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VP, Underwriter
Banc of California
Santa Ana, CA, United States
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Description
Since 1941, Banc of California (NYSE:BANC) has empowered California’s diverse private businesses, entrepreneurs and communities, provided full service banking and lending, and partnered with businesses, families and employees to achieve their dreams.
Today, we are large enough to meet our clients’ banking needs, yet small enough to care and serve them well. Banc of California’s strong balance sheet, deep community roots and commitment to lasting and meaningful relationships are the foundation for its long record of success.
JOB SUMMARY:
Responsible for credit underwriting and analysis of Commercial Real Estate and Multi-Family loan applications for new loan facilities, renewals, modifications and extension of loans, all in accordance with CRE business unit Standards and Procedures. Additionally, interacts collaboratively with the Commercial Banking Division to assist them in structuring appropriate investor commercial real estate credit transactions. Credit analysis includes but is not limited to gathering, analyzing, and interpreting all types of credit information such as Operating Income and Expense Reports, Real Estate Schedules, Guarantors Personal Financial Statements and Tax Returns. Makes recommendations and/or decisions regarding the extension of credit. Displays superior analytical abilities, attention to detail and excel at working in a fast-paced environment. Provides guidance/assistance to other underwriters and perform additional duties as necessary to support the goals and objectives of the Commercial Real Estate and Multi-Family Lending Division. Typical loan sizes range from $500,000 to $15,000,000. Ensures the performance of all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
1. Work with Origination team and Credit Administration to prescreen new loan opportunities in accordance with CRE policy and guidelines.
2. Review and analyze financial statements, real estate schedules, tax returns, and cash flow statements of Borrowers and Guarantors.
3. Analyze and underwrite routine to moderately complex credit facilities in a manner which achieves the Bank’s profitability goals while staying within the Bank’s risk parameters. Factor into underwriting all market related items, including but not limited to: Rental rate assumptions, absorption rates, vacancy rate assumptions, demographic indicators, expense factor assumptions, economic indicators, and cap rate assumptions.
4. Prepare written Credit Approval Memorandum (CAM) and ancillary forms for routine to moderately complex credit facilities.
5. Understand and employ all policies and procedures of the Bank and the Line of Business.
6. Analyze formation documents for Borrowers with various entity types (C-Corp, Limited partnerships, General partnerships, Limited Liability Companies, Trusts, etc.), be able to review such documents for accuracy, and determine appropriate Borrower signing authority.
7. Work with Loan Administration and Origination team to ensure accurate flow of information in documents to provide efficient closing of loan transaction.
8. Partner with Loan Administration and internal counsel in the preparation, review and approval of loan documentation to ensure the documents meet agreed upon business terms and satisfy the specific requirements of the appropriate credit approval.
9. Determine the proper risk rating for all facilities within an assigned loan portfolio and complete the required paperwork for any rating changes.
10. Exhibit a sense of urgency towards meeting client requests while also still adhering to acceptable risk parameters.
11. Foster an open dialogue and strong working relationship with Risk Management, Loan Administration, Internal Audit, Special Assets and other groups that support and review the line of business.
12. Responsible for adherence of all compliance program, including but not limited to, completion of all required and assigned training modules by established due dates.
13. Understands and complies with requirements of all laws and regulations applicable to the position.
14. Remain up-to-date on all bank compliance and regulatory policies and procedures and on all pending and proposed regulatory changes affecting bank compliance.
15. Works with external and internal auditors as necessary providing schedules, analysis and answering questions as necessary.
16. Treats people with respect; keeps commitments; inspires the trust of others; works ethically and with integrity; upholds organizational values; accepts responsibility for own actions.
17. 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.
18. Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
19. Performs the position safely, without endangering the health or safety of 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.
20. Performs other duties and projects as assigned.
Banc of California is an equal opportunity employer committed to creating a diverse workforce. All qualified applicants will receive consideration for employment without regard to age (40 and over), ancestry, color, religious creed (including religious dress and grooming practices), denial of Family and Medical Care Leave, disability (mental and physical) including HIV and AIDS, marital status, medical condition (cancer and genetic characteristics), genetic information, military and veteran status, national origin (including language use restrictions), race, sex (which includes pregnancy, childbirth, breastfeeding and medical conditions related to pregnancy, childbirth or breastfeeding), gender, gender identity, gender expression, and sexual orientation.
Qualifications
ESSENTIAL KNOWLEDGE, SKILLS, AND ABILITIES:
• 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).
• The ability to present written credit memorandums in a clear, succinct manner to bank management.
• Intermediate level of work experience, knowledge and training in all lending activities and terminology.
• Intermediate knowledge of related state and federal banking compliance regulations, and other Bank lending policies.
• Intermediate knowledge of human resource and labor laws and policies.
• Exceptional verbal, written and interpersonal communication skills with the ability to apply common sense to carry out instructions and instruct others, train personnel, write reports, correspondence and procedures, speak clearly to customers and employees.
• Able to make a conclusive recommendation based on independent analysis.
• Strong customer service, relationship development, and management skills.
• Effective organizational and time management skills.
• Ability to multi-task and be able to handle multiple transactions at once, and work well in a team-oriented environment.
• Advance skills in computer terminal and personal computer operation; Microsoft Office applications including but not limited to: Word, Excel, PowerPoint and Outlook.
• Intermediate math skills; calculate interest and percentages; balance accounts; add, subtract, multiply and divide in all units of measure, using whole numbers, common fractions and decimals; locate routine mathematical errors; compute rate, ratio and percent, including the drafting and interpretation of bar graphs.
• Effective organizational and time management skills.
• Ability to make decisions that have moderate impact on the immediate work unit and cross functional departments.
• Ability to organize and prioritize work schedules on a short-term and long-term basis.
• Ability to provide consultation and expert advice to management.
• Ability to make informal and formal presentations, inside and outside the organization; speaking before assigned team or other groups as needed.
• Ability to deal with complex difficult problems involving multiple facets and variables in non-standardized situations.
• Ability to work with little to no supervision while performing duties.
EDUCATION, EXPERIENCE AND/OR LICENSES:
• Bachelor’s degree and seven (7)+ years of experience in commercial real estate lending – specifically, property cash flow analysis and appraisal valuation methods.
• Commercial real estate analysis/underwriting required.
• Commercial business analysis (secondary to CRE analysis experience) required.
• Financial analysis experience of business or CRE investment financial statements, CRE Investment tax returns and individual financial statements and tax returns required.
• Current California driver’s license and a vehicle with appropriate insurance coverage if required to drive in the course of performing assigned duties and responsibilities.