Underwriting I - Technology Verticals
Sterling National Bank’s Innovation Banking Group works with founder-owned and sponsor-backed early-, mid- and late-stage technology firms in the United States and Canada. The team tailors senior credit solutions to support growth working capital, acquisitions, and other strategic investments, accompanied by a full suite of complementary banking solutions.
To support the continued expansion of Innovation Banking, the team is looking for a Manager, Underwriting I to join their practice. In this position, you will be responsible for evaluating requests for new and renewing recurring revenue- and cash flow-based revolving credit and term loan facilities in accordance with bank polices and regulatory requirements.
The Manager, Underwriter I evaluates complex transaction structures and analyzes technology businesses and financial sponsors, based on due diligence and information necessary to make sound lending decisions. An understanding of the Bank’s credit policy and regulatory requirements is required.
This position is an opportunity to join a fast-paced, highly visible team still in its early stage of development, offering an intellectually-curious Underwriter significant opportunities as the team continues grows.
- Analyze prospective and existing loan requests by evaluating current and prospective borrowers’ business, industry and financial information; leveraging a complete understanding of financial information and key performance indicators (KPIs) relevant to each opportunity; and evaluating borrowers’ base-case financial projections and constructing downside analyses.
- Conduct industry, company and sponsor research.
- Review third-party diligence such as quality of earnings (QoE), accounting and tax work; commercial and market studies; technology assessments; and legal, HR and other third-party diligence, for consistency and accuracy with credit narratives, working with the borrower, loan officers and portfolio managers.
- Identify collateral adequacy (including enterprise value); appropriate financial covenants and financial reporting requirements; and internal risk ratings for each borrower and credit facility, including new loans, renewals, modifications and short-term extensions.
- Order and review third-party diligence reports for each borrower and key management and sponsor personnel.
- Perform other duties and responsibilities as required or assigned by supervisor.
- Ensure compliance with all regulations, policies, and procedures.
- 3-5 years of direct commercial loan underwriting and credit analysis experience, preferably in relevant technology verticals.
- Candidates with advanced degrees (Associates, Bachelors, and/or Masters) preferred, yet a High School diploma or GED is required. Candidates with some combination of coursework and experience, or else extensive related professional experience, are eligible for consideration
- Proficiency with all financial statements (balance sheet, income statement and statement of cash flows) is required.
- Dual loan grading experience preferred
- Proficiency in legal terminology and documentation to ensure approved loan terms are correctly interpreted and captured for monitoring.
- Demonstrable track record of working under pressure and managing multiple projects with limited supervision
- Excellent oral and written communication skills as well as analytical, mathematical and reasoning skills.
- Demonstrated ability to develop and maintain positive working relationships with contacts across lines of business / clients.
- Technical aptitude with Word, Excel and Outlook
- Familiarity with legal and compliance documentation required for commercial loans, including loan and security agreements, senior notes and ancillary documentation.