Commercial Underwriter - Leverage Finance

Old National Bank•Chicago, IL

53d•$83,300 - $168,400•Onsite

About The Position

Old National Bank is seeking a Commercial Underwriter for its Sponsor Finance and Mid-Corporate Leverage Finance teams. The role focuses on financial analysis, projection modeling, and underwriting lending opportunities while balancing risk and growth and ensuring loan structures align with the bank’s lending standards. The underwriter assesses credit risk, assigns asset quality ratings, and provides credit expertise to Relationship Managers and internal support staff in underwriting and monitoring an assigned portfolio. This is an in-office position at 8750 W. Bryn Mawr in Chicago, near Rosemont and the Cumberland Blue Line stop. The salary range is $83,300 to $168,400 per year. Actual offers depend on factors including responsibilities, relevant skills and experience, education, and location.

Requirements

5–7 years of progressive experience within Commercial Credit, with each incremental level of responsibility.
Knowledge of Enterprise Value lending.
5–7 years of experience within Sponsor Leverage Finance or Mid-Corporate Leverage Finance.
Understanding of risks associated with lending to various industries and the ability to take appropriate action.
Thorough understanding of risk management and credit mitigants.
Skill in loan structuring, loan documentation, borrowing causes, and lending regulations, with the ability to comply with and conform to bank lending policies, guidelines, and standards.
Experience reviewing complex financial statements and loan documentation.
Strong analytical and financial modeling abilities.
Ability to make sound independent decisions and communicate them clearly and promptly in a high-volume, fast-paced environment.
Exceptional verbal and written communication skills.
Ability to actively listen, identify issues and opportunities quickly, and solve problems in real time.
Comfort working collaboratively while also serving as an independent thinker.
Bachelor’s degree in finance, accounting, or equivalent experience.

Nice To Haves

MBA.

Responsibilities

Underwrite renewals and new credit requests, conducting due diligence, risk assessments, and asset quality rating assessments.
Meet underwriting quality standards and productivity expectations for annual credit approval memorandum volume.
Make prudent credit decisions that balance risk and growth while producing accurate, high-quality analyses efficiently in a fast-paced, high-volume environment.
Partner with Relationship Managers and Treasury Management Partners.
Provide consultative credit expertise and assist with loan structuring in accordance with bank guidelines, standards, policies, and risk assessments.
Communicate risks, questions, and options to Relationship Managers and seek mutually beneficial solutions.
Deliver internal customer service, adopt new processes and tools, and develop knowledge of assigned segments and portfolios using internal and external resources.
Collaborate with revenue-generating sales teams, support teams, and Credit colleagues.
Accurately assign asset quality ratings and monitor assigned credit portfolios with Relationship Managers.
Review trend analysis reports, defaults, delinquencies, maturing notes, receipt of financial information, covenant defaults, Borrowing Base Certificate reports, and other relevant reports.
Prepare credit data for Special Assets Assessment and Action Summary and Upgrade Hurdles, as necessary, in collaboration with Relationship Managers.
Prepare quarterly Special Asset Reports for adversely risk-rated credits, including upgrade and downgrade triggers and detailed action plans coordinated with Relationship Managers and the Senior Credit Officer.
Monitor overlines and Treasury Management/ACH risk reports or other trends, as appropriate.