10380 senior underwriter
Posted on: 6 Dec 2021
Downers Grove, IL
Job Description
The Opportunity
The Underwriter - Commercial will be responsible for the completion of required due diligence/financial analysis for the renewal of automotive dealership inventory credit lines, as well as new extensions of credit for inventory and other commercial loans (real estate, working capital, line of credit). Due diligence includes the accurate reporting of findings through established reporting functions and ensuring corporate compliance and risk management. The position will require the ability to perform in-depth analysis, interact with key dealership personnel, and maintain a high level of communication with internal and external stakeholders. Additionally, the Underwriter - Commercial will provide recommendations along with supporting documentation to improve company performance and mitigate exposure. It is also encouraged that this position will support department training initiatives.
The Work Itself
Conduct financial analysis on automotive dealership financial statements and supporting documentation, including data acquired from both internal and external sources
Produce formalized proposals for management summarizing the analysis and including recommendations for credit extension
Complete administrative reviews of UCC filings, insurance, licensing and other related items to detail company compliance and ensure that guidelines are met
Interface and connect with automotive dealership personnel and stakeholders to acquire all information required
Update company records, logs, reports, and internal control systems with information gained during the underwriting review process
Ensure compliance with company policies, procedures and external regulations
The Skills You Bring
Undergraduate degree or equivalent training, Graduate degree preferred, but not required
Minimum one year of automotive commercial underwriting preferred
Understanding of dealership and wholesale administration a plus
Strong financial analysis and analytic/problem solving skills required
Proficient in intermediate MS applications (Word, Excel, Access, PowerPoint and Outlook)
High level of written and oral communication skills as well as attention to detail
Strong organizational and time management skills including being able to adapt to change quickly
Ability to easily prioritize as necessary and appropriate
Ally Financial
Detroit, MI
Ally Financial Inc. provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments. The Automotive Finance Operations segment offers automotive financing services, including providing retail installment sales contracts, loans and operating leases, term loans to dealers, financing dealer floorplans, other lines of credit to dealers, warehouse lines to automotive retailers, and fleet financing. It also offers financing services to companies and municipalities for the purchase or lease of vehicles, and vehicle-remarketing services. The Insurance Operations segment provides consumer finance protection and insurance products through the automotive dealer channel, and commercial insurance products directly to dealers.
The Mortgage Finance Operations segment manages held-for-investment consumer mortgage finance loan portfolio that includes bulk purchases of jumbo and low-to-moderate income mortgage loans originated by third parties, as well as direct-to-consumer mortgage offerings.
The Corporate Finance Operations segment offers senior secured leveraged cash flow and asset-based loans to middle market companies. It primarily focuses on businesses owned by private equity sponsors with loans used for leveraged buyouts, mergers and acquisitions, debt refinancing, restructurings, and working capital.
The company, through its subsidiary, Ally Bank, also provides commercial banking products and services. In addition, it offers digital securities brokerage and investment advisory services. The company was formerly known as GMAC Inc. and changed its name to Ally Financial Inc. in May 2010. Ally Financial Inc. was founded in 1919 and is headquartered in Detroit, Michigan.
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IndustryBanking/Financial Services
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No. of Employees8, 200
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Website
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Jobs Posted2961
