Factoring/Abl Underwriter

Seacoast National Bank Tampa , FL 33602

Posted 3 months ago

Seacoast Business Funding is dedicated to finding the right Accounts Receivable Factoring or Asset-Based Lending solutions for business-to-business companies with over $1 million in revenue. As a division of Seacoast Bank, one of the largest community banks headquartered in Stuart, Florida, with approximately $8.3 billion in assets and $6.7 billion in deposits, Seacoast Business Funding is able to offer stable access to capital that scales with our clients evolving needs. The Underwriter will be responsible for performing a detailed risk analysis of prospective clients, for Factor and ABL transactions, enabling a sound credit decision to be made resulting in the best possible transaction structure according to Seacoast Business Funding loan policies and procedures.

Essential Duties and Responsibilities:

  • Review, evaluate, and determine risk factors, pricing, and transaction structure for each prospect.

  • Perform financial and debt service analysis, industry review, UCC analysis, and background and credit searches.

  • Communicate with prospects, Business Development Officer, Portfolio Manager, and/or Regional Manager to determine any upfront concerns for clarification purposes.

  • Review field exam reports and findings for each prospect and resolve any outstanding concerns.

  • Perform collateral analysis and review.

  • Prepare Credit Authorization Request/packages for approval.

  • Participate in negotiations and documentation review for each transaction.

  • Participate in conference calls and meetings with Senior and Executive Management as needed.

  • Recommend each transaction for approval or declination.

  • Must have experience with Account Receivable and Inventory Financing.

  • Respond to prospect requests in a timely manner, whether via email or phone.

  • Request prospect and customer information as needed.

  • Keeps current on industry standards and regulatory changes.

  • Prepare special reports as needed.

  • Complies with established policies and procedures.

  • Performs other duties as assigned.

Qualifications:To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skills, and/or abilities required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Complexity of Work: Semi-routine, decision making required daily.

Education: Bachelor's degree from a four-year college or university required; preferably in Accounting/Finance or Business.

Experience: 4-8 years: Four plus years experience in an Underwriting position at a Factor, Asset Based Lender, Investment Bank or Commercial Financial Services firm; or equivalent combination of education and experience.

Knowledge, Skills, and Abilities:

  • Considerable knowledge of Asset Based Lending and factoring services

  • Considerable knowledge of corporate finance, economics, and general trade practices

  • Considerable knowledge of accounting principles, practices, methods, and procedures

  • Skill in financial statements, cash flow, credit, and collateral analysis

  • Skill in spreading financials

  • Skill in negotiating legal documents

  • Skill in financial modeling

  • Skill in conflict resolution

  • Ability to convert loan data into a narrative report addressing the financial condition of the borrower and its principals

  • Ability to use judgment and arrive at an underwriting decision based on available information

  • Ability to keep accurate records

  • Ability to utilize software packages including financial/accounting software and MS Office

  • Ability to meet deadlines

  • Ability to prioritize and work in an organized manner

  • Ability to understand financial information

  • Ability to handle stressful situations

  • Ability to maintain confidentiality

  • Ability to communicate effectively verbally and in writing

  • Ability to establish and maintain effective working relationships with employees, clients and outside contacts

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee is regularly required to sit, use hands to handle or feel objects, tools or controls, frequently talk or hear, reach with hands and arms occasionally required to stand, stoop, kneel, crouch or crawl. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include: close vision.

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Factoring/Abl Underwriter

Seacoast National Bank