If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.  

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

The Public Sector Finance Manager, Underwriting is responsible for evaluating complex, privately placed public sector financing requests including, traditional general obligation debt, enterprise revenue debt, tax-supported debt, lease revenue debt, equipment leasing, as well as, spreading financial statements, processing annual reviews, portfolio monitoring, front-end evaluation, risk rating, with aggressive turnaround parameters and goals, all in accordance with bank polices/regulatory requirements. The underwriter must be able to evaluate complex transaction structures, with an understanding of the various state and federal legal parameters. Additional scope of responsibilities includes performing due diligence and gathering information as necessary to make sound lending decisions. The underwriter will also perform other duties as necessary to support the goals and objectives of the Public Sector Team, along with the overall Commercial Lending area. An understanding of the Bank’s Credit Policy and outside regulatory requirements is also required.

JOB RESPONSIBILITIES

Core Job Responsibilities/Key Activities/Elements:

• Evaluate prospective and or existing complex financing requests by: Spreading and analyzing current overall credit profile, utilize multiple source systems, evaluation of a wide range of economic indicators, financial statements and various other tools. Have a complete understanding of cash flow reports, financial ratios, trends, etc. Also spread financial statements and cash flow analysis. The underwriter must be able to identify recurring and non-recurring sources of cash flow, the entity’s ability to cover debt service, collateral adequacy, appropriate nature of financial covenants and financial reporting ticklers to support the proposed credit exposure. Preparing Risk Rating calculations and underwriting document
• Working with the business development officer in reviewing credit proposals for new loans as well as for renewals, modifications, and short-term extensions. Continual portfolio monitoring, payment delinquency mitigation and annual reviews. This includes financial and risk analysis, purpose of loan, repayment sources, collateral, financial & reporting covenants, ticklers, industry analysis, current event research and material event analysis.
• Work with internal bank department to process due diligence requests, run UCC search and liens and litigation research. Investigate specific industries/companies and due diligence on existing or prospective borrowers.
• Review documentation such as bonds, leases, deed of trust, installment financing agreements, among others, for consistency and accuracy with credit narratives. This requires working with the bank council, borrower, business development officers and portfolio managers
• Performs other duties and responsibilities as required or assigned by supervisor
• Ensure compliance with all regulations, policies, and procedures

EXPERIENCE

• 4-7 years of direct public sector underwriting experience with an expertise in executing complex municipal financing requests
• Candidates with advanced degrees (Bachelor’s, and/or Master’s) preferred. Candidates with some combination of coursework and experience, or else extensive related professional experience, are eligible for consideration
• Strong knowledge of underwriting concepts, practices, and procedures. Must be detail oriented and organized, with solid financial analytical skills
• Proficient with all financial statements (Fund Accounting, Balance Sheet, Income Statement and Cash Flow Statement)
• Significant municipal risk rating expertise.
• Proficiency in legal terminology and documentation to ensure approved terms are correctly interpreted and captured for monitoring.
• Demonstrable track record of working under pressure and managing multiple projects with limited supervision
• Excellent oral and written communication skills as well as analytical, mathematical, and reasoning skills.
• Demonstrated ability to develop and maintain positive working relationships with contacts across lines of business / clients.
• Technical aptitude with Word, Excel, Outlook and other IT system as necessary

The estimated base salary range for this position is $95,000 USD to $115,000 USD.  Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

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Webster Financial Corporation and its subsidiaries (“Webster”) are equal opportunity employers that are committed to sustaining an inclusive environment. All qualified applicants will receive consideration for employment without regard to race, color, religion, age, marital status, national origin, ancestry, citizenship, sex, sexual orientation, gender identity and/or expression, physical or mental disability, protected veteran status, or any other characteristic protected by law.