Wealth Specialty Finance Underwriter

Wells Fargo & Company•Scottsdale, AZ

2d•$119,000 - $187,000

About The Position

Wells Fargo is seeking a Lead Wealth Underwriter to join its Wealth & Investment Management Specialty Finance Group ("SFG"). SFG is a national team within WIM that provides specialized expertise in structuring, underwriting and managing large and highly complex commercial-type credits for Ultra High Net Worth individuals and families...Working at Wells Fargo | Jobs and Careers at Wells Fargo (wellsfargojobs.com) The specific SFG “sleeve” this underwriter will primarily focus on includes concentrated/restricted stock lending, aircraft financing, and unsecured lending, among others. The Underwriter will primarily be responsible for underwriting and executing new transactions and monitoring a portfolio of credits in these spaces. The underwriter will also have an opportunity for exposure to SFG's other offerings including life insurance premium finance, fine art, private stock, alternative assets and other unique collateral types. In this role, you will: Spearhead financial analysis and due diligence around UHNW sponsors; distill complex credit situations into key risks/mitigants and clear and concise underwriting memos for consumption by senior leaders and credit-risk decision makers; Develop subject matter expertise across SFG lending themes, including concentrated/illiquid stock, aircraft, unsecured, etc. to ensure seamless presentation and analysis of key sponsor and collateral considerations. Lead loan structuring and as well as negotiations of legal documentation of loan transactions with outside counsel; Ensure compliance with company/regulatory policies and procedures; Manage a loan portfolio to ensure loan performance and compliance with key financial reporting and covenant requirements, maintenance of risk rating accuracy, and escalation of any developing issues. Manage on-going relationships with internal business partners including Custom Credit Bankers, Relationship Managers and leaders across product and relationship teams as well as borrowing clients and their family office personnel Lead complex initiatives including those that are cross-functional with broad impact and act as a key participant in large-scale planning for Wealth Underwriting Review, analyze, and evaluate complex challenges related to multi-faceted, larger scale high-net-worth loans structures, existing portfolio issues, and complex business, operational, or technical challenges that require an in-depth evaluation of multiple factors including intangible or unprecedented factors, present recommendations for resolution Make decisions on complex and multi-faceted credit risk management issues to ensure satisfactory credit portfolio risk examinations requiring solid understanding of Wealth Underwriting functional area policies, procedures, regulations, and compliance requirements that influence and lead the Wealth Underwriting team to meet deliverables and drive new initiatives Strategically collaborate and consult with Wealth Underwriting peers, colleagues, and mid-level to senior level managers to resolve issues and achieve goals; serve as a peer mentor Partner with Custom Credit Banker and Financial Advisor to provide guidance on due diligence, credit, and loan document negotiations with clients

Requirements

5+ years of Wealth Underwriting experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Nice To Haves

Thorough knowledge of financial accounting theory and logic, financial statement analysis, loan structuring and commercial banking products and services.
Good credit skills including an ability to structure, negotiate, and document a broad range of loan types, structures and complex requests.
Strong interpersonal, communication, writing and partnering skills.
Ability to make sound, independent business and credit decisions.
A background in wealth or commercial lending/underwriting is preferred.
Familiarity with esoteric collateral asset classes including, but not limited to illiquid/concentrated stock, aircraft, unsecured, life insurance, alternative assets, art, etc. is a plus
Experience in capital markets, commercial/corporate/investment banking, commercial real estate lending or similar is desired.

Responsibilities

Spearhead financial analysis and due diligence around UHNW sponsors; distill complex credit situations into key risks/mitigants and clear and concise underwriting memos for consumption by senior leaders and credit-risk decision makers
Develop subject matter expertise across SFG lending themes, including concentrated/illiquid stock, aircraft, unsecured, etc. to ensure seamless presentation and analysis of key sponsor and collateral considerations.
Lead loan structuring and as well as negotiations of legal documentation of loan transactions with outside counsel
Ensure compliance with company/regulatory policies and procedures
Manage a loan portfolio to ensure loan performance and compliance with key financial reporting and covenant requirements, maintenance of risk rating accuracy, and escalation of any developing issues.
Manage on-going relationships with internal business partners including Custom Credit Bankers, Relationship Managers and leaders across product and relationship teams as well as borrowing clients and their family office personnel
Lead complex initiatives including those that are cross-functional with broad impact and act as a key participant in large-scale planning for Wealth Underwriting
Review, analyze, and evaluate complex challenges related to multi-faceted, larger scale high-net-worth loans structures, existing portfolio issues, and complex business, operational, or technical challenges that require an in-depth evaluation of multiple factors including intangible or unprecedented factors, present recommendations for resolution
Make decisions on complex and multi-faceted credit risk management issues to ensure satisfactory credit portfolio risk examinations requiring solid understanding of Wealth Underwriting functional area policies, procedures, regulations, and compliance requirements that influence and lead the Wealth Underwriting team to meet deliverables and drive new initiatives
Strategically collaborate and consult with Wealth Underwriting peers, colleagues, and mid-level to senior level managers to resolve issues and achieve goals; serve as a peer mentor
Partner with Custom Credit Banker and Financial Advisor to provide guidance on due diligence, credit, and loan document negotiations with clients