Specialty Finance Senior Underwriter - Fund Finance

Dime Community Bank • New York, NY

240d • $160,000 - $175,000 • Onsite

About The Position

Dime is currently hiring for a Specialty Finance Senior Underwriter - Fund Finance at one of its Midtown Manhattan offices. The Specialty Finance Senior Underwriter - Fund Finance specializes in the evaluation of the credit worthiness of investors/sponsors and their ability to satisfy their capital calls/repay. This portfolio is comprised of loans that are advanced and monitored using borrowing base formulas, including the Fund Finance Subscription Lines, Capital Calls Lines and portfolio leverage loans. The role also facilitates the transaction requests under the approved facilities including those used to provide liquidity for alternative investment managers. The role ensures appropriate protocols are implemented and followed. Underwriting is prepared in Sageworks in accordance with Dime's Credit Policy, applicable procedures, and regulations. Salary commensurate with experience, ranging from $160,000 to $175,000 annually. The exact compensation may vary based on relevant experience, skills, education, training, licensure and certifications, and location. All applicants must attach a recent resume. This may be a hybrid role (4 days in office/1 day remote). Dime does not provide relocation assistance or visa sponsorship (now or in the future).

Requirements

• Bachelor's degree in business-related field and minimum 7 years' underwriting / credit / commercial banking / lending experience preferably in middle market banking; or equivalent combination of education and experience.
• Previous experience in Fund Finance underwriting required.
• Strong financial and credit analysis capabilities; strong understanding of loan risk factors.
• Demonstrated ability to independently gather, consolidate, analyze, and summarize data and make recommendations for all levels of commercial credit relationships.
• Good interpersonal skills working with loan officers, credit officers, clients, and executive management.
• Excellent oral and written presentation and communication skills.
• Ability to thrive in a fast-paced environment with multiple competing priorities and ability to work under pressure and set the right priorities in a dynamic environment.
• Self-motivated and detail-oriented.
• Working knowledge of Abrigo/Sageworks End-to-End software system preferred.
• Strong knowledge of Legal Documentation.

Responsibilities

• Provide unbiased, objective, and thorough underwriting analysis for new and existing credit proposals to Fund Finance (Subscription Lines, Capital Call Lines of Credit, Management Company Lines, NAV Facilities, and GP Loans).
• Conduct in-depth cash flow analyses to evaluate borrower's loan repayment ability; this includes awareness of future Borrower impact from changes within the regulatory environment while also identifying risks of the Borrower and Private Equity industry.
• Analyze balance sheets, Borrowing Base Reports and gauge financial strength of Investors/Sponsors, Equity Partners and other applicants.
• Determine appropriate Credit Risk Ratings using Dime's internal tools and matrices.
• Review and analyze Fund documents and structures onshore and offshore.
• Establish appropriate loan covenants, monitoring requirements and closing conditions.
• Collaborate with external counsel as applicable for loan structuring and execution.
• Communicate strengths and weaknesses with credit committee.
• Prepare requests for loan modifications, extensions and exit proposals for maturing loans and lines of credit.
• Conduct annual reviews of the existing portfolio.
• Assess Dime's collateral coverage by creating client specific borrowing base advance formulas.
• Identify policy exceptions and incorporate suitable mitigants into credit evaluations.
• Prepare and deliver the credit approval package to the appropriate authority level as required by Dime's Credit Policy.
• Proactively communicate with loan officers, brokers, and clients during underwriting and loan review process.
• Participate in client meetings and conference calls.
• Provide analytical support for senior management as needed.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree