Director Commercial Underwriting
- Jericho, NY
Are you highly motivated, detailed oriented and passionate about preparing for your career? Then we are looking for someone just like YOU to join our team!
We look for people who can dream, think, create and grow. Our culture thrives on embracing and rewarding imagination and is characterized by an unwavering commitment to high achievement. We pride ourselves on sharing ideas, diversity of thought and embracing dedicated, talented and driven individuals who value honesty, integrity and go above and beyond. As we continue to grow we need YOU to meet our demands for success.
We have developed and executed differentiated strategies that are helping us thrive in a rapidly changing industry.
There is no shortage of talent - we work hard to make Sterling an employer of choice.
None of the bureaucracy found in larger banks - open door policy with all executives.
One Dream, One Team, One Purpose, One Culture
Our Single Point of Contact model ensures every client and colleague feels valued and knows who to reach out to for specific guidance. Our purpose is to use the power of banking to move our company forward. We believe in a fair, ethical, and sustainable future-one where everyone thrives on a compliant and level playing field.
We are a results-driven culture, with a keen focus on collaboration + acceleration. We work hard, We win as a team, and We honor the diversity of skills brought by the collective.
What's in it for YOU
We aim to help you figure out exactly where you see yourself in our business. Whatever your passion, we will support you in getting the skills necessary to make your mark.
The Director Commercial Underwriting supports and manages a team of C&I and CRE Underwriters, and their activities related to underwriting credit risk associated with commercial loans, loan grading, commercial loan portfolio management, and other various risk mitigating related activities. The role is tasked to effectively manage and prudently apply assigned loan grading authority in a manner which appropriately balances client risk characteristics with Bank policies, procedure, established guidelines, goals and objectives.
This leadership position in conjunction with the Segment Executives and Director Portfolio Management, drives the direction, administration and coordination of credit risk activities for the Bank in accordance with the policies, goals and objectives established by the Corporate Bank President, Credit Risk Management, the Chief Credit Officer and Board of Directors. This position drives the ongoing refinement of SNB's underwriting and risk management programs across the C&I, CRE and select Vertical & Support Segments. The Director oversees comprehensive processes for assessing, identifying, monitoring, testing, managing and reporting on all dimensions of credit risk from initial underwriting through credit approval and on-going monitoring. The Director, is a recognized leader in all dimensions of credit risk management, and engages senior leadership responsible for the credit and data quality of the Corporate Bank.
Embrace and deliver Sterling National Bank's brand values and core competencies in everyday interaction. Exhibit ethical behavior and integrity in everyday business conduct.
Manage underwriting documents, appraisal and environmental reviews, other credit investigations including the conduct of OFAC screening of all new clients during the credit review process. As the Director Commercial Underwriting, you will provide oversight to the analysts on all due diligence requirements, including HMDA reporting, which are to be performed with the goal of being informative, evaluative and to provide critical support for the credit decision making process.
- Assist in developing credit analysis methodologies that facilitate a streamlined, efficient and consistent credit process standards bank wide.
- Perform a variety of activities that facilitate loan activity as a consequence of strong operational coordination and cooperation between the regional commercial lending and the credit teams. Establish and manage formal and informal methods of communications and sharing of information in order to support all lending activity.
- Work independently and manage teams of Underwriters supporting commercial business development, retainage and management efforts through the timely production of informative and evaluative credit documents and underwriting materials
- Assist in various projects and analyses pertaining to credit quality, portfolio management, credit policies and procedures. Working directly with the Commercial Lending Group team and credit leadership, take an active role identifying opportunities to improve the weighted average risk rating of the loan portfolio.
- Participate in the Bank's annual review process of external providers of commercial real estate and environmental appraisals with recommendations for additions and deletions based on service levels and quality measures.
- Manage critical portfolio management, periodic reporting activities and other departmental responsibilities as assigned including but not limited to: the criticized/classified report, provide support for the annual review of critical vendors (when needed) and counter-parties, loan policy exception tracking, the appraisal tickler report for criticized/workout assets, muni ACH underwriting, portfolio stress testing and the timely review of appraisals; internally and externally.
- Effectively manage and prudently apply assigned loan grading authority in a manner that appropriately balances client needs with Bank policies, procedure and established guidelines.
- Manage assigned critical portfolio management, periodic reporting activities, including maintaining copies of OFAC screening results and Security/BSA's responses in the Credit Track File or approved COM for the client along with other departmental tasks. Manage critical vendor relationships with real estate appraisers and environment firms.
- Provide feedback regarding observed training needs, portfolio and risk management practices and modifications of credit policies and procedures as may be appropriate.
- Lead the Credit Risk Measurement and Monitoring Frameworks: Models and Systems - Drive system implementation projects in the credit risk space (e.g. Moody's Credit Lens, Moody's Risk Calc,,CMM, Dual Risk Rating etc) by coordinating with the Risk team and providing requirements and design inputs and engaging both IT and the user population. Act as liaison to Credit and Credit Risk Management in ensuring that sound credit risk measurement and monitoring frameworks/models are developed and implemented throughout the group in a standardized manner. Participate in Moody s user groups
- In conjunction with the Segment Executives and Credit/Risk partners you will continuously monitor the credit quality of loan portfolios. This involves overseeing timely annual reviews, covenant compliance checks and appropriate collateral monitoring. Ensure that monitoring processes are appropriately identifying deteriorating credits and that controls are in place to take appropriate actions to mitigate risks. Act as a consultant to business lines regarding credit issues, processes and procedures.
- Regulatory, Loan Review and Audit Liaison - Enhance underwriting procedures and portfolio monitoring by upgrading and standardizing analytical tools such as stress testing, global cash flow and valuations. Implement credit risk processes, data enhancements, procedures or systems updates needed to address issues raised in regulatory, loan and audit reviews. Train current and new colleagues. Analyze trends and development of regulations / guidelines. Raise pertinent issues tor Executive Management and other internal stakeholders.
- Portfolio Reporting and Analytics - Contribute proactively to both internal and external credit risk measurement and reporting initiatives (e.g. ALLL, CECL, Portfolio Stress Testing, Dual Risk Rating. and Risk Rating Migration, Impaired Loans and Charge Offs). Contribute to resolution of issues arising from portfolio reporting and analytics.
- Ensure compliance with all regulations, policies and procedures.
Who We Want
- 20 years of experience at financial institutions and/or rating agencies with responsibilities in the areas of underwriting, credit risk data, analytics and management.
- Combines project management experience with a solid understanding of credit risk gained through prior experience either at a rating agency or within a credit review role at a bank
- Proven track record of strong leadership and executive relationship building required. Ability to manage large teams in multiple departments or large projects impacting multiple departments
- Experience serving as lead voice in regulatory relationships.
- Candidates with advanced degrees (Bachelor's and/or Master's) preferred. Candidates with some combination of coursework and experience, or else extensive related professional experience, are eligible for consideration. Formal credit training preferred.
- Thorough understanding of the evolving practices for the management of Credit Risk and related regulatory requirements including CECL, PD and LGD as well as evolving regulatory guidelines in this space.
- Extensive familiarity with diverse credit portfolios, both asset backed and cash flow lending
At Sterling National Bank, we rely on diversity of culture and thought to deliver on our goals. To ensure this we seek talented, qualified people for all of our career opportunities, regardless of race, color, sex/gender, including pregnancy, gender identity and expression, national origin, religion, sexual orientation, disability, age, marital status, veteran status, or any other protected classification under federal, state and/or local laws. Sterling National Bank is proud to be an Equal Employment Opportunity/Affirmative Action Employer providing a drug-free workplace.
All Applicants must be eligible to work in the U.S. without company sponsorship, now or in the future, for employment-based work authorization. H1-B and green card sponsorship is not available for any position and we will not consider F-1 visa holders with Optional Practical Training (OPT) who will require H-1B status, TNs, or current H-1B visa holders for employment opportunities.
All offers for employment with Sterling National Bank are contingent on successful completion of background investigation, including drug and fingerprint screening.
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