500 Boylston St-MAS10
If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935 by Harold Webster Smith, our focus has always been to put people first--doing whatever we can to help individuals, families and businesses achieve their financial goals. And while we've grown into a leading commercial bank, we remain passionate about serving our customers, supporting our communities, and making a difference in people's lives. We can make a difference in your life, too. By empowering you to build the meaningful career you've been looking for.
Responsibility, respect, trust, teamwork and citizenship are the values on which Webster was founded. Together we call them The Webster Way, and they are what set us apart as a bank and an employer. Guided by these values, we put people first - working hard to live up to our customers, and each other, every day.
Webster Bank -- Commercial Bank -- Sponsor and Specialty Group -- Technology and Infrastructure ("T&I") Group
Founded in 1935, Webster has grown over the past 82 years to be one of the leading country's leading regional banks, with $26 billion in assets and a $5 billion market capitalization as of today.
The Sponsor and Specialty Group represents a distinct group within Webster and has been a significant contributor to the bank's strong growth over the past 5+ years. The Sponsor and Specialty Group provides cash flow based, senior secured financing solutions, typically to middle market companies backed by private equity Sponsors. The Sponsor and Specialty Group is divided into four specialty verticals: T&I, Healthcare, Restaurant & Franchises, and Environmental.
The T&I group focuses on the following industry sub-sectors: Software, Tech-Enabled Services, Data Centers, IT Infrastructure, Cable, and Media, among others. With a team of approximately 20 dedicated investment professionals, the T&I group prides itself on maintaining an atmosphere that encourages team work, self-empowerment, and work/life balance. As an Associate within the T&I group, you will be given the unique opportunity to work with many different professionals who have diverse backgrounds and varying industry expertise (a typical deal team includes an Analyst, Associate, Vice President, and Managing Director). Additionally, you will be given the opportunity to interact with the bank's senior credit officials, private equity Sponsors, company management, and other industry partners (e.g., law firms, accounting firms, industry experts, etc.). Overall, you will be an integral member of the deal team that is responsible for the complete deal process from loan origination through to post-closing portfolio management.
Associate, T&I Position Summary: Manage a portfolio of approximately 10-15 existing borrower accounts and help lead new deal underwriting process. Additionally, mentor junior deal team members (e.g., Interns or Analysts) where appropriate.
Major Duties & Responsibilities:
Portfolio Management for Existing Borrowers:
- Review and analyze monthly, quarterly, and annual financial statements in order to monitor the borrower's financial performance trends and liquidity
- Review quarterly compliance certificates to ensure they are being completed accurately by the borrower
- Communicate with the borrower's CFO (or similar position) to get more qualitative updates on performance
- Listen to annual or other interim lender update calls and ask questions, when appropriate
- Ensure appropriate borrower risk rating and process internal ratings upgrades/downgrades when appropriate
- Maintain borrower credit files
- Enter borrower's quarterly financial data and covenant compliance into Baker Hill
- Prepare internal quarterly, semi-annual and/or annual review memos
- Present internal portfolio review memos to senior credit executives at semi-annual review meetings
- Work with original underwriting deal team to prepare and execute all amendments/waivers for existing borrowers
- Associates will typically maintain a more complex portfolio of borrower accounts, including transactions where Webster is the Agent of a syndicated bank group
New Deal Underwritings:
- Support lead underwriter on deal diligence
- Review data room materials and all third party reports
- Build the projection model
- Help to prepare internal credit approval memos
- Manage loan closing process
Education, Experience & Skills
- Bachelor's Degree, preferably in Business, Finance, Accounting, Economics, or equivalent related work experience
- 2-4 years of work experience in an Accounting/Finance/Banking-related position
- Experience working on leverage loan transactions
- Strong analytical skills and proficiency with financial statements
- High level of attention to detail
- Ability to work well with others and on teams
- Ability to work in a fast-paced environment
- Superior written and verbal communication skills
- Proficient in Microsoft Office, including Word, Excel and PowerPoint
Other Desired/Beneficial Qualifications:
- T&I industry experience at an investment bank or other institution
- Graduate of a formalized credit training program
- Received or is in the process of achieving either the CFA or CPA professional certifications