Head, Tailored Lending Underwriting

What is the opportunity?

As the Head, Tailored Lending Underwriting, you would be responsible for managing the underwriting team for Tailored Loans, supporting RBC's Ultra High Net Worth (UHNW) clients. You would serve as the lead in Portfolio Management for US tailored loans, manage the underwriting of new loans, serve as a subject matter expert for Ultra High Net Worth (UHNW) Tailored Lending and support the HNW Tailored Lending Advisors. You would help present transactions in 'Approval to Pitch' and 'Commitments' committees and work closely with Loan Administration and Servicing to ensure deals are booked appropriately and covenants are monitored and tracked.

What will you do?

• Serve as CCO for the US Wealth Management New York Branch and Chair of the Risk Management Committee (RMC) for the legal entity.
• Leads underwriting team for US Wealth Management (USWM) Tailored Loans.
• Partners with HNW Lending Advisors to review tailored loan credit requests, provides guidance on initial flash terms and term sheets to ensure adherence to WM policies and risk appetite, and makes recommendations to the group head and Head, Global WM Portfolio Management and NY Branch CCO when needed.
• Manage team that performs credit initial due diligence, spreads financial data, runs credit models to propose initial borrower risk ratings and loss given defaults.
• Manage team that drafts credit memos summarizing credit requests, sources and uses, primary and secondary sources of repayment, key risks and mitigants, and ultimate credit recommendation.
• Prepare materials and participate in Approval To Pitch and Capital Commitments Committees
• Consult with Group Risk Management (2LOD) and obtain decisions that fall outside of 1LOD delegated authority.
• Partner with loan servicing team to ensure loans are properly booked and funded.
• Review periodic financial disclosures, perform annual or interim reviews as appropriate maintaining timely and accurate risk ratings and classifications.

What do you need to succeed?

Must-have

• 10+ years prior credit risk management, underwriting or portfolio management experience in a Wealth Management segment
• Technical expertise in credit risk management and key bank regulatory requirements
• Strong analytical, organization and communication skills
• Positive attitude, self-starter, adaptable to change and strong drive to execute on tasks
• Ability to offer recommendations to improve efficiency and effectiveness
• Comfortable operating in a long-term growth opportunity with developing structure

Nice-to-have

• CFA and/or MBA

What's in it for you?

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 including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
• Leaders who support your development through coaching and managing opportunities
• Ability to make a difference and lasting impact
• Work in a dynamic, collaborative, progressive, and high-performing team
• Flexible work/life balance options
• Opportunities to do challenging work
• Opportunities to take on progressively greater accountabilities
• Access to a variety of job opportunities across business

The good-faith expected salary range for the above position is $200,000 - $325,000, depending on factors including but not limited to the candidate's experience, skills, registration status; market conditions; and business needs. This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.

RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC's high performance culture
• Enables collective achievement of our strategic goals
• Generates sustainable shareholder returns and above market shareholder value

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.