Morgan Stanley is a global financial services firm that conducts its business through three principal business segments-Institutional Securities, Wealth Management (WM), and Asset Management. Morgan Stanley provides comprehensive financial advice and services to its clients including brokerage, investment advisory, financial and wealth planning, credit and lending, deposits and cash management, annuities, insurance, retirement, and trust services.
The Private Banking Group is responsible for developing and managing compelling banking and lending products and services designed to serve the diverse needs of our client base. These products include home loans, securities-based lines of credit, tailored lending products, deposit products, and cash management transaction services offered through our brokerage accounts.
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Morgan Stanley Private Bank National Association is seeking an experienced, positive, and motivated individual to join our Home Loans Underwriting team. The successful candidate will possess a combination of deal structuring and underwriting skills and experience underwriting mortgage loans for sophisticated borrowers with complex income streams. Our Mortgage Underwriters are responsible for analyzing clients' financial background and making lending decisions.
Location: This is a REMOTE based opportunity
Position Responsibilities
- Underwrite and analyze multifaceted mortgage loans for high net-worth clients within delegated credit authority and in accordance with MSPBNA credit policy, lending standards and risk appetite
- Proactively and effectively manage and maintain a pipeline of complex transactions
- Provide guidance as related to complex income scenarios to partners and junior team members
- Perform complicated income, business financial statement and tax return analysis
- Assist in identifying or recommending alternative loan solutions
- Provide onboarding and training to new team members
Qualifications
- Private bank lending experience, business relationship management or commercial/structured credit analysis experience required including providing business financing
- Minimum 10 years' experience credit analysis and underwriting for high net-worth individuals
- Experience underwriting non-conforming loans
- Experience structuring and underwriting loans held in entities i.e. LLCs and Trusts
- Pipeline management experience required
- College degree preferred or equivalent experience, advance degree a plus
Skills/Abilities
- Ability to comprehend business financial statements and personal tax returns
- Understanding of structured credit transactions including terms, covenants, etc. and impact to the residential mortgage product
- Excellent verbal and written communication skills, including ability to articulate the borrower's financial profile and associated risks
- Underwriter should be comfortable working with Family Offices, CPAs, CFOs, Business Managers, Financial Advisors, etc.
- Superior knowledge of underwriting and credit risk principles
- Ability to recognize, mitigate and escalate risks where appropriate
- Strong knowledge of unique property vesting i.e. trusts and LLCs
- Complex self-employed income analysis is a critical requirement
- Ability to partner, collaborate with a deal team (comprising of Mortgage Consultants, Relationship Managers, loan processors, Private Banker, and Financial Advisors) as well as ability to partner with Structured Credit partners
- Experience with wealth management clients
- Extraordinary client service aptitude
- Meticulous follow-up and follow through
- Ability to work under tight timelines
- Excellent attention to detail
- High level of proficiency with Microsoft excel; proficient with Microsoft Office suite
WHAT YOU CAN EXPECT FROM MORGAN STANLEY:
We are committed to maintaining the first-class service and high standard of excellence that have defined Morgan Stanley for over 85 years. At our foundation are five core values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - that guide our more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find trusted colleagues, committed mentors and a culture that values diverse perspectives, individual intellect and cross-collaboration. We Firm is differentiated by the caliber of our diverse team. While our company culture and commitment to inclusion define our legacy and shape our future, helping to strengthen our business and bring value to clients around the world. Learn more about how we put this commitment to action: morganstanley.com/diversity. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry.
We're committed to bringing passion and customer focus to the business.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).