Underwriting Manager

Company: Builders Capital
Location: Washington
Posted on: November 8, 2024

Job Description:

Builders Capital is looking for an Underwriting Manager to join our fast-growing company! The Underwriting Manager is responsible for leading and managing the underwriting team to ensure the timely and accurate assessment of risks, evaluation of applications, and issuance of policies in accordance with the company's guidelines and regulatory requirements. The role requires a deep understanding of underwriting principles, risk assessment, and the ability to make decisions that balance customer needs with the company's risk appetite.Builders Capital is the nation's largest private construction lender, offering innovative financing solutions to a wide spectrum of developers and homebuilders. Loan products include options for Acquisition, Development, Construction, and Bridge financing, in the form of single-asset loans, portfolio loans, and revolving credit facilities.Duties & Responsibilities:

• Manage, develop, and train current and new Credit Officers and Commercial Underwriters.
• Help with process improvements and implementation.
• Analyze and underwrite the creditworthiness of new and existing commercial applications for approval while recommending risk ratings based on that analysis and lending policy guidelines.
• Perform in-depth financial analysis, including spreading and analyzing financial statements, tax returns, and/or projections.
• Prepare financial projections, including loan sensitivity analysis, when requested.
• Identify potential risks and recommend mitigants based on an analysis of economic and industry trends, borrower performance, collateral support, and guarantor liquidity and obligations.
• Independently draft credit memos for pending loan requests and make recommendations for the extension of credit based on the analysis of the borrower's financial condition, cash flow, collateral, and the character of the borrower.
• Interview loan applicants as needed to develop and obtain information regarding their operating results, business needs, experience, and cash flow.
• Assist members with loan application process as needed.
• Complete annual reviews of selected portfolio holdings, identifying any issues or changes to the performance of those borrowers that potentially impacts the expected performance of those loans. Recommend risk rating upgrades or downgrades, along with an appropriate action plan, based on that analysis.
• Provide general portfolio management, tracking reporting and file maintenance including tracking financial statements and annual reviews, covenant compliance, insurance expirations, and payment performance.
• Ensure adherence to Credit policies and procedures, and regulatory requirements.
• Maintains current knowledge of general economic conditions or changing trends that may affect BC's business loans.
• Loan review and underwriting as required prior to a loan being submitted to Loan Review Committee "LRC".Qualifications:
  • Bachelor's degree in Finance, Business, Real Estate, or a related field.
  • 5+ years of experience in commercial underwriting with an emphasis in Construction, with a minimum of 3 years in supervisory or managerial role.
  • In-depth knowledge of commercial lending practices, financial analysis, and risk assessment.
  • Strong written and oral communication skills.
  • Ability to consistently produce high-quality work products and demonstrate high attention to detail.
  • Ability to work independently and as part of a cross-functional team.
  • Applicable experience necessary to understand not only the legal issues but also the business considerations relevant to our industry.
  • Process-oriented with the ability and desire to identify, develop, and implement efficiencies and improvements.This job posting highlights the most critical responsibilities and requirements of the job; however, there may be additional duties, responsibilities, and qualifications for this job.Construction Loan Services II LLC (Builders Capital) and its affiliates are Equal Employment Opportunity (EEO) employers and welcome all qualified applicants. This is a full-time exempt position.
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Keywords: Builders Capital, Potomac , Underwriting Manager, Executive , Washington, Maryland