Senior Underwriter (FULL-TIME)

As a Senior Underwriter for our US Wealth Management High Net Worth Tailored Lending business you will be responsible for underwriting Tailored Loans to our clients in the US. These loans will include Securities Based Loans, Unsecured loans, Life Insurance Premium Financing, Commercial Real Estate, Residential Real Estate, Yacht, Aircraft, and other types of collateral. You will support other members of Tailored Lending underwriting team as well as RBC's US HNW Tailored Lending Bankers and Financial Advisors by pre-screening proposed credit facilities and reviewing 'flash terms' and term sheets to ensure they are aligned with the firm's credit policies, risk appetite, and risk framework.

Partner with HNW Lending Bankers, Financial Advisors and senior members of the underwriting team to review tailored loan credit requests; Perform initial credit due diligence, spread financial data, and run credit models to propose initial borrower and guarantor risk ratings and loss given defaults

Draft ETRs (Credit Memos) summarizing credit requests, sources and uses, primary and secondary sources of repayment, key risks and mitigants, and ultimate credit recommendation

Keep HNW Lending Advisors informed of underwriting progress and immediately notify them of adverse issues and needed structural changes

Prepare materials and participate in Approval To Pitch and Capital Commitments Committees

Liaise with Group Risk Management and obtain decisions that fall outside of delegated authority

Review periodic financial disclosures, participate in annual or interim reviews, loan renewals, as appropriate, maintaining timely and accurate risk ratings and classifications

Review covenant compliance reporting and work with HNW Lending Bankers, FAs, Clients and GRM to promptly action any breaches

Bachelor's degree preferably in Finance, Economics, Business or a related field

5 or more years of prior credit risk experience, ideally covering wealth management in the US

Prior experience in private client, commercial or corporate account management, credit administration and/or risk management

Familiarity with various forms of UHNW tailored loans including Securities Based Lending, recourse commercial real estate, Life Insurance Premium Financing, and Alternative Investments

A proven record of sound risk assessment, analytical skills, and judgment

A demonstrated ability to pro-actively develop and implement policies and procedures that meet US regulatory expectations and a full knowledge of the process inherent therein

Process oriented to help drive efficiencies while ensuring effective controls are developed and adhered to

A team player with good interpersonal skills, and ability to work directly with Lending Advisors, Financial Advisors, clients, risk officers, operations, internal auditors and regulators

Availability to travel: We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.

The expected salary range for this particular position is $70,000-$130,000, depending on your experience, skills, and registration status, market conditions and business needs.

You have the potential to earn more through RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

Drives RBC's high-performance culture

Client Counseling, Coaching Others, Communication, Financial Statement Analysis, Life Insurance, Medical Informatics, Performance Management (PM), Results-Oriented, Risk Assessments, Underwriting

Employment Type: Full time

Platform: WEALTH MANAGEMENT