Snr Underwriter – Asset-Based Lending (ABL)/Factoring

Company Description

For more than 70 years, IDB Bank has made it our mission to be the best bank for our clients by putting their needs first, and the success we’ve enjoyed fundamentally comes down to our people. Here at IDB, you’ll work side by side with some of the most talented professionals in the industry who share a strong sense of teamwork and a passion for providing exceptional service down to the smallest detail. We offer a comprehensive benefits package that includes generous paid time off and the ability to participate in our medical coverage and 401(k) plan on your very first day with us. We are also committed to diversity and inclusion, and to providing all of our team members with an equal opportunity to succeed and make meaningful contributions within a work environment that is respectful, welcoming and inclusive.

Job Description

We are looking for an experienced Underwriter with expertise in Asset-Based Lending (ABL) and Factoring. The role involves analyzing and underwriting credit facilities, including lines of credit and asset-reliant loans, for clients with varying loan sizes.

Key Responsibilities

• Financial Analysis
  • Conduct detailed financial analyses in compliance with internal standards.
  • Review and interpret financial statements, spreads, and projections.
  • Perform global cash flow analyses to evaluate repayment abilities.
  • Prepare profitability models with accurate risk parameters.
• Underwriting Tasks
  • Attend client meetings to understand business needs.
  • Assist in structuring facilities that align with credit policies.
  • Analyze collateral, including accounts receivable, inventory, and intellectual property.
  • Identify risks and develop mitigants in credit evaluations.
• Compliance
  • Conduct adverse news screenings.
  • Ensure all underwriting activities meet compliance and regulatory standards.
• Collaboration
  • Coordinate with lending officers and third-party service providers.
  • Participate in initiatives to improve underwriting processes.

#LI-Hybrid

Qualifications

• Education, Bachelor's degree in Accounting, Business, Finance, Law, or a related discipline.
• Experience, Minimum of 3 years of experience as an ABL/Factoring underwriter.
• Knowledge
  • Solid understanding of Asset-Based Lending and Factoring credit facilities.
  • Knowledge of loan structures, credit terms, collaterals, and guarantees.
  • Familiarity with regulatory requirements (ECOA, Regulation B, BSA, AML, OFAC).
• Skills and Competencies
  • Analytical Skills: Exceptional analytical and quantitative skills.
  • Communication: Proficient in articulating complex information clearly.
  • Technical Proficiency: Skilled in financial modeling and Microsoft Excel.
  • Organizational Skills: Ability to handle multiple tasks efficiently.
• Personal Traits
  • Quality-focused with strong attention to detail.
  • Highly motivated with a drive for achievement.
  • Collaborative with strong interpersonal skills.
  • Confident and decisive in professional judgments.

Compensation

The expected annual base salary for this position is between $110,000 - $175,000 at the start of employment. A salary offer is determined on an individualized basis, taking into consideration factors such as an individual’s skills, experience, and book of business. In addition to base salary, our total rewards package also includes eligibility for incentive compensation, medical, pharmacy, dental, and vision plans, life and disability insurance, employee wellness program, retirement and savings plans with employer contributions, generous holiday and paid time off schedules, parental leave, and tuition reimbursement.

Additional Information

Disclaimer

The Bank will make reasonable accommodations to the following employees to allow them to perform the essential functions of their position, except where doing so would result in undue hardship to the Bank:

• Those with a known mental or physical disability.
• Pregnant individuals and/or individuals with pregnancy or childbirth-related medical conditions.
• Victims of domestic violence, sex offenses or stalking.
• Employees with religious observance and practice obligations.

Any employee who believes he or she needs an accommodation for any of the above reasons should contact their supervisor or a member of Human Resources to request such an accommodation. In each case, the Bank will engage in a good faith written or oral dialo