Director of Credit Underwriting

Bankwell Financial Group•New Canaan, CT

15h•Onsite

About The Position

The Director of Credit Underwriting position is a senior leadership position in Bankwell and will plan, direct, coordinate, and oversee daily operations, workflow, and other activities of the Credit Underwriting department, and ensure that there is a consistent application of the Bank’s Loan Policy. Responsibilities include: Lead the overall credit underwriting function to ensure timely and accurate analysis of loan opportunities. Responsible for monitoring loan maturities and coordinating with Private Client Group (PCG) management to ensure timely renewal analysis and minimize the number of administrative extensions Responsible for appropriate identification and application of policies. Leads a team of 7 and is accountable for team management including but not limited to all staffing, training, and performance management of Credit Underwriting team. Establishes, implements, and monitors internal controls to minimize credit risk in collaboration with Director of Credit Risk Management, PCG and Small Business Administration (SBA) team management. Serves as a resource for structuring deals, identifying and approving Loan Policy exceptions prior to term sheet issuance and during underwriting, ensuring concentration limit compliance and regulatory compliance Provides leadership and guidance on policies and procedures. Recommends changes/updates as appropriate. Participates in audit, regulatory examination and loan review preparation as necessary Attends Directors Loan Committee regularly and interfaces with members as required. Collects documentation and prepares Directors Loan Committee packages and disseminates to members and invitees. Provides Board materials to Executive Administrator for inclusion in Board packages Ad hoc projects as needed.

Requirements

Minimum 10+ years’ experience in commercial credit at a commercial bank, credit union, or other lending institution.
Must be formally credit trained either through participation in another bank’s training program or industry or higher education training program.
Minimum of 7 years of direct team leadership experience.
Ability to function effectively, efficiently, and independently in a fast-paced and rapidly expanding environment.
Strong sense of integrity and personal ethics.
Strong verbal and written communication skills.
Adheres to all applicable Policies and Procedures.
Bachelor’s degree required with a focus in either finance or accounting preferred, related Master’s degree program in finance or accounting or commensurate experience.
Familiarity with Loan Operating System or Credit Underwriting Software such as Abrigo preferred.
Compliance with banking regulations including BSA, consumer protection regulations, and OFAC sanctions.
Completion of compliance training and adherence to policies and procedures for applicable regulations based on role.

Nice To Haves

Experience as a lender is a plus.

Responsibilities

Lead the overall credit underwriting function to ensure timely and accurate analysis of loan opportunities.
Monitor loan maturities and coordinate with Private Client Group (PCG) management to ensure timely renewal analysis and minimize the number of administrative extensions.
Ensure appropriate identification and application of policies.
Lead a team of 7 and be accountable for team management including all staffing, training, and performance management of the Credit Underwriting team.
Establish, implement, and monitor internal controls to minimize credit risk in collaboration with Director of Credit Risk Management, PCG and Small Business Administration (SBA) team management.
Serve as a resource for structuring deals, identifying and approving Loan Policy exceptions prior to term sheet issuance and during underwriting, ensuring concentration limit compliance and regulatory compliance.
Provide leadership and guidance on policies and procedures, recommending changes/updates as appropriate.
Participate in audit, regulatory examination and loan review preparation as necessary.
Attend Directors Loan Committee regularly and interface with members as required.
Collect documentation and prepare Directors Loan Committee packages and disseminate to members and invitees.
Provide Board materials to Executive Administrator for inclusion in Board packages.
Handle ad hoc projects as needed.
Establish underwriting standards – develop, implement, and refine underwriting guidelines and credit procedures for complex commercial loan products.
Exercise authority – independently approve, decline or recommend credit actions up to specified limits.
Optimize workflow – manage and streamline the loan underwriting pipeline to ensure efficiency and meet turnaround time (SLA) requirements.
Influence credit culture – model and reinforce the Bank’s credit culture and risk management approaches throughout the organization.
Partner with the Private Client Group Managers and sales teams to achieve portfolio growth goals while ensuring prudent underwriting.
Provide expertise in loan structuring, covenant negotiation and financial modeling for complex transactions.
Ensure all credit actions adhere to internal policies, procedures and regulatory requirements (exams, audit, loan review).