Wealth Specialty Finance Underwriter

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Wealth & Investment Management (WIM) is one of the United States' leading providers of financial and investment services. We offer a full range of personalized wealth management, investment, planning, and retirement products and services to help meet clients' unique needs and to help them pursue their financial goals more confidently. We bring together subject matter expertise, products, and services, so it's easier for clients to do business with us and for advisors to support their clients.

Banking, Lending, & Trust (BL&T) unlocks access to Wells Fargo Bank products and services to high-net-worth and ultra-high-net-worth individuals and families based on needs related to banking, custom lending, and trust services. These bank specialists leverage resources, valuable research, relationships, custom solutions, and highly tuned strategies to address clients' unique needs and aspirations.

Provides support to WIM in providing services to affluent, high net worth and ultra-high net worth individuals, families, family offices and charities. BL&T further provides legal guidance on a variety of banking and fiduciary topics including investment management, general trust administration, specialty trusts, custody, tax, specialty assets, regulatory, privacy, ecommerce, deposit relationship and strategy, and business strategies. The section also provides support to the WIM Diverse Segments group, including WIM referral activity

About this role:

Wells Fargo is seeking a Lead Wealth Underwriter to join its Wealth & Investment Management Specialty Finance Group ("SFG"). SFG is a national team within WIM that provides specialized expertise in structuring, underwriting and managing large and highly complex commercial-type credits for Ultra High Net Worth individuals and families...Working at Wells Fargo | Jobs and Careers at Wells Fargo (wellsfargojobs.com)

One of SFG’s primary offerings is Life Insurance Premium Finance (LIPF), with a current portfolio of ~$2B. The Underwriter will primarily be responsible for underwriting and executing new LIPF transactions, as well as monitoring a portfolio of LIPF credits. The underwriter will also have an opportunity for exposure to SFG's other offerings including liquid secured, fine art, aircraft, unsecured and other unique collateral types.

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In this role, you will:

• Spearhead financial analysis and due diligence around UHNW sponsors; distill complex credit situations into key risks/mitigants and clear and concise underwriting memos for consumption by senior leaders and credit-risk decision makers;
• Develop subject matter expertise in the LIPF space to ensure seamless presentation and analysis of key sponsor and collateral considerations.
• Lead loan structuring and as well as negotiations of legal documentation of loan transactions with outside counsel;
• Ensure compliance with company/regulatory policies and procedures;
• Manage a loan portfolio to ensure loan performance and compliance with key financial reporting and covenant requirements, premium funding/draw schedules, maintenance of risk rating accuracy, and escalation of any developing issues.
• Manage on-going relationships with internal business partners including Custom Credit Bankers, Relationship Managers and leaders across product and relationship teams as well as borrowing clients and their family office personnel
• Lead complex initiatives including those that are cross-functional with broad impact and act as a key participant in large-scale planning for Wealth Underwriting
• Review, analyze, and evaluate complex challenges related to multi-faceted, larger scale high-net-worth loans structures, existing portfolio issues, and complex business, operational, or technical challenges that require an in-depth evaluation of multiple factors including intangible or unprecedented factors, present recommendations for resolution
• Make decisions on complex and multi-faceted credit risk management issues to ensure satisfactory credit portfolio risk examinations requiring solid understanding of Wealth Underwriting functional area policies, procedures, regulations, and compliance requirements that influence and lead the Wealth Underwriting team to meet deliverables and drive new initiatives
• Strategically collaborate and consult with Wealth Underwriting peers, colleagues, and mid-level to senior level managers to resolve issues and achieve goals; serve as a peer mentor
• Partner with Custom Credit Banker and Financial Advisor to provide guidance on due diligence, credit, and loan document negotiations with clients

Required Qualifications:

• 5+ years of Wealth Underwriting experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education

Desired Qualifications:

• Thorough knowledge of financial accounting theory and logic, financial statement analysis, loan structuring and commercial banking products and services.
• Good credit skills including an ability to structure, negotiate, and document a broad range of loan types, structures and complex requests.
• Strong interpersonal, communication, writing and partnering skills.
• Ability to make sound, independent business and credit decisions.
• A background in wealth or commercial lending/underwriting is preferred. Familiarity with esoteric collateral asset classes including, but not limited to illiquid/concentrated stock, aircraft, unsecured, life insurance, alternative assets, art, etc. is a plus - especially LIPF experience.
• Experience in capital markets, commercial/corporate/investment banking, commercial real estate lending or similar is desired.

Job Expectations:

• Specific compliance policies may apply regarding outside activities and/or personal investing; affected employees will be expected to provide information to the Wells Fargo Personal Account Dealing Team and abide by applicable policy requirements if hired. Information will be shared about expectations during the recruitment process.