Wholesale Credit Underwriter (Dealer Financial Services)
Greensboro, NC, US, 27409
Transport is at the core of modern society. Imagine using your expertise to shape sustainable transport and infrastructure solutions for the future. If you seek to make a difference on a global scale, working with next-gen technologies and the sharpest collaborative teams, then we could be a perfect match.
Ready to shape tomorrow with us?
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 Wholesale department, you will support these goals by assessing credit facilities required for an assigned group of commercial dealers (transportation and heavy equipment) 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.
What you will do
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 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 various systems, including Sopra Banking Software Commercial Lending Platform (SBS SFPW), Risk Analyst, Credit Lens, Quiktrak, Power BI, and others, including spreading financial statements
- Develop a comprehensive understanding of dealer financial statements including trend and ratio analysis
- Ongoing portfolio monitoring throughout the year regarding temporary overline situations, financial risk assessment, and special credit situations
- 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
- Understanding and ability to underwrite working capital, term loans, and real estate transactions. Understand the real estate requirements, appraisals, and environmental reports and work with Wholesale Managers 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.
- Completes annual/semi-annual loan reviews and renewals within required timeframes and with minimal guidance
- Deep understanding of security perfection including UCC/PMSI (US), subordinations, and inter-creditor agreements
- In collaboration with the Wholesale Manager and Legal teams, negotiate documents, security perfection, inter-creditor agreements and subordinations
- Coordinate dealer collection activities; risk mitigations during SOT’s 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), Business Areas, Market Leaders and Manufacturers, 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
- Mentors and trains Analysts and Credit Analysts on all aspects of credit, audit, and operations
- Provide new employee training & internal employee cross training of Wholesale US activities
- Have a change mindset of continuous improvements 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 and relationship guru, with 7 or more years’ 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 all 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 US 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 Sopra Banking System credit capabilities and testing is a plus. English is our business language, so you’ll need fluency reading, writing and speaking English. You demonstrate technical proficiency in Excel (pivot table, vlookup, other data analysis, charts, tables, etc), Power Point, Power BI, Teams and other Microsoft Office products.
What’s in it for you?
We offer a solid package of compensation and benefits, plus you will enjoy:
- Competitive remuneration package including incentive plan and generous employer matching contributions.
- Career development with global prospects
- A dedicated Health & Wellbeing program
- The opportunity to do truly meaningful work in a supportive, constructive culture that encourages you to make the most of your talents
Ready for the next move?
Are you excited to bring your skills and transformative ideas to the table? We can’t wait to hear from you. Apply today!
Who we are and what we believe in
We are committed to shaping the future landscape of efficient, safe, and sustainable transport solutions. Fulfilling our mission creates countless career opportunities for talents across the group’s leading brands and entities.
Applying to this job offers you the opportunity to join Volvo Group. Every day, you will be working with some of the sharpest and most creative brains in our field to be able to leave our society in better shape for the next generation. We are passionate about what we do, and we thrive on teamwork. We are almost 100,000 people united around the world by a culture of care, inclusiveness, and empowerment.
At Volvo Financial Services, we are working together to shape the world we want to live in. As the captive finance arm of the Volvo Group, VFS provides financial services and solutions that meet the needs of our customers’ evolving business. Through our dedication to innovation, we support society in its adoption of sustainable transport and equipment solutions. VFS is headquartered in Gothenburg, Sweden, and serves Volvo Group customers and dealers in more than 50 markets.
What’s in it for you?
We offer a solid and competitive package of compensation and benefits, plus you will enjoy a diverse working environment with a culture of care and inclusion. As an investment, we support your personal development and growth to achieve your career aspirations. Volvo Financial Services is an on-site business and we understand that you might need occasional or temporary flexibility, which your leader is equipped to manage and fits well to our culture, as being together enables us to build upon our innovative and collaborative culture, as well as develop you for continued success.
Nearest Major Market: Greensboro