10+ years of commercial credit experience in banking or lending institutions
Formal credit training from a bank program or industry education
7+ years of leadership experience in team management
Proven ability to excel in a fast-paced, growing environment
Strong ethics and integrity in decision-making
Excellent verbal and written communication skills
Bachelor's degree in finance or accounting, Master's preferred
Experience with loan operating systems like Abrigo is a plus
Responsibilities
Lead the credit underwriting function for timely and accurate loan analysis
Monitor loan maturities and coordinate with management for renewals
Identify and apply loan policies appropriately
Manage a team of 7, focusing on staffing and performance
Establish internal controls to mitigate credit risk
Serve as a resource for structuring deals and approving policy exceptions
Provide leadership on policies and participate in audits and exams
Benefits
Leadership role within a well-established bank
Opportunity to influence underwriting standards and credit culture
Engagement with senior management and board members
Collaboration with multi-department teams for portfolio growth
Potential for impacting technology adoption in credit decision processes
Full Job Description
Summary of Position:
The Director of Credit Underwriting position is a senior leadership position in Bankwell and will plan, direct, coordinate, and oversee daily operations, workflow, and other activities of the Credit Underwriting department, and ensure that there is a consistent application of the Bank's Loan Policy.
Responsibilities include:
Lead the overall credit underwriting function to ensure timely and accurate analysis of loan opportunities.
Responsible for monitoring loan maturities and coordinating with Private Client Group (PCG) management to ensure timely renewal analysis and minimize the number of administrative extensions
Responsible for appropriate identification and application of policies.
Leads a team of 7 and is accountable for team management including but not limited to all staffing, training, and performance management of Credit Underwriting team.
Establishes, implements, and monitors internal controls to minimize credit risk in collaboration with Director of Credit Risk Management, PCG and Small Business Administration (SBA) team management.
Serves as a resource for structuring deals, identifying and approving Loan Policy exceptions prior to term sheet issuance and during underwriting, ensuring concentration limit compliance and regulatory compliance
Provides leadership and guidance on policies and procedures. Recommends changes/updates as appropriate.
Participates in audit, regulatory examination and loan review preparation as necessary
Attends Directors Loan Committee regularly and interfaces with members as required.
Collects documentation and prepares Directors Loan Committee packages and disseminates to members and invitees.
Provides Board materials to Executive Administrator for inclusion in Board packages
Ad hoc projects as needed.
Requirements
Qualifications & Skills:
Minimum 10+ years' experience in commercial credit at a commercial bank, credit union, or other lending institution
Must be formally credit trained either through participation in another bank's training program or industry or higher education training program
Minimum of 7 years of direct team leadership experience.
Ability to function effectively, efficiently, and independently in a fast-paced and rapidly expanding environment
Strong sense of integrity and personal ethics
Strong verbal and written communication skills
Adheres to all applicable Policies and Procedures
Bachelor's degree required with a focus in either finance or accounting preferred, related Master's degree program in finance or accounting or commensurate experience
Experience as a lender is a plus
Familiarity with Loan Operating System or Credit Underwriting Software such as Abrigo preferred
Objectives:
Establish underwriting standards - develop, implement, and refine underwriting guidelines and credit procedures for complex commercial loan products
Exercise authority - independently approve, decline or recommend credit actions up to specified limits
Optimize workflow - manage and streamline the loan underwriting pipeline to ensure efficiency and meet turnaround time (SLA) requirements
Influence credit culture - model and reinforce the Bank's credit culture and risk management approaches throughout the organization
Partner with the Private Client Group Managers and sales teams to achieve portfolio growth goals while ensuring prudent underwriting
Deal structuring - provide expertise in loan structuring, covenant negotiation and financial modeling for complex transactions
Regulatory Adherence - ensure all credit actions adhere to internal policies, procedures and regulatory requirements (exams, audit, loan review)
Technology Advancement - drive adoption of AI, credit decision engines and analytics tools to enhance efficiency and risk accuracy
KPIs
Efficiency - average loan turnaround time
Policy compliance - number of audit findings or policy exceptions
FLSA Status: Exempt
Competitive compensation and benefits, including:
Medical, dental, and vision coverage
Employer-paid life and disability insurance
HSA option
Employee Assistance Program (EAP)
Telehealth and wellness resources
Supplemental insurance options
Pet insurance and legal plan benefits
Benefits become effective on the first day of the month following date of hire
This job description is a general description of essential job functions. It is not intended as an employment contract, nor is it intended to describe all duties someone in this position may perform. All employees are expected to perform tasks assigned by supervisory personnel, regardless of job titles or routine job duties.
Salary Description
$190,000.00 - $220,00.00 annually
About Bankwell Financial Group, Inc.
Bankwell Financial Group, Inc. operates as the bank holding company for Bankwell Bank that provides a range of banking services to commercial and consumer customers in Connecticut. The company offers checking, savings, and money market accounts; and demand and NOW deposits, as well as certificates of deposit. It also provides commercial lending products, including owner-occupied commercial real estate loans, commercial real estate investment loans, business term loans, equipment financing, and lines of credit to small and medium-sized businesses, as well as real estate construction and development loans. In addition, the company offers residential real estate loans, including conforming and non-conforming mortgage loans, home equity lines of credit, and residential construction and land loans; and consumer loans, such as loans secured by savings or certificate accounts, and unsecured personal loans. Bankwell Financial Group, Inc. was founded in 2002 and is headquartered in New Canaan, Connecticut.
