VP, Sponsor & Specialty Finance
If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.
Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!
Vice President, Sponsor and Specialty Finance
Technology & Infrastructure ("T&I") Group
Boston, MA (Copley Square)
Full-time, in-person (with some flexibility)
Founded in 1935, Webster has grown over the past 85+ years to be one of the country’s leading regional banks, with ~$73 billion in assets as of today.
The Sponsor and Specialty Group (~$8 billion) represents a distinct group within Webster’s Commercial Bank 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 and ARR-based, senior secured financing solutions, typically to middle market companies backed by private equity sponsors. The Sponsor and Specialty Group is divided into a number of specialty verticals including Technology & Infrastructure; Healthcare Services; Business & Info Services; Aerospace, Defense, & Environmental ("AD&E"); and Generalist Sponsor coverage. The T&I group focuses on the Software, Tech-Enabled Services, Data Center, IT Infrastructure, and Cable end-markets, among others.
A specialized team of ~20 dedicated investment professionals, the T&I group prides itself on maintaining an atmosphere that encourages teamwork, self-empowerment, and work/life balance. As a Vice President within the T&I group, you will be a critical member of the overall team, with primarily responsibilities including (i) leading the new deal underwriting, approval and loan closing processes for new borrowers; (ii) helping to manage a portfolio of 10-15 existing borrower accounts; and (iii) mentoring junior level team members (Analysts and Associates) on best practices in both underwriting and portfolio management. This role will allow you to interact with the bank’s senior credit officers, capital markets group, private equity sponsors, company management, and other industry partners (e.g., law firms, accounting firms, industry experts, etc.). Additionally, there are periodic travel opportunities to meet with borrowers, sponsors, and for other industry related events (total travel of approximately 4-6x per year).
Major Duties & Responsibilities
New Deal Underwritings:
- Screen new deal opportunities and provide quick feedback to senior members of the T&I team
- Lead all aspects of the new deal underwriting and diligence process, including:
- Identifying all key risks
- Reviewing data room materials and third-party reports
- Leading diligence calls with sponsors, management, and other third-party firms (e.g., GLG)
- Conducting other independent research
- Mentor and oversee junior deal team members (Analysts & Associates) and their work, including the financial projection model
- Manage internal approval process including ensuring (i) timely completion of internal investment committee approval write-ups and (ii) adherence to Webster’s internal underwriting policies and procedures
- Lead investment committee approval meetings and answer all diligence related questions
- Review and negotiate closing legal documents with the borrower and/or sponsor
- Manage internal loan closing process (including KYC) to ensure a smooth and timely closing for all counterparties
Portfolio Management for ~10-15 Existing Borrowers:
- Act as a key touchpoint for management and/or sponsor, including having quarterly update calls with CFOs to get more qualitative updates on borrower performance
- Mentor junior team members (Analysts & Associates) on best practices for sound portfolio management. Ultimately, VPs are responsible for overseeing and ensuring:
- Appropriate borrower risk ratings each quarter
- Timely receipt of borrowers’ financials and accuracy of borrowers’ financial compliance certificates
- Accurate entry of borrower financials and credit KPIs into the bank’s internal portfolio management software platform
- Completion of quarterly, semi-annual and/or annual reviews
- Proper maintenance of borrower credit files
- Adherence to Webster's internal portfolio management policies and procedures
- Provide a higher level of involvement/management on problem credits
- Lead all upsizes/amendments/waivers for existing borrowers
- A BS/BA, preferably in Business, Finance, Accounting, Economics, or a related business field
- 7-10 years of work experience in an Accounting/Finance/Banking-related position (or a Master’s degree and 1-3 years)
- Experience working in sponsor finance or on leveraged loan transactions
- The ability to answer unstructured business questions and work independently to drive tasks to completion
- Strong analytical skills and proficiency with financial statements
- Strong organizational skills
- Ability to work well with others and on teams
- Ability to work in a fast-paced environment
- Superior written and verbal communication skills
- Financial modeling experience
- Proficiency in Microsoft Office, including Word, Excel and PowerPoint
- Ability to travel
- Tech or infrastructure industry experience at an investment bank or other institution
- Graduate of a formalized credit training program
- CFA or CPA professional certifications
The estimated salary range for this position is $150,000 USD to $180,000 USD. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.