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Senior Commercial Lending Underwriter

Company: Cox Automotive
Location: Carmel
Posted on: November 18, 2021

Job Description:

Primary Location: 11799 N College Ave, Carmel, IN, USA
Division: Cox Automotive
Job Level: Individual Contributor
Travel: No
Schedule: Full-time
Shift: Day Job
Requisition Number: 217343
Lendings role is to protect corporate assets through a quality, detailed and thorough analysis of a submitted loan package. Lending provides business customers with a streamlined, expedient, and custom-tailored loan proposal. Lending is a member of a diverse organization, working closely with sales professionals, Performance Managers, C-Suite executives, legal professionals, and risk professionals. The Senior Commercial Underwriter underwrites complex commercial loan packages for new and existing dealers through extensive analysis of financial and performance data. This independent analysis function is designed to provide an in-depth evaluation of the strengths and weaknesses in commercial loan requests that will assist in determining if the overall risk is acceptable.
Senior Commercial Underwriter possesses analytical skills to identify opportunities and risks for prospective and existing Borrowers in the automotive industry. Analyze historical financial statements and projections, determine risks and mitigates, describe the background of the Borrower and conduct industry and competitive analysis. Utilize models to evaluate the strength of borrowers cash flow and its ability to provide for primary and secondary sources of revenue to ensure repayment. Transactions include individual or corporate guarantors, underwrite their financial strength and perform a cash flow analysis, including the analysis of personal financial statements and personal/corporate tax returns. Perform business and financial analysis and a general review of the overall business structure of the borrower, perform trend analysis and covenant compliance calculations. Provide recommendations for risk ratings. Complete analysis related to depository accounts and identifying risks related to cash management. Perform credit analysis and annual reviews of borrowers which include industry third party vendors. Leverage resourcefulness, decisiveness, adaptability, and effective time management skills to meet service level agreements in a dynamic market.
Position Duties:

  • Issue definitive credit decisions on commercial loans typically ranging between $1,000,000 - $30,000,000 while ensuring alignment with organizational goals and established credit policies.
  • Spread and complete an analysis of financial statements including balance sheet, income statement, and statement of cash flow.
  • Identify and evaluate financial trends.
  • Generate key financial ratios and interpret metrics including margin, liquidity, leverage, profitability, efficiency, and debt coverage ratio.
  • Write a detailed summation of borrowers financial performance, health, and profile.
  • Identify and infer varying line items of balance sheet and income statement.
  • Detect and identify varying sources of business revenues.
  • Analyze pro forma and cash budgets.
  • Calculate lender yield and recommend appropriate pricing based on risk profile.
  • Identify and analyze borrowers debt structure.
  • Understand debit and credit journal entries derived from borrowers transactions and their impact on financial analysis.
  • Identify and evaluate borrowers financial strengths and weaknesses as it relates to the loan request.
  • Analyze implications of effective loan rate on borrowers cash flow and balance statement.
  • Decision for key risks and opportunities while weighing risk versus return.
  • Assess and determine additional or current collateral requirements.
  • Evaluate and analyze borrower performance based on internal measurements and reports to include inventory management, payment history, audit reconciliation, and covenants.
  • Conduct a due diligence audit and highlight findings on defaulted accounts.
  • Evaluate and interpret principals personal liquidity, leverage, debt-to-income ratio, and asset verification including relationship to borrowers financials.
  • Illustrate the key characteristics of a personal tax return as it relates to the loan request.
  • Distinguish information from personal and commercial credit bureau and describe material factors.
  • Perform industry analysis and understand borrowers financial ratios relative to peers.
  • Analyze operating business cycles and markets within the automotive industry.
  • Identify industry, market, and management risks that can affect a borrower.
  • Analyze complex organizational structures.
  • Review legal documentation to ensure transactions are accurately structured and adequately secured.
  • Research and analyze UCC filings in the United States and PPSA / Hypothec filings in Canada to determine priority and nature of each filing and effect on loan package.
  • Ensure accuracy and compliance regarding U.S. and Canadian loan documentation.
  • Ensure completion of all credit requests within required corporate time target.
  • Identify and communicate potential implications from credit decisions to affected internal parties.
  • Accurately communicate in writing directly to borrower and borrowers representatives including, but not limited to, corporate and personal CPAs and attorneys.
  • Communicate directly to internal Performance Managers, Sales Executives, and senior level executives to resolve lending inquiries.
  • Ability to lead commercial loan package presentation to senior executives in rendering a credit decision.
  • Drive business improvements to identify new initiatives and enhance process efficiencies. Qualifications: Knowledge, Skills and Abilities:
    • Capacity to autonomously issue comprehensive credit decisions while ensuring alignment with organizational goals and established credit policies.
    • Working knowledge of GAAP accounting and financial concepts used in automotive and financial services industries.
    • Provide detailed analysis of Audited, Compiled, Reviewed, and Dealer Prepared business financial statements and explain key effects on the loan package.
    • Analyze and interpret personal and business tax returns including all schedules and ability to explain implications on the loan package.
    • Analyze SEC filings including but not limited to 10-Q and 10-K.
    • Analyze borrowers cash flow cycle and effects on debt requirements and repayment sources.
    • Ability to review bank statements as it relates to borrower and principal.
    • Analyze third party statements to deduce impact on loan package and borrowers capital.
    • Analyze and incorporate multiple data points from numerous sources and the effect of each on the loan package.
    • Comprehend and relate market industry data and effect on borrowers business model.
    • Critically evaluate and apprise borrowers business operations relative to peers and industry standards.
    • Forecast based on trend analysis.
    • Ascertain principal stakeholders personal value based on financial statements and external data points.
    • Understanding of varying personal and commercial credit tiers including prime and subprime.
    • Working knowledge of commercial lending industrys legal framework and implications thereof.
    • Familiarity with varying business structures including Sole Proprietorships, Partnerships, LLCs, S-Corps, and C-Corps.
    • Interpret complex business structures and the related financial implications on the loan package.
    • Ability to analyze buy here pay here, lease here pay here, and car rental business models.
    • Clear, concise, and effective communication across all levels of the organization and with external stakeholders.
    • Demonstrate initiative, challenge existing processes, and offer value enhancing improvements.
    • Ability to work independently and prioritize effectively.
    • Other characteristics aiding in daily job function include adaptability, resourcefulness, and decisiveness.
    • Proficiency with Microsoft Office Suite including Word, Excel, PowerPoint, and Outlook. Education and Experience:
      • Where permitted by applicable law, must be fully vaccinated against COVID-19 to be considered for this U.S. based job. (Reasonable accommodations for medical and religious objections will be considered.)
      • BA/BS degree in related field and 5 years of related experience; or an equivalent combination of education and work-related experience.
      • Undergraduate degree in Accounting Finance, or Business preferred
      • Working knowledge in various inventory finance software programs.
      • Minimum 5 years underwriting experience or relevant experience in the Automotive or Financial Services industry. Who We Are
        About Cox Automotive
        Theres nothing ordinary about Cox Automotive. We are people of every background driven by our passion for mobility, innovation, client success and community outreach. We make buying, selling and owning (or simply using) cars easier for everyone. Touching more than 40,000 clients across five continents, we bring together the best brands and the best teams to propel the automotive industry forward. Some of those team members work for our iconic consumer brands like Autotrader and Kelley Blue Book, while others are creating the future of automotive at industry-facing brands like, Manheim and vAuto.

        About Cox
        We are the Cox family of businesses..... click apply for full job details

Keywords: Cox Automotive, Carmel , Senior Commercial Lending Underwriter, Accounting, Auditing , Carmel, Indiana

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