Head of Commercial Underwriting

Grasshopper Bank; New York (NY); Remote; USD 180,000 - 240,000; Full time

Job summary

Grasshopper Bank is seeking a strategic Head of Commercial Underwriting to lead underwriting and portfolio management for its Commercial portfolio, reporting to the Chief Credit Officer to manage aggregate risk and ensure sound lending policies.

The role will coach a high-performing underwriting team, coordinate with the executive team on budgeting and market trends, and ensure regulatory compliance and timely decisioning across the portfolio.

Qualifications

• Bachelor's degree in a related field with emphasis on lending, compliance or audit.
• 8–10 years' experience in bank lending, underwriting, loan review or compliance.
• Senior level experience in all facets of commercial lending.

Responsibilities

• Interface with CCO and Deputy CCO to meet loan quality and risk rating goals with proper reporting.
• Meet compliance targets for annual reviews, risk ratings, covenant compliance and collateral monitoring.
• Approve credit requests based on delegated authority and provide critical views on new business, modifications and renewals.
• Build and coach a strong portfolio management and underwriting team; perform personnel actions and provide leadership over underwriters/portfolio managers.
• Interface with executive team and finance to ensure budgeting/expense control and understand market trends.
• Examine files for credit and collateral documentation, regulatory compliance and loan policy conformance.
• Prepare analyses on large loans, aggregate lending vs indebtedness, complex or weak loans.
• Identify problem loans; discuss status with CCO and senior lending officers; identify non-accrual or charge-off cases.
• Manage workout of problem loans and review financial statements to assess liquidity and collateral value.

Skills

Commercial lending

Underwriting

Credit risk management

Leadership

Regulatory compliance

Education

Bachelor's degree

Lending training

Compliance training

Job description

Head of Commercial Underwriting

Department: Credit

Employment Type: Full Time

Location: Remote

Description

Grasshopper Bank is a client-first, digital bank built for the business and innovation economy, with an obsession for providing leading-edge technology, solutions-driven products and superior service through a combination of passionate people and digital resources.

We are a highly experienced team who pride ourselves on diversity of thought and perspective. Nationally chartered, our portfolio of products and services range from VC, PE & Portfolio Companies to SBA Lending, as well as direct SMB and Embedded Banking.

Our entrepreneurial drive allows us to support the growth and success of a wide range of clients at every stage of their business through inclusive partnership. We seek out team members who will enable both our organization and our people to grow and thrive through collaboration and acting with integrity and respect.

Our focus on cross-functional teamwork provides a culture where ideas are valued, accountability is encouraged, and successes are celebrated. We welcome all those searching for the opportunity to contribute to banking innovation that influences and supports the emerging digital world of Financial Services.

Our digital first approach enables our teams the flexibility to work remotely. We have offices in NYC and Boston.

What you'll do:

The Head of Commercial Underwriting will be responsible for managing the timely execution of underwriting and portfolio management processes throughout the Bank's Commercial portfolio. You will work with the Chief Credit Officer to manage the aggregate risk in the Bank's loan portfolio, and ensure that commercial credit and collection policies, processes and procedures appropriately mitigate the risks inherent in any loan portfolio. This role will coordinate the management and work-out of problem credits, recommending appropriate strategies, attainment of lending objectives and the overall direction and operations of Commercial underwriting.

Responsibilities include:

• Interface with the CCO and Deputy CCO to ensure the Commercial loan quality and risk rating goals are met while the proper reporting is consistently delivered and communicated
• Meet compliance targets for annual reviews, risk ratings, covenant compliance and collateral monitoring
• Approve credit requests based on delegated approval authority granted while providing critical views on credit requests (including new business, modifications and renewals)
• Build and coach a strong portfolio management and underwriting team through internal development and external talent acquisition. Perform all required personnel actions. Provide leadership over underwriters/portfolio managers supporting the Commercial portfolio
• Interface with the executive team and finance to ensure: (1) budgeting and expense control goals are set and properly met; (2) overall performance goals of the Bank are understood and (3) market trends are analyzed
• Examine files periodically for assurance of credit and collateral documentation, regulatory compliance and loan policy conformance; review technical exceptions and deficiencies
• Prepare written analyses on all large loans, aggregate lending vs. indebtedness for individual borrowers, complex loans and weak loans
• Identify problem loans; discuss the status of problem loans with the CCO and other senior lending officers; identify loans meeting non-accrual or charge-off criteria
• Manage the workout of "problem loans"
• Review the analysis of financial statements for both proposed and existing customers to determine present and future financial strength, liquidity, debt service coverage and value of collateral
• Review discounted cash flows or capital rate analysis to determine future financial performance and asset values
• Review internal asset reviews of existing borrowers for quarterly management review

What you need:

• Bachelor's degree (B.A.) plus additional lending, compliance and audit related training
• Minimum 8 - 10 years' experience in bank lending, underwriting, loan review and/or compliance experience or equivalent education in bank lending, loan review/compliance procedures and policies
• Senior level experience in all facets of commercial lending