Korn Ferry has partnered with our client on their search for the role, Managing Director Underwriting/Deal Structuring.
Purpose of the Position
The role reports to the Senior Managing Director, Commercial Banking Group or their designee and serves as the primary point of contact for new loan facility structuring, underwriting, closing and ongoing portfolio management for new and existing clients. The role will also encompass early-stage discussions with perspective new clients, sourced by our business development team, and with the help of the Sales Team, sell the perspective client on moving forward with the bank’s proposal. There are no new business development responsibilities. The role requires customer contact, structuring and negotiating terms, conditions, and pricing. Our target market is comprised of the nation’s top law firms handling personal injury cases and Mass Tort and Class Action cases such as Roundup, Opioids and Talc. The Bank lends into these relationships to support the firm’s working capital needs, marketing, acquisitions needs with the source of repayment being the attorney fees received from the settlement of these litigations. We are adding to the team the required experience and talent to structure, negotiate underwrite and support the larger and more complicated segment of our business.
The successful candidate in this role will be able to execute the underwriting of new loan requests across a broad spectrum of borrowers. This may entail developing custom financial models in Excel, consolidating financial results among multiple entities, engaging with the client to negotiate deal terms and structure, preparing term sheets, interfacing with the originating Business Development Officer with regards to the opportunity status, concerns, and or ultimate loan decision. This will also require demonstrated experience presenting the loan to the bank’s loan committee, preparing the commitment letter, and reviewing/negotiating loan documentations such as loan agreements, notes, guaranties, intercreditor agreements, and participation agreements. Experience in closing loans is a key performance expectation.
The role will also require active engagement with clients relative to identified risks perceived by the bank to ensure the client is fully informed at all times relative to the banks outlook and perspective relative to the credit.
Some travel will be necessary as our client base is national, but it should be less than 10% of the time.
Key Responsibilities
- Structuring, negotiating underwriting and closing loan requests
- Timely gathering of required file information.
- Conduct full scope financial analysis in support of new and ongoing credit exposure, including income statement, balance sheet, and personal financial statement analysis, and pulling and reviewing credit reports, liens, judgments, bankruptcy and criminal background information.
- Prepare and present for approval to the CLO, CCO, CEO, or the Loan Committees, annual reviews and requests for increased credit, modified terms, and facilities for new borrowers.
- Communicate with borrowers to discuss their financial situation, address concerns, and obtain additional requirements.
- Negotiate facility terms and support the loan closing and documentation process.
- Create and maintain well organized files in an audit ready state.
- Primary credit related point of contact for clients, internal and external auditors, and federal regulators, such as the Office of the Comptroller of the Currency (OCC).
- Ensure loan documentation is in good order.
- Identify and escalate issues related to credit concerns or client retention.
- Perform other duties and special projects as they may be assigned.
The Candidate
Skills and Competencies
- Borrowing base and other commercial lending experience
- Demonstrated success in structuring and negotiating complex loan facilities and agreements
- Intermediate to advanced skill set in Excel and other Microsoft Office products
- Excellent inter-personal skills
- Ability to develop trusted relationships with the Bank’s client base
- High energy with intellectual curiosity
- Dedicated work ethic and self-starter
- Work well under pressure
- Ability to develop trusted relationships with the Bank’s client base
- Excellent written and verbal communication skills
- Superior organizational skills
- Process oriented when approaching key job responsibilities
Experience and Professional Qualifications
- Experience, spanning both underwriting, portfolio management and risk analysis of a commercial portfolio with exposures generally greater than $50 million
- Demonstrated history of strong communication with clients
- Superior knowledge of Asset Based Lending (ABL), structuring, and related covenants
- Excellent organizational and communication skills to manage portfolio workflow
- Ability to communicate credit / risk findings and recommendations to internal and external contacts and recommend / execute appropriate next steps
- Ensure that all activities are performed in compliance with the bank’s policies and federal, state, and other regulatory requirements
- Demonstrated experience supporting credit profiles under criticism of regulators and examiners
- Bachelor’s Degree or equivalent, preferably in Finance or Accounting.
- Formal credit training is a plus