Wholesale Credit Underwriter (Dealer Credit)

What you will do

At Volvo Financial Services (VFS), we believe that relationships, hard work and technological innovation will lead the way into the future to keep our customers and employees connected, successful and moving forward.  As a Wholesale Credit Underwriter within our United States Wholesale Floorplan Inventory (“Wholesale”), you will support these goals by assessing credit facilities required for an assigned group of commercial dealers while also establishing and maintaining security perfection documentation and filings. You’ll directly impact customer satisfaction and business success by maintaining relationships with key dealership personnel and VFS sales channel.  

In this role, you will take ownership of assigned dealer portfolios, monitoring dealer financial trends, payment, audit performance, aging, credit line utilization, and other key indicators.  You will also present dealer portfolio during required review meetings, credit committee and Portfolio Reviews. You will help build team competences through collaboration with and mentorship of Wholesale Credit Analysts and Wholesale Analysts.

Your scope includes, but is not limited to, the following responsibilities and contributions:

•    Underwrite and monitor a portfolio of dealers using data dashboards, data analysis tools, AI, and various systems, including SBS Wholesale Software, Risk Analyst, Quiktrak, Qlikview, Power BI, Moody’s Risk Analysis, and others, including spreading financial statements.
•    Complete ownership and knowledge of dealer relationship regarding credit, audit and operations from time of initiation and onward.
•    Provide analysis and recommend credit lines, lease line, audit frequency, deal structure, and other facets of dealer performance to Wholesale Management, Region North America and/or Global HQ.
•    Ability to underwrite working capital, term loans, and real estate transactions.
•    Understand real estate requirements, appraisals, and environmental reports and work with Manager Wholesale Credit & Risk to close these types of transactions.
•    Daily management of assigned portfolio including inventory management, over line approvals, audit analysis, documentation review, security perfection review, reporting and customer service.
•    Responsible for the timely credit underwriting, annual reviews, and dealer monitoring.
•    Identify issues based on financial, audit, trending, or other factors and propose risk mitigation, audit frequency, and dealer monitoring based on risk.
•    Deep understanding of security perfection including UCC/PMSI, subordinations, and inter-creditor agreements.
•    In collaboration with the Manager Wholesale Credit & Risk and Legal teams, negotiate documents, security perfection, inter-creditor agreements and subordinations.
•    Coordinate dealer collection activities; risk mitigations during SOT’s (sold out of trust) and/or financial distress situation, including onsite visits to dealers.
•    Proactively collaborate with Market Sales teams on dealer issues, as well as opportunities to increase wholesale penetration and/or balances for a dealer.
•    Ensure compliance with any local regulatory requirements as well as Volvo Group and VFS internal requirements.
•    Complete security perfection searches and all other applicable searches as required to successfully ensure VFS collateral security perfection.
•    Interacts extensively with Dealers, District Finance Managers (DFMs),Directors Regional Sales, BA’s, and local market leaders, including in market visits, to develop a holistic approach to the dealer.
•    Drive efficient operational turnaround protocols for dealer funding, payment application, document preparation, and other tasks.
•    Ensure accurate completion of credit and documentation files including establishing dealer files and performing necessary verifications.
•    Provide support for the Wholesale Analyst and Wholesale Credit Analyst activities.
•    Mentor and train wholesale analysts on all aspects of credit, audit, and operations.
•    Provide New Employee Training & Internal Employee cross training of Wholesale activities.
•    Partner with cross-functional teams (Credit, Risk, IT, Operations, Accounting, Legal) to drive process optimization, standardization, and automation initiatives. 
•    Document workflows, metrics, and control points to support continuous improvement Volvo Performance System throughout VFS.
•    Continuous improvement mindset to minimize risk and improve underwriting quality.
•    Occasional travel.    

Who are you?

Do you dream big? We do too, and we are excited to grow together. In this role, you will bring: 

You are a credit underwriter and relationship guru, with 5-7 years of experience in wholesale, commercial loan or lease underwriting, preferably with some or all of that experience coming within the truck or heavy equipment industry. You bring expertise with financial analysis including balance sheet, income statements, cash flow and projection analysis. As a guru, you understand and can teach others the aspects of credit underwriting such as spreading financials, EBITDA cash flow coverage, current ratio, leverage, absorption, tangible net worth and inventory trust position. Wholesale documentation requirements and security perfection are also areas of knowledge.

Through your career progression, you exhibit leadership abilities such as organizational and prioritization skills, the ability to analyze and problem solve and you understand that the root of business success is in developing and maintaining healthy relationships with customers (both external and internal) and colleagues (within Wholesale and throughout VFS).  You have demonstrated experience working independently and exercising sound business judgement.

Your business experience is built upon an educational foundation of holding a BA/BS in Business or a related field. An MBA is a bonus. Previous experience with SBS wholesale software credit capabilities and testing is a plus. English is our business language, so you’ll need fluency reading, writing and speaking English. Proficiency in Spanish is a plus. In your previous work experience, you have demonstrated an ability to leverage technical tools to review, analyze and report on data and business trends and you are comfortable presenting these trends to both technical and non-technical stakeholders. These tools include AI, the Microsoft Office Suite and PowerBI (or similar business intelligence using data dashboards and data visualization tools), and your level of expertise in Excel includes pivot tables, vlookup and data modeling. You also bring a process improvement mindset to your work that will be complimented by our internal Volvo Performance System.