Director of Commercial Underwriting

at First Investors Financial Services, Inc.
Location Houston, Texas
Date Posted August 1, 2022
Category Trades & Services
Job Type Not Specified

Description

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Stellantis Financial Services (SFS) is the new captive finance company for one of the world's leading automakers and a mobility provider with iconic brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep , Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys.

Our exciting growth provides opportunities to advance your career as we successfully lead products and services from a small to midsize company in just a few years. Join our world class team and culture and contribute to our core mission which is enhancing our customer's experience.

Job Summary

The Director of Commercial Underwriting will lead a region-based team that will conduct the financial analysis for floorplan acquisitions and other associated commercial lending, including real estate. Responsible for all facets of commercial credit packages, including clear communication of risks and any recommended mitigation strategies, consulting with SFS Legal to protect SFS interests, maintenance of UCC filings, and review of loan documentation prior to funding. As we are a new department, this is an opportunity to help shape a captive automotive commercial lending department for long term success. The first several months will be spent in part developing processes and policies, working with key vendors on systems, and generally building out the department.

Essential Duties and Responsibilitiesinclude the following.

  • Effectively develop and lead a professional Commercial team. Foster an environment of learning and ownership. Focus on team members development and growth.
  • Underwriting commercial loan requests by analyzing the financial condition of the dealerships via financial statements, tax returns, CPA statements, general ledgers, trial balances, account schedules, bank statements, or any other necessary documentation
  • Cash flow analysis and pro forma forecasting and scaling
  • Full understanding of dealership entity legal ownership structure and clear, concise explanation of those structures. Ensure appropriate security (guarantees, collateralization) are recommended per both the risk profile and ownership structure of the dealership.
  • Direct package decisioning to the appropriate authority level per SFS policy. Present, communicate package details as required by that authority level, including recommendation.
  • Ownership of UCC filing process, ensuring legal security matches that defined in the credit package
  • Timely and clear communication to key stakeholders through the underwriting process. Obtain answers to any questions re: the financials, line amounts, loan structure, or any other relevant facets of the loan
  • Maintain a customer focus throughout the underwriting process; no shortcuts, but be aware of timing and relevance of requests of dealers to the final product
  • Final review of loan documentation and take-over audit prior to loan funding
  • Periodic account reviews and maintenance
  • Ad hoc projects as needed

CompetenciesTo perform the job successfully, an individual should demonstrate the following competencies:

  • Leadership- Owns the activities and outcomes of the team. Makes SFS a great place to work for team members. Fosters an environment of continuous learning and improvement. Helps build a strong bench of future managers through development of team members
  • Attention to detail- ability to work accurately and to identify, analyze, prevent and solve problems.
  • Customer Service- Manages difficult or emotional customer situations; Responds promptly to customer needs; Solicits customer feedback to improve service; Responds to requests for service and assistance; Meets commitments.
  • Interpersonal Skills- Ability to work with others, ability to gain credibility, provide effective customer service and foster positive working relationships with internal and external stakeholders.
  • Oral Communication- Able to translate, summarize, and communicate complex ideas and clearly articulate concepts to multiple audiences.
  • Teamwork- Balances team and individual responsibilities; Contributes to building a positive team spirit.
  • Quality Management- Looks for ways to improve and promote quality; Demonstrates accuracy and thoroughness.
  • Ethics- Treats people with respect; Keeps commitments; inspires the trust of others; Works with integrity and ethically; Upholds organizational values.
  • Organizational Support- Follows policies and procedures; Completes administrative tasks correctly and on time; supports organization's goals and values.
  • Planning/Organizing- Uses time efficiently; able to perform and prioritize multiple tasks seamlessly.
  • Professionalism- Approaches others in a tactful manner; Reacts well under pressure; Treats others with respect and consideration regardless of their status or position; Accepts responsibility for own actions; Follows through on commitments.
  • Quality- Demonstrates accuracy and thoroughness; Applies feedback to improve performance.
  • Adaptability- Changes approach or method to best fit the situation; Able to deal with frequent change, delays, or unexpected events.
  • Dependability- Follows instructions, responds to management direction; Takes responsibility for own actions; Commits to long hours of work when necessary to reach goals; Completes tasks on time or notifies appropriate person with an alternate plan.
  • Initiative- Asks for and offers help when needed.
  • Innovation- Meets challenges with resourcefulness; Generates suggestions for improving work.

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, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions

  • Education and/or ExperienceThe knowledge, skills and abilities typically acquired through the completion of a college degree or MBA.Candidates should have at least 5 years automotive commercial underwriting experience or related experience. At least 3 years of experience in managing a commercial underwriting team is preferred.
  • Financial SkillsCandidates should have extensive knowledge of accounting, financial statement analysis, cash flow and dealer workout and ability to interpret key financial ratios as defined by SFS.
  • Mathematical SkillsAlgebraic calculations are periodically required to calculate items relevant to a commercial contract or line of credit.
  • Computer SkillsToperform this job successfully, an individual should have beginning to intermediate MS Office skill in Excel, Word and PowerPoint.
  • Other Qualifications Knowledgeof industry specific web based tools such as DataScan, Docusign, etc.

Physical DemandsThe 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 type; reach with hands and arms and talk or hear. The employee is occasionally required to stand; walk and 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.

Work EnvironmentThe work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.

Work ScheduleThis position requires the ability to work various shifts to accommodate business needs. Typically, between the hours of 8AM-6PM Monday through Friday and on weekends as needed. Travel is required 20% of the time.

Compensation

Targeted compensation for this role is $110,000 - $140,000, paid on a bi-weekly basis. This role is also commission eligible.

Location:

We are currently seeking candidates in the following locations:

  • Houston, TX

Stellantis Financial Services, Inc (SFS) is an equal opportunity employer and is committed to providing its employees an environment that is free of harassment, discrimination and intimidation. It is the policy of SFS to comply with all applicable employment laws and regulations and to provide equal opportunity for all qualified persons and to not discriminate against any employee or applicant for employment because of race, color, religion, sex, age, national origin, disability, pregnancy, sexual orientation, veteran status, gender identity or expression, change of sex, and/or transgender status or any protected status. Candidates must possess authorization to work in the United States. This policy applies to recruitment and placement, promotion, training, transfer, retention..... click apply for full job details

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