What are the responsibilities and job description for the Lead Equipment Finance Underwriter position at Wells Fargo?
About this role:
Wells Fargo is seeking a Lead Equipment Finance Underwriter,
The WFEF Commercial Vehicle Group (CVG) Program Credit Underwriter is responsible for the underwriting and management of titled vehicle vendor, leasing or finance, and third party origination programs where there is high reliance on the program counterparty.
Specific responsibilities include investigation and financial analysis of program counterparties and their ability to fulfill their respective responsibilities within titled vehicle finance programs. Also responsible for understanding financial statements, program structures (recourse, servicing, etc.), vendor reporting capabilities, legal aspects of program documentation, equipment and insurance related risks, tax and accounting issues, general operational issues and procedures associated with programs, as well as understanding the credit characteristics of end users and contract structures. This position supports the CVG program approval process and rollout of programs to specific functional departments and coordinates such activities with senior Sales and Credit Management.
Responsibilities include the preparation of a comprehensive write-up covering all aspects of program risk that may include risk elements related to documentation, third party servicing, end obligor credit profile, equipment collateral and operational capabilities. This is performed in coordination with multiple WFEF departments including Sales, Legal, Program Servicing, Program Audit, Contract Administration, Accounting and Equipment Management.
In this role, you will:
- Lead complex initiatives for researching financial and credit information for larger and more complex commercial or business loan and lease requests
- Assist in structuring and approval of loan or leases within delegated authority and recommend transactions in excess of credit authority
- Review and research financial and credit information for larger and complex loans and lease requests that require in-depth evaluation
- Make decisions in complex and multifaceted situations requiring exceptional understanding of the Equipment Finance Underwriting functional area, policies, procedures, and compliance requirements
- Collaborate and consult with peers, colleagues, and managers to achieve business objectives
- Mentor or review analysis of less experienced individuals
- Lead projects and approve transactions in excess of their credit authority
Required Qualifications, US:
- 5 years of Equipment Finance Underwriting experience, or equivalent demonstrated through one or a combination of the following: work experience, training, military experience, education
Desired Qualifications:
- Working knowledge of equipment finance documentation and perfection.
- Strong knowledge of equipment finance UCC, Title, and Insurance requirements.
- Demonstrated ability to review and interpret legal agreements at the contract and program level
- Self-starter with the ability to identify risks and initiate resolution of problems with limited supervision.
- Ability to interact and collaborate with both internal and external customers.
- Strong analytical skills with high attention to detail and accuracy.
- Excellent verbal, written and interpersonal communication skills.
- Proficiency in Microsoft Excel and Word
Job Expectations:
10%-15% Travel
This position is not eligible for Visa sponsorship
This position offers a hybrid work schedule
Willingness to work on-site at stated location on the job opening.
Specific compliance policies may apply regarding outside activities 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
Pay Range
Reflected is the base pay range offered for this position. Pay may vary depending on factors including but not limited to achievements, skills, experience, or work location. The range listed is just one component of the compensation package offered to candidates.
$96,600.00 - $206,100.00Benefits
Wells Fargo provides eligible employees with a comprehensive set of benefits, many of which are listed below. Visit Benefits - Wells Fargo Jobs for an overview of the following benefit plans and programs offered to employees.
- Health benefits
- 401(k) Plan
- Paid time off
- Disability benefits
- Life insurance, critical illness insurance, and accident insurance
- Parental leave
- Critical caregiving leave
- Discounts and savings
- Commuter benefits
- Tuition reimbursement
- Scholarships for dependent children
- Adoption reimbursement
Posting End Date:
24 Apr 2025*Job posting may come down early due to volume of applicants.
We Value Diversity
At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other legally protected characteristic.
Applicants with Disabilities
To request a medical accommodation during the application or interview process, visit Disability Inclusion at Wells Fargo.
Drug and Alcohol Policy
Wells Fargo maintains a drug free workplace. Please see our Drug and Alcohol Policy to learn more.
Wells Fargo Recruitment and Hiring Requirements:
a. Third-Party recordings are prohibited unless authorized by Wells Fargo.
b. Wells Fargo requires you to directly represent your own experiences during the recruiting and hiring process.
