Commercial Lending Underwriter I

Description CompanyOverview: NextGear Capital is the world?s leading independent inventoryfinance company, Providing flexible lines of credit for dealers to purchase new andused inventory throughout the U.S., Canada and the United Kingdom. NextGearCapital delivers innovative solutions that empower dealers to buy and sellinventory with versatile lines of credit that can be used at over 1,000 auto and specialty auctionsand other inventory sources. The company offers floor plan financing for nearly any type ofremarketed unit in automotive retail, wholesale, salvage and specialty, includingrecreational vehicles and trailers, marine, powersports, used heavy trucks, auto salvage andauto daily rentals. NextGear Capital also provides a robust array of services andsupport allowing dealers to acquire and sell more inventory. This includes state-of-the-artonline and mobile account management tools, market specific industry and dealer performancedata, title services, records management and collateral protection. NextGear Capital is focused on service, technology and simplesolutions that will help dealers stock more vehicles, attract more customers and close moredeals. The company is headquartered in Carmel, Indiana and is part of theCoxAutomotive group of companies. Summary: AnUnderwriter provides administrative support to NextGear Capital Account andSale Executives and their customers (dealers).? Reporting directly to theLending Team Lead, an Underwriter is responsible for processing applicationsand reviewing documents for the purpose of assessing the credit worthiness ofdealers and securing NextGear Capital?s overall interest.? The focalpoints of the Underwriter are customer service and risk management.? TheUnderwriter must partner with employees at the Field Executive level to deliveraccurate and responsible financial services to our external customers.?The individual should possess excellent work ethic with a high energy level,motivation, enthusiasmand ambition.? Individual required to sift through complex information andfocus on critical priorities.? Proactive communication and ability toexecute independently while maintaining the team work environment in apositive, proactive fashion. Essential Duties and Responsibilities : Develops a thorough understanding of ?NextGear Capital policies, processes and?Procedure?s related to processing applications and/or modifications request to existing accounts . Takes actions necessary to collect or verify information required to process secure credit decisions and processing of contracts. Individual expected to possess a combination of skills that relate to the analytical nature of assessing lending requests and provide quality analytical summary on accounts identifying material risks through analysis of credit reports, legal reports, UCC analysis, and external web sites.? Combines NextGear Capital credit guidelines with professional judgment to recommend the level of credit to be extended to each dealer. Attention to detail helps in ensuring accuracy in the process of assessing all critical facets of an accounts application. In particular, the individual should have finance, analytical, problem solving and decision-making skills to weigh the risks and costs of providing credit in a high volume environment. Provides prompt, accurate and courteous service to both internal and external customers. Specific Duties and Responsibilities: Process all New Applications and existing NextGear Capital floor plan account reviews up to $250,000 Process Contract Modifications Review request of existing NextGear Capital accounts up to $250,000.? Including but not limited to Line of Credit Increases, Term Changes, Signer Changes, and Entity Changes. Pull, review, and interpret a credit report on both the business and the individual applicants. Examine length of credit history, nature of accounts, payment history, size of trade lines, credit utilization, in determining credit worthiness of applicant and business. Research any relevant bankruptcy records, tax liens, and / or judgments in weighing applicants? business or personal ability and willingness to repay NGC obligations. Research through websites the UCC (Uniform Commercial Code) file position found under the business applicant legal name. Validation of the business applying and who the accurate ?legal? owners are through documentation provided and/or public record search.? Review field summary comments provided with business background and sales volume status. Review NGC system for existing account performance overall in relation to account modification reviews. Approval authority up to $250,000 with within scorecard completed.? Underwriter has Decline authority. Verify all NextGear Capital required contract supporting documentation per account to secure NextGear Capital interest. Process all decisions and documents by completing a Lending Summary document. Phone/Email contact to NextGear Capital Account/Sales Executive for information/documentation required to decision a request Draft Full Legal Contract or Contract Amendments for customer and submit to NextGear Capital Account/Sales Executive for signing. Update company system/tracking on the status of all duties listed above Report the status for all duties listed above to the Lending Team Lead. Qualifications Job Knowledge, Skills and Abilities ? Familiarity with concepts, procedures and processes typically used in automotive and financial services industries. Understanding of how to interpret personal Credit Bureau reports, including but not limited to Bankruptcy, Tax Liens, and Judgments or any other public record. Have the ability to interact professionally with internal and external customers.? Must be detail-oriented, organized and possess strong problem solving skills with the ability to make quick, accurate decision with limited information.? Possess the ability to manage multiple priorities and meet deadlines in a fast paced, high volume work environment. Familiarity with business documentation including but not limited to sole proprietorships, S-corps, C-corps, partnerships and limited liability corporations is preferred. Familiarity with Dealership licensing requirements throughout the United States and Canada. Ability to research and analyze UCC filings in the U.S. and Hypothec filings in Canada to determine collateral positioning of all filers and its effect on account risk. Have working knowledge of Microsoft Office software and Internet.? Telephone, keyboard, standard office equipment, windows-based computer system ? Education and Experience: ? High School Diploma or Equivalent Post high school course work in a related field preferred but not required. Knowledge of reading/speaking Spanish or French is preferred, but not required. Prior work experience in Auto or Financial service industry is preferred but not required. ? Work Environment: ? Office environment Physical Demands: ? Sitting for long periods of time Standing, Bending May be required to lift and/or move boxes and supplies About Cox Automotive ? Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader?, Dealer dot com?, Dealertrack?, Kelley Blue Book?, Manheim?, NextGear Capital?, vAuto?, Xtime? and a host of other brands. The global company has 33,000 team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises Inc., an Atlanta-based company with revenues of $18 billion and approximately 60,000 employees. Cox Enterprises? other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit . Organization: Cox AutomotivePrimary Location: US-IN-Carmel-11799 N College AveEmployee Status: RegularJob Level: Individual ContributorShift: Day JobTravel: Yes, 5 % of the TimeSchedule: Full-timeUnposting Date: Ongoing Company Description:Cox Enterprises is a leading communications, media and automotive services company. With revenues of more than $17 billion and approximately 55,000 employees, the company's major operating subsidiaries include Cox Communications (cable television distribution, high-speed Internet access, telephone, home security and automation, commercial telecommunications and advertising solutions); Cox Automotive (automotive-related auctions, financial services, media and software solutions); and Cox Media Group (television and radio stations, digital media, newspapers and advertising sales rep firms). The company's major national brands include Autotrader, Kelley Blue Book, Manheim, and Valpak. At Cox Enterprises we innovate and evolve in alignment to a set of values that remain constant. Year to year. Person to person. Our Core Values: Our employees are our most important resource. We are committed to having a diverse workforce. Our customers are our lifeblood. We embrace new technologies. We invest in new business opportunities. We believe its good business to be good citizens. We are committed to helping shape a better world At Cox we believe that bold action and staying true to our values has enabled us to create a thriving business. We believe in pushing the boundaries of what s possible.