Underwriter

Job Title:                       Underwriter                                              

Level:                             Associate

Reports To:                    Director of Analytics & Data Science

Department:                 Credit

Location:                       Remote

About the Company:

BasePoint Group Inc. (the “Company” or “BasePoint”) is a leading provider of secured asset-based wholesale financing facilities to US based specialty finance companies and a buyer of short-term commercial receivables. Founded in 2009, BasePoint Capital is a Specialty Finance Company that provides companies with asset-based financing facilities. In addition, BasePoint also engages in whole loan acquisitions and special opportunities. BasePoint Capital’s team of professionals has extensive expertise in asset-based lending, whole loan sales, servicing, and securitization transactions. The team possesses a common risk management approach given its institutional backgrounds from Morgan Stanley, UBS, JP Morgan, Nomura and GE. In 2021, BasePoint Group combined with Advantage Insurance Inc., an insurance company headquartered in Puerto Rico, that specializes in providing customized insurance services to high-net-worth individuals and business owners to serve their risk management and financial planning needs. BasePoint Services Puerto Rico provides support to BasePoint Capital lending operations, credit, data analytics, and finance teams. BasePoint Advisors LLC is a registered investment advisor formed in November 2021.

Job Overview:

The Underwriter will be responsible for the evaluation, underwriting, and risk assessment of Merchant Cash Advance (MCA) transactions. This role involves analyzing financial information, cash flows, and other critical business criteria to assess the creditworthiness of small and medium-sized businesses seeking funding in accordance with the Company’s underwriting policies. The Underwriter will work closely with the Credit team and originator partners to ensure that all transactions align with the company’s risk tolerance and underwriting standards. The ideal candidate will have a strong background in credit analysis, with specific experience in merchant cash advances or other alternative lending products.

Job Requirements:

• Review and assess the financial health and creditworthiness of businesses applying for merchant cash advances, including the analysis of cash flow, revenue trends, and payment history, in accordance with the Company’s underwriting policies.
• Conduct thorough due diligence on applicants, including reviewing bank statements, tax returns, credit reports, and other relevant financial documentation.
• Utilize financial modeling and data analytics to evaluate the risk profile of each transaction, considering factors such as industry risks, business history, and current financial position.
• Determine appropriate funding limits and terms based on creditworthiness, business needs, and risk appetite.
• Collaborate with the business team to structure deals that meet client needs while adhering to the company’s risk management policies.
• Maintain strong documentation and reporting on each deal, ensuring all credit decisions are well-supported and comply with company standards.
• Monitor and assess the performance of funded transactions, identifying early signs of delinquency or risk, and recommending adjustments as needed.
• Stay informed of market trends and changes in the MCA industry to ensure that the company’s underwriting practices remain competitive and effective.

Required Experience & Skills:

• 2-4 years of experience in underwriting, credit analysis, or risk management, preferably within merchant cash advances or other small business alternative financing products.
• Strong understanding of financial statement analysis, including cash flow analysis, revenue trends, and key financial ratios.
• Demonstrated experience in credit underwriting and risk assessment, with a proven ability to evaluate the creditworthiness of small and medium-sized businesses.
• Familiarity with Merchant Cash Advances (MCA) and other non-traditional lending instruments.
• Excellent analytical and problem-solving skills, with the ability to make data-driven credit decisions.
• Strong attention to detail and organizational skills, with the ability to manage multiple transactions simultaneously.
• Excellent communication skills, with the ability to effectively collaborate with internal teams and present credit recommendations clearly and concisely.
• Proficiency in Microsoft Excel and experience with underwriting platforms or credit analysis software.

Qualifications:

• Bachelor’s degree in Finance, Accounting, Business, Economics, or a related field.
• Strong understanding of credit risk, financial statements, and underwriting principles.
• Knowledge of the MCA industry and its specific risks and challenges.
• CFA, CPA, or progress toward a relevant certification is a plus but not required.
• Ability to work independently while also being an effective team player.

Compensation:

The base salary for this role ranges between $120,000 and $130,000. This role is also eligible for a performance bonus, long-term incentive equity plan, and a competitive benefits package. Actual compensation for the successful candidate will be determined based on a variety of factors such as skills, qualifications, and experience.