Senior Underwriter/Portfolio Manager - Sponsor

Overview

This is a hybrid role with the expectation that time working will regularly take place inside and outside of a company office.

At First Citizens Bank, we believe meaningful careers are built through meaningful relationships. For more than 125 years, we've supported our clients, communities and colleagues through a culture rooted in connection, collaboration and long-term success.

First Citizens Sponsor Finance provides cash flow and asset based senior debt for private equity-backed transactions in the middle market and lower middle market throughout the United States

As VP, Sr Underwriter Portfolio Manager Sponsor Finance, this is an opportunity to work within a small and growing group for a top 20 bank with significant advancement opportunities both in the department and other functional areas of First Citizen’s Commercial Bank. Assume lead responsibilities within a team construct towards credit underwriting and portfolio management across diverse debt solutions for private equity backed middle-market companies transactions including (i) LBO Financing, (ii) Acquisition Financing, (iii) Debt Refinancing, and (iv) Recapitalizations. The role encompasses working with external stakeholders including potential borrowers, private equity teams, and other Lenders. This position uniquely encompasses a combination of portfolio management role and work on new underwriting prospects.

Responsibilities & Qualifications

Duties & Responsibilities:

Underwriting – Underwrites new and existing Sponsor accounts according to applicable regulations, procedures, and guidelines. Reviews financial statements, communicates with clients or prospects, and performs analysis to recommend borrower risk ratings and appropriate loan structuring. Ensure all parties involved are updated on underwriting progress and outcome. Provides guidance to less experienced underwriters through knowledge of underwriting procedures and information needs.

Portfolio Management - Manages assigned portfolio by monitoring performance and trends, proactively defining client credit solutions, identifying issues and following through for remediation. Candidates will act as primary contact to Borrower’s CFOs and Controllers and manage bank group syndicates when First Citizens serves as Administrative Agent. Specific portfolio management duties include: i) monitoring individual accounts for performance and covenant compliance trends; ii) underwriting add-on financing requests or waivers and amendments; ii) ensuring accurate and timely portfolio risk ratings, annual reviews and financial statement spreading; iv) training and mentoring junior resources; and v) maintaining credit files in preparation for internal or external audits, compliance and regulatory reviews.

Client Service - Maintains ongoing communication and contact with assigned loan clients. Fortifies relationships and monitors client satisfaction. Analysis - Sources, compiles, and interprets financial data to support structuring and approval of loans. Reviews industry information and comparisons, key risks and mitigants, and collateral to form a general business overview of the borrower. Utilizes results of analysis to underwrite loans.

Risk Management - Identifies risks through reviews, analysis, and research of new and existing loans. Works closely with Bank associates and partners to resolve risk issues, communicating review schedule and potential changes in the portfolio. Assists in coordinating review and renewal schedules for existing credits, facilitating ongoing risk identification and management.

Qualifications:

Minimum Required Education and Experience: Bachelor's Degree and 6 years' experience OR High School Diploma or GED/Equivalent and 10 years' experience in Credit analysis, underwriting or Risk Management

Preferred Skills:

• Bachelor’s degree in business, Economics, Finance
• At least 6 years underwriting experience in Commercial/Leveraged lending within financial institutions
• Thorough understanding of credit, structuring, legal and collateral requirements. Experience in negotiating documentation and / or credit agreements.
• Completion of a formal credit training program.
• Ability to function both independently and as part of a deal team
• Demonstrated deal structuring, analytical and quantitative skills
• Strong writing, communication and presentation skills
• Time management skills to efficiently handle multiple tasks with changing priorities. Demonstrated ability to anticipate and solve problems, then take initiative to drive processes forward and make recommendations
• Strong working knowledge of Microsoft Excel and how to build/analyze complex financial models with assumption drivers appropriate for a particular business model and industry
• Strong analytical, quantitative, credit and problem-solving skills.

Additional Information

The base pay for this position is generally between $150,000 and $185,000. 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

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.

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