Director/VP Underwriter- Portfolio Manager- Maritime

First Citizens Bank; New York (NY); On-site; USD 205,000 - 250,000; Full time

Job summary

First Citizens Bank is seeking a Director/VP Underwriter- Portfolio Manager for Maritime Finance. This role involves managing underwriting and portfolio tasks associated with maritime financing, requiring extensive experience in the maritime industry and strong analytical skills. The ideal candidate will provide recommendations based on due diligence, lead deal teams, and mentor junior staff while collaborating with various departments to ensure compliance and performance management.

Qualifications

• 8 years in Maritime Finance, preferably in Lending or related fields.
• High School Diploma with 12 years experience considered.

Responsibilities

• Underwrite and manage asset-backed maritime financing.
• Lead deal teams, mentor junior resources.
• Analyze financial statements and transaction risks.

Skills

Analytical skills

Communication

Team player

Self-motivated

Financial modeling

Education

Bachelor's Degree

MBA/CFA/CPA

Job description

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Join to apply for the Director/VP Underwriter- Portfolio Manager- Maritime role at First Citizens Bank

Overview

Reporting to the Head of Underwriting & Portfolio Management for Maritime Finance, the Sr Underwriter and Portfolio Manager will be responsible for underwriting as well as portfolio management of asset-backed maritime financing transactions, leading deal teams, mentoring junior resources, and assisting with the preparation of presentations and reports for regulatory and internal informational purposes.

Overview

Reporting to the Head of Underwriting & Portfolio Management for Maritime Finance, the Sr Underwriter and Portfolio Manager will be responsible for underwriting as well as portfolio management of asset-backed maritime financing transactions, leading deal teams, mentoring junior resources, and assisting with the preparation of presentations and reports for regulatory and internal informational purposes.

Responsibilities

• New business - Play a key role in deal teams to evaluate new transactions, pre-screen transactions, conduct due diligence, prepare credit approval memos on transactions that are green-lighted in the pre-screen process, present transactions to credit committee to obtain credit approval, collaborate with legal team to negotiate and review commitment letters and legal documentation as needed, and participate in deal closing
• Analyze financial statements and capital structures, conduct business/industry analysis to identify transaction risks and mitigants; recommend transaction structures appropriate to the opportunity; provide Head of Underwriting with a recommendation on the transaction based on due diligence and financial modeling
• Manage assigned portfolio accounts - monitor performance and covenant compliance, review Credit Review Forms, process amendments and waiver requests in a timely manner to meet customer expectations, provide performance updates to manager; identify and act on warning signals, participate in portfolio reviews as needed
• Maintain familiarity with CIT policies, procedures, and underwriting standards; Interface with other departments within CIT, such as Legal, Operations, Insurance, Problem Loan Management, Capital Markets, Corporate Risk Management, Compliance, Loan & Risk Review, and Internal Audit
• Develop maritime industry knowledge and track industry trends across the various sub-sectors including dry bulk, tankers, containerships, LNG/LPG, and other niche segments
• Interface with customers to complete diligence process, gather key information for credit analysis, and obtain periodic materials such as financial statement, compliance certificates, etc, as well as assist the relationship management efforts of the Originators
• Interface with and independently manage information requests received from auditors and loan examiners (internal as well as external, including regulators), prepare reports for regulatory and internal informational purposes, as well as work on any special projects as per business needs
• Mentor junior resources for the business
  
  

Qualifications

Bachelor's Degree and 8 years of experience in Maritime Finance, preferably in Lending, but will also consider experience in investment banking, private equity, securities research or other financial analysis focused on the maritme sector OR High School Diploma or GED and 12 years of experience.

Preferred Qualifications

• Degree with a concentration in finance or accounting preferred. MBA/CFA/CPA a plus.
• Formal credit training with experience in the underwriting and execution effort on senior debt transactions is preferred.
• Experience with structuring transactions and negotiating documentation is preferred.
• Strong communication and interpersonal skills; team player.
• Self-motivated with high energy levels; ability to prioritize and multi-task effectively.
• Must have a solid understanding of financial statements and capital structures, and possess strong analytical skills with an ability to question assumptions.
• Must have strong writing ability; will be expected to draft credit memoranda and annual reviews for manager’s review with minimal supervision.
  
  

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.

For NY the base pay for this position is relative to your experience but the range is generally $205,000- $250,000 annually

Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

Seniority level

• Seniority level

  Not Applicable

Employment type

• Employment type

  Full-time

Job function

• Job function

  Other

• Industries

  Banking and Financial Services

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