Director of Credit Underwriting

Description

About Bankwell:

Bankwell is a commercial bank with more than $3 billion in assets that serves the banking needs of businesses and individuals. At Bankwell, we pride ourselves on our unique ability to bring our clients high touch, high quality banking with the expertise and dedication of our experienced team of professionals. When it comes to business, our deep industry knowledge, flexibility and innovative treasury and financing services enable us to find the right solutions for our business and commercial clients. We’re passionate about giving back and are actively involved with many not-for-profit organizations that help shape and improve the lives of others. We’re dedicated to giving our time and talent to support the communities we serve. More about Bankwell can be found at www.mybankwell.com.

Summary of Position:

The Director of Credit Underwriting position is a senior leadership position in Bankwell and will plan, direct, coordinate, and oversee daily operations, workflow, and other activities of the Credit Underwriting department, and ensure that there is a consistent application of the Bank’s Loan Policy. 

Responsibilities include:

• Lead the overall credit underwriting function to ensure timely and accurate analysis of loan opportunities. 
• Responsible for monitoring loan maturities and coordinating with Private Client Group (PCG) management to ensure timely renewal analysis and minimize the number of administrative extensions
• Responsible for appropriate identification and application of policies. 
• Leads a team of 7 and is accountable for team management including but not limited to all staffing, training, and performance management of Credit Underwriting team.
• Establishes, implements, and monitors internal controls to minimize credit risk in collaboration with Director of Credit Risk Management, PCG and Small Business Administration (SBA) team management.
• Serves as a resource for structuring deals, identifying and approving Loan Policy exceptions prior to term sheet issuance and during underwriting, ensuring concentration limit compliance and regulatory compliance 
• Provides leadership and guidance on policies and procedures. Recommends changes/updates as appropriate.
• Participates in audit, regulatory examination and loan review preparation as necessary
• Attends Directors Loan Committee regularly and interfaces with members as required.
• Collects documentation and prepares Directors Loan Committee packages and disseminates to members and invitees.  
• Provides Board materials to Executive Administrator for inclusion in Board packages
• Ad hoc projects as needed.

Requirements

Qualifications & Skills:

• Minimum 10+ years’ experience in commercial credit at a commercial bank, credit union, or other lending institution
• Must be formally credit trained either through participation in another bank’s training program or industry or higher education training program 
• Minimum of 7 years of direct team leadership experience.
• Ability to function effectively, efficiently, and independently in a fast-paced and rapidly expanding environment
• Strong sense of integrity and personal ethics
• Strong verbal and written communication skills
• Adheres to all applicable Policies and Procedures
• Bachelor’s degree required with a focus in either finance or accounting preferred, related Master’s degree program in finance or accounting or commensurate experience 
• Experience as a lender is a plus
• Familiarity with Loan Operating System or Credit Underwriting Software such as Abrigo preferred 

Objectives:

• Establish underwriting standards – develop, implement, and refine underwriting guidelines and credit procedures for complex commercial loan products
• Exercise authority – independently approve, decline or recommend credit actions up to specified limits
• Optimize workflow – manage and streamline the loan underwriting pipeline to ensure efficiency and meet turnaround time (SLA) requirements
• Influence credit culture – model and reinforce the Bank’s credit culture and risk management approaches throughout the organization
• Partner with the Private Client Group Managers and sales teams to achieve portfolio growth goals while ensuring prudent underwriting
• Deal structuring – provide expertise in loan structuring, covenant negotiation and financial modeling for complex transactions
• Regulatory Adherence – ensure all credit actions adhere to internal policies, procedures and regulatory requirements (exams, audit, loan review)
• Technology Advancement – drive adoption of AI, credit decision engines and analytics tools to enhance efficiency and risk accuracy

KPIs

• Efficiency – average loan turnaround time 
• Policy compliance – number of audit findings or policy exceptions

FLSA Status: Exempt

This job description is a general description of essential job functions. It is not intended as an employment contract, nor is it intended to describe all duties someone in this position may perform. All employees are expected to perform tasks assigned by supervisory personnel, regardless of job titles or routine job duties.

Bankwell is committed to a policy of Equal Employment Opportunity and will not discriminate against any applicant or employee on the basis of race, color, religion, sex, sexual orientation, national origin or ancestry, age, physical or mental disability, veteran or military status, marital status, or any other legally recognized protected basis under federal, state or local laws.

Applicants with disabilities may be entitled to reasonable accommodation under the terms of Americans with Disabilities Act and certain other state or local laws. Please inform Bankwell’s Human Resources representative if you need assistance completing any forms or to otherwise participate in the application process.

All employees are responsible for complying with banking regulations that apply to Bankwell. This includes, but is not limited to, adhering to the BSA and various consumer protection regulations, and complying with OFAC sanctions. Employees are required to complete compliance training and follow policies and procedures for applicable regulations based on their role. An employee’s failure to comply with banking regulations will be individually reviewed and assessed. The result of non-compliance may impact job performance ratings and may be serious enough to require termination of employment.