Credit Underwriter (Non-Bank Financial Insititutions)
Wells Fargo Company is a diversified financial services company providing banking, insurance, investments, mortgage, and consumer and commercial finance. We’re headquartered in San Francisco, California, with offices from coast to coast in the U.S. and overseas — and strategic relationships with more than 3,000 banks around the world.
Our international division truly spans the globe, with a combined workforce of more than 3,000 dedicated team members and more than 30 overseas offices. Through our coast-to-coast U.S. presence, overseas offices in strategic Locations, and technology platforms, we provide our clients the direct and on-the-ground support they need to effectively manage all their global business in 130 countries.
In the UK Wells Fargo has over 600 Team Members, predominantly based in London, across 27 lines of business.
Our vision: “We want to satisfy all our customers’ financial needs and help them succeed financially.”
About the Department
This is a new position on the Global Financial Institutions (GFI) Complex Credit Underwriting Team to support Wells Fargo’s new International Non-Bank Financial Institution (NBFI) business initiative. The credit underwriter will be responsible for assisting with credit analysis and underwriting in a portfolio of international NBFI customers, including insurance companies, asset managers, pension funds and sovereign wealth funds. This position reports to the Loan Team Leader who supervises the credit underwriting process.
Responsibilities
The primary areas of responsibility for the role are as follows:
• Monitoring, documenting, underwriting and reacting to the credit quality for growing portfolio of NBFI customers, including insurance companies, asset managers, pension funds and sovereign wealth funds.
• This includes preparing the credits for the NBFI portfolio, such as the annual reviews, new business requests, ad hoc credit limit amendment requests and quarterly borrower quality rating certifications.
• Assist with monitoring of approved credit limits, exposure, and financial condition of assigned counterparts to ensure that risk ratings are accurate and timely.
• Assist relationship managers and other senior officers with structuring, pricing and documentation of transactions in conjunction with our product partner groups.
• Work with internal teams (e.g. Counterparty credit, Financial Institution Credit, Subscription Finance underwriting team) to integrate underwriting funded limits, operating limits (including FX) for the International NBFI segment. This may include the need to review scorecards relevant for Insurance companies (Life, Non-Life, Reinsurance), Fund managers and Pension Funds in Europe.
• Ensure that Wells Fargo’s systems of record accurately reflect approved credit terms and conditions including limits, tenors and risk ratings.
• Ensure conformity with GFI international, Wells Fargo and regulatory policies.
• Ensure ongoing improvement in credit analysis and monitoring processes.
• Demonstrated ability to prepare compelling credit documents based on limited publically available sources.
Requirements
The successful candidate will be able to demonstrate:
• Proven credit underwriting experience.
• Experience of underwriting for international NBFIs, particularly insurance companies, asset managers and pension funds.
• Good knowledge of the regulatory, legal and operating environment in Europe related to Insurance companies, Pension Funds and Asset Managers.
• Good knowledge of Solvency II.
• Knowledge of effective credit mitigation tools and documentation such as ISDAs and CSAs is a strong advantage.
• Demonstrated organizational skills with the ability to handle multiple tasks simultaneously and, continually work under tight deadlines.
• Demonstrated knowledge of international capital markets products and services.
• Strong understanding of regulatory environments, and also current economic and political events and issues affecting NBFIs.
• Demonstrated interpersonal skills and excellent communication stills.
• Proficiency in Microsoft Word and Excel.
• Completion of a formal credit training program.
Preferred Skills
• Bachelor's degree (or equivalent).
• MBA or equivalent.
Please apply using our career portal via the linke below, search for Req ID 2151BR.
https://sjobs.brassring.com/TGWebHost/home.aspx?partnerid=25486siteid=5553
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