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About the Role

As a Senior Underwriter for US Wealth Management High Net Worth Tailored Lending, you will be responsible for underwriting Tailored Loans for US clients, including Securities Based Loans, Unsecured loans, Life Insurance Premium Financing, Commercial Real Estate, Residential Real Estate, Yacht, and Aircraft. You will also contribute to annual reviews, amendments, waivers, and renewals, and collaborate with Loan Administration and Servicing teams to ensure accurate booking and covenant monitoring. You will support the underwriting team, HNW Tailored Lending Bankers, and Financial Advisors by pre-screening credit facilities and reviewing terms to ensure alignment with the firm's credit policies and risk appetite.

Responsibilities

Partner with HNW Lending Bankers, Financial Advisors and senior members of the underwriting team to review tailored loan credit requests.
Provide guidance and feedback on initial flash terms and term sheets.
Perform initial credit due diligence, spread financial data, and run credit models to propose initial borrower and guarantor risk ratings and loss given defaults.
Draft ETRs (Credit Memos) summarizing credit requests, sources and uses, primary and secondary sources of repayment, key risks and mitigants, and ultimate credit recommendation.
Keep HNW Lending Advisors informed of underwriting progress and immediately notify them of adverse issues and needed structural changes.
Work with lender’s counsel to ensure loan documentation properly reflects agreed business terms and conditions.
Prepare materials and participate in Approval To Pitch and Capital Commitments Committees.
Liaise with Group Risk Management and obtain decisions that fall outside of delegated authority.
Partner with loan servicing team to ensure loans are properly booked and funded.
Review periodic financial disclosures, participate in annual or interim reviews, loan renewals, as appropriate, maintaining timely and accurate risk ratings and classifications.
Review covenant compliance reporting and work with HNW Lending Bankers, FAs, Clients and GRM to promptly action any breaches.
Partner with Reporting and Analytics teams to develop and present quarterly portfolio reviews.

Requirements

Bachelor’s degree preferably in Finance, Economics, Business or a related field.
5 or more years of prior credit risk experience, ideally covering wealth management in the US.
Prior experience in private client, commercial or corporate account management, credit administration and/or risk management.
Familiarity with various forms of UHNW tailored loans including Securities Based Lending, recourse commercial real estate, Life Insurance Premium Financing, and Alternative Investments.
A proven record of sound risk assessment, analytical skills, and judgment.
A demonstrated ability to pro-actively develop and implement policies and procedures that meet US regulatory expectations and a full knowledge of the process inherent therein.
Process oriented to help drive efficiencies while ensuring effective controls are developed and adhered to.
A team player with good interpersonal skills, and ability to work directly with Lending Advisors, Financial Advisors, clients, risk officers, operations, internal auditors and regulators.
Excellent organizational skills and the ability to tight timetables, completing priorities and multi-tasking.
Availability to travel: 10-15% of the time.

Skills

Client Counseling
Coaching Others
Communication
Financial Statement Analysis
Life Insurance
Medical Informatics
Performance Management (PM)
Results-Oriented
Risk Assessments
Underwriting

Location

New York, United States of America

Work Type

Full time
Salaried

Experience Level

5 or more years of prior credit risk experience

Education Level

Bachelor’s degree preferably in Finance, Economics, Business or a related field

Salary/Compensations

$70,000-$130,000
Potential to earn more through RBC’s discretionary variable compensation program

Benefits

Competitive compensation
Flexible benefits
401(k) program with company-matching contributions
Health, dental, vision, life, disability insurance
Paid-time off
Leaders who support your development through coaching and managing opportunities.
Ability to make a difference and lasting impact.
Work in a dynamic, collaborative, progressive, and high-performing team.
Opportunities to do challenging work.
Opportunities to build close relationships with clients.

About the Company

At RBC, we are guided by living shared values of Client First, Integrity, Collaboration, Respect and Excellence and winning together as One RBC.
We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world.
Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities.
RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

Equal Opportunity

We believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world.
Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities.
RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.