Genesis Capital (the “Company”) is one of the largest business purpose lenders in the country, focused on providing commercial real estate financing solutions to real estate developers who buy, renovate, and sell single-family and/or multi-family residential real estate. The Company is a subsidiary of Rithm Capital (parent company), a publicly traded mortgage real estate investment trust.
The VP, Credit Risk Manager, is responsible for assisting Senior Credit Officers and the Chief Credit Officer in managing the underwriting and approval process to ensure credit quality across the loan portfolio. The role includes oversight and responsibility for borrower underwriting and loan underwriting functions, establishing and managing underwriting policies and procedures, evaluating borrower creditworthiness, structuring and adjudicating loans within designated approval ranges, reviewing sponsor and project approvals, and ensuring that underwriters follow established guidelines to avoid assuming undue risk. The VP, Credit Risk Manager, will assist in managing loan outcomes and maintaining low delinquency and default rates. The VP, Credit Risk Manager, will also play a role in training/oversight of underwriters and Credit Risk Managers with less experience and/or seniority.
In addition, the VP, Credit Risk Manager will also assist in managing Genesis’ existing loan portfolio by monitoring loan quality, identifying significant issues that could impact loan outcomes, providing solutions to address any challenged loans and borrowers, managing past-due accounts, loan maturation, and borrower maturation/renewals.
Principal Duties:
ESSENTIAL FUNCTIONS include the following. Other duties may be assigned.
- Underwriting
- Participate in the management of the sponsor and loan underwriting process by providing guidance and oversight to ensure thorough and sound underwriting practices.
- Support the underwriting team by providing feedback and structural direction on special-situation loans or risk-based components identified via the underwriting process to facilitate originations while mitigating risk to maintain the health of the loan portfolio.
- Review and approve sponsor and loan write-ups to ensure risks are appropriately identified and mitigated.
- In conjunction with the VP, Underwriting Manager actively manages the underwriting pipeline to ensure underwriting assignments are completed on time.
- Credit Approval
- Structure and adjudicate loans and sponsors within the designated approval authority as established by the Genesis Table of Authority.
- Participate in credit committees offering commentary related to structure and risk.
- In conjunction with an assigned Senior Credit Officer, work collaboratively to structure, approve, and manage loan requests to mitigate risk and ensure the health of the Genesis loan portfolio.
- Serve as a voting member on credit committee(s) as established by the Genesis Table of Authority.
- Oversight and Training
- In conjunction with the Credit Leadership team, lead and mentor the underwriting team to advance the overall skillset of the underwriting group while creating cross-training and career advancement opportunities.
- Establish KPI’s to measure underwriting performance and implement processes/procedures to maximize performance.
- Provide oversight and training to Credit Risk Managers with less experience or seniority.
- Underwriting Policy and Compliance
- Establish underwriting guidelines and ensure ongoing adherence.
- In conjunction with the Credit Team, and with direction from the Chief Credit Officer, periodically evaluate underwriting guidelines and make recommendations to ensure risk is appropriately identified and mitigated through the underwriting process.
- Implement industry best practices tailored to our organization that thoroughly vet sponsors and projects before credit approval is granted.
- Provide financial modeling and analysis of data, create and maintain high-level, multifunctional Excel reports and collaborate with other departments to incorporate their data for insight.
- Identify non-compliance with underwriting guidelines, systematic underwriting or credit risks, and portfolio trends leading to outsized risk and escalate these risks to the Chief Credit Officer.
Education and Experience
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions.
- Bachelor’s Degree required.
- 10-15+ years of industry-relevant experience in commercial lending, underwriting, and credit analytics are required.
- 3+ years of credit approval, or like-kind decision-making experience (i.e., investment, transactional, etc.)
- Industry knowledge of credit and financial analysis, including cash flow analysis, balance sheet analysis, profitability, liquidity, and solvency analysis.
- Expert knowledge of credit underwriting policies, procedures, processes, collateral valuation, and documentation.
- Highly Proficient/Advanced in Excel, Word, PowerPoint, and database applications.
Knowledge, Skills, and Abilities
- Ability to mentor and lead a diverse team domiciled in multiple locations.
- Advanced critical thinking and analytical skills.
- Strong business acumen.
- Takes initiative with a clear business purpose in mind.
- Adapts to change easily in a fast-paced work environment.
- Strong time management skills.
- Strong interpersonal and communication skills with exceptional follow-through abilities.
- Excellent customer service skills.
- Strong written and verbal skills.
While this description is intended to be an accurate reflection of the position’s requirements, it in no way implies/states that these are the only job responsibilities. Management reserves the right to modify, add or remove duties and request other duties, as necessary.
By applying to this position candidate acknowledges that this is not a remote role and is required to be on-site.
Compensation Range: $180,000 - $210,000/annual
Equal Employment Opportunity
We're proud to be an equal opportunity employer- and celebrate our employees' differences, including race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, and Veteran status. Different makes us better.