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Director of Underwriting
Ally
New York, NY, United States
Job Details - this job has expired, please see similar jobs below
Ally Requisition #
18-5702
Job Description
Position Description
The Corporate Finance Technology Finance Underwriting and Portfolio Management team provides credit risk analysis for loan origination and structuring in closing growth stage VC and PE backed lending transactions. The Director, Underwriting and Portfolio Management handles transactions for all level clients and provides direct support to the Senior Director and/or Managing Director for the most complex transactions. Additionally, the Director oversees the portfolio and relationship management of the loan following the underwriting process. The Director will have some responsibility for negotiating loans during the ongoing portfolio management process. Additionally, the Director will be expected to develop deep relationships with the senior management of portfolio companies.
Job Responsibilities
• Analyze
◦ Review/analyze documentation
# Field exams/appraisals
# Assessment of top customers/suppliers
# Proposal letter/term sheet
# Offering memorandum/information memorandum
# Management presentation
# Industry reports/market study
# Competitor analysis
# Due diligence questions/related answers
• Visit the prospect's location/attend management presentation/Develop deep relationships with senior management following the close of a transaction.
• Perform financial analysis
◦ Interpretation of historical and projected financial information
◦ Financial modeling using spreadsheets
◦ Cash flow analysis
◦ Sensitivity analysis
◦ Loan/transaction structure analysis
◦ Ongoing analysis of portfolio company financial and qualitative performance to plan.
• Consider other risks/strengths of transaction structure
◦ Covenants
◦ Amortization
◦ Legal issues
• Resolve/mitigate issues
• Prepare an underwriting document/other documents
◦ Prepare concise, complete approval documents/exhibits
◦ Present report/make recommendation to Credit Committee
◦ Prepare/present information memorandum/reports to syndicate banks
◦ Manage Transaction Progress
# Coordinate internal/external reports
# Background checks
# Financial due diligence
# Investor due diligence
# Product / Market due diligence
# Other
• Liaise with legal counsel to document loan
• Negotiate legal documentation
• Expedite completion of conditions precedent/close loan
• Manage/assist with loan syndication
• Manage account after closing Other
◦ Participate in ad hoc project work
◦ Assist in creating/maintaining a strong credit culture
Qualifications
• BA in Business, Accounting, Finance, Economics or any degree with relevant professional experience
• 10+ years of progressive underwriting or other relevant experience. Preferably 5+ years in VC/PE growth stage market sector.
• Experience in any of the following: auditing/banking/commercial lending/underwriting analysis/credit analysis/collateral management
• Strong knowledge of regulatory and firm risk policies.
• Strong product knowledge and expertise in financing approaches and techniques for equity or debt
• Master's degree preferred
• Completion of bank/finance company credit training program preferred
• Excellent communication (verbal and written), interpersonal and organizational skills
• Ability to communicate, engage and develop relationships with C-Level management in portfolio companies.
• Well-developed presentation and report writing skills
• Highly analytical, detail oriented with problem solving capability
• Ability to work independently with demonstrated strong time management skills
• High level of accountability and the ability to effectively prioritize tasks
• Technical: Advanced knowledge of MS Office: Excel, Word, PowerPoint Access and financial forecast models
Ally Overview
Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company and a top 25 U.S. financial holding company offering financial products for consumers, businesses, automotive dealers and corporate clients. Ally's legacy dates back to 1919, and the company was redesigned in 2009 with a distinctive brand, innovative approach and relentless focus on its customers. Ally has an award-winning online bank (member FDIC), one of the largest full service auto finance operations in the country, a complementary auto-focused insurance business, a growing digital wealth management and online brokerage platform, and a trusted corporate finance business offering capital for equity sponsors and middle-market companies.
Business Unit/Enterprise Function
Ally Corporate Finance (CF) provides customized secured commercial loans to private-equity and/or venture capital backed companies based in North America. Our loans are used by clients to facilitate acquisitions, fund working capital, growth/capital expenditures, and restructurings. CF focuses on manufacturers, distributors/wholesalers, and service businesses but also has specialty lending teams that cover healthcare and technology businesses. We are headquartered in New York and have offices in major cities across the U.S.
Total Rewards Information
Ally's compensation program offers market-competitive base pay and pay-for-performance incentives (bonuses) based on achieving personal and company goals. Plus, we have a flexible paid-time-off program including time off for volunteer opportunities. Ally's Total Rewards Program is designed to enrich your life at work -- and outside of it and includes:
• Industry-leading 401K retirement savings plan with matching and company contributions
• Wellness program encouraging healthy living with financial rewards
• Flexible health insurance options including dental and vision
• Pre-tax Health Savings Account with generous employer contributions
• Pre-tax commuter benefits
• Other work-life integration benefits including parental and caregiver leave, adoption assistance, backup child and adult/elder day care program, child care discounts, tuition reimbursement, LifeMatters® Employee Assistance Program, subsidized and discounted Weight Watchers® program and other employee discount programs
Ally is an Equal Opportunity Employer
We extend equal employment opportunities to qualified applicants and employees on an equal basis regardless of an individual's age, race, color, sex, religion, national origin, disability, sexual orientation, gender identity or expression, pregnancy status, marital status, military or veteran status, genetic disposition or any other reason protected by law.