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Associate I, Private Bank & Wealth Advisory

Company: SVB Financial Group
Location: Newton
Posted on: June 9, 2021

Job Description:

The Associate I, Underwriting will play a critical role in the success of PBWA. The ideal candidate will take ownership of the mortgage and/or tailored underwriting credit process including analyzing personal financial statements/tax returns with a high acumen for detail to identify applicant's loan repayment ability. Individual will complete assigned tasks while striving to go beyond their basic job responsibilities for benefit of the PBWA organization.

  • Uses fundamental standards and practices of SVB's lending products, practices, and tools while providing credit underwriting support to the Mortgage and/or Credit Solutions Team(s).
  • Underwrite credit proposals and analyze personal financial statements, tax returns, and credit reports with a high appreciation for attention to detail. Develop knowledge that will allow effective basic underwriting skills for high net worth individuals who are synergistic to our business model.
  • Identify usual risks and mitigate common factors which could impact the Applicant's loan repayment ability. Utilize key loan underwriting tools and techniques to access Applicants' eligibility.
  • Understand the necessity and value of accuracy and regulatory compliance. Accurately gauge the impact and cost of errors, omissions, and oversights. Utilize specific approaches and tools for checking and cross-checking outputs. Learn from mistakes and apply lessons learned.
  • Identify usual risks and mitigate common factors which could impact the Applicant's loan repayment ability. Utilize key loan underwriting tools and techniques to access Applicants' eligibility.
  • Understand the necessity and value of accuracy and regulatory compliance. Accurately gauge the impact and cost of errors, omissions, and oversights. Utilize specific approaches and tools for checking and cross-checking outputs. Learn from mistakes and apply lessons learned.
  • Take personal ownership of assignments and activities, pro-actively communicating decisions and results to internal partners. Deliver quality work and solutions within accepted service level agreements/deadlines.
  • Value the importance of teamwork with the ability to work cooperatively towards shared goals. Actively participate in team meetings by sharing information, knowledge, and experiences openly. Demonstrate open, friendly, accepting, and supportive behaviors with peers and colleagues.

Decisions:

  • Decisions influence work results or productivity with immediate impact.
  • Works within established practices. Precedents guide decisions or formulation of alternatives, but not all situations fit within the guidelines of standard practice.
  • Ability to recognize when to escalate issues to mortgage and/or credit solutions team management.
  • Works with limited supervision. Follows established procedures.

Recommendations:

  • Recommend exceptions for approval by mortgage team management (e.g. missing closing steps such as ACH, HOI) to keep closings on schedule and minimize operational and/or credit risk.

Knowledge:

  • Understands the contributions from related areas of the business (RM, RA, Operations, etc.) in order to effectively navigate between internal teams to ensure all steps are taken on each transaction as required.
  • Understand how a rate lock works, be able to register a loan in the Loan Origination System, and be willing to perform some process functions, if needed, such as accessing credit report, ordering appraisals, etc.
  • Shares information with others inside and outside of the work group. Contacts others to gather, confirm, and clarify information.
  • Awareness of related PBWA teams and the business context in which the work is performed.

Skills

  • Highly organized, with ability to pay attention to the details, needs to be able to multi-task, and should have strong written and verbal communication skills.
  • Ability to meet or exceed customer needs and expectations and provide excellent service in a direct or indirect manner.
  • Demonstrates commitment to delivering on all promises as a credible, trusted organizational representative.
  • Ability to effectively transmit, receive, and accurately interpret ideas, information, and needs through the application of Appropriate communication behaviors.
  • Ability to manage multiple concurrent objectives, projects, groups, or activities, making effective judgments as to prioritizing and time allocation.

Competencies

  • Knowledge of Loan Underwriting
  • Lending Processes and Standards
  • Consumer Loans
  • Credit Analysis and Verification
  • Loan Origination
  • Regulatory Environment - Financial Services
  • Customer/Market Focus
  • Effective Communications
  • Managing Multiple Priorities
  • Initiative
  • Accuracy and Attention to Detail
  • Decision Making and Critical Thinking

Education and Experience

  • 1-3 years relevant work experience in related finance or banking fields
  • Bachelor's degree and/or equivalent experience

Keywords: SVB Financial Group, Newton , Associate I, Private Bank & Wealth Advisory, Other , Newton, Massachusetts

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