LEAD WEALTH UNDERWRITER - SPECIALTY FINANCE LIFE INSURANCE PREMIUM FINANCE

Hispanic Alliance for Career Enhancement; New York (NY); On-site; USD 96,000 - 172,000; Full time

Job summary

An established industry player is seeking a Lead Wealth Underwriter to join its Wealth & Investment Management team. This role involves underwriting and managing complex financial transactions for ultra-high-net-worth individuals, ensuring compliance with regulatory policies, and collaborating with internal partners. The ideal candidate will have extensive experience in wealth underwriting, strong analytical skills, and a proven track record in managing complex credit situations. Join a dynamic team that values diversity, equity, and inclusion while helping clients achieve their financial goals.

Benefits

401(k) Plan

Paid Time Off

Disability Benefits

Life Insurance

Parental Leave

Critical Caregiving Leave

Discounts and Savings

Qualifications

• 5+ years of experience in Wealth Underwriting or equivalent.
• Strong knowledge of financial accounting and loan products.

Responsibilities

• Lead financial analysis and due diligence for UHNW clients.
• Manage loan portfolio performance and compliance.

Skills

Wealth Underwriting

Financial Statement Analysis

Loan Structuring

Credit Skills

Interpersonal Skills

Communication Skills

Education

Bachelor's Degree

Relevant Work Experience

Job description

At Wells Fargo , we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.

Help us build a better Wells Fargo . It all begins with outstanding talent. It all begins with you.

Wealth & Investment Management (WIM) is one of the United States' leading providers of financial and investment services. We offer a full range of personalized wealth management, investment, planning, and retirement products and services to help meet clients' unique needs and to help them pursue their financial goals more confidently. We bring together subject matter expertise, products, and services, so it's easier for clients to do business with us and for advisors to support their clients.

Banking, Lending, & Trust (BL&T) unlocks access to Wells Fargo Bank products and services to high-net-worth and ultra-high-net-worth individuals and families based on needs related to banking, custom lending, and trust services. These bank specialists leverage resources, valuable research, relationships, custom solutions, and highly tuned strategies to address clients' unique needs and aspirations.

Provides support to WIM in providing services to affluent, high net worth and ultra-high net worth individuals, families, family offices and charities. BL&T further provides legal guidance on a variety of banking and fiduciary topics including investment management, general trust administration, specialty trusts, custody, tax, specialty assets, regulatory, privacy, ecommerce, deposit relationship and strategy, and business strategies. The section also provides support to the WIM Diverse Segments group, including WIM referral activity.

About this role :

Wells Fargo is seeking a Lead Wealth Underwriter to join its Wealth & Investment Management Specialty Finance Group (SFG). SFG is a national team within WIM that provides specialized expertise in structuring, underwriting and managing large and highly complex commercial-type credits for Ultra High Net Worth individuals and families.

One of SFG's primary offerings is Life Insurance Premium Finance (LIPF), with a current portfolio of ~$2B. The Underwriter will primarily be responsible for underwriting and executing new LIPF transactions, as well as monitoring a portfolio of LIPF credits. The underwriter will also have an opportunity for exposure to SFG's other offerings including liquid secured, fine art, aircraft, unsecured and other unique collateral types...

In this role, you will :

• Spearhead financial analysis and due diligence around UHNW sponsors; distill complex credit situations into key risks / mitigants and clear and concise underwriting memos for consumption by senior leaders and credit-risk decision makers;
• Develop subject matter expertise in the LIPF space to ensure seamless presentation and analysis of key sponsor and collateral considerations.
• Lead loan structuring and as well as negotiations of legal documentation of loan transactions with outside counsel;
• Ensure compliance with company / regulatory policies and procedures;
• Manage a loan portfolio to ensure loan performance and compliance with key financial reporting and covenant requirements, premium funding / draw schedules, maintenance of risk rating accuracy, and escalation of any developing issues.
• Manage on-going relationships with internal business partners including Custom Credit Bankers, Relationship Managers and leaders across product and relationship teams as well as borrowing clients and their family office personnel
• Lead complex initiatives including those that are cross-functional with broad impact and act as a key participant in large-scale planning for Wealth Underwriting
• Review, analyze, and evaluate complex challenges related to multi-faceted, larger scale high-net-worth loans structures, existing portfolio issues, and complex business, operational, or technical challenges that require an in-depth evaluation of multiple factors including intangible or unprecedented factors, present recommendations for resolution
• Make decisions on complex and multi-faceted credit risk management issues to ensure satisfactory credit portfolio risk examinations requiring solid understanding of Wealth Underwriting functional area policies, procedures, regulations, and compliance requirements that influence and lead the Wealth Underwriting team to meet deliverables and drive new initiatives
• Strategically collaborate and consult with Wealth Underwriting peers, colleagues, and mid-level to senior level managers to resolve issues and achieve goals; serve as a peer mentor
• Partner with Custom Credit Banker and Financial Advisor to provide guidance on due diligence, credit, and loan document negotiations with clients

Required Qualifications :

• 5+ years of Wealth Underwriting experience, or equivalent demonstrated through one or a combination of the following : work experience, training, military experience, education

Desired Qualifications :

• Thorough knowledge of financial accounting theory and logic, financial statement analysis, loan structuring and commercial banking products and services.
• Good credit skills including an ability to structure, negotiate, and document a broad range of loan types, structures and complex requests.
• Strong interpersonal, communication, writing and partnering skills.
• Ability to make sound, independent business and credit decisions.
• A background in wealth or commercial lending / underwriting is preferred. Familiarity with esoteric collateral asset classes including, but not limited to life insurance, alternative assets, illiquid stock, art, etc. is a plus
• Experience in capital markets, commercial / corporate / investment banking, commercial real estate lending or similar is desired.

Job Expectations :

• Specific compliance policies may apply regarding outside activities and / or personal investing; affected employees will be expected to provide information to the Wells Fargo Personal Account Dealing Team and abide by applicable policy requirements if hired. Information will be shared about expectations during the recruitment process.

Pay Range

Reflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to achievements, skills, experience, or work location. The range listed is just one component of the compensation package offered to candidates.

96,600.00 - $171,800.00

Wells Fargo provides eligible employees with a comprehensive set of benefits, many of which are listed below. Visit Benefits - Wells Fargo Jobs for an overview of the following benefit plans and programs offered to employees.

• 401(k) Plan
• Paid time off
• Disability benefits
• Life insurance, critical illness insurance, and accident insurance
• Parental leave
• Critical caregiving leave
• Discounts and savings

Posting End Date : 20 Apr 2025

• Job posting may come down early due to volume of applicants.

We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.

Candidates applying to job openings posted in US : All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.

Applicants with Disabilities

To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo .

Drug and Alcohol Policy

Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.

Wells Fargo Recruitment and Hiring Requirements :

a. Third-Party recordings are prohibited unless authorized by Wells Fargo.

b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.

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