What are the responsibilities and job description for the Vice President - Underwriter - Factoring position at First Business Bank?
Join us today as the Vice President – Underwriter - Factoring!
First Business Bank is a Top Workplaces USA company, learn more here.
At the heart of First Business Bank, we believe success comes down to putting people first. Our people are our priority — they embody ambition, experience, and client focus. The result is extremely engaged employees who provide unmatched client satisfaction. With comprehensive total rewards to support our team members, a commitment to valuing each other’s differences, and a focus on improving our communities, we are confident you’ll find the experience is your advantage. We’re delighted you’re considering joining us!
Location: Remote.
Overview:
In this position, you will play a key role in evaluating prospective clients, assessing collateral and debtor credit quality, structuring transactions, and supporting sound credit decisions. You will also serve as a trusted partner to business development and leadership while helping improve underwriting processes and overall department efficiency.
Essential responsibilities of this role include:
- Partner with Business Development Officers to screen prospective clients and assist in structuring transactions using available financial information, pricing models, and credit insights
- Conduct comprehensive due diligence through third-party resources, including D&B, UCC searches, payroll tax compliance tools, personal credit reports, and other relevant platforms
- Evaluate the quality of accounts receivable proposed for purchase, including review of underlying contract language, dilution and offset risk, historical receivables performance, and other collateral considerations
- Assess the credit quality of account debtors using third-party credit reports, financial statements, trade references, and additional underwriting information
- Compile, analyze, and present underwriting packages in approved format for review by First Business Credit authorities
- Coordinate and assist in the preparation of factoring and related transaction documents
- Provide recommendations to management on opportunities to enhance underwriting quality, efficiency, and process consistency
- Support the broader success of the Accounts Receivable Finance department and First Business Bank through collaboration, leadership, and other related responsibilities as needed
Qualifications
- 10 years of experience in Factoring underwriting
- Strong ability to analyze financial information, identify risk, and make sound recommendations
- Experience reviewing financial statements, credit reports, collateral quality, or operational risk factors
- High attention to detail and the ability to manage multiple transactions and priorities
- Strong written and verbal communication skills, including the ability to clearly present findings and recommendations
- A proactive, team-oriented mindset and interest in improving processes