Middle Market Underwriting Manager

Provident Bank is a longstanding, community-focused financial institution with branches in New Jersey, Eastern Pennsylvania and New York. We are committed to placing employees, customers, and the communities we serve at the center of all we do. Provident Bank recognizes the importance of a diverse workforce and is an equal opportunity employer.

Under general direction from the Group Credit Head – Middle Market and Specialty Lending, the Middle Market Underwriting Manager is responsible for managing the Middle Market Underwriting team and making underwriting and risk rating recommendations within agreed policies pertaining to overall standards, credit quality, portfolio mix and asset classes. This manager will oversee a team of Middle Market Credit Analysts that will underwrite Middle Market line of business requests.

Middle Market Lending focuses on a variety of middle market clients and prospects across non-specialized industries with revenues generally $50 million and greater. Credit facilities typically include working capital lines of credit, term loans, capital expenditure credit facilities, and owner-occupied real estate loans. Leveraged Lending supports acquisitions, buyouts, leveraged recaps and other cash flow leveraged financing. This includes cash flow reliant lending with emphasis on cash flow reliability, deleveraging ability, and enterprise value determination.

Shared National Credits and Agented Deals involve participation in larger facilities or financing as Agent, with underwriting standards similar to Middle Market and Leveraged Lending and knowledge of syndicated loan markets and market norms.

• Ensures timely turnaround of deals assigned to Credit Analysts through proper scheduling of assignments and workload balancing.
• Prepares quarterly report for the team, to be included in the Underwriting Department's report to management.
• Conducts periodic reviews, in line with company policies, of portfolios, policies and processes.
• Prepares performance reviews for the Middle Market Credit Analysts on the Middle Market Lending Underwriting team.
• Meets with the Group Head and lending team leaders to review workflow concerns and issues; maintains daily communication across lines of business.
• Reviews underwriting packages for Middle Market Lending credit analysts to ensure accuracy in loan analysis and risk rating, and adherence to loan policy.
• Manages day-to-day credit activities of the Middle Market Lending department workflow; interacts with Group/Department Heads regularly.
• Reviews workflow and analysis products for efficiency and effectiveness as needed; performs annual staff reviews and handles warnings or disciplinary actions as needed.
• Acts as a mentor to the underwriting team and participates in special projects as assigned.
• May be required to assist or underwrite complex credits from time to time as needed.
• Leads, develops and supervises the Middle Market C&I Credit Analyst team, including interviewing, training, assigning and directing work; addresses and resolves employee concerns.

• Bachelor’s degree in accounting, Finance or Business Administration; MBA preferred.
• Five to ten years in banking or financial services with at least five years in Credit focused on Middle Market and Leveraged Lending.
• Prior lending and approval authority a plus.
• Formal Credit Training preferred.
• Prior management experience required.
• Strong credit underwriting and risk analysis skills; analytical ability to highlight and mitigate risks.
• Comprehensive knowledge of commercial loan deal structures.
• Strong communication skills; ability to interact with department heads and lending officers and mentor staff.
• Proficient in Commercial & Industrial middle market lending, including debt service coverage, cash flow, cash flow leverage, enterprise value and collateral coverage as applicable.
• Ability to conduct meetings, present information effectively and respond to questions from peers, auditors and management.
• Excellent managerial skills with good judgment and resourcefulness in resolving employee questions and issues.
• Excellent computer skills and proficiency with modern office software.
• Ability to prioritize multiple projects.

Work is mainly performed in a normal office environment. Noise levels are usually moderate. Travel to customers and property locations may be required.

• Prolonged sitting
• Lifting from 5 to 10 lbs. (printer paper, storage boxes)
• Occasional bending or overhead lifting (storing files or boxes)
• Hazards are those present in a normal office setting

This job description may not be all-inclusive. Employees are expected to perform other duties as assigned and directed by management. Job descriptions and duties may be modified as deemed appropriate by management.

Provident Bank recognizes and supports the importance of creating a socially and culturally diverse employee base. We value diverse perspectives and place employees and customers at the center of…