To support our Advisors in Transition growth, and improve the client experience, we are building a dedicated Pledged Asset Line (PAL) Sales team to work directly with clients to complete the PAL application. The sales associate will insure the application is completed accurately and serve as a single point of contact throughout the process. Given the current defect rate in PAL applications submitted (90%); increase capacity in Henderson processing team; and improve the client experience.
What you ll do:
- The mission of the Henderson Credit Team is to provide credit decisions on a wide array of lending products in order to satisfy the credit needs of Schwab and Co. clientele. Within Schwab Bank, Underwriting has been staffed and organized around various Consumer and Commercial loan products and this position is specific to the credit role for consumer Pledged Asset Loans.
- As part of the Henderson Credit Team you will join a team that works closely with a variety of business partners managing Schwab s lending process, providing credit underwriting decisions on our most complex loans and working credit for loans in the portfolio as well as assisting in loan remediation and loss mitigation efforts.
Description of Role
Position involves underwriting various pledged asset loans to minimize loan losses, identify and mitigate credit risk, and prepare reports for senior management. Underwriter will use borrower/guarantor provided financial information, industry data, credit bureau reports, and internal Schwab data to analyze the credit and apply sound judgment necessary to support underwriting decisions.
- Recommending underwriting decision in a comprehensive credit analysis
- Consulting with internal and external legal counsel on loan documentation issues
- Communicating with internal partners and groups regarding loan requests
- Ensuring compliance with established loan policies, credit limits, and regulatory requirements
- Providing credit guidance to internal departments developing new loan products
- Responding to other ad hoc requests
- Approval/decline of loans based on loan policy
What you have:
- Minimum of 2 years of broad credit analysis experience, 5 or more years of securities experience.
- Excellent analytical / financial analysis skills including financial ratio analysis.
- A sound high level understanding of Pledged Asset Loan Product and Processes
- Full understanding of consumer lending regulations and requirements (i.e. Equal Credit Opportunity Act, Credit reporting Act, etc)
- Well developed organizational and interpersonal skills.
- Strong basic computer skills.
- Excellent communications skills, both oral and written.
- Demonstrated ability to use good judgment and to work independently.
- Undergraduate degree preferred; however, additional credit analysis experience can compensate.
Three Critical Success Factors for the Role:
1) Sound credit analysis skills including the ability to respond to ad hoc requests.
2) Strong written, oral, and interpersonal skills including the ability to explain / present your original analysis.
3) The ability to work efficiently by meeting deadlines without sacrificing quality of product and services.
What you ll get:
- Everyday Wellness: Healthy Rewards, Onsite Fitness Classes, Healthy Choices, Wellness Champions
- Financial Fitness: 401k Match, Employee Discounts, Personalized advice, Brokerage discounts
- Work/Life Balance: Sabbatical, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer
- Inclusion: Employee Resource Groups, Commitment to diversity, Strategic partnerships
- Not just a job, but a career, with an opportunity to do the best work of your life