VP, Underwriter- HOA Lending

Banc of California • Santa Ana, CA

13d

About The Position

BANC OF CALIFORNIA AND YOUR CAREER Banc of California, Inc. (NYSE: BANC) is a bank holding company headquartered in Los Angeles with one wholly-owned banking subsidiary, Banc of California (the “bank”). Banc of California is one of the nation’s premier relationship-based business banks focused on providing banking and treasury management services to small, middle-market, and venture-backed businesses. Banc of California offers a broad range of loan and deposit products and services, with full-service branches throughout California and Denver, Colorado, as well as full-stack payment processing solutions through its subsidiary, Deepstack Technologies. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. At Banc of California, our success is driven by our people, and we take pride in fostering an environment where everyone can reach their full potential. We embrace a culture of empowerment, progressive thinking, and entrepreneurial spirit, ensuring our team members have an opportunity to make an impact and play an important role in the future of Banc of California. Our core values – Entrepreneurialism, Operational Excellence, and Superior Analytics – empower us in creating a dynamic and inclusive workplace. We are committed to supporting your growth and well-being with comprehensive benefits, career development programs, a variety of employee resource groups, and more. TOGETHER WE WIN® THE OPPORTUNITY Focusing on Homeowners Association (HOA) lending the Underwriter will perform analysis, due diligence and underwriting of proposed new loan requests for new and existing clients within the Community and Commercial Bank. Review initial borrower submissions, perform analysis of information submitted and prepare a written credit presentation of loan requests. Independently evaluates the credit worthiness of loan requests covering both existing customers and new credit relationships. Responsible for the timely, effective and efficient completion of required underwriting tasks to make recommendations and creating the appropriate Credit Approval Recommendation (CAR) report for eventual forwarding to and obtaining approval from Credit Administration. The underwriter interacts and effectively communicates with Bank personnel and with existing or prospective clients. Performs all duties in accordance with the Company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the Company operates.

Requirements

• Demonstrates knowledge of, adherence to, monitoring and responsibility for compliance with state and federal regulations and laws as they pertain to this position including but not limited to the following: Regulation Z (Truth in Lending Act), Regulation B (Equal Credit Opportunity Act), Fair Housing Act (FHA), Home Mortgage Disclosure Act (HMDA), Real Estate Settlement Procedures Act (RESPA), Fair Credit Reporting Act (FCRA), Bank Secrecy Act (BSA) in conjunction with the USA PATRIOT Act, Anti-Money Laundering (AML) and Customer Information Program (CIP), Right to Financial Privacy Act (RFPA, state and federal) and Community Reinvestment Act (CRA)
• PC proficient with emphasis in Word, Excel
• Excellent composing and writing skills
• Ability to communicate verbally with a wide range of people
• Responsiveness, judgment, maturity, integrity, and time management skills
• Must be a self-starter and able to multi-task, work efficiently on own and team environment, and be readily adaptable to change
• Ability to work under pressure and meet completion time tables
• Strong financial analytical skills with the ability to evaluate complex financial statements and complicated business and personal tax returns
• Bachelor’s Degree and/or relevant work experience or training
• Required: Minimum of 6-8 years of underwriting experience in real estate, construction and commercial financing including valuation and asset management and financial analysis

Nice To Haves

• Preferred: Bachelor’s Degree and/or relevant work experience or training
• Experience in underwriting new loans to HOAs
• Proficient with nCino

Responsibilities

• Independently evaluates and structures complex credit requests within various types of lending to businesses within C&I, investor real estate, and other specialty types of industries with primary emphasis on HOA loans.
• Loan types primarily include delayed draw term loans and lines of credit may include asset-based lending, term loans, commercial real estate loans, bridge loans, guidance lines, buy and sell side syndicated credits, and cash flow reliant facilities.
• Performs independent credit analysis and risk assessment including, but not limited to, preparing analysis of financial statements, HOA cost reserve studies, and projections.
• Well versed in modeling income statements, balance sheets and cash flow calculations over multiple years, as well as analyzing tax returns, financial statements, and be able to perform a downside and break-even projection analysis with limited input.
• Develop thorough understanding of the nature and history of the applicant’s business, the market in which the business operates, and assess the capability of its management.
• Understands complex corporate structures and is able to recommend the best borrowing structures to protect the bank.
• In conjunction with the Relationship Manager (RM), involved in drafting and negotiating complex loan documents prepared by outside law firm or in-house counsel.
• Prepare and complete the CAR report for submission and approval by Credit Administration.
• Oversees the Letter of Interest (LOI) and insure consistency between the LOI, loan documents and the CAR.
• Review documents related to loan request, including but not limited to, UCC filings, appraisal report, title policy, lease agreements, credit reports, etc.
• Recommend reporting and performance covenants specific to the type of financing being provided and articulate rationale within the CAR.
• Assist Loan Administrator in a timely boarding and/or funding of loan requests.
• Responsible for correct identification providing adequate support of new loans’ Risk Ratings.
• Keeps apprised of industry related, political and regulatory issues to determine their impact on specific industries or clients.
• Engages with internal and external credit review teams and regulators as needed responding to inquiries on underwritten new loans.
• Provides guidance and mentoring to junior Underwriters regarding more complex transactions that they assist with.
• Reviews the work completed by junior Underwriters and communicates the review findings to the individuals.
• Treat people with respect; keep commitments; inspire the trust of others; work ethically and with integrity; uphold organizational values; accept responsibility for own actions.
• Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
• Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
• Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions.
• The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
• Performs other duties and projects as assigned.

Benefits

• Financial Security: You will be eligible to participate in the company’s 401k plan which includes a company match and immediate vesting.
• Health & Well-Being: We offer comprehensive insurance options including medical, dental, vision, AD&D, supplemental life, long-term disability, pre-tax Health Savings Account with employer contributions, and pre-tax Flexible Spending Account (FSA).
• Building & Supporting Your Family: Banc of California partners with providers that offer adoption, surrogacy, and fertility assistance as well as paid parental leave and family support solutions including care options for your family.
• Paid Time Away: Eligible team members receive paid vacation days, holidays, and volunteer time off.
• Career Growth Opportunities: To support career growth of our team members, we offer tuition reimbursement, an annual mentorship program, leadership development resources, access to LinkedIn Learning, and more.

What This Job Offers

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