Due Diligence & Implementation Manager

Steel Partners • Salt Lake City, UT

1d

About The Position

WebBank (the “Bank”) is a Utah chartered Industrial Bank headquartered in Salt
Lake City, Utah.  As “The Bank Behind the Brand®”, WebBank is a national issuer
of consumer and small business credit products through Strategic Partner (Brand)
platforms, which include retailers, manufacturers, finance companies, software
as a service (SaaS) and financial technology (FinTech) companies.  The Bank is a
leading player in the digital lending space, driving innovation in financial
products through embedded finance with Strategic Partner platforms.  WebBank
engages in a full range of banking activities including consumer and commercial
loan products, revolving lines of credit, credit cards, private-label card
issuance, auto-refinancing and more. The Bank provides capital in the form of
asset-backed lending and other credit facilities to Strategic Partner platforms,
credit funds, and other lenders with a targeted focus on specialty finance
assets. The Bank is also a leading provider of commercial insurance premium
finance products through its wholly owned subsidiary National Partners and
Security Premium Finance, a wholly owned subsidiary of National Partners.

The Due Diligence Manager is responsible to lead the overall due diligence and
implementation process and drive the management/execution of new platform
transactions. The Manager reports to a Vice President of Due Diligence and
Implementation and is responsible for taking the lead role to handle all aspects
of the Prospective Strategic Partner onboarding process. The role is also
responsible for leading the process to incorporate new products with existing
Strategic Partner Programs into the Bank Program structure. The role shall be a
point of contact for each designated prospective Strategic Partner through
program launch. The position will interact both internally and to clients
externally in a leadership role and is supported by each respective department
within the Bank as well as third-party resources (e.g. outside counsel,
independent third-party specialists) that are involved throughout the due
diligence and implementation process.

Requirements

• Bachelor’s degree and 5+ years of overall experience in Banking or Financial Services with one or more of the following specialized experience: 2-3 years’ experience in project management and/or M&A transactions at a granular level
• 2-3 years’ experience managing and/or supporting client relationships or transactional experience involving financial institutions and Visa and/or MasterCard, including process architecture, and portfolio risk (M&A work in this area is applicable)
• 2-4 years’ experience preferable in operations or analytical support roles related to credit card or loan portfolio(s) management
• 2-3 years’ experience in transactional due diligence
• 2+ years’ experience in financial & regulatory compliance related activities and responsibilities
• 2-4 years’ experience in consumer and/or commercial credit activities
• Leadership experience in managing relationships and communications directly with C-Level Executives both internally and with third parties
• Strong decision-making skills with the ability to problem solve using sound reasoning and judgement
• Strong organizational and project management capabilities
• Strong verbal and written technical communication skills with high attention to detail
• Strong working knowledge of Microsoft Office, specifically advanced knowledge in Excel and Word
• Ability to build and maintain strong long-term working relationships
• Ability to work in a fast-paced, dynamic environment

Nice To Haves

• Master’s Degree in business related field
• Transaction experience with a consulting firm, law firm, investment bank, private equity firm or related services
• Experience evaluating transactional risk and providing analysis to executive leadership and board of directors

Responsibilities

• Be the lead point of contact for prospective strategic partners in order to manage the Bank’s in-depth due diligence and implementation processes through program launch
• Direct the management of the approval process of prospective strategic partners
• Develop, train, and manage designated Due Diligence and Implementation Analysts
• Be responsible for directing all aspects of the process related to underwriting and diligence of prospective strategic partners
• Perform review of documentation received from prospective strategic partners
• Manage all program documentation related to new and existing strategic partnerships
• Throughout the due diligence and implementation process, work closely with senior management and respective Bank departments (Compliance, Operations, Credit, Finance, and IT), as well as third party firms and outside legal counsel
• Support the Due Diligence and Implementation management team in managing the submission and presentment of proposed new strategic partner and strategic partner program approval memos to senior management, the Bank’s internal approval committee, and Board of Directors
• Manage all administrative aspects of the implementation of the program which includes: (1) coordinate process training between the Bank and the strategic partner, (2) ensure all remediation items from the due diligence and implementation process have been completed, (3) confirm relevant processes have been successfully tested (4) coordinate the review and approval of required program documentation, (5) maintain the implementation log and (6) lead program implementation metrics and reporting for both Bank and strategic partner executive management
• Lead the creation of internal approval memos by working with the respective departments to complete the various sections of the memo and compile them into the final approval memo
• Provide support in the preparation of new strategic partner product approval memos
• Support the Due Diligence management team to introduce and utilize new technology solutions
• Lead and engage in redesign, efficiency, optimization, and reporting efforts to continuously improve key processes
• Manage the scheduling of meetings and coordinate site visits, which includes creation of the agenda for the visit
• Responsible for tracking all items that require remediation identified during due diligence, the site visit, and third-party audits, as well as coordinating with the senior management team and partner to prioritize remediation items

Benefits

• Paid Time Off (PTO) - Generous paid time off plus paid parental leave
• Health insurance – Plans include an employer paid medical option, dental and vision coverage, plus we offer health savings accounts
• 401(k) – WebBank matches up to the first 6 percent of employee contributions and both the employee’s contributions and WebBank’s match are fully vested immediately
• Life and Disability Insurance – Life insurance and long and short-term disability insurance plans are 100% employer paid
• Tuition Reimbursement – WebBank provides reimbursement for classes needed to obtain certain degrees, up to $5,250 per academic year

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees