Portfolio Manager (Commercial Credit Underwriter)

Job description

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.

What you will do

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 Portfolio Manager (Credit Underwriter) within our United States Wholesale Floorplan Inventory (“Wholesale”), you will support these goals by assessing credit facilities required for an assigned group of commercial dealers 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.  

 

How you will make an impact
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, credit committee and Portfolio Reviews. You will help build team competences through collaboration with and mentorship of Wholesale Credit Analysts and Wholesale Analysts.

Position Scope

Your scope includes, but is not limited to, the following responsibilities and contributions:
• Underwrite and monitor a portfolio of dealers using various systems, including SBS Wholesale Software (WFS), Risk Analyst, Quiktrak, Qlikview, Power BI, and others, including spreading financial statement
• 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
• Ability to underwrite working capital, term loans, and real estate transactions
• Understand real estate requirements, appraisals, and environmental reports and work with Manager Wholesale Credit & Risk 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.
• Responsible for the timely credit underwriting, annual reviews, and dealer monitoring
• Identify issues based on financial, audit, trending, or other factors and propose risk mitigation, audit frequency, and dealer monitoring based on risk
• Deep understanding of security perfection including UCC/PMSI, subordinations, and inter-creditor agreements
• In collaboration with the Manager Wholesale Credit & Risk and Legal teams, negotiate documents, security perfection, inter-creditor agreements and subordinations
• Coordinate dealer collection activities; risk mitigations during SOT’s (sold out of trust) 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 ensuring VFS collateral security perfection
• Interacts extensively with Dealers, District Finance Managers (DFMs),Directors Regional Sales,  BA’s, and local market leaders, 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
• Ensure accurate completion of credit and documentation files including establishing dealer files and performs necessary verifications
• Mentors and trains wholesale analysts on all aspects of credit, audit, and operations
• Provide support for the Wholesale Analyst and Wholesale Credit Analyst activities
• Provide New Employee Training & Internal Employee cross training of Wholesale activities
• Have a change mindset of continuous improvements to minimize risk and improve underwriting quality
• Occasional travel       
 

Who are you?

You are a credit underwriter and relationship guru, with 5 or more years of 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, 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 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 SBS wholesale software (WFS) credit capabilities and testing is a plus. English is our business language, so you’ll need fluency reading, writing and speaking English. Proficiency in Spanish is a plus. 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, company vehicle, and generous RRSP 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?

If you want to make a real impact in your career, Volvo Financial Services is where you want to be. We look forward to meeting you. 

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

We value your data privacy and therefore do not accept applications via mail. 

 

Who we are and what we believe in 
Our focus on Inclusion, Diversity, and Equity allows each of us the opportunity to bring our full authentic self to work and thrive by providing a safe and supportive environment, free of harassment and discrimination. We are committed to removing the barriers to entry, which is why we ask that even if you feel you may not meet every qualification on the job description, please apply and let us decide.

 

Applying to this job offers you the opportunity to join Volvo Group . Every day, across the globe, our trucks, buses, engines, construction equipment, financial services, and solutions make modern life possible. We are almost 100,000 people empowered to shape the future landscape of efficient, safe and sustainable transport solutions. Fulfilling our mission creates countless career opportunities for talents with sharp minds and passion across the group’s leading brands and entities. 

 

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.

Job Category:  Commercial Financial Services

Organization:  Volvo Financial Services

Travel Required:  Occasional Travel

Requisition ID:  16573