As an Associate, Underwriting, you will be involved with all aspects of underwriting, managing and reporting on client accounts. Your role will include, regular monitoring of a portfolio of Innovation Banking loan accounts to ensure compliance with all agreed terms, analyzing due diligence results to validate lending eligibility, preparing credit applications and other credit correspondence, analyzing borrowers’ financial condition and account status, actively assisting with the negotiating of legal documentation. You will also maintain ongoing relationships with an assigned portfolio of accounts. You will work closely with the sales team to develop your skills for a career path in business development.
- Credit Management – Assist the relationship manager to prepare strong financing proposals (structuring terms and conditions including security, covenants and pricing) that properly reflect and compensate CIBC for assessed risk. Prepare draft recommendations on credit submissions and investment proposals to present to senior management and take point on answering any questions or addressing comments. Lead comprehensive due diligence on all transactions, including negotiating credit legal documentation and preparing credit memoranda and other credit correspondence in a well thought out, thorough and efficient manner. Work with the Business Development team throughout the underwriting process for new transactions, complete credit correspondence, review documentation, set up reporting, etc.
- Portfolio Management – Manage a portfolio of loan accounts while ensuring reporting requirements are met, financial covenant tests are completed, and comprehensive credit reviews are prepared and submitted to the risk group. Approve loan advances based on appropriate review and compliance of documents submitted by borrowers.
- Management Reporting – Provide management with information on accounts, proactively report on problems or issues, complete reviews and present analysis on borrowers’ financial condition.
- The position requires deep expertise in commercial loan underwriting, particularly over small business portfolios.
- The ability to conduct credit analysis to underwrite a business credit lines utilizing both traditional financial information and small business behavior characteristics is required.
- Experience in underwriting small business credit is a plus.
- Understanding the venture capital / start up ecosystem is a plus.
- Must be able to work independently and quickly gain a thorough knowledge of CIBC’s retail banking operations.
- Must have strong organizational and time management skills, and excellent verbal, written, interpersonal communication, and facilitation skills to lead meetings or interviews with subject matter experts and other project contributors or stakeholders.
- Must be able to collaborate with all related business partners internally and externally.
- Prefer deep experience from a large financial institution that has credit product offering to small business.
- Demonstrated expertise in commercial credit underwriting is required as is the ability to be consultative and influential on risk related decisions that could impact the long term health of the organization.
Vacancy Type: Full Time
Job Location: New York, NY, US
Application Deadline: N/A