Credit Underwriter - Wholesale Finance

Farmer Mac is looking to hire a driven, analytical, and personable individual for the position of Credit Underwriter - Wholesale Finance.

Position Summary

The Credit Underwriter - Wholesale Finance will play a key role in analyzing, underwriting, and providing recommendations for new and existing credit transactions, as well as perform monitoring of ongoing credit quality of direct and indirect counterparties of Farmer Mac. The Credit Underwriter - Wholesale Finance will work with a variety of financial institution counterparties, including life insurers, commercial banks, real estate investment trusts, private investment funds, and non-bank agricultural lenders. The Credit Underwriter - Wholesale Finance will also provide secondary support to other areas of Corporate AgFinance, which will involve underwriting and credit monitoring of large farm and ranch, agribusiness, and, on occasion, rural utilities and telecom borrowers.

A suitable candidate must be a self-starter, able to work and complete various and recurring tasks timely and thoughtfully. Candidate must also be able to work with minimal supervision within one’s field of expertise and should be an active and efficient communicator.

Who You Will Work With

The position will report directly to the Senior Director - Credit Underwriting and hold a high level of visibility within the company. The position will have regular interaction with a broad swath of internal and external Famer Mac stakeholders including Credit Approvals, Institutional Credit Underwriter - Team Lead, Relationship Management, Transaction Management, Legal, and Managing Director, Head of Wholesale and Corporate AgFinance. The position will also have a high degree of interaction with Farmer Mac credit committee and Farmer Mac clients.

Where and When You Will Work

The position can be based in Farmer Mac’s Washington, D.C. headquarters or remotely. Work outside of core hours may be required for planned and unplanned activities to complete time sensitive projects or to attend off-site meetings or events.

Minimal travel (< 15%) may be required.

Primary Responsibilities and Duties

• Manage the entire credit process with institutional clients, assists with call preparation and a direct point of contact for client interaction during the underwriting, structuring, and post-close process.
• Analyze and report on financial condition and performance of existing and new institutional counterparties including financial institutions, investment companies, REITS and individual agricultural borrowers. Prepare and give credit presentations recommending new or incremental credit exposure to the Credit Approval Committee.
• Assess and structure complex credits, within prescribed standards, for a variety of commodities and industries across the United States. Analysis and structuring will primarily focus on institutional wholesale finance transactions for financial and fund counterparties, as well as analyzing and underwriting large and complex production agriculture transactions.
• Track ongoing financial performance of various new and existing institutional counterparties and report covenant compliance to Credit Approval Committee.
• Prepare quarterly updates and annual reviews of institutional counterparties within Farmer Mac’s wholesale financing segment.
• Review loan documentation of potential institutional counterparties for acceptability of terms and conditions and advise on structural considerations.
• Work with Corporate AgFinance Business Development and Transaction Management to coordinate the close of transactions.
• Assess and underwrite loans submitted by clients to be pledged as eligible collateral for institutional clients’ bond issuances.
• Spread financial statements in Moody’s CreditLens.
• Secondary responsibility will provide underwriting and portfolio management support on Corporate AgFinance loan purchase and/or Telecommunications transactions including but not limited to cash flow-based loans (leveraged loans, term loan B, etc.), ABL loans, and other collateral dependent facilities.
• Develop and maintain knowledge of financial industry, economy, market conditions, rates, and competition.

Professional Experience/Qualifications

• Bachelor’s degree in finance, accounting, or related subject.
• At least seven (7) years’ experience as a Credit, Investment, or Financial Analyst.
• In-depth understanding of credit transactions with financial institutions, with prior agricultural or agribusiness underwriting a plus.
• Broad knowledge of risk management techniques and functions.
• Ability and desire to analyze financial statements, income tax returns and projections, structure transactions, identify key strengths and weaknesses and devise workable credit solutions whenever possible.
• Strong familiarity with loan underwriting, collateral evaluation, lien perfection and documentation requirements relating to agricultural and commercial loan structures.
• Knowledge and understanding of agency ratings.
• Ability to deal with complex problems involving multiple facets and variables in non-standardized situations.
• Experience and knowledge with enterprise value lending preferred.
• Demonstrated analytical, problem solving, and interpersonal skills.
• Must have strong written and verbal communication abilities.
• Proficient in Microsoft Office Suite.
• Experience using Moody’s Analytics, Moody’s CreditLens, and Salesforce.
• Strong work ethic with the ability to work on one or more tasks efficiently and effectively with minimal supervision.

Our compensation philosophy is targeted pay positioning relative to peers, our industry, and external markets. Farmer Mac is committed to a compensation program that will enable the organization to attract, motivate, reward, and retain highly skilled and creative talent to maintain sustained long-term performance and achieve the organization’s strategic business objectives. The typical base pay range for this role is $104,000 to $130,000 per year. Compensation will vary based on experience and geographic work location.

Farmer Mac is an equal opportunity employer.

NO EMPLOYEE OR JOB APPLICANT WILL BE DENIED OPPORTUNITIES OR BENEFITS AT FARMER MAC BASED ON RACE, RELIGION, COLOR, SEX, AGE, NATIONAL ORIGIN, DISABILITY, VETERAN STATUS, CITIZENSHIP STATUS, GENETIC INFORMATION, OR ANY OTHER BASIS PROHIBITED BY APPLICABLE LAW.

Farmer Mac has adopted an affirmative action program plan to create a workforce that is an accurate reflection of the demographics of the qualified available workforce in the relevant job market. A summary report is available upon request.