Associate, Fund Banking
Date ActiveJan 24, 2022 1:11:47 PM
Hours Per Week40
Location500 Boylston St-MAS10
Job Description/ Requirements
Since 1935, Webster Bank has been helping individuals, families and businesses meet their financial goals. As a leading regional bank, Webster’s strong foundation is built on our core values of responsibility, respect, teamwork, trust and commitment to our communities. Webster bankers remain our most valuable asset, and we pride ourselves on our diverse, equitable and inclusive work environment. Come join our team!
Support the underwriting and portfolio management of fund-level financings to private equity and commercial real estate funds. Help lead new deal underwriting processes, including mentoring junior deal team members (e.g., Interns or Analysts) where appropriate.
New Deal Underwritings:
- Support lead underwriter on deal diligence
- Develop due diligence request lists
- Review data room materials
- Help to prepare internal credit approval memos and present deals to credit committee
- Manage loan closing process
Portfolio Management for Existing Borrowers:
- Review and verify requests for borrowing, ensuring accuracy of request certificates and compliance with all applicable covenants.
- Review quarterly compliance certificates to ensure they are being completed accurately by the borrower.
- Review and analyze borrowers’ regularly submitted financial statements to monitor performance.
- Ensure appropriate borrower risk rating and process internal ratings upgrades/downgrades when appropriate.
- Maintain borrower credit files and financial data / covenant compliance in Sageworks.
- Prepare internal quarterly, semi-annual and/or annual review memos.
- Present internal portfolio review memos to senior credit executives at annual review meetings.
- Work with original underwriting deal team to prepare and execute all amendments, waivers, and requests for extensions for existing borrowers.
- Associates will typically maintain a more complex portfolio of borrower accounts, including transactions where Webster is the Agent in a bilateral or syndicated facility.
Bachelor's Degree required (preferably in Business, Finance, Accounting, Economics)
1-3 years of work experience in a credit underwriting and/or portfolio management position. Direct experience with fund-level financings is a plus.
Job Skills / Knowledge:
- Strong analytical skills and proficiency with financial statements
- High level of attention to detail
- Strong written and verbal communication skills
- Ability to work well with others and on teams
- Ability to work in a fast-paced environment
- Proficient in Microsoft Office, including Word, Excel, and PowerPoint
Other Desired/Beneficial Qualifications:
- Experience working on fund-level financings (subscription lines, NAV loans, etc.)
- Graduate of a formalized credit training program
- Received or is in the process of achieving either the CFA or CPA professional certifications