Commercial Real Estate (CRE) - Senior Underwriter
About The Position
The Commercial Real Estate Senior Underwriter manages portfolio risk by ensuring timely and accurate credit actions, providing guidance on credit structures and risk-rating decisions, and participating in pre-flight discussions. The role coordinates with Credit, Loan Administration, and other groups to promote consistent, high-quality credit documents and streamline workflows among underwriting, credit approval, and loan administration. The position underwrites new originations and portfolio exposures across a broad range of CRE asset classes. It analyzes borrower financials, property cash flows, collateral valuations, sponsor strength, covenant sensitivities, and market conditions; prepares written credit analyses; and executes straightforward credit requests for existing clients with limited supervision. The role also supports CRE transactions and portfolio management, including construction-project budget monitoring and monthly draw reviews, financial and covenant monitoring, portfolio reviews, risk identification, and collaboration with internal partners and clients. This position is located in Newport Beach, California, and requires working from a U.S. Bank location three or more days per week.
Requirements
- Bachelor's degree or equivalent work experience.
- Five or more years of commercial lending experience.
Nice To Haves
- Strong foundation in CRE underwriting across multiple property types, including cash flow, valuation, sponsor analysis, structure, and covenants.
- Experience authoring credit memoranda and presenting key risks, mitigants, and recommendations to approval committees.
- Strong analytical and technical writing skills, including the ability to translate complex sponsor, tenant, and technical diligence into clear credit narratives.
- Strong verbal and written communication skills and the ability to collaborate across origination, portfolio management, credit risk, and technical advisors.
- Ability to independently drive analyses while partnering closely with Relationship Managers, Portfolio Managers, and Credit Approvers.
- Familiarity with banking credit policy, loan documentation concepts, and CRE underwriting processes, including construction, bridge, term, and portfolio facilities.
- Advanced proficiency in Microsoft Excel for cash-flow modeling and scenario analysis, and proficiency in the broader Microsoft Office Suite.
- Experience with nCino, CoStar, and/or other CRE platforms.
Responsibilities
- Underwrite new originations and portfolio exposures across a broad range of commercial real estate asset classes.
- Analyze borrower financials, property cash flows, collateral valuation, sponsor strength, covenant sensitivities, and market conditions.
- Prepare clear, comprehensive written credit analyses and supporting documentation.
- Execute straightforward credit requests for existing clients with limited supervision.
- Assist with annual company-wide credit reviews for clients with multiple property holdings, including analysis beyond bank-financed properties.
- Support transactions involving existing properties, including refinancings, and ground-up construction projects.
- Monitor construction budgets and review monthly construction draws through project completion.
- Assist with new deal originations, including evaluating opportunities and participating in term-sheet preparation and negotiation as applicable.
- Support Relationship Managers and Portfolio Managers in managing an assigned portfolio of commercial real estate client relationships.
- Spread borrower financial statements accurately and consistently in accordance with bank standards and credit policies.
- Prepare quarterly trend analyses, monitoring reports, and covenant compliance testing.
- Maintain compliance-monitoring and financial-reporting databases, including tracking credit agreement requirements, borrower financial receipts, and key credit metrics.
- Participate in quarterly portfolio reviews, including analysis of operating statements, rent rolls, and risk assessments.
- Proactively identify and communicate emerging risks, mitigants, and other transaction- and portfolio-level issues.
- Collaborate with Credit Approvers and internal risk partners.
- Participate in client bank meetings as needed to support underwriting, portfolio management, and risk discussions.
- Serve as a reliable first line of credit analysis and escalate issues appropriately.
Benefits
- Healthcare, including medical, dental, and vision coverage.
- Basic term and optional term life insurance.
- Short-term and long-term disability insurance.
- Pregnancy disability and parental leave.
- 401(k) and employer-funded retirement plan.
- Paid vacation of two to five weeks, depending on salary grade and tenure.
- Up to 11 paid holiday opportunities.
- Adoption assistance.
- Sick and Safe Leave accruals of one hour for every 30 hours worked, up to 80 hours per calendar year unless otherwise provided by law.
- Incentive and recognition programs.
- Equity stock purchase.
- Pension, subject to eligibility requirements.
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What This Job Offers
Job Type
Full-time
Career Level
Senior
