PNC Business Credit is one of the top asset-based lenders in the country, with 40 offices nationwide and more than $44 billion in commitments. PNC Business Credit provides senior secured financing with expanded capabilities including junior secured, second lien and recurring revenue loans to private equity firms and mid-sized companies throughout the U.S., Canada and the UK.
Roles within Business Credit are structured with a distinct separation of duties between credit approval, underwriting, field exams, collateral monitoring, and relationship management. The Business Credit track of the Corporate & Institutional Banking (C&IB) Early Career Development Program develops foundational credit risk management skills through rotations in Field Examination, Underwriting, Relationship Management and Business Development.
What to Expect During the Program
Field Examination (12-18 months):
Analysts will assist in the evaluation and monitoring of the credit quality and integrity of collateral pledged as security on loans to existing and prospective borrowers. Field Examinations are largely performed onsite at the prospect’s / borrower’s location in order to develop a thorough understanding of the borrower’s business and reporting systems and is a customary way to confirm the quality of the borrower’s financial data, collateral assets, and internal controls.
Underwriting (3-6 months):
Analysts will assist in the preparation of financing presentations. As part of the underwriting due diligence, Analysts will learn how to (i) identify risks and mitigates associated with the transaction, (ii) establish the risk rating of the potential borrower/loan based on PNC’s Risk Rating Model/Matrix, (iii) evaluate existing or potential environmental and legal impacts on a prospect’s business and industry, (iv) analyze the prospect’s position within the industry and the types of customers and vendors with whom the prospect does business, (v) assess quality of management, financial performance, and collateral and (vi) detail an exit strategy that will minimize losses.
During this rotation, Analysts will be exposed to various legal documentation (appraisals, background checks, environmental reports, guarantor/prospects financials, loan documents) as well as perform Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC) procedures on prospects, principals and key financial management.
Relationship Management (3-6 months):
Analyst will assist the portfolio group with administering the loan, managing the borrower relationship, tracking and monitoring the financial performance, borrowing patterns, and covenant compliance of existing borrowers as well as identifying cross-sell opportunities.
Business Development (3-6 months):
Analysts will assist the Business Development team with all aspects of new business including prospecting borrowers, preparing prescreens and proposal letters, participating in Business Credit Approval Committee Meetings and assisting with the closing process. During this rotation, Analyst will accompany the Business Development Officer on prospect meetings to identify credit opportunities that can help companies leverage the value of their assets to meet their business goals. Analysts will learn how loan documents are prepared and negotiated, participate in loan closing calls and ensure the accurate and efficient funding of a loan.
What a Typical Day Looks Like
As a rotational Business Credit Analyst, job responsibilities will vary depending on the rotation. Analysts will serve as members of a deal team, providing support to Business Credit’s Field Examiners, Relationship Managers, Underwriters and Business Development Officers as they interact with prospects and borrowers.
Analysts are required to support the internal and external customer experience by providing excellent service at all times, taking accountability and ensuring problem resolution.
Based on business need and upon successful completion of the C&IB Development Program, graduates may have the opportunity to become a Field Examiner, Relationship Manager, Underwriter or Business Development Officer supporting Business Credit in one of our growing offices throughout the U.S.
Atlanta, GA; Chicago, IL; Cleveland, OH; Dallas, TX; East Brunswick, NJ; Los Angeles, CA; New York, NY; Philadelphia, PA; San Francisco, CA
Preferred Areas of Study: Accounting, Economics, or Finance. A minimum of the basic accounting classes are required with additional upper level accounting classes encouraged.
Desired Skills: Highly motivated, results-driven, exceptional quantitative skills including the abilities to analyze data sets and apply financial and analytical theories. Competitive spirit yet the ability to work well on a team. Impressive written and verbal communication skills, robust work ethic, with strong attention to detail.
Minimum Requirements: Bachelor’s Degree from a 4-year school or university, 3.2 GPA. Ability to travel up to 75% and having access to reliable transportation for handling local assignments.