Senior Underwriter, High Net Worth Tailored Lending

Royal Bank of Canada•Raleigh, NC

10h•Onsite

About The Position

As a Senior Underwriter for US Wealth Management High Net Worth Tailored Lending, you will be responsible for underwriting Tailored Loans for US clients. These loans will encompass various collateral types including Securities Based Loans, Unsecured loans, Life Insurance Premium Financing, Commercial Real Estate, Residential Real Estate, Yacht, and Aircraft. Your role will also involve contributing to annual reviews, amendments, waivers, and renewals. You will collaborate closely with Loan Administration and Servicing teams to ensure accurate deal booking and covenant monitoring. Additionally, you will support the Tailored Lending underwriting team, as well as RBC’s US HNW Tailored Lending Bankers and Financial Advisors, by pre-screening credit facilities and reviewing terms to ensure alignment with the firm’s credit policies, risk appetite, and risk framework.

Requirements

Bachelor’s degree preferably in Finance, Economics, Business or a related field
5 or more years of prior credit risk experience, ideally covering wealth management in the US
Prior experience in private client, commercial or corporate account management, credit administration and/or risk management
Familiarity with various forms of UHNW tailored loans including Securities Based Lending, recourse commercial real estate, Life Insurance Premium Financing, and Alternative Investments
A proven record of sound risk assessment, analytical skills, and judgment
A demonstrated ability to pro-actively develop and implement policies and procedures that meet US regulatory expectations and a full knowledge of the process inherent therein
Process oriented to help drive efficiencies while ensuring effective controls are developed and adhered to
A team player with good interpersonal skills, and ability to work directly with Lending Advisors, Financial Advisors, clients, risk officers, operations, internal auditors and regulators
Excellent organizational skills and the ability to tight timetables, completing priorities and multi-tasking

Nice To Haves

Availability to travel: 10-15% of the time

Responsibilities

Partner with HNW Lending Bankers, Financial Advisors and senior members of the underwriting team to review tailored loan credit requests; provide guidance and feedback on initial flash terms and term sheets
Perform initial credit due diligence, spread financial data, and run credit models to propose initial borrower and guarantor risk ratings and loss given defaults
Draft ETRs (Credit Memos) summarizing credit requests, sources and uses, primary and secondary sources of repayment, key risks and mitigants, and ultimate credit recommendation
Keep HNW Lending Advisors informed of underwriting progress and immediately notify them of adverse issues and needed structural changes
Work with lender’s counsel to ensure loan documentation properly reflects agreed business terms and conditions
Prepare materials and participate in Approval To Pitch and Capital Commitments Committees
Liaise with Group Risk Management and obtain decisions that fall outside of delegated authority
Partner with loan servicing team to ensure loans are properly booked and funded
Review periodic financial disclosures, participate in annual or interim reviews, loan renewals, as appropriate, maintaining timely and accurate risk ratings and classifications
Review covenant compliance reporting and work with HNW Lending Bankers, FAs, Clients and GRM to promptly action any breaches
Partner with Reporting and Analytics teams to develop and present quarterly portfolio reviews