Senior Lead Underwriter, HNW Tailored Lending

Job Summary

Job Description

What is the opportunity?

This role will be responsible for underwriting Tailored Loans to RBC UHNW clients in the US including Commercial Real Estate, Residential Real Estate, Securities Based Loans, Yacht, Aircraft, other illiquid collateral and unsecured loans.  This person would also serve as the Portfolio Manager for US tailored loans, including having responsibility for annual reviews, amendments, waivers, and renewals. 

In addition to underwriting new loans, this individual would serve as a subject matter expert for UHNW Tailored Lending and support the HNW Tailored Lending Advisors, pre-screening proposed credit facilities and reviewing ‘flash terms’ and term sheets to ensure they are aligned with USWM credit policies, risk appetite, and framework.  When appropriate, this individual will help present transactions in ‘Approval to Pitch’ and ‘Commitments’ committees.  They will also work closely with Loan Administration and Servicing to ensure deals are booked appropriately and covenants are being monitored and tracked.

What will you do?

Credit Portfolio Management, Analysis & Capital Optimization

• Leads underwriting for USWM Tailored Loans
• Partners with HNW Lending Advisors to review tailored loan credit requests, provides guidance on initial flash terms and term sheets to ensure adherence to WM policies and risk appetite, and makes recommendations to the group head and Head, Global WM Portfolio Management and NY Branch CCO when needed.
• Performs credit initial due diligence, spreads financial data, runs credit models to propose initial borrower risk ratings and loss given defaults.
• Drafts credit memos summarizing credit requests, sources and uses, primary and secondary sources of repayment, key risks and mitigants, and ultimate credit recommendation. 
• Prepare materials and participate in Approval To Pitch and Capital Commitments Committees
• Liase with Group Risk Management (2LOD) and obtain decisions that fall outside of 1LOD delegated authority.
• Partner with loan servicing team to ensure loans are properly booked and funded.
• Review periodic financial disclosures, perform annual or interim reviews as appropriate maintaining timely and accurate risk ratings and classifications.

What do you need to succeed?

• Strong analytical skills and sound judgement
• Technical expertise in credit risk management
• Excellent communication skills
• Highly organized and detail oriented
• Positive attitude, self-starter, willingness to roll-up sleeves and get the job done
• Constructive, and ability to offer recommendations to improve efficiency and effectiveness
• Basic understanding of key bank regulatory requirements.
• Open to change and comfort operating in a long-term growth opportunity with developing structure
• Demonstrated experience dealing with ambiguity and making decisions

Must-have

• 5-10 years prior credit risk management, underwriting or portfolio management experience, ideally in Wealth Management segment
• Bachelor's degree, preferably in Business Administration, Finance, Accounting, Economics

Nice-to-have

• CFA and/or MBA

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
• Leaders who support your development through coaching and managing opportunities.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high-performing team.
• Opportunities to do challenging work.
• Opportunities to build close relationships with clients.

The expected salary range for this particular position is $160,000-$250,000 (New York, NY and Stamford, CT) and $150-$231,000 (Florham Park, NJ) depending on your experience, skills, and registration status, market conditions and business needs.

You have the potential to earn more through RBC’s discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

RBC’s compensation philosophy and principle