Wells Fargo is seeking a Secured Lending Underwriter (Underwriting Associate) for the Corporate Asset Based Lending Underwriting group. This group is focused on underwriting transactions for large corporate clients, including public companies, private equity backed companies, and larger privately owned businesses with revenue and EBITDA generally in excess of $1B and $100MM, respectively. Facility sizes range from $100MM to $1B+. This individual is expected to work closely with Corporate and Investment Banking, Commercial Banking, Leverage Finance and other lines of business under Wells Fargo Credit Solutions to build strong relationships and enhance credit and other economic opportunities with prospective customers. This individual will be responsible for assisting in the underwriting and closing of a variety of complex transactions including preparing in-depth historical and projected cash flow analysis in connection with underwriting and closing loans that bridge capital markets transactions for mergers and acquisitions, dividend recapitalizations, and restructuring transactions. This individual will work in partnership with senior employees on all aspects underwriting new business transactions.
In this role, you will:
Analyze and understand collateral, historical and projected financial statements, cash flows, liquidity, relevant valuation metrics, and market significance
Assist with the due diligence process, including the coordination and analysis of third-party due diligence including collateral focused field examinations; inventory, equipment, real estate, and intellectual property appraisals; environment assessments; quality of earnings review; and background investigations
Identify critical transactional and structural risks, complete in-depth diligence on critical focus areas
Assist with comprehensive credit approval and funding memos with minimal supervision.
Accurately complete all compliance requirements including leverage lending, high risk borrowers, exception tracking, risk ratings, and financial crimes.
Schedule pre-funding audits (if applicable) and coordinate the initial funding with Treasury and Operations sufficiently in advance of the estimated closing date to ensure no delays occur.
Oversee seamless onboarding of new clients in coordination with Portfolio Management.
As requested assist with screening prospects and special projects.
Take personal accountability for understanding and delivering on your goals and commitments
Required Qualifications:
2+ years of specialty industry lending underwriting experience, or equivalent experience demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
Prior asset-based lending or field exam experience
Strong understanding of accounting
Prior financial / cash flow modeling experience
Demonstrated working knowledge of lending and corporate finance
Effective written and verbal communication skills
Proficiency in Word, Excel, and PowerPoint
Ability to work in a highly collaborative work environment
Job Expectations:
This position offers a hybrid work schedule.
Willingness to work on-site at stated location on the job opening
Compensation by Location:
Boston, MA, New York, NY -$87,700.00 - $155,900.00
Chicago, IL, Los Angeles, CA $80,400.00 - $143,000.00
Atlanta, GA, Dallas, TX $73,100.00 - $129,900.00
Pay Range
Reflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to achievements, skills, experience, or work location. The range listed is just one component of the compensation package offered to candidates. $73,100.00 - $155,900.00 Benefits
Wells Fargo provides eligible employees with a comprehensive set of benefits, many of which are listed below. Visit Benefits - Wells Fargo Jobs for an overview of the following benefit plans and programs offered to employees.
Health benefits
401(k) Plan
Paid time off
Disability benefits
Life insurance, critical illness insurance, and accident insurance
Parental leave
Critical caregiving leave
Discounts and savings
Commuter benefits
Tuition reimbursement
Scholarships for dependent children
Adoption reimbursement
Posting End Date: 17 Oct 2024 * Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees 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.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .
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Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
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b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.