Senior Underwriter/Portfolio Manager - Sponsor

First Citizens Bank • New York, NY

9h • Hybrid

About The Position

First Citizens Sponsor Finance provides cash flow and asset-based senior debt for private equity-backed middle-market and lower-middle-market transactions throughout the United States. The Senior Underwriter/Portfolio Manager works within a small, growing group and takes a lead role in credit underwriting and portfolio management across diverse debt solutions for private equity-backed middle-market companies. Transactions include LBO financing, acquisition financing, debt refinancing, and recapitalizations. The role combines portfolio management with work on new underwriting prospects and involves collaboration with borrowers, private equity teams, other lenders, and internal colleagues.

The position underwrites new and existing sponsor accounts, analyzes financial and industry information, recommends borrower risk ratings and loan structures, and manages assigned credits. Portfolio responsibilities include monitoring performance and covenant compliance, handling add-on financing requests and credit amendments, maintaining accurate risk ratings and reviews, and preparing credit files for audits and regulatory reviews. The role also maintains client relationships, serves as a primary contact for borrower CFOs and Controllers, and may manage bank-group syndicates when First Citizens is Administrative Agent.

Requirements

• Bachelor’s degree and 6 years of experience, or high school diploma/GED/equivalent and 10 years of experience, in credit analysis, underwriting, or risk management.
• Thorough understanding of credit, structuring, legal, and collateral requirements.
• Ability to function independently and as part of a deal team.
• Demonstrated deal-structuring, analytical, and quantitative skills.
• Strong writing, communication, and presentation skills.
• Time-management skills to handle multiple tasks with changing priorities.
• Ability to anticipate and solve problems, take initiative to move processes forward, and make recommendations.
• Strong working knowledge of Microsoft Excel and the ability to build and analyze complex financial models with assumption drivers appropriate to a business model and industry.
• Strong analytical, quantitative, credit, and problem-solving skills.

Nice To Haves

• Bachelor’s degree in business, economics, or finance.
• At least 6 years of underwriting experience in commercial or leveraged lending within financial institutions.
• Experience negotiating documentation and/or credit agreements.
• Completion of a formal credit training program.

Responsibilities

• Underwrite new and existing Sponsor accounts in accordance with applicable regulations, procedures, and guidelines.
• Review financial statements, communicate with clients or prospects, and analyze credit to recommend borrower risk ratings and appropriate loan structures.
• Keep all parties involved updated on underwriting progress and outcomes.
• Provide guidance to less experienced underwriters on underwriting procedures and information needs.
• Manage assigned portfolios by monitoring performance and trends, defining client credit solutions, identifying issues, and following through on remediation.
• Serve as a primary contact for borrowers’ CFOs and Controllers and manage bank-group syndicates when First Citizens is Administrative Agent.
• Monitor individual accounts for performance and covenant-compliance trends.
• Underwrite add-on financing requests, waivers, and amendments.
• Ensure accurate and timely portfolio risk ratings, annual reviews, and financial-statement spreading.
• Train and mentor junior resources.
• Maintain credit files in preparation for internal or external audits, compliance reviews, and regulatory reviews.
• Maintain ongoing communication with assigned loan clients, strengthen relationships, and monitor client satisfaction.
• Source, compile, and interpret financial data to support loan structuring and approval.
• Review industry information, comparisons, key risks and mitigants, and collateral to develop a general business overview of borrowers.
• Identify risks through reviews, analysis, and research of new and existing loans, and work with Bank associates and partners to resolve risk issues.
• Communicate review schedules and potential portfolio changes, and help coordinate review and renewal schedules for existing credits.

Benefits

• The benefits program is described as competitive, thoughtfully designed, and intended to meet associates’ needs.
• Total compensation for some roles may include variable incentives, bonuses, benefits, and/or other awards.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior