Senior Underwriter - VP

Company Overview:

Peapack Private Bank & Trust is a leader in wealth, lending and deposit solutions. At Peapack Private, our clients are cared for by a single point of contact and are served by empowered employees who consistently go above and beyond to provide exceptional service and offer a boutique private banking experience.

What makes Peapack Private different? We are an institution that has always believed in putting the well-being and needs of our employees and our clients first. We are proud to be recognized for the seventh consecutive year by American Banker as one of the "Best Banks to Work For" across the nation. In addition, we were selected as Crain's Best Places to work in NYC for our inaugural year, 2024. Our secret sauce in one word is our 'culture'.

At Peapack Private, we value a diverse and inclusive workspace, deeply committed to growing leaders at all levels of the organization thorough mentorship, career pathing, and professional development. There are multiple ways to build relationships and get involved - from joining our Cultural Ambassador Committee focused on areas like Wellness, Fun, Inclusion, or Environmental Awareness - to involvement in community service activities through Volunteerism. Said quite simply, the culture and the people who work here are amazing!

Position Overview:

Responsible for structuring, underwriting and ongoing monitoring of commercial real estate loans, including multi-family loans. Evaluate and determine the credit risks of the more complex and/or specialized commercial real estate clients through detailed financial statement and cash flow analysis, the ability to repay annual debt service, collateral valuations, and sensitized pro-forma analysis.

Key Responsibilities:

• In conjunction with the senior underwriter, responsible for the structuring, underwriting and ongoing monitoring of commercial real estate loans; completion of loan approval packages that include financial/cash flow analysis, stress testing, collateral valuation and identifying and mitigating risk.
• Work with commercial private bankers for the review of loans, to include ongoing collection of updated financial information, covenant compliance and other information impacting the ongoing creditworthiness of borrowers (taxes, building violations). This may also include customer retention efforts and client visits.
• Perform annual/periodic reviews of a designated portfolio of commercial real estate clients, in an accurate, timely and effective manner, including the identification of emerging risks and the appropriate risk ratings.
• Provide portfolio level support and expertise for internal audit, external audit and regulatory examinations for commercial real estate lending portfolio.
• Develop and coach Jr. team members; provide guidance/mentoring as appropriate.
• Additional projects and responsibilities, as assigned.

Qualification:

• Credit Risk professional with strong analytical skills and knowledge of commercial lending, strong understanding of financial statements, rent-rolls and tax returns.
• Bachelor's degree in business, finance, or related field.
• Strong interpersonal and communication skills, both verbal and written; the ability to engage with customers, clients, Bank professionals and third-party professionals (government officials, attorneys, accountants, participant banks) effectively and professionally.
• Minimum five to ten years' experience managing commercial real estate portfolios.
• Knowledge of financial institution policies and procedures
• Proficient in Microsoft Word and Excel

The physical demands and work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions:

• Physical Demands: While performing the duties of this job, the employee is required to walk; sit; stand; use hands; fingers; reach with hands and arms; stoop; talk or hear. The employee may occasionally lift and/or move up to 25 pounds. Specific vision abilities required by the job include close vision, distant vision, color vision, peripheral vision, depth perception and the ability to adjust focus.
• Work Environment: While performing the duties of this job, the employee is exposed to weather conditions prevalent at the time. The noise level in the work environment is usually minimal.

Benefits Overview:

We offer a competitive compensation package, a generous paid time off program, comprehensive medical, dental and vision coverage, maternity/paternity leave, a hybrid work environment (for most roles), education reimbursement, wellness programs and more. We also offer participation in an Employee Stock Purchase Program and a 401K with a generous match.

The approximate pay range for this position is $117,000 to $145,000, plus an opportunity to earn performance-based incentives. Please note that the pay range provided is a good faith estimate for the position at the time of posting. Final compensation may vary based on factors including, but not limited to knowledge, skills and abilities, as well as geographic location.

Note: Incentives and/or benefits packages may vary depending on the position.