Senior Asset Based Lending Underwriter

We're building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what's right for our clients.
At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.
To learn more about CIBC, please visit CIBC.com
Job Description
CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the U.S., CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth Management offers investment management, wealth strategies and legacy planning.
CIBC US Asset-based Lending is seeking a Senior Asset Based Lending Underwriter to continue our relationship-focused efforts in support of a nationwide client-base. Prospective clients include entrepreneur-led/privately-held companies, publicly-traded customers, and financially-sponsored businesses. Facility sizes range from $10MM to $75MM with syndication capabilities in excess of $75MM. The Senior ABL Underwriter is expected to work closely with our ABL business development team and ABL senior management in helping to provide our new business offering to prospective customers. This individual will be directly responsible for independently analyzing, underwriting, and leading the team to close on new, complex asset-Based Lending transactions. In addition, this individual will manage all facets of risk management in conjunction with line of business and credit risk management partners up and through the closing process.
At CIBC we enable the work environment most optimal for you to thrive in your role. Details on your work arrangement (proportion of on-site and remote work) will be discussed at the time of your interview.
What you'll be doing

• Responsible for leading the transaction team by coordinating originations, credit, cross-sell partners, and portfolio management to evaluate, underwrite, document, and close new asset-based loans ranging from $10MM to $75MM with syndication capabilities >$75MM.
• Responsibilities include structuring the transaction with the ABL team, prescreen preparation/presentation, loan approval preparation, negotiating loan agreements, and leading the transaction forward to a successful closing.
• This position will be accountable for discussing the opportunity with risk management, coordinating collateral appraisals (inventory, real estate, machinery & equipment, intellectual property, etc.) and field exam reports during underwriting, and managing a positive client experience from term sheet to closing.
• Work closely with internal operations, treasury management teams, and appropriate cross-sell units to deliver the full client solution.
• Develop and maintain long-term relationships with third party service providers (i.e. attorneys, appraisers, consultants, investment bankers, etc.).
• Expectation is the position will fulfill all requirements for doing the right thing for customers and colleagues along with operating within the Bank's risk appetite.
• Required to complete all required Compliance training examinations on a timely basis.

Who you are

• Bachelor's degree and 15-years plus of ABL experience with a minimum of 5+ years structuring, underwriting, and closing transactions for a bank and/or non-bank lender.
• Formal credit training and detailed knowledge of asset-Based Lending underwriting, operational procedures, borrowing base mechanics, and cash management diagram.
• Ability to interpret financial statements with an understanding of how to apply asset-based principals to the overall client solution.
• Ability to read and interpret commercial loan documentation and a solid understanding of loan/banking structure, terminology, etc.
• Develops insightful, value-added analysis with corresponding recommendations along with the drivers of those results.
• Self-Starter and ability to operate at a high level in hybrid work environment.
• Excellent verbal, interpersonal and written communication skills with prospects, clients, deal intermediaries, colleagues, and senior management.
• Basic Microsoft Office skills.

• Full-time employee (40-hours per week).
• Travel is expected, but will be situational and client specific.
• Hybrid work schedule with generally three days in the office (if within proximity to CIBC office footprint).
• Ideal candidate in Chicago. Will consider additional locations (Los Angeles, New York, Dallas, Atlanta, etc.) depending upon experience and within proximity of CIBC office footprint.
• Team player who will bring your real self to work and live our values - trust, teamwork and accountability.

What CIBC offers
At CIBC, our people are our greatest asset. You'll become part of a diverse community that acknowledges everyone's unique talents, and empowers teams to do what's right for the client and to do it well. As part of our team, you will:

• Thrive: Benefit from an open and approachable culture that provides the flexibility and support you need to integrate your life at work and home.
• Connect: Work in a place where the right technology and infrastructure foster innovation, collaboration, and creativity.
• Develop: Grow your skills and career through our best-in-class onboarding experience, ongoing learning opportunities, individual development planning, and comprehensive product training.
• Prosper: Share in our collective success with a competitive salary, incentive pay, banking benefits, health benefits programs, retirement savings, and more.

California residents - your privacy rights regarding your actual or prospective employment
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $197,000 - $295,000 for the New York, NY and Los Angeles, CA market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit's incentive compensation plan, which also may include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee's needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave, and Vacation), Holidays, and 401(k), in addition to other special perks reserved for our team members.
What you need to know

• CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com
• You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.

Job Location
IL-120 S LaSalle St
Employment Type
Regular
Weekly Hours
40
Skills
Commercial Credit Analysis, Credit Analysis, Financial Statement Analysis, Loan Approvals, Risk Ratings, Teamwork, Timeline Management, Underwriting Analysis, Underwriting Risk