WSFS Financial - Philadelphia, PA

posted 3 days ago

Full-time - Mid Level
Philadelphia, PA
Management of Companies and Enterprises

About the position

The position involves underwriting middle ticket transactions ranging from $100,000 to $1,000,000 in accordance with NewLane's Credit Policies and Procedures. The role requires a comprehensive analysis of equipment finance requests by reviewing various business financial statements, including income statements, cash flow statements, balance sheets, tax returns, personal financial statements, and collateral appraisal reports when available. The candidate will perform financial spread and analysis to assess the applicant's overall financial condition and repayment capacity. Based on this assessment, the candidate will provide individual credit recommendations and prepare presentations for Senior Management or the Credit Committee when necessary. The role also includes reviewing third-party commercial reports and collaborating with Risk Analytics and Senior Credit Management to manage approval rates and monitor portfolio performance. Additionally, the candidate will assist in implementing changes to credit policies, mentor the credit underwriting team, and build relationships across functional departments.

Responsibilities

  • Directly underwrite middle ticket transactions ($100,000 to $1,000,000) in accordance with NewLane's Credit Policies and Procedures.
  • Provide concise analysis of equipment finance requests by reviewing business financial statements.
  • Perform financial spread and analysis of business financial statements and tax returns.
  • Provide individual credit recommendations based on assessment of applicant's profile.
  • Prepare and present recommendations to Senior Management or Credit Committee.
  • Review and interpret third party commercial reports and consumer reports.
  • Work closely with Risk Analytics and Senior Credit Management to manage channel approval and conversion rates.
  • Assist with implementing changes to Credit Policies and Procedures.
  • Build and develop the NewLane Middle Market underwriting team as volume dictates.
  • Provide mentorship and guidance to credit underwriting team.
  • Work with Sales counterparts to promote a win/win Credit and Sales culture.
  • Build and maintain collaborative relationships with NewLane Management team across all functional departments.
  • Participate in Senior Leadership meetings, contributing thoughts and ideas.
  • Lead and own recruiting and hiring efforts for Middle Market credit underwriting team when needed.
  • Manage multiple projects simultaneously while ensuring efficient completion within established timeframes.
  • Facilitate and conduct calls directly with customers to obtain additional information when needed.
  • Perform fraud checks and due diligence while underwriting new equipment finance requests.
  • Understand and uphold NewLane's audit procedures and internal controls.

Requirements

  • Bachelor's degree in Finance, Economics, Accounting or related business fields required.
  • 5+ years of related experience required, preferably within commercial equipment financing or leasing industry.
  • Experience with interacting with bank examiners and third party audit firms.
  • Ability to understand and interpret business tax returns, financial statements, and business concepts.
  • Proficient in Microsoft Office Suite including Excel and computer literacy skills required.
  • Good working knowledge of other functional departments and their interactions with the Credit department.
  • Strong interpersonal skills and ability to leverage relationship building skills.
  • Customer service focus and a professional approach to servicing B2B relationships.

Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • 401k with match
  • Flexible spending account
  • Life Insurance
  • Short Term Disability Insurance
  • Long Term Disability Insurance
  • Generous PTO
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