back-office roles across various areas of the bank, including sales, legal, audit;
  • Ensuring adherence to and compliance with all relevant Wells Fargo and department-specific policies and procedures.

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

  • 4+ years of underwriting experience
Desired Qualifications

  • Intermediate Microsoft Excel skills
  • Strong organizational, multi-tasking, and prioritizing skills
  • Commercial loan experience
  • Excellent verbal, written, and interpersonal communication skills
  • Strong analytical skills with high attention to detail and accuracy
Other Desired Qualifications
  • Experience in underwriting publicly-traded and/or large, privately-held companies
  • Team-oriented
  • Strong work ethic
  • Equipment Finance background or experience
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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