Senior Asset Based Lending (ABL) Underwriter for Established Nonbank ABL Lender Chicago or New York
LibertasGroup
- Chicago, IL, United States
Senior Asset Based Lending (ABL) Underwriter for Established Nonbank ABL Lender
Description:
Established Non-Bank ABLLenderis seeking a full-time Senior Asset Based Lending Underwriter to execute on asset-based lending opportunities for a variety of ABL clients from small to large. Clients include public corporations, private equity owned companies, and small to mid-sized entrepreneur/privately owned businesses. Facility sizes range from $10,000,000 to $100,000,000+. This individual will be responsible for independently underwriting and closing a variety of complex transactions and is expected to respond independently to large and complex issues.
Office Location of position can be in New York Area (CT, NY or NJ) or in Chicago or it can be in a Remote Location outside of these locations with occasional visits to the lender’s offices.
Responsibilities:
- Lead transactional deal teams by coordinating with originations, portfolio management, operations, and product partners to underwrite, document, and close new asset-based loans
- Analyze and understand collateral, historical and projected financial statements, cash flows, liquidity, relevant valuation metrics, and market significance
- Coordinate and drive the scope of third-party due diligence including collateral focused field examinations; inventory, equipment, real estate, and intellectual property appraisals; environment assessments; quality of earnings review; and background investigations
- Develop and maintain a positive relationship with prospective clients throughout the underwriting process
- Organize diligence meetings to assess the quality and strength of management and develop a deeper understanding of the borrower’s business, financial profile, and industry
- Identify critical transactional and structural risks, complete in-depth diligence on critical focus areas, and propose situation appropriate mitigants or structuring alternatives
- Complete comprehensive credit approval and funding/closing memos
- Present underwritten transactions to senior management and the Credit Committee in a clear and concise manner with well-reasoned support
- Expertly structure loans and negotiate legal documents to ensure the transaction is appropriately documented in accordance with credit approval
- Manage client and internal expectations throughout the approval and loan closing process through frequent and effective communication
- Oversee seamless onboarding of new clients in coordination with Portfolio Management and Operations
- Identify and mitigate exceptions to credit policies
- Mentor junior team members
Requirements:
- 10+ years of Asset Based Lending Underwriting experience, or equivalent experience demonstrated through work experience, training, or education
- Significant customer facing experience
- Significant secured lending legal loan documentation and negotiation experience
- Proven ability to manage priorities and work well under tight deadlines
- Preferred locations are New York, Chicago, Stamford, CT or a Remote Location with occasional visits to the lenders main offices.
Posted On: Saturday, January 7, 2023