At U.S. Bank, we're on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at-all from Day One.
Job Description
The Underwriter position focuses on credit underwriting and review of prospects and/or existing client relationships for U.S. Bank Asset Based Finance. The Underwriter is an experienced credit professional capable of independent activity on complex credit transactions. The Underwriter works in a team setting with business development officers, relationship managers, portfolio manager and product partners and is responsible to develop, structure, analyze, covenant, document, close and fund asset based transactions. Interfaces directly with clients and prospects, financial sponsors and/or financial intermediaries (including outside accountants, legal counsel, appraisers, field examiners, etc.).
The Underwriter must have a full understanding of U.S. Bank and Asset Based Finance credit policies in order to identify and resolve issues during the underwriting, documentation and closing processes. Candidate should have exceptional analytical and organizational skills with the ability to multi-task and manage changing priorities as well as strong demonstrated credit, interpersonal and written communication skills. Transactions range from sole bank financings to agented and participation roles in large syndicated credit facilities.
Essential Responsibilities:
Determine the credit worthiness of prospective clients by analyzing financial statements, projections, appraisals, meeting and interviewing the prospective client's management team and analyzing and obtaining a detailed understanding of the prospective client's cash flows and balance sheet.
Prepare credit memos in a clear and concise manner and present recommendations to senior approvers that balance marketability with prudent risk management
Negotiate appropriate terms and conditions for complex transactions and work with deal teams to ensure appropriate documentation is in place.
Identify critical transactional and structural risks and propose appropriate structuring alternatives to mitigate those risks.
Ensure compliance with all policy and regulatory requirements.
Independently manage workflow to balance competing priorities and ensure all deadlines are met.
Other projects and assignments as requested including, prospect review and analysis and process improvement initiatives.
The Underwriter is responsible for underwriting new business transactions by conducting industry and company research; analyzing financial statements and preparing complete and accurate initial credit memorandums so informed decisions can be made related to asset based lending opportunities. The Underwriter will work closely with ABF Senior Underwriters, ABF Senior Management and ABF Business Development Officers to ensure that credit decisions are properly analyzed and documented and that the credit function is in compliance with Bank and regulatory policies.
Basic Qualifications
Bachelor's or Master's degree in finance, accounting or other related field
10 or more years of banking experience
Preferred Skills/Experience
5 years of ABL or Commercial Underwriting experience
Strong leadership abilities and strategic management skills
Thorough knowledge of division and relation to industry
Excellent verbal and written communication skills
Excellent analytical, decision-making and problem-solving skills
Considerable tact, diplomacy and people skills
If there's anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants (https://careers.usbank.com/global/en/disability-accommodations-for-applicants) .
Benefits:
Our approach to benefits and total rewards considers our team members' whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):
Healthcare (medical, dental, vision)
Basic term and optional term life insurance
Short-term and long-term disability
Pregnancy disability and parental leave
401(k) and employer-funded retirement plan
Paid vacation (from two to five weeks depending on salary grade and tenure)
Up to 11 paid holiday opportunities
Adoption assistance
Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law
U.S. Bank is an equal opportunity employer. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, and other factors protected under applicable law.
E-Verify
U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program (https://careers.usbank.com/verification-of-eligibility-for-employment) .
The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, U.S. Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401(k) contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $159,970.00 - $188,200.00
U.S. Bank will consider qualified applicants with arrest or conviction records for employment. U.S. Bank conducts background checks consistent with applicable local laws, including the Los Angeles County Fair Chance Ordinance and the California Fair Chance Act as well as the San Francisco Fair Chance Ordinance. U.S. Bank is subject to, and conducts background checks consistent with the requirements of Section 19 of the Federal Deposit Insurance Act (FDIA). In addition, certain positions may also be subject to the requirements of FINRA, NMLS registration, Reg Z, Reg G, OFAC, the NFA, the FCPA, the Bank Secrecy Act, the SAFE Act, and/or federal guidelines applicable to an agreement, such as those related to ethics, safety, or operational procedures.
Applicants must be able to comply with U.S. Bank policies and procedures including the Code of Ethics and Business Conduct and related workplace conduct and safety policies.
Posting may be closed earlier due to high volume of applicants.
